Fifth Third Bank Loss Draft General Information
- Phone:Fifth Third Bank loss draft phone numbers
- Fax:Fifth Third Bank loss draft fax numbers
- Regular Mail:Fifth Third Bank loss draft mailing address
- Overnight Mail:Fifth Third Bank loss draft overnight mailing address
- Monitor Amount:Fifth Third Bank loss draft monitored amount
- Email Address:Fifth Third Bank loss draft email address
- Web Address:Fifth Third Bank loss draft web address
Required Documents for Fifth Third Bank Endorsement
Total Claim Under $10,000
Tips & Techniques for Fifth Third Bank Claims Disbursement - Insurance Claims
Fifth Third Bank is a fairly straight forward endorsement. Their standard/default monitored amount is $10,000 although they cite that "sometimes the monitored amount could also be the remaining loan balance." So as always, get your Third Party Authorization signed, faxed in, and call their loss draft department to make sure.
On the downside, Fifth Third Bank is one of the few banks that charges Your Company to get an inspection -- $40 to be exact. So as in all these instances, make sure that you are going to be at 100% before getting your final inspection or at the percentage you need if you have to get draws. Also, if you are getting draws, Fifth Third Bank states that "All draws are mailed via regular mail unless you request it to be sent overnight. All packages sent overnight are subject to a $10 fee." So if you know that you will be getting a couple draws, make sure to send in a $20 check ($60 if you include the inspection fee) so that you don't have to wait two weeks to get your draw!
Fifth Third Bank only has two proprietary required documents, both of which we have available for Your Company. Get these and the other required documents signed and sent in and you should have no issues.
Now go and Get Your Money Faster!