Fifth Third Momentum Banking account holders can get free tax returns via direct transfer up to five days early.1 Fifth Third is one of the few banks in the country that provides this service to consumers. Customers may receive tax returns up to five days earlier, which is just one way Fifth Third is pushing the boundaries of what is possible in banking. According to the IRS, nine out of ten consumers who file online and choose direct deposit receive refunds in fewer than 21 days. Fifth Third Momentum Banking clients will benefit from a five-day shorter wait time.
“Tax refunds are a source of income for many Americans,” stated Ben Mendelsohn, SVP and Director of Product Management at Fifth Third. “By automatically distributing tax returns up to five days early, we assist our customers in achieving their goals faster, such as debt repayment or saving for a large purchase. “Getting tax refunds to our customers up to five days early is another way we make banking less stressful.”
Fifth Third pioneered early payments in 2021, allowing clients to get wages up to two days early. Fifth Third was one of the first banks to provide early payments for gig workers and many government and retirement benefit recipients in 2022 and one of the first to issue tax refunds up to five days early in 2023. Fifth Third clients can make early payments for free as part of their Momentum Checking package. Customers interested in filing taxes can find more information at Fifth Third’s tax resource center. Fifth Third Momentum Banking is an innovative banking system that uses cutting-edge financial technology to provide consumers with faster, simpler, and more secure access to their money.
Details about Fifth Third:
Fifth Third Bank has a long history of innovation. Since 1858, we’ve helped individuals, families, companies, and communities thrive by providing innovative financial services that improve people’s lives. Our record of firsts is long and continues to grow as we investigate the convergence of tech-driven innovation, motivated people, and targeted community impact. Fifth Third is one of the few US-based banks selected to be one of Ethisphere’s World’s Most Ethical Companies for multiple years. With a dedication to caring for our customers, workers, communities, and shareholders, our mission is to be the best-performing regional bank in the country and the bank that people appreciate and trust.
