Updated
Updated · WDIV ClickOnDetroit · Jul 5
Fifth Third Shifts Comerica Customers to New Systems on Sept. 8 After $10.9 Billion Deal
Updated
Updated · WDIV ClickOnDetroit · Jul 5

Fifth Third Shifts Comerica Customers to New Systems on Sept. 8 After $10.9 Billion Deal

2 articles · Updated · WDIV ClickOnDetroit · Jul 5

Summary

  • Sept. 8 marks the switch of Comerica customers onto Fifth Third’s banking systems, requiring them to create new user IDs and passwords in the Fifth Third app or website.
  • Debit cards, ATMs, direct deposits and ACH payments will transfer automatically, while welcome packets are set to arrive in August and the bank is adding staff for an expected spike in customer questions.
  • More than 70 branches are slated to close as part of the merger, though Fifth Third said it is trying to relocate affected employees or help them find other roles.
  • The all-stock acquisition was finalized in February, and Fifth Third says the combined network will leave it with the largest branch footprint in southeast Michigan and Detroit.
  • Comerica Park’s naming rights remain undecided, with the bank saying it will make a decision in the offseason.

Insights

Will Fifth Third's promised digital banking upgrades outweigh the loss of 75 local branches for its new Michigan customers?
With the Detroit Tigers' stadium in limbo, will Fifth Third's next big play be renaming the iconic Comerica Park?