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Can I buy Crypto with 53 Bank?
Fifth Third Bank (53 Bank) does not directly offer cryptocurrency trading services for customers through the online banking platform. They also do not provide any crypto custodial services for retail or institutional investors, which means you cannot store your coins with their FDIC insured accounts.
That said, Fifth Third does allow its customers to deposit and withdraw US Dollars (USD) from licensed digital asset trading platforms, if they want to invest in the asset class.
How to buy Crypto with Fifth Third online
As outlined above, the best way to buy cryptocurrencies like Bitcoin and Ethereum with a Fifth Third Bank account is with a licensed crypto broker. Our top pick for investors in the US is Uphold because they offer fast and cheap USD deposits from Fifth Third to trade 200+ crypto assets and hundreds of stocks, ETFs, commodities and more with zero fees.
You can follow the simple guide below to get started:
- Sign Up: Create an account on Uphold and complete your verification (personal or company).
- Connect Account: Select the currency you want deposit on the Uphold Platform (USD + 30 more).
- Deposit Funds: Connect your Fifth Third Bank account or Debit/Credit Card to quickly deposit USD.
- Buy Crypto: The final step is to find the cryptocurrency you want to buy and execute your trade.
Is Fifth Third Bank Crypto Friendly?
Fifth Third Bank does not prohibit their customers from investing in Bitcoin, cryptocurrencies or other aspects of the rapidly growing meta-economy. This means you can safely deposit USD into licensed crypto exchanges to trade any available asset.
About Fifth Third Bank (53 Bank)
Fifth Third Bank (53 Bank) is one of the largest banks in the United States. The bank has over 1,000 branches and more than 2,500 ATMs across 10 states. Fifth Third Bank offers a wide range of financial services, including personal banking, business banking, investment services, and mortgage loans.
53 Bank is licensed and regulated by the Federal Deposit Insurance Corporation (FDIC). The bank is a member of the FDIC's Transaction Account Guarantee program, which provides deposit insurance for transaction accounts.
Fifth Third has received generally positive reviews from customers. However, there have been some complaints about the bank's customer service and fees. Overall, Fifth Third Bank is a solid option for banking services in the United States.
Fees for buying Crypto with Fifth Third
There are two main fees you need to be mindful of when buying Cryptocurrency with a Fifth Third Bank - these are:
- Deposit Fees: The fees you pay to deposit USD to an exchange
- Trading Fees: The fee charged to buy Bitcoin with USD
With the Uphold platform, both the Deposit Fees and Trading Fees are completely free for customers depositing USD from a Fifth Third bank account. This makes them the most fee-friendly option available.
Final Thoughts
Fifth Third Bank does not offer direct crypto trading services for customers, but they do allow USD deposits to licensed digital asset exchanges. Customers can use these exchanges to buy cryptocurrencies with their Fifth Third bank accounts. We recommend Uphold as our top pick for investing in the crypto space due to their low fees, wide range of assets and reputable service. Finally, be sure to double check all fees associated with the platform you choose before making a purchase. Happy trading!
