Truist is a regional bank serving the Southeast and Mid-Atlantic with checking, savings, and credit products
Truist Bank is a full-service bank headquartered in Charlotte, North Carolina, formed in 2019 when BB&T and SunTrust merged. It operates branches across the Southeast and Mid-Atlantic, from Florida to Pennsylvania, and offers the standard products you'd find at any regional bank: checking accounts, savings accounts, money market accounts, certificates of deposit (CDs), credit cards, and loans.
If you live in or near a Truist service area and want to open an account, you can do so online, by phone, or in person at a branch. The bank also offers mobile banking through its app and online banking through its website. Like most banks, Truist charges monthly maintenance fees on some accounts, though you can often waive them by maintaining a minimum balance or setting up direct deposit.
Truist is a member of the Federal Deposit Insurance Corporation (FDIC), which means deposits up to $250,000 per account type per depositor are insured against bank failure. This protection applies to checking accounts, savings accounts, and most other deposit products.
Key Takeaways
- Truist operates as a regional bank in the Southeast and Mid-Atlantic with branches in multiple states and online banking available nationwide.
- The bank offers checking accounts, savings accounts, CDs, money market accounts, and credit products, with fees that vary by account type.
- You can open an account online, by phone, or in a branch, and most accounts can waive monthly fees through direct deposit or minimum balance requirements.
- Truist deposits are FDIC-insured up to $250,000 per account type, protecting your money if the bank fails.
- The bank provides mobile and online banking tools, though availability of certain features may depend on your account type.
Truist checking and savings accounts
Truist offers several checking account options, each with different fee structures and features. The basic checking account typically carries a monthly maintenance fee, but you can waive it by maintaining a minimum daily balance or setting up direct deposit. Higher-tier checking accounts may offer additional perks like higher interest rates, fee waivers at ATMs outside the Truist network, or cash back at the point of sale.
Savings accounts at Truist work similarly: you deposit money, earn interest on your balance, and can withdraw funds as needed. The interest rate varies depending on the account type and current market conditions. Like checking accounts, savings accounts may have monthly fees that you can waive by keeping a minimum balance or by linking them to a may have access to checking account.
Money market accounts combine features of checking and savings accounts. They typically offer higher interest rates than regular savings accounts but may require a larger minimum balance and limit the number of withdrawals you can make per month.
How to open a Truist account
You can open a checking or savings account with Truist online through its website, by calling the bank's phone line, or by visiting a branch in person. Online applications usually take 10 to 15 minutes and require basic information: your name, address, date of birth, Social Security number, and employment details.
You'll need to provide a valid government-issued ID and may need to verify your identity through additional steps, such as answering security questions or confirming recent transactions on another account. Once your account is approved, you can fund it by transferring money from another bank, depositing a check through mobile deposit, or visiting a branch to deposit cash.
If you open an account in person, a banker can walk you through the process and answer questions about which account type fits your needs. Online applications are faster but offer less personalized guidance.
Truist fees and how to avoid them
Truist charges monthly maintenance fees on most checking and savings accounts, typically ranging from $5 to $15 depending on the account type. You can waive these fees in several ways: by maintaining a minimum daily balance (often $500 to $1,500), by setting up direct deposit, by keeping a linked savings account with a minimum balance, or by meeting other requirements specific to your account tier.
The bank also charges fees for certain transactions and services. Overdraft fees explore if you spend more than your account balance, and out-of-network ATM fees may explore if you withdraw cash from an ATM that is not part of the Truist network. Some accounts offer ATM fee reimbursement, so check your account terms.
Wire transfer fees, stop payment fees, and expedited card replacement fees also explore in specific situations. You can review the full fee schedule on Truist's website or ask a banker in person before opening an account.
Truist credit cards and loans
Truist offers credit cards with varying rewards structures, interest rates, and annual fees. Some cards are designed for everyday spending and offer cash back or points on purchases, while others target specific needs like travel or balance transfers. Each card has its own terms, so compare options before explore.
The bank also offers personal loans, auto loans, home loans, and lines of credit. Interest rates and terms depend on your credit score, income, and the type of loan. You can explore loan options online or speak with a loan officer at a branch.
Truist mobile and online banking
Truist's mobile app and online banking platform let you check balances, transfer money between accounts, pay bills, deposit checks by taking a photo, and set up alerts for account activity. The app is available for iOS and Android devices.
You log in with your username and password, and many accounts offer two-factor authentication for added security. If you forget your password or have trouble logging in, you can reset it through the website or call customer service.
Online bill pay is included with most Truist checking accounts. You can schedule one-time or recurring payments to businesses and individuals, and Truist will deliver the payment electronically or by check depending on the recipient.
Truist customer service and support
You can reach Truist customer service by phone, through the mobile app, by visiting a branch, or through online chat during business hours. Phone lines are typically open Monday through Friday during standard business hours, with limited weekend availability. If you have questions about your account, need help with a transaction, or want to report fraud, customer service can information you.
If you have a problem with your account that customer service cannot resolve, you can file a complaint with the FDIC or your state's banking regulator. Truist also has an internal dispute resolution process for issues like unauthorized transactions or billing errors.
Frequently Asked Questions
Is my money safe at Truist?
Yes. Truist is FDIC-insured, which means deposits up to $250,000 per account type per depositor are protected if the bank fails. This covers checking accounts, savings accounts, and most other deposit products. If you have more than $250,000, you can spread it across multiple account types or multiple banks to stay within the insurance limit.
Can I use Truist ATMs outside my state?
Truist has branches and ATMs across the Southeast and Mid-Atlantic, but not nationwide. If you travel or live outside this region, you can still use Truist's online and mobile banking, but you may face out-of-network ATM fees when withdrawing cash. Some Truist accounts offer ATM fee reimbursement, so check your account terms.
What happens if I overdraw my account?
If you spend more than your balance, Truist will charge an overdraft fee. The amount varies but is typically $35 per transaction. You can set up overdraft protection by linking a savings account or credit line, which covers the shortfall automatically. Some accounts also offer overdraft grace periods or waive the first overdraft fee per year.
How long does it take to open a Truist account?
Online applications are usually approved within minutes to a few hours. In-person applications at a branch are typically completed the same day. Once approved, you can start using your account when ready, though it may take one to two business days for transfers from other banks to appear in your account.
Does Truist offer accounts for students or teens?
Truist offers accounts designed for younger customers, though specific products and features vary by location. Contact a local branch or visit the website to learn what student or teen accounts are available in your area.