Top Class Actions’s website and social media posts use affiliate links. If you make a purchase using such links, we may receive a commission, but it will not result in any additional charges to you. Please review our Affiliate Link Disclosure for more information.
Fifth Third Bank has agreed to a $9.5 million settlement of a class action lawsuit concerning the way it issued overdraft fees. If you paid overdraft fees related to a Fifth Third debit card, check card and/or bank card, you could receive up to three times the amount you were charged from the class action settlement.
According to the Fifth Third class action lawsuit, Fifth Third Bank posted debit card transactions and/or ATM withdrawals in non-chronological order so that the bank could maximize the number of overdraft fees it charged to customers who had insufficient funds. Fifth Third Bank denies any wrongdoing, but has agreed to establish a $9.5 million settlement fund to settle the case, entitled Schulte v. Fifth Third Bank.
If you had a Fifth Third bank account at any time between October 21, 2004 and July 1, 2010, and incurred at least one overdraft fee as a result of the “re-sequencing” of at least one Fifth Third debit card transaction in non-chronological order, you’re considered a member of the settlement class and eligible to receive a cash payment from the Fifth Third overdraft fee settlement.
As part of the Fifth Third overdraft class action settlement, class members who submit valid claim forms by the deadline of May 2, 2011 will be eligible to receive up to three times the amount of overdraft fees they claim they were charged, depending on the total amount of valid claims submitted. If you do not have all of your bank records to support your claim, and your claim is based only on your best knowledge and belief, Fifth Third has the right to contest your claim. Claim forms can be downloaded or submitted online at the Fifth Third Overdraft Settlement Administrator website: www.overdraftsettlement.com.
For more information on how to file a valid claim form for the Fifth Third Overdraft Fee Class Action Lawsuit Settlement, see our Open Lawsuit Settlements section.
Updated November 30th, 2010
All class action and lawsuit news updates are listed in the Lawsuit News section of Top Class Actions
Top Class Actions Legal Statement
417 thoughts onFifth Third Bank Overdraft Fee Settlement
Fifth Third Bank Overdraft Fee Settlement
I’ve had a early direct deposits through my job. Went shopping and to have to check my account three days later to find that Every penny i’ve spent was Overdrafted and leaving with a 565.00 balance to clear on my next deposit was mortifying. 5/3 told me oh I cannot do anything about this and that they give a cusion so we can make payments even though our deposit was pending WTF… RIP off!!!
Fifth Third Bank Overdraft Fee Settlement
Bob – I’m not denying that I mis-managed my account but just like so many others I live payday to payday & share an account with my spouse which makes it a challenge to keep up with all the transactions. My issue with 5/3 is they re-sequenced processing to benefit their selves and that is wrong. It wasn’t right when there were times I should have been only charged 1 overdraft fee but due their policy 1 fee multiplied into several fees. Trust me banks thrive on this and they have made plenty of money on people like us who don’t have extra income saved up to keep our accounts from becoming overdrawn & my suggestion from my bank was to open the Early/Access account which is nothing but a cash advance that kept me from going to one of those places & allowed me to borrow the money from 5/3 at the same outrageous interest fee as those other places so in the end they would still bank off of me!!
Fifth Third Bank Overdraft Fee Settlement
I really hope it’s in July because that money that was stolen from me from 5 3 will help a lot now…
Fifth Third Bank Overdraft Fee Settlement
Rec’d a voice mail from an attorney of the Plaintiff, and he said that they may start to print and mail checks in July at the earliest. :'(
Fifth Third Bank Overdraft Fee Settlement
I had gotten myself in trouble with early withdrawals. Then transitioned into a new job which went into legal lidigation. I won but it took sevaral weeks. At that same time the current job at which I am still employed, made a payroll error causeing me to not be paid for over three wks. Both payments came at the same time. I paid 5/3 all money owed with one early withdrawal set to be paid on time in two wks and left the money in.to cover payment. 24 hrs later my acct was overdrawn. They say it was a check. I never had checks and they could not produce one as proof. This acct has now ballooned to 700+ and climbing at no fault of mine. I submitted the forms for the class action law suit.sevaral months ago, and heard nothing. Collectors say if I pay this money I don’t owe I will receive my due from settlement. BS I WILL NOT PAY WHAT I DONT OWE.
Fifth Third Bank Overdraft Fee Settlement
You guys are just trying to cash in money on mistakes that you made by not managing your accounts better. 5/3 Bank isn’t doing anything that majority of the banks are doing. If you keep overdrawing your accounts than you don’t need banks account. Banks do not hold direct deposit your employers, social security or whenever you’re getting direct deposit tells banks when to deposit funds they also have a certain time which is usually between 7 pm and 8pm est. to send the bank notification of deposit before the banks can make a direct deposit available. If you want to file claims for overdraft fees than do the research yourself to get the information stop calling the banks or going to your financial center asking to have fee waives when it is your responsibility to know what’s in your account. Banks manage money but it is your responsibility to not spend what you don’t have. The banks provide you with the resources to manage your accounts.
f u
You r just another corporate c*cksuc ker. probably 40 yrs old and still living off mommy and daddy so shut your pie hole and respect people that actually live paycheck to paycheck and cant afford a hundred dollar overdraft charge for two dollars they spent on a loaf of bread to feed their family
you should know your facts you assumed youknow what u r talking about . I have had several issues with showing I have direct deposit funds available only to be charged overdraft fees when my deposits were made and withdrawls were taken out and bank claiming they do deposits after withdrawls on same day. I justgot a $200.00HECK THAT I HAD NO IDEA WAS COMMING TO ME. THANKYOU TO EVERYONE WHO DEFENDED THIS AS OUR MONEY KEEPSTHE BANK IN BUISNESS.
Actually fifth third is the only bank that rearranges chronological ordering of transactioms, every other bank accepts transactions as they come in. Also, fifth third is the only bank that i know of that doesnt accept deposits before debits. Not everyone who was assessed fees is guilty of not balancing checkbooks. Mistakes happen. My husband has accidentally paid bills with my acct before when he thought it was his. Stuff happens and it’s robbery to rearrange transactions and pile charge upon charge. Its unethical
Fifth Third Bank Overdraft Fee Settlement
They definitely didn’t make it easy to provide documentation. I tried calling customer service to get dates that I had called in complaining about the way checks were processed causing multiple fees so I could know which months to order statements for & was told by the rep they couldn’t supply this & I would need to go to my branch…no help there either & I didn’t feel I should of had to pay $5 for each statement so I requested on my claim they review the entire claim period dates..will see.
Fifth Third Bank Overdraft Fee Settlement
Last week, I spoke to a secretary at one of the law firms representing the Plaintiff’s, and she said that there is another court date for May 16th, 2011 for the answer to the Fairness Hearing that occurred on March 16, 2011. Come to find out, the Judge is off that day, so the legal secretary lied? Who knows when this will be resolved. They don’t update the website, info line is useless, can’t find any info online regarding this case/my claim/status/etc, and calling got me a wrong answer. This lawsuit is bs. “It’s my money and I want it now!”….as we all do during these rough times.
Fifth Third Bank Overdraft Fee Settlement
I am the one that complained that what 5th third was doing to my account was illegal and they are continuing in a manner simular by holding direct deposits for days before allowing withdrawals. Lawyers get the bulk of the money in class action suits when it is the customer that suffers the bulk of the loss. I don’t agree they should get millions and we get pennies!!!>:o
I agree!!! I deposited $400 on friday yet Friday evening i was charged overdraft fees in the sum of $148. Sorry that they stole my kids Christmas money!! Wasn’t going to be a good one but now thanks to 5th 3rd, it’s going to extremely lousy!!!!!
Fifth Third Bank Overdraft Fee Settlement
I was also a former customer,that was charged overdraft fees eight times.
Here it is 2015 after this law suit and they are still robbing accounts!!!!!!! They place items in an order that benefits them by charging overdraft fees. Not in the order it actually came into the bank!