When you're picking a bank, things like the types of products they offer, account features, fees, and how they treat customers are important.
PNC Bank and Fifth Third Bank are two big players in banking, and in this article, we'll check out both to help you decide which one fits your financial needs better.
Checking Accounts
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Account Types And Fees
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Features
PNC Checking Account | Main Features |
|---|---|
Virtual Wallet Performance Select | No PNC charges for using other banks' ATMs or domestic wires |
Virtual Wallet Performance | Reimbursements for some non-PNC ATM fees, higher relationship interest rates |
Virtual Wallet Standard | Zelle, spending analysis, savings goals |
Foundation Checking
| Mobile banking, no overdraft fee, free cashier checks, debit card |
Fifth Third Bank's checking accounts offer a range of benefits designed to cater to various financial needs. The basic accounts provide customers with unlimited check writing, round-the-clock access to mobile and online banking, Early Pay options for quicker access to paycheck and more.
For those opting for premium checking, the advantages extend to better loan rates and the added security of Fifth Third Identity Alert.
Fifth Third Bank Account | Main Features |
|---|---|
Fifth Third Momentum Checking | Unlimited check writing, 24/7 mobile and online banking, Early Pay |
Fifth Third Preferred Checking | Better loan rates, Fifth Third Identity Alert |
Fifth Third Student Checking | Debit card, unlimited check writing, online bill pay |
Fifth Third Express Banking | Check cashing and deposits, tools to build credit, Debit Card. |
Fifth Third ABLE Checking | Debit card, unlimited check writing, no overdraft or non-sufficient funds fees |
Fifth Third Military Checking | Special VA home loan rates, 10 free non-Fifth Third ATM transactions per month |
As we can see in the following screenshot, the Fifth Third app provides clear information about overdraft options and associated fees. Users can easily opt-in or opt-out of overdraft protection, tailoring their account preferences to suit their financial needs.
Savings Accounts
PNC high-yield savings accounts is our winner as it offers much higher rates compared to Fifth Third Bank savings account.
PNC offers a High Yield Savings account exclusively for eligible customers, featuring a competitive online-only rate and no required minimum deposit.
Additionally, PNC provides a Premiere Money Market account with tiered rates based on balance and eligibility for relationship rates. This account allows unlimited deposits and includes a debit card for account holders.
Like many brick-and-mortar banks, the Fifth Third bank savings account offers relatively low rates . They also have a money market account – but also here, the rates are low
PNC Savings | PNC Money Market | Fifth Third Savings | |
|---|---|---|---|
Savings Rate | 0.01% – 0.03%
The PNC High Yield Savings℠ account is only available to residents of Arizona, California, Colorado, New Mexico and Texas.
| 0.02% – 0.05% | 0.01% |
Minimum Deposit | $0 | $25 | $0 |
Fees | $0 | $12
Can be waived if you maintain a minimum daily balance of $5,000
| $5
The monthly service charge for Fifth Third savings accounts is waived if you meet any of the following criteria: having a Fifth Third checking account, having all savings account owners listed on the Fifth Third checking account, maintaining an average monthly balance of $500 or more, having an account owner under 18 years old, or being enrolled in Fifth Third Military Banking.
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Certificate Of Deposits (CDs)
When it comes to CDs, Fifth Third Bank is our winner. Both banks offer high rates only on promotional, special terms – but Fifth Third Bank offers more terms with high CD rates than PNC Bank.
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Fifth Third CD Rates
Fifth Third Bank CDs | |
|---|---|
5 Month | 5.20% |
7 Month | 4.40% |
12 Month | 4.20% |
Minimum Deposit | $5,000 |
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PNC CD Rates
CD Term | APY |
|---|---|
7 Months (Featured) | 0.01% -4.25% |
12 Months | 0.01% – 0.03% |
13 Months (Featured) | 0.01% – 2.00% |
19 Months (Featured) | 0.01% – 1.25% |
24 Months | 0.01% – 0.03% |
25 Months (Featured) | 0.01% – 1.50% |
24 Months | 0.01% – 0.03% |
37 Months (Featured) | 0.01% – 1.75% |
36 Months | 0.01% – 0.03% |
61 Months (Featured) | 0.01% – 2.00% |
Credit Cards
Card | Rewards | Bonus | Annual Fee |
| PNC Cash Unlimited Visa Signature Credit Card | 2%
unlimited 2% cash back on every purchase | 0% Intro APR: 12 billing cycles on purchases and balance transfers | $0 |
|---|---|---|---|---|
| PNC Cash Rewards Visa Credit Card | 1% – 4%
4% on Gas station purchases, 3% on Restaurant and 2% on Grocery store (for the first $8,000 in combined purchases in these three categories) and 1% cash back on all other purchases | $200
$200 cash back after you make $1,000 or more in purchases during the first 3 billing cycles following account opening | $0 |
| PNC points Visa Credit Card | 4x – 7x
4 points per $1 on purchases + 25% / 50% /75% bonus on all base points for PNC customers | 100,000 bonus points
100,000 bonus points after you make $1,000 in purchases during the first 3 billing cycles following account opening | $0 |
| PNC Core Visa Credit Card | N/A | 0% Intro APR: 15 billing cycles on purchases and balance transfers | $0 |
| PNC Secured Visa credit card | N/A | N/A | $0 |
Fifth Third Bank provides four credit cards tailored to different needs: one for earning cash back, another for balance transfers or financing big purchases with a low intro APR, and a secured card for building credit.
Card | Rewards | Bonus | Annual Fee |
| Fifth Third 1.67% Cash Back
| 1.67%
Unlimited 1.67% cash back with every purchase | N/A | $0 |
|---|---|---|---|---|
| Fifth Third Low Intro Rate | 1%
Unlimited 1% cash back on every purchase | 0% Intro APR: 21 months on purchases and balance transfers | $0 |
| Fifth Third Preferred Cash Back (Exclusively for Fifth Third Preferred Banking Clients) | 2%
unlimited 2% cash back with every purchase | N/A | $0 |
| Fifth Third Secured Card | N/A | N/A | $24 |
Mortgage And Loans
When it comes to borrowing money, we recommend PNC Bank over Fifth Third Bank because PNC provides a wider range of options.
PNC offers mortgages for buying or refinancing homes, home equity lines of credit, loans for building or buying property, auto loans for vehicle financing, personal loans for various financial needs, and even Student Loans and Student Loan Refinancing for education expenses.
On the other hand, Fifth Third Bank focuses more on mortgages for homebuyers, mortgage refinancing, home equity loans, personal loans, and car financing for both new and used vehicles.
Which Bank Is Our Winner?
Overall, our winner is PNC Bank, mainly due to higher savings and money market account rates, and better credit cards.
Our Methodology for Comparing Banks
In our thorough banking comparison, The Smart Investor team carefully reviewed and compared banks across five key categories:
Checking Accounts (30%): We examined features like direct deposit, debit card availability, monthly fees, ATM and branch access, check deposit, bill pay options, and account alerts. We also considered any special offers available to customers.
Savings Accounts and CDs (20%): Our focus was on important factors such as the Annual Percentage Yield (APY), minimum deposit requirements, account flexibility, FDIC insurance coverage, special savings offers, variety of CDs, automatic renewal options, and early withdrawal penalties.
Credit Cards (15%): We analyzed rewards programs, annual fees, introductory bonuses, travel benefits, APR, and balance transfer options offered by each bank's credit cards to provide a comprehensive comparison of available features.
Lending Options (15%): We assessed the variety of loan options provided, including personal loans, student loans, mortgages, secured loans, HELOCs, and Home Equity Loans, offering insights into the banks' lending capabilities.
Customer Experience and Bank Reputation (20%): Our evaluation included an analysis of online banking and mobile app usability and ratings, accessibility of customer support, online reviews, JD Power research, Trustpilot ratings, and overall financial stability, providing a holistic view of customer experience and reputation.
Compare PNC With Other Banks
Chase has some great features including a massive selection of credit card options. Both banks also offer some great mortgage packages. PNC also has some innovative credit card options, and you can also access personal loans.
Read Full Comparison: Chase vs PNC Bank: Which Bank Account Is Better?
The Wells Fargo service is even more extensive. Checking accounts, various savings accounts, mortgages, loans, and investment options such as IRAs, 401ks, and wealth management solutions are all available.
PNC offers checking and savings accounts, home loans, mortgages, investments, student loan refinancing, and a variety of credit cards.
Read full comparison: Wells Fargo vs PNC: Which Bank Account Wins?
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Compare Fifth Third Versus Other Banks
We believe Chase is the preferred option in this battle. But, there are significant differences to know. Here's our comparison: Chase vs. Fifth Third Bank
While Bank of America and Fifth Third Bank offer a range of banking services, Fifth Third is our winner in this competition. Here's why: Bank of America vs. Fifth Third Bank
Fifth Bank may be better than Wells Fargo when it comes to checking accounts, but is it enough? See our complete comparison, and our winner: Wells Fargo Bank vs. Fifth Third Bank
Huntington and Fifth Third Bank provide various banking services, and figuring out which is best can be tricky. Here's our comparison: Fifth Third Bank vs. Huntington Bank
Overall, we like Fifth Third a bit more than Truist bank, mainly due to the various checking options. Truist is better in credit cards.
Our winner is U.S. Bank as it offers better package banking than Fifth Bank, but there are cases when Fifth Bank wins. Here's our comparison: U.S. Bank vs. Fifth Third Bank
