FAQ: Why does my Tank App have a Fifth Third Bank account?
Last updated February 25, 2026
When you use the Tank App, you might notice Fifth Third Bank mentioned in your account details or on your bank statements. This is because Tank is a financial technology company, not a bank. To provide you with secure banking services, we partner with Fifth Third Bank, which serves as the custodian for your funds.
What is a Custodian Bank?
A custodian bank is a "high-security vault" for your money. While you use the Tank App to to receive and manage your funds, the actual cash is held safely at Fifth Third Bank.
As our custodian, Fifth Third is responsible for the safekeeping and administration of your assets. They ensure that your money is accounted for and handled according to strict banking regulations.
How this provides value to you
Having a major institution like Fifth Third Bank as our custodian offers several layers of protection and value:
- Regulatory Oversight: Fifth Third Bank is a member of the FDIC and is subject to rigorous federal oversight. This ensures that the systems holding your money meet the highest standards of security and compliance.
- FDIC Insurance: Because your funds are held at Fifth Third Bank, they are eligible for FDIC "pass-through" insurance up to the legal limit (currently $250,000). This provides peace of mind that your deposits are backed by the full faith of the U.S. government.
- Reliable Infrastructure: By leveraging the infrastructure of one of the largest banks in the country, we can ensure that your transfers, deposits, and withdrawals are processed quickly and accurately.
Can I link my existing Fifth Third Bank account to Tank?
No - while Fifth Third Bank acts as the custodian for your Tank Account, the two systems are separate.
- Separate Logins: You cannot access your Tank funds through Fifth Third’s online banking portal or mobile app using your existing Fifth Third credentials.
- In-Branch Services: Since Tank is a digital platform, Fifth Third branch tellers do not have access to your Tank account information and cannot process transactions for you in person.
How do I obtain an official bank letter or paper statement from Fifth Third Bank?
If you need an official account verification letter or a formal bank statement, reach out to the Tank Support team:
- Email: support@tankpayments.com
- Subject Line: Request for Bank Letter / Statement
We will coordinate with our partners to provide you with your requested documents.