How to Get Your Fifth Third Bank Overdraft Fees Waived With DoNotPay
Every time you overdraw your checking account, you are charged a fee. Overdraft fees are an important source of revenue for retail banks, including the Ohio-based Fifth Third Bank. Fifth Third Bank overdraft fees, in particular, are expensive and can add up quickly. But the Fifth Third Bank is not the only culprit.
Since the onset of the Covid-19 pandemic, the nation's largest banks, including Bank of America, Wells Fargo, Citizens Bank, Chase, and TD Bank have been increasing the dollar amounts associated with going below the $0 mark. According to a recent study, the average cost to overdraw a checking account rose to a record $33.58 in 2021.
Here's a summary of overdraft charges among some of the leading banks in the United States:
|Bank||Cost of Overdraft Fees per Item|
|Fifth Third Bank||$37|
|Bank of America||$35|
And it's not just overdraft fees. Banking fees, in general, have become a concern for customers over the past year or so. ATM charges, Bank of America ATM fees in particular, and charges on PayPal transfers are climbing. What's most striking about banking fees and overdraft fees, in particular, is that they are overwhelmingly shouldered by those who can least afford them.
DoNotPay has set out to fix that. We can help you appeal overdraft fees as well as other banking fees and avoid paying them. Read on to learn more.
Why Do Fifth Third Bank Charge Overdraft Fees?
Fifth Third Bank will charge you overdraft fees when you spend more money than you have in your checking account, any day of the week. You can think of Fifth Third Bank overdraft fees as a convenience charge for the ability to spend more than you have in your account.
Fifth Third Bank Overdraft Fees Explained
An overdraft is basically a small loan meant to be paid back shortly after the transfer. It's when a purchase overdraws your account, and the bank covers the difference, so the transaction goes through. Overdraft charges can be astronomical.
Fifth Third Bank, for instance, will charge you $37 when your bank account is overdrawn, which is currently the highest overdraft fee out of any bank in the nation. They can charge you up to five times a day. If you consider these overdraft fees unfair, you are not alone.
Will Fifth Third Bank Refund/Waive Overdraft Fees
In most cases, overdraft fees are excessive and predatory. Overdraft fees tend to punish lower-income people for not having enough money in the bank. Thankfully, many banks, including Fifth Third Bank, will refund overdraft charges if you can prove it was unjustified.
You can request an overdraft refund in any of the following scenarios:
- Fraudulent transactions
- Banking error leading to faulty charges
- A mistake on your part
Keep in mind that an overdraft refund is not guaranteed no matter the situation. Check out Fifth Third Bank overdraft solutions here.
How to Get Refunds/Waivers on Overdraft Fees on Your Own
It's not easy to get Fifth Third Bank or any other financial institution for that matter, but that shouldn't stop you from trying. All you have to do is contact the bank when you notice the fee. You can:
- Call the bank's customer service
- Send them an email
- Write a letter
- Request the refund in person
Be polite to the bank's agent and explain what happened in as much detail as possible. If you are lucky, the agent will remove the charge for you and let you know that they can only do it a limited number of times.
Next Steps for Getting Overdraft Refunds/Waivers if You Can't Do It Yourself
In many cases, the bank's agent will tell you they can't refund your overdraft charge. At this point, you can hang up the phone and try again to see if you get a more forgiving agent. This process can be frustrating and lengthy. If you still can't get anywhere, try another approach. For instance, DoNotPay offers an easier way to get overdraft refunds from your bank.
How to Get Overdraft Fees Refunds/Waivers With the Help of DoNotPay
DoNotPay offers a fast, easy, and convenient way to get a refund for overdraft fees. If you want to get overdraft fees waived with DoNotPay but don't know where to start, DoNotPay has you covered in 4 easy steps:
- Open the DoNotPay Fight Bank Fees product.
- Enter the name of your bank.
- Verify the last 4 digits of your bank account.
- Choose which fees you want to waive, including overdraft, ATM, and transaction fees.
DoNotPay can waive ALL bank fees, not just overdraft fees. Don't let banks take advantage of you with unfair fines and fees. File an appeal and get them waived using DoNotPay.
Why Use DoNotPay to Waive Overdraft Fees
Using DoNotPay to waive or refund bank overdraft fees is:
- Fast. You don't have to spend hours trying to get unfair overdraft charges removed.
- Easy. DoNotPay automates the entire process, allowing you to waive overdraft fees in a few clicks.
- Successful. DoNotPay boasts a very high success rate when it comes to getting unfair bank fees removed.
What Else Can DoNotPay Do?
Dealing with overdraft fees is just one of the many things DoNotPay can help you with. Here are other problems our robot lawyer can help you solve:
- Avoid overdraft fees
- Deal with credit card issues
- Find unclaimed funds
- Return gift cards for cash
- Get help with bills
- Create a revocable living trust
Subscribe to DoNotPay services today to get a refund for overdraft fees and other banking charges.