Fifth Third lets customers access paychecks early

Fifth Third lets customers access paychecks early

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Fifth Third Bank Momentum Checking customers can now get access to their paychecks up to two days early.

The US lender began rolling out the Early Pay feature in some markets earlier this year to help customers avoid overdraft fees and the need to turn to payday lenders.

Fifth Third boasts that its Momentum platform gives customers the local presence of an established lender combined with the innovation of a digital-first bank.

In addition to Early Pay, customers can get additional time to make deposits to avoid overdraft fees and advances against some future direct deposits.

Tim Spence, president, Fifth Third, says: “With Early Pay and Momentum Checking’s other features, we’re giving customers the widest range of options to access their money faster and avoid fees.”

Earlier this month, PNC Bank teamed up with DailyPay and The Clearing House to offer real-time payments over the RTP network, creating the ability to fulfill employee payment needs 24/7/365.

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