Truist Bank was created in 2019 after BB&T and SunTrust Banks merged. It’s headquartered in Charlotte, North Carolina, and offers a wide range of in-person and online banking services, including savings, checking, money market, and certificate of deposit (CD) accounts.
All rates and fees are current as of June 21, 2024, and are subject to change.
Truist Bank
| Checking accounts: | Starting at $5 per month |
| Savings accounts: | Open with as little as $25 |
| CD rates: | Earn up to 4.50% annual percentage yield (APY) |
Pros
- Easy-to-waive monthly fees: Many accounts do have monthly maintenance fees, but they’re easy to waive with deposit or transaction requirements.
- Free checks: Nearly every account comes with free checks and a debit card—a rarity in today’s banking landscape.
Cons
- Low APYs on most accounts: You won’t earn a ton of interest if you open a checking or savings account with Truist.
- Low monthly transaction limits: Truist limits you to only six withdrawals in savings and money market accounts per month.
With over 1,900 branches and 2,900 ATMs across the U.S., Truist Bank is an excellent pick for someone who still prefers in-person banking. It also offers nearly every kind of account you could ever want, meaning you can conduct all your financial business in one place.
If you’re searching for a bank that’ll earn you a ton of interest, Truist isn’t it. It also charges monthly maintenance fees on most accounts and, while you can probably have them waived by meeting certain requirements, it is something you’ll have to worry about each month.
Truist Bank rates and products
If you choose Truist Bank, you’ll have the choice of two savings accounts, two checking accounts, CDs, and a money market account (MMA).
| Checking accounts | 0.00% APY |
| Savings accounts | 0.01% APY |
| MMAs | 4.5% APY |
| CDs | Up to 4.50% APY |
Checking accounts
Truist Bank’s main checking account, Truist One Checking, comes with five relationship levels offering different perks. Its other account, the Truist Confidence Account, has fewer perks but is a good way to help you build a solid financial standing.
For a limited time, Truist One Checking also comes with a $400 account opening bonus if you meet certain requirements.
Truist Bank checking account features
| Account opening bonus | $400 bonus if you receive at least one qualifying direct deposit of $500 and complete 15 debit card purchases within 90 days |
| Minimum opening deposit | $50 |
| Monthly fees | $12 |
| Top APY | None |
| Check orders | Free first 10-pack |
| Check images with statement | $4 per statement cycle $5 per statement cycle for enhanced images |
| Overdraft fees | None |
| ATM fees | $3 for non-Truist domestic ATMs $5 for non-Truist international ATMs |
| International transaction fee | 3% |
| Stop payment fee | $35 |
| ATM surcharge rebates | 0 to unlimited depending on the level |
There are five different levels for the Truist One Checking:
- Level 1: Balances up to $9,999.99, no ATM rebates.
- Level 2: Balances between $10,000 and $24,999.99, one ATM rebate per month.
- Level 3: Balances between $25,000 and $49,999.99, three ATM rebates per month.
- Level 4: Balances between $50,000 and $99,999.99, five ATM rebates per month.
- Level Premier: Balances over $100,000, unlimited ATM fee rebates.
Because you just need to hold $500 or more in your account to waive the $12 monthly fee, all levels can qualify as free checking accounts. Each level also comes with free checks but levels 3, 4, and Premier all have free reorders.
The Truist Confidence account does not come with any checks. This is a feature to help you only spend the money you have.
Savings accounts
The Truist One Savings account has a monthly maintenance fee, but it can be waived if you have a Truist personal checking account, a daily minimum balance of $300, at least one $25 internal transfer per cycle, or are under 18. The Truist Confidence Savings doesn’t have a monthly maintenance fee.
Neither of these accounts is a high-yield savings account as they only offer a 0.01% APY. Currently, the best high-yield savings accounts offer APYs over 5.00%.
Truist Bank savings account features
| Minimum opening deposit | $25-$50 |
| Monthly fees | $0-$12 |
| Top APY | 0.01% |
| Monthly withdrawal limit | Six |
| Withdrawal limit fee | $5 per withdrawal (maximum of six per cycle) |
| ATM fees | One Savings: $3 for non-Truist domestic ATMs $5 for non-Truist international ATMs Confidence Savings: |
| International transaction fee | 3% |
| Stop payment fee | $35 |
The best benefit of the Truist savings accounts is that you can use them for overdraft protection on your Truist checking account.
Truist savings rates compared to current top rates*
While Truist is a great option, some institutions offer higher interest rates. Compare the rates above to this list of competitors:
Money market accounts
The Truist One Money Market Account has an appealing 4.5% APY promo rate for new customers, but the standard APY of just 0.01% makes this far from one of the best MMAs available.
Truist Bank MMA features
| Minimum opening deposit | $50 |
| Monthly fees | $12 |
| Top APY | 4.5% |
| Monthly withdrawal limit | Six |
| Withdrawal limit fee | $15 per withdrawal (maximum of six per cycle) |
| Debit card/checks included | Yes |
| ATM fees | $3 for non-Truist domestic ATMs $5 for non-Truist international ATMs |
| Foreign transaction fee | 3% |
| Stop payment fee | $35 |
An MMA provides the savings opportunities of a savings account with some of the withdrawal features of a checking account. However, the Truist account does limit you to only six transactions per month, which makes the included debit card and checks slightly less useful.
It does have a $12 monthly maintenance fee, but you can waive it by having a minimum daily ledger balance of $1,000 or more. Other helpful features include no overdraft fees and access to Zelle.
Certificates of deposit
Truist Bank currently offers two promo CD terms of five months and 12 months that you can open online with higher-than-average CD interest rates.
Truist Bank CD features
| Minimum opening deposit | $1,000 |
| Available term lengths | 7 days to 60 months |
| Top APY | 4.50% (5-month term) |
| Early withdrawal penalty | Minimum of $25 |
| Maturity grace period | 10 days |
| Automatic renewal | Yes |
A CD earns you a fixed interest rate for a set term during which your money is locked in place. If you want to withdraw it before maturity, you'll pay an early withdrawal penalty. Truist isn't upfront about the penalties but expect to pay at least $25.
Unless you're opening one of the promo CDs, interest rates are quite low at 0.01% APY. The $1,000 and $2,500 minimum opening deposits are also quite high, putting these accounts out of reach for many consumers.
Other services Truist Bank offers
- Visa gift cards: If you want to give someone a gift they'll love, Truist Visa gift cards are single-load and prepaid, with denominations ranging from $25 to $500.
- Credit cards: Truist has a variety of cash rewards, travel rewards, low rate, premium rewards, and secured credit cards.
- Personal loans: You can take out unsecured personal loans starting at $3,500, a personal line of credit starting at $5,000, or a physician line of credit with max line amounts of $50,000 to $100,000.
- Vehicle loans: Get financing for a new car, boat, or RV, with up to 84-month terms available.
- Home equity loans: A home equity line of credit (HELOC) from Truist can have variable rates as low as 7.49% APR for the first nine months.
- Mortgage and refinance loans: Buy your new property on your terms with Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, construction to permanent loans, and traditional mortgages and refinances.
- Business banking: Whether you need a small business loan or a simple business checking account, Truist can help.
- Investing services: Try out an online investment with automated or self-directed trade options.
- Financial and retirement planning: Truist retirement specialists can guide you through retirement planning with 401(k)s and individual retirement accounts (IRAs).
- Insurance: Truist offers nearly every kind of insurance you could require, including home, auto, motorcycle and ATV, boat, marine, RV, flood, umbrella coverage, jewelry, pet, life, and more.
Online banking
Truist offers digital banking where you can pay friends with Zelle, add Truist cards to your digital wallet, and more. One key feature that's missing, however, is the ability to open CDs online. If you want a bank where you can manage all of your finances digitally, you may prefer partnering with a fully online bank or credit union.
The Truist Bank platform and customer support
To access your Truist Bank account online, you'll need to sign up for an online account with your account number. Once you do, you can also use the mobile app on your phone. The Truist Mobile app is ranked highly by customers, with 4.8 stars on the App Store and 4.7 stars on the Google Play Store.
If you run into any problems along the way, phone customer service is available Monday through Friday, 8 a.m. to 8 p.m. Eastern time. They're also around Saturday from 8 a.m. to 5 p.m. ET. Fraud support is available 24/7. You can also schedule an appointment with your local branch using an online booking form.
Is Truist Bank secure?
Truist Financial had a data breach affecting 175 people in 2021 where an external system hacked customer Social Security numbers. A Florida couple is also suing Truist Bank because it did not verify a fraudulent payment, causing the senders to lose their money. Other customers also had fraudulent transactions posted to their accounts in the wake of the SunTrust and BB&T Banks merger.
Truist Bank user reviews
Truist currently has 1.2 stars on Trustpilot. Positive comments mostly come from customers who do their banking in person, mentioning helpful and nice tellers. On the flip side, many customers of Truist complain that the bank freezes their accounts frequently due to fraud suspicions. They also complain about the various fees Truist charges.
Compare Truist Bank alternatives
 Truist Bank |  Axos Bank |  Citizens Bank |
|---|---|---|
| Top savings APY | Top savings APY | Top savings APY |
| 0.01% | 0.61% | 4.50% |
| Top checking APY | Top checking APY | Top checking APY |
| 0.00% | 3.30% | 0.05% |
| Top CD APY | Top CD APY | Top CD APY |
| 4.50% | 4.50% | 4.50% |
| Other services | Other services | Other services |
| Visa gift cards Credit cards Personal loans Vehicle loans Home equity loans Mortgage and refinance loans Business banking Investing services Financial and retirement planning Insurance | Personal loans and lines of credit Auto loans Home equity loans Mortgages Credit cards Investment accounts Commercial lending | Credit cards Home loans Student loans Investing and wealth management IRAs Financial education Business banking |
| Learn more | Learn more | Learn more |
| Compare more online bank alternatives | View offer at Axos | View offer at Bankrate |
Is Truist Bank right for you?
The real benefit of using a top 10 U.S. commercial bank like Truist is convenience. It offers every financial service you need under one roof. That said, if you prefer higher APYs and lower fees over convenience, you may want to consider another bank.
Frequently asked questions
Is Truist a good bank to bank with?
Truist can be a good bank to use if you're looking for in-person branches that offer a wide range of services.
Is Truist Bank safe from collapse?
Truist Bank was rated as "stable" by S&P, Moody's, Fitch, and DBRS Morningstar, meaning it's likely safe from collapse.
What was the old name of Truist Bank?
Truist Bank previously had two different names: SunTrust and BB&T. These banks merged to form Truist in 2019.
