About Truist Bank
Truist Bank is headquartered in Charlotte, North Carolina, and is one of the top 10 largest banks in the country by assets. It can trace its history back to 1872 and the Branch and Hadley Merchant Bank. In 2019, Branch Banking and Trust Company merged with SunTrust Banks to become Truist Bank. The bank operates more than 2,700 branches in 15 states and Washington, D.C.
Truist Bank Overview
Truist Bank offers individuals as well as businesses a wide range of banking products and services. Truist is worth banking with if you live in one of the states it operates in and if you appreciate in-person banking as well as access to a full range of financial services. It operates more than 2,700 branches and more than 3,000 ATMs throughout the country. The rates it offers on its accounts aren't the best, but the fees are relatively low for the most part.
| More than 2,700 branches in 15 states and Washington, D.C. | Yields are not very competitive compared to online banks |
| Full range of banking products such as savings, checking, money market and CD accounts | CDs must be opened in-person at one of the branches |
| ATM fee rebates available in some states |
Truist Bank Product Offerings
Savings Accounts
A savings account is a deposit account at a bank or credit union that insures your principal up to the FDIC or NCUA limitations and generally pays a modest interest rate. Truist Bank offers three different savings accounts for personal and business accounts, all of which offer little to no yields but low fees with little to no minimum opening deposits required. Here are the latest savings account details for November 2024:
Personal and Business Savings Accounts
Checking Accounts
Truist Bank offers two personal checking accounts and three business checking accounts. None of them offer yields above the national average, but the fees are on the low end of the scale, making them useful for people who need a basic checking account for everyday use. They assess monthly service charges that can be waived by maintaining minimum account balances or through a minimum number of transactions per statement cycle. Here are the latest account details for November 2024:
Personal and Business Checking Accounts
CDs
A certificate of deposit (CD) is a form of savings account that pays a fixed interest rate on the money in the account for a certain period of time, known as a term. Truist Bank offers CDs with terms ranging from 1-months up to 5-years, all of which can only be opened in-person at one of its branches. Here are some of their top CD accounts for November 2024:
Top CD Accounts
Money Market Accounts
A money market account is an interest-bearing hybrid between a savings account and a checking account. MMAs typically offer a debit card and check-writing privileges. Truist Bank offers two money market accounts, which are in essence the same account, but one is for personal use and the other is for business. The APYs are below the national average but require only a minimal opening deposit. There is a monthly service charge for the MMAs that can be waived with a $1,000 minimum opening deposit. These accounts also impose the usual six withdrawals per month limit, which is something to watch out for. Here is the latest product information for November 2024:
Personal and Business Money Market Accounts
Bank Fees
Overdraft fee: $36 per item
Savings and Money Market Account withdrawals: $5/withdrawal beyond the limit allowed
Account closure fee: $30 if account is closed in charged-off status only
Wire transfer fee: Domestic - Incoming is $15 and outgoing is $30; International - Incoming is $20 and outgoing is $65
Non-network ATM fee: $3; $5 for international ATMs
Monthly service charge: $5-$12 depending on the account
Stop payment fee: $35
Paper statement fee: $0-$3 depending on the account
Truist Bank Features
Although Truist Bank only operates in 15 states and Washington, D.C., it offers more than 3,000 ATMs nationwide as an added convenience for its customers. Customer service is available Monday–Friday from 8 a.m.–5 p.m. EST. Outside of those hours, their automated assistance line is available for general account information and help. On the digital side, its mobile app is highly rated and can be used to manage accounts, perform basic account functions, and has useful spending and cash flow tracking summaries.
Truist Bank FAQs
Does Truist Bank have a 24-hour customer service line available?
Is it safe to bank with Truist Bank?
Does Truist Bank have branches in every state?
How do I open a Truist Bank account?
Our Take
For anyone looking for a bank that provides both online and in-person banking, Truist Bank may be a good option, as long as you live in one of the states it operates in. Although the bank offers a wide selection and variety of accounts that meet the majority of personal and business needs, none of them offer competitive interest rates. Most offer low minimum opening deposit requirements and monthly service charges that can be waived by maintaining minimum account balances that are relatively low. However, individuals seeking to grow their savings through higher APYs should consider other banks that offer more competitive rates.
Methodology
Our editorial staff continually updates the information contained on our website. Our editorial staff has analyzed virtually all of the banks and credit unions that it follows, and it does weekly rate analysis for more than 250 prominent banks and credit unions. These institutions were chosen because they provide competitive APYs, low fees, and other factors we find important. These banks and credit unions often provide accounts that are available nationally. All of these banks are FDIC-insured, and all of these credit unions are NCUA-insured. Choosing an FDIC-insured bank or an NCUA-backed credit union assures that your money is protected as long as it stays within insurance limits and requirements.