Can You Buy Crypto with Fifth Third?
Yes, it is possible to buy crypto with Fifth Third Bank, but there are some requirements that must be met. To do so, you will need to use a FINRA-regulated cryptocurrency exchange that accepts ACH transfers and deposits from Fifth Third Bank accounts.
Fifth Third Bank does not offer its own digital asset trading platform, but it does allow its customers to transfer funds to approved exchanges in the USA to buy and sell digital assets. These exchanges are regulated by FINRA (the Financial Industry Regulatory Authority), which ensures that they comply with federal securities laws and other regulations.
How to Buy Bitcoin and Crypto with Fifth Third Bank
As mentioned above, the easiest way to invest in cryptocurrencies with a Fifth Third Bank account is with a regulated crypto-broker in the United States. Based on our research, the best exchange for Fifth Third bank account holders is eToro because it supports fast and free USD deposit methods via ACH Bank Transfer, Debit Card, Credit Card and more.
Follow our simple guide to buy digital currencies directly from your Fifth Third account:
- Visit eToro to sign up and verify your identity.
- Select the 'Deposit Funds' button on the bottom left of your screen.
- Select the amount of USD you want to deposit and your preferred deposit method (e.g Fifth Third ACH Transfer or Debit/Credit Card).
- Complete the USD deposit and use the funds credited to your account to invest in cryptocurrencies.
What are the Fees?
Investing in cryptocurrencies using Fifth Third Bank can be fee-free with eToro. The platform charges zero deposit fees when using Fifth Third ACH Transfer, as well as zero trading fees. With eToro's industry-leading spreads averaging between 0.5% - 1%, you can invest in cryptocurrencies without incurring significant costs. Unlike other exchanges, eToro provides an affordable option for investors looking to enter the crypto market.
53 Bank Digital Asset Policy
Fifth Third Bank appears to be crypto-friendly, as they have been known to work with cryptocurrency companies in the past. The bank also allows customers to deposit funds into regulated trading platforms via ACH transfer and other methods, which means customers do not have to worry about having their accounts closed for engaging in crypto activity.
Overall, Fifth Third Bank seems to be relatively friendly towards cryptocurrency, but it is always best to err on the side of caution when dealing with any financial institution.
About Fifth Third Bank
Fifth Third Bank is a U.S. regional banking corporation, headquartered in Cincinnati, Ohio at Fifth Third Center, and is the principal subsidiary of Fifth Third Bancorp, a diversified financial services company. The company operates under an Ohio charter. As of October 2022, the company had $142 billion in assets and operated 1,262 full-service Banking Centers and 2,439 ATM locations in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina.
In addition to traditional banking products and services, the company provides investment advisory services, merchant processing solutions and title insurance. Fifth Third also owns a minority stake in Vantiv, a publicly traded credit card processor. The company's Fifth Third Securities subsidiary provides investment banking and capital markets services.
Bottom Line
Truist Bank does not offer Bitcoin and cryptocurrency investing services through its online banking platform, Fifth Third Bank allows its customers to transfer funds to approved cryptocurrency exchanges in the USA to buy and sell digital assets. For Fifth Third Bank account holders, eToro is our recommended exchange due to its instant and free USD deposits, industry-leading trading fees and spreads, and FinCEN and FINRA licensing. With eToro, investing in cryptocurrencies can be fee-free and affordable, making it an accessible option for those looking to enter the crypto market.
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