Despite existing for more than a hundred years and becoming one of the most acknowledged banks in America, 5/3 Bank still holds its central headquarters in Ohio. This tells you something. This bank with its weird name certainly has created a reputation both good and bad depending on who you’re speaking to and which reviews you prefer to read and consider as gospel truth.
What is the 5/3 bank most known for? Aside from being large in terms of the number of branches (and having 6 million customers), 5/3 bank allows its clients and customers to:
- Make loans.
- Apply for mortgage coverage.
- Take out a credit card.
- Make deposits and withdrawals through regular banking.
- Ask for and receive financial advice.
Best of all, this bank also provides online services. So do all other banks, you say. Yes, then again as mentioned, their headquarters is still in Ohio. This tells you that the 5/3 bank is a traditionalist.
Now if you have an online relationship with this bank and you are interested to see if you can balance your checking account using online means, here’s how:
- Go to any of the bank’s branches and open an account. The checking account that you want to apply for is actually free but make sure there isn’t a catch 22 by asking questions. Do not stop until you get the answers that will assure you that it is indeed free as advertised.
- Get cleared for online access. After the proper documentation has been filed and your checking account has been opened, let the bank representative know that you want online access upon which you will be given a PIN (Personal Identification Number) for this purpose. Keep your PIN confidential so no one gets to access your checking account but you.
- Go online and enter the 5/3 website. You will be asked to enter your PIN to gain entry. Navigate your account freely to check if something is amiss. Include all the existing accounts and such.
- Choose your checking account number. Once this is accomplished, you will see your current statement on the webpage. In your statement you will see your balance that is what you actually have in your checking account and the available balance that reflects deductions that will be applied upon finalization of the sum of the deductibles. This can be anything from taxes, service fees, and surcharges (if used in tandem with a credit card).
- Review all the transactions completed and those that are in process. Did you pay your bills using your checking account? Did you issue checks for your rent? You have to go back to your physical checkbook to see when you issued it and who endorsed it for cash. Make doubly sure that the figures add up and if the bank hasn’t cleared the amount you had written off, add this to the figures you have in your head. Again, the figures should match to what has gone out to what has actually been cleared. If you notice something amiss, file an online complaint or head out to the bank and speak with the same 5/3 representative for clarification.
Do not be surprised to discover that the 5/3 bank is just like any bank with flaws in the system. The most important thing is that their people are doing their best to address your complaints efficiently and to your satisfaction. If that is not the case, you will be better off looking for another bank that goes beyond mere lip service.