How to Buy Crypto with Fifth Third Bank
- Fifth Third has taken digital asset strategy to its board level and works with crypto infrastructure firms like Stripe and Fireblocks.
- None of that adds a crypto purchasing feature for retail customers, who still need an outside exchange.
- Two banks the old version of this guide recommended as crypto-friendly alternatives, Silvergate and Metropolitan Commercial, no longer serve that role.
Fifth Third Bank has quietly become one of the more crypto-engaged regional banks in the country, without adding anything a retail customer can actually trade on.
The bank has stood up a dedicated crypto working group, elevated digital asset strategy to the board level, and told analysts it wants to offer reserve accounts and payment services to stablecoin and crypto infrastructure firms, building on existing relationships with companies like Stripe and Fireblocks.
For someone with a regular checking account, that ambition translates to one practical thing: Fifth Third stays a reliably transfer-friendly bank rather than becoming a crypto product in its own right.
Can You Buy Crypto With Fifth Third Bank?
Not directly. Fifth Third doesn’t offer in-house crypto trading, but it approves USD transfers to regulated exchanges without the friction some banks impose. That’s the extent of its role here, and the bank’s broader institutional ambitions don’t change it.
Step-by-Step Guide: How to Buy Crypto with Fifth Third Bank
Create a Kraken account.
Sign up on Kraken’s site with an email address and password, then accept the terms of service.
Verify your identity.
Kraken asks for a government-issued ID, as well as proof of residence. Verification is usually completed within 48 hours.
Link your Fifth Third Bank account.
Under funding options, choose to add a bank account, search for Fifth Third, and enter your account details.
Transfer USD funds.
Bank transfers are free and typically usable within two to five business days. Worth comparing current sign-up offers across exchanges before moving a larger amount for the first time.
Buy your cryptocurrency.
Select your preferred trading pair, enter the amount, and confirm.
A Correction on Alternative Banks
An earlier version of this guide suggested Silvergate Bank and Metropolitan Commercial Bank as crypto-friendly alternatives for anyone whose primary bank restricts transfers. Neither holds up today.
Silvergate collapsed in 2023 following the FTX fallout and surrendered its banking charter in 2024. Thus it no longer operates as a bank at all. Metropolitan Commercial Bank exited its crypto-related business that same year and has explicitly stated it no longer serves crypto clients.
For customers who do run into transfer friction, Ally Bank and Juno are more current options, both regularly cited as workable for funding regulated exchanges without the restrictions some larger banks impose.
Conclusion
Fifth Third’s growing interest in crypto infrastructure is a story about payments and stablecoin plumbing, not about retail trading. For actually buying a coin, the process is the same as it’s always been: fund an outside exchange, with Kraken remaining a solid, well-regulated choice for Fifth Third customers.
FAQs
Can I directly buy cryptocurrencies through Fifth Third Bank?
No. Fifth Third doesn’t offer crypto trading directly. You can transfer USD from a Fifth Third account to a regulated exchange like Kraken to make a purchase.
Is Fifth Third building crypto products?
It’s building infrastructure aimed at stablecoin and crypto companies, including relationships with Stripe and Fireblocks, not a retail trading feature. Retail customers still rely on outside exchanges.
Are Silvergate and Metropolitan Commercial Bank still crypto-friendly options?
No. Silvergate no longer exists as a bank following its 2023 collapse and charter surrender the following year. 2023 also saw Metropolitan Commercial Bank exiting crypto-related services entirely.
Is buying cryptocurrency through Fifth Third Bank safe?
Yes, as long as the receiving exchange is properly regulated. Fifth Third’s role is limited to approving the transfer, and Kraken’s FinCEN registration covers the security standards that matter on the exchange side.
Sources
