SunTrust Bank, Now Truist, Review (2022)

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

Editor’s Note: In December 2019, BB&T and SunTrust completed a merger of equals to become Truist Bank, headquartered in Charlotte, North Carolina. As described below in About SunTrust, Now Truist, SunTrust is still operating under its own name until early 2022.

SunTrust has been a Georgia-based home to a host of banking and financial products and services for consumers, small businesses and corporate and commercial clients.

SunTrust mainly has branches in the Southeast, but its merger with BB&T to form Truist may expand its footprint. You can open an account online with SunTrust even if you don’t live in a state where it has a branch presence.

SunTrust’s product details, rates and fee information may vary by location. SunTrust has been headquartered in Atlanta, but is moving to Charlotte, North Carolina, under the merger. For the purposes of this review, we used a Charlotte ZIP code of 28202.

This review focuses on SunTrust Bank’s personal banking services. Account details and annual percentage yields (APYs) are accurate as of Nov. 11, 2021.

Account Basics

Checking

SunTrust Bank offers two checking accounts for consumers: Essential Checking and Advantage Checking. Below are the details of these accounts.

Essential Checking. Essential Checking is a basic checking account designed for everyday banking. A deposit of at least $100 is required to open this account. The account carries a monthly fee of $7, but that fee can be waived if you meet one of the following requirements:

(Video) Customers having issues at Truist Bank in wake of SunTrust merger

  • Make 10 or more client-initiated transactions per statement
  • Receive $500 or more in total qualifying direct deposits
  • Maintain a $500 minimum daily collected balance
  • Open the account as a student, for which you’ll receive a waiver for five years

Other account perks include a starter pack of checks and a 10% loyalty bonus when you redeem rewards earned with a SunTrust Cash Rewards credit card for cash back to your checking account. This account also includes person-to-person electronic payment through Zelle.

There’s a $3 paper statement fee, which you can avoid by signing up for paperless online statements. The overdraft fee is steep—$36.

Advantage Checking. This account is an interest-bearing checking account with three tiers of benefits based on your account balance:

  • Advantage. This tier is for balances of $0 to $25,000. It comes with a 10% credit card loyalty cash bonus and an optional Delta SkyMiles Debit Card ($95 annual fee).
  • Advantage Choice. This tier is for balances between $25,000 and $100,000. It comes with a 25% credit card loyalty cash bonus and an optional Delta SkyMiles Debit Card ($75 annual fee).
  • Advantage Preferred. This tier is for balances above $100,000. It comes with a 50% credit card loyalty cash bonus and an optional Delta SkyMiles Debit Card ($25 annual fee).

Advantage Checking carries a $20 monthly maintenance fee, waived in of the following three ways:

  • Receive $3,000 in total monthly qualifying direct deposits
  • Maintain $10,000 total combined balances between linked deposit and investment accounts
  • Have a linked SunTrust small business checking account, lending account or credit card

This checking account currently pays 0.01% APY on all balances. Other perks with this account include a 100-pack of SunTrust customer checks, no-fee money orders and a $25 discount on any size safe deposit box. As with Essential Checking, there’s a $36 overdraft fee.

Savings

SunTrust Bank offers two primary savings accounts: Essential Savings and Youth Advantage Savings.

Essential Savings. Essential Savings is a basic savings account with no monthly fee and no minimum opening balance. You’ll need to maintain a minimum account balance of $0.01 to avoid closure, but, other than that, there are no account requirements. Current savings account interest rates aren’t available online.

With this account, you can track savings goals with balance alerts and make automatic transfers from a SunTrust checking account. There’s a $3 fee for paper statements, which you can avoid by signing up for online paperless statements.

(Video) Suntrust Bank Review, my experience, and why I pulled my accounts. Should I use Suntrust, Bad Bank

Youth Advantage Savings. SunTrust also offers savings accounts for kids. Youth Advantage Savings is available in two variations:

  • Minor By. This version requires an adult co-owner and is meant to teach children and teens about managing money.
  • UTMA. This version is considered an irrevocable gift to a child that’s transferred to them when they reach the age of majority for their state. Account funds can only be used for the child’s benefit.

Youth Advantage Savings accounts carry no monthly fee until the child reaches the age of 18. If opened online, there is a $50 minimum opening deposit, but no requirement when opened in person at a SunTrust branch.

Money Market

SunTrust has one money market account available: Advantaged Money Market Savings. This account comes with limited check-writing privileges. You can open a money market account for $100. The account carries a $17 monthly maintenance fee, which can be waived each month if you make automatic transfers of at least $100 total or maintain a $10,000 minimum daily collected balance. Current money market account interest rates aren’t posted online.

CDs

SunTrust also carries Personal Certificates of Deposit (CDs). CDs can be a good way to maximize savings if you don’t need immediate access and are able to set aside funds for a specific period, but SunTrust’s CD rates are fairly low, especially compared to the best CD rates.

SunTrust offers four Personal Certificates of Deposit (CD), ranging from six months to 24 months, on its website. You can open these promotional CDs online. But there are numerous other terms available that range from seven days to 10 years, according to the bank’s website and Certificates of Deposit (CDs) Account Overview Guide. You must visit a branch or call the bank to learn more about those terms.

CDs require a $2,000 minimum deposit to open. Here’s an overview of SunTrust’s Personal Certificates of Deposit:

Other Accounts and Services

In addition to its personal deposit accounts, SunTrust Bank also offers the following financial products and services:

  • Credit cards
  • Auto loans
  • Auto refinancing
  • Recreational vehicle loans
  • Person lines of credit
  • Mortgage loans
  • Mortgage refinancing
  • Home Equity Lines of Credit (HELOCs)
  • Home improvement loans
  • Debt consolidation loans
  • Physician loans and line of credit
  • Business loans
  • Small business banking and lending
  • Investment accounts and services
  • Retirement accounts
  • Wealth management services
  • Corporate and commercial services

Access on the Go

SunTrust accounts are accessible online or through its mobile app. Within your online account, you can manage your accounts and access helpful features like online bill pay and e-statements.

(Video) Easy Approval $100,000 Line of Credit! Major Game Changer! (BB&T and SunTrust, Now Truist!)

SunTrust’s mobile app is available on the App Store (4.1 stars out of 5) and Google Play (4.2 stars out of 5). Through the app, customers can:

  • Manage accounts
  • Pay bills
  • Deposit checks
  • Send money via Zelle
  • Open an account
  • Access credit card and loan accounts

For in-person help, you can visit any of SunTrust’s physical branches located in 17 states and Washington D.C or over 2,000 SunTrust ATMs. You can also get help by calling SunTrust Bank customer support by phone at 800-786-8787 during business hours or using its online chat feature.

Pros

  • Low deposit requirements
  • Monthly maintenance fees are relatively easy to get waived
  • Full-service banking

Cons

  • Low interest rates on deposit accounts
  • High overdraft fees
  • Branches are located primarily in the southeastern U.S.

How SunTrust Bank Stacks Up

SunTrust still exists on its own for now but eventually will transition to Truist Bank. At this point, it’s not yet clear what that will look like in terms of products, services or interest rates.

Individuals in the southeastern U.S. looking for full-service banking are ideal customers for SunTrust Bank. You won’t earn competitive rates, but the bank offers plenty of in-person and online support, along with a full array of accounts and services to meet a host of banking needs. For more competitive rates, turn to the best online banks.

About SunTrust Bank, Now Truist

On Dec. 9, 2019, Winston-Salem, North Carolina-based BB&T (Branch Banking and Trust Company) and Atlanta-based SunTrust completed a merger of equals to become Truist Bank, the sixth largest U.S. bank based on assets, according to FDIC data. Truist is headquartered in Charlotte, North Carolina.

Since the merger was announced, BB&T and SunTrust had been operating under their separate names. Between late 2021 and early 2022, both banks will transition to the single Truist brand.

As of this writing in Nov. 2021, BB&T is already doing business as Truist. The bbt.com website automatically redirects to truist.com. Truist consumer products are now available both online and in BB&T branches. Current BB&T clients’ products are also transitioning to Truist.

According to Truist’s online merger guide, SunTrust’s transition to doing business under the Truist name is scheduled for early 2022. Due to this difference in timing, suntrust.com is still operating under its own name, identified as “SunTrust Now Truist.” Also in early 2022, SunTrust debit cards will become Truist debit cards and all bank signage will change from BB&T and SunTrust to Truist at branches and ATM locations.

(Video) BB&T and SunTrust banks merging

Frequently Asked Questions (FAQs)

Is SunTrust Bank FDIC insured?

Yes, SunTrust Bank is insured by the FDIC (Federal Deposit Insurance Corporation) as Truist Bank (FDIC# 9846). All SunTrust Bank accounts are FDIC insured up to $250,000 per depositor, for each account ownership category, in the event of a bank failure.

What is required to open a SunTrust Bank account?

You can open a SunTrust Bank account in person at one of its physical branches or online. To open an account, you’ll need to provide personal information, like your name, address, contact information and a government-issued photo ID for identification purposes. A funding source is also required at the time of account opening.

How do I reach a live person at SunTrust Bank?

You can reach SunTrust Bank customer support by calling 800-786-8787 during business hours or using the bank’s online chat feature.

(Video) WARNING: DO NOT Bank With Truist | TRUIST Bank Fraud

FAQs

Are my SunTrust checks still good for Truist? ›

That means that customers of BB&T and SunTrust can continue to use their branded bank cards, checks and deposit slips until the brand conversion to Truist is complete, sometime early in 2022.

Is Truist Bank a good bank? ›

GOBankingRates' Best Banks of 2022 rankings named Truist Bank in the categories of Best Money Market Accounts, Best Regional Banks and Top 100 Banks.

Why is SunTrust Bank now Truist? ›

Truist came about through a partnership with consultant Interbrand. The companies said picking the name was the result of a “rigorous, data-driven brand development process,” including focus groups of company employees and clients. The name is intended to give the bank a single, fresh identity.

Are all SunTrust now Truist? ›

After more than two years since the former banks announced their merger in 2019, Truist is completing its “core conversion” to its new name and brand this month. All BB&T and SunTrust customers will be converted to Truist products and digital platforms.

Did SunTrust routing number change with Truist? ›

Keep in mind that your Truist routing number may match a routing number from SunTrust — which is 061000104, the same as the Truist routing number — or BB&T, which had different routing numbers for each state it served.

How much money can I withdraw from Truist? ›

Benefits include: Truist Wealth Debit Card with deals or Delta SkyMiles® Debit Card. Increased daily ATM withdrawal limit of $3,000 and daily purchase limit of $25,000. Account access through Truist Online and Mobile Banking with unlimited online Bill Pay.

What is so good about Truist? ›

Overall bank rating

Truist was formed in 2019 through a merger of two banks, BB&T and SunTrust. Today, Truist Bank is among the top 10 largest banks in the U.S. Truist has a good basic checking account but its savings rates are generally low, and some fees, including overdraft fees, are high and hard to avoid.

Is Truist better than Wells Fargo? ›

Truist Financial is most highly rated for Compensation and benefits and Wells Fargo is most highly rated for Compensation and benefits.
...
Overall Rating.
Overall Rating3.63.7
Work/life balance3.53.6
Compensation and benefits3.73.7
Job security and advancement3.13.4
Management3.13.3
1 more row

Does Truist have fees? ›

Is Truist One Checking free? No, but we've made it easy to waive the $12 monthly maintenance fee. Plus, Truist One Checking doesn't charge overdraft fees or overdraft related fees, like returned item, negative account balance, or overdraft protection transfer fees. And some ATM and personal check fees are waived.

Who is Truist bank owned by? ›

Truist Financial Corporation is an American bank holding company headquartered in Charlotte, North Carolina.
...
Truist Financial.
TypePublic
PredecessorBB&T Corporation SunTrust Banks
Founded1872 (as BB&T) 1897 (as Southern National) 1891 (as SunTrust) 2019 (as Truist)
16 more rows

Is Truist same as SunTrust? ›

GREENSBORO, N.C. — SunTrust and BB&T have merged to become Truist bank. On Feb. 19, the merger was set to go through. Customers were told to activate their new debit and credit cards on the 21st, which was Monday, a federal holiday.

What does the word Truist mean? ›

1. Unselfish concern for the welfare of others; selflessness.

Why can't I access my Truist? ›

If your User ID or Password becomes disabled, contact your administrator about resetting your User ID and Password. For other assistance, call the Truist Contact Center at 844-4TRUIST (844-487-8478).

What bank is Truist taking over? ›

ATLANTA — Issues continue to crop up among customers at Truist Bank. The problems are happening in the wake of the merger between Suntrust Bank and BB&T, which first sparked complaints in February. The merger formed Truist Bank.

Does Truist have Zelle? ›

How it works: Access Zelle® by signing into Truist Online or Mobile Banking. Enroll with Zelle® using a U.S. mobile number or email address. Let customers know you accept payments with Zelle®—they can send payments to you by entering your enrolled email or U.S. mobile number.

What is my Truist account number? ›

On a check: In the string of numbers along the bottom of your check, your routing number is the first set of nine numbers. Your account number will follow, and be between nine and 12 digits. In digital banking: Select the account you want, and then select View account details to see your routing and account number.

How do I convert my SunTrust account to Truist? ›

Continue to sign in to online banking through SunTrust.com until our transition to Truist is complete. That's it!
...
  1. Visit SunTrust.com or use the SunTrust mobile app to sign in to your online banking account.
  2. You may be prompted to change your user ID or password.
  3. Download the new Truist app and enjoy.
4 May 2021

What happened to SunTrust? ›

SunTrust and BB&T both merged into Truist Financial to become the tenth-largest bank in the United States. Truist is headquartered in Charlotte and has branches in 15 states.

What is Truist mobile deposit limit? ›

Truist, for instance, limits mobile check deposits to $1,000 per check and $3,000 per month if your account has been open for six months or less.

Can I withdraw $5000 from ATM? ›

The amount of cash you can withdraw from a bank in a single day will depend on the bank's cash withdrawal policy. Your bank may allow you to withdraw $5,000, $10,000 or even $20,000 in cash per day.

Can I withdraw $6000 from my bank? ›

Can I Withdraw $6000 from My Bank? Yes, you can withdraw $6000 from your bank as long as you have $6000 in your bank account.

Does Truist charge ATM fees? ›

Add money Direct deposit $0 There is no fee for a direct deposit to Money Account. ATM withdrawal (in-network) $0 “In-network” refers to the Truist ATM network. Locations can be found at Truist.com/locations. ATM withdrawal (out-of network) $3 This is our fee.

Who is the best bank? ›

Best banks, credit unions and neobanks:

Best overall, best for ATM availability: Charles Schwab. Best overall, best for overdraft options: Ally Bank. Best overall, best for rates: Alliant Credit Union. Best overall, best for tools: Capital One.

Does Truist charge to open checking account? ›

Truist Checking Account Fees

This account charges a $5 per month maintenance fee, or $3 in the state of New Jersey. Fortunately, it does not require a minimum balance, nor does it impose direct deposit requirements. The other account types impose a fee of between $5 and $20 per month.

What is the number 1 bank in America? ›

JPMorgan Chase is the top largest bank in the US, with a balance sheet total of $2.87 trillion.

What is the most popular bank in America? ›

  1. JPMorgan Chase. Chase Bank is the consumer banking division of JPMorgan Chase. ...
  2. Bank of America. Bank of America serves about 66 million consumers and small business clients worldwide. ...
  3. Citigroup. ...
  4. Wells Fargo. ...
  5. U.S. Bancorp. ...
  6. PNC Financial Services. ...
  7. Truist Financial. ...
  8. Goldman Sachs.
8 Sept 2022

What bank is in all 50 states? ›

What bank is located in all 50 states? At the moment, there are no banks that operate branch locations in all 50 states. And, with most banks focusing on their digital presence (and shutting down some of their traditional branches), this is unlikely to change.

What is the minimum balance for Truist? ›

Truist One Money Market Account

$0 monthly maintenance fee if you maintain a minimum daily ledger balance2 of $1,000 or more. Waive the $3 Paper Statement fee by enrolling in paperless statements.

Are checks free at Truist? ›

4 Official checks and Money Order: There is no charge for Truist Wealth Checking Accounts and Health Savings Accounts. Truist Asset Management and Truist One Checking accounts are entitled to one no-fee official check and one no-fee money order per statement cycle.

Does Truist charge to transfer money to another bank? ›

The $3 fee for standard online external transfers to your accounts at other financial institutions will be waived up to three times per month.

What is SunTrust Bank called now? ›

Truist. Personal Banking, Commercial Banking, Mortgages, Investments.

How do I cancel my Truist account? ›

You can: Contact your local Truist branch. Call 844-4TRUIST (844-487-8478)

Is BB&T the same as Truist bank? ›

More than two years after closing the $66 billion merger of equals between North Carolina-based BB&T Corp. and Atlanta-based SunTrust Banks, the combined bank will finally rebrand branches under its new name, Truist.

How long does it take to get Truist debit? ›

Debit cards will be delivered 3 to 5 business days after image approval. If your image is not approved, you have 10 days from your original request to submit a new image for approval.

Can you overdraft Truist? ›

Highlights of the flagship Truist One Checking account include: No overdraft fees. Up to $100 negative balance buffer for qualifying clients so transactions go through at no extra charge.

Why did they pick the name Truist? ›

The name, according to the company, combines the stories and missions of BB&T and SunTrust, the two banks that merged. The Braves had stadium stability for more than three decades.

Where is Truist main headquarters? ›

What does Truist symbol mean? ›

The two T's inside the square mean touch and technology, Truist's two selling points it emphasizes. However, there is more meaning to the square; ..." the square symbolizes trust, the rounded corners, accessibility, and the mirrored T's, the two companies coming together." ( Joyce, 2020)

Does Truist have a mobile app? ›

Truist Mobile on the App Store.

How do I activate my Truist debit card? ›

Truist Activate Card : Activate your Debit Card or Credit Card...
  1. Online: Get started right away by opening your account online. ...
  2. Branch: Visit a branch near you during business hours to open your new account. ...
  3. Phone: Call us at 844-4TRUIST (844-487-8487).
5 days ago

Does Truist Bank have mobile deposit? ›

Truist Remote Deposit Capture (RDC) is a web-based software application that allows you to submit check images for deposit electronically from your facility using a scanner and a personal computer.

What two banks made Truist? ›

Truist Financial Corporation is an American bank holding company headquartered in North Carolina, U.S. It was formed in 2019 through the merger of BB&T (Branch Banking and Trust Company) and SunTrust Banks.

Can I still use my BB&T checks with Truist? ›

The bank said in its email that, after the accounts switch, BB&T users will retain several features, including online bill pay; routing numbers and deposit account numbers; direct deposits; card numbers; and wire transfer instructions. Truist also noted that it will continue to accept BB&T-labeled checks.

How many customers does Truist Bank have? ›

Truist is the sixth-largest U.S. commercial bank, the release says, serving 10 million consumer households.

Is Truist a good bank? ›

GOBankingRates' Best Banks of 2022 rankings named Truist Bank in the categories of Best Money Market Accounts, Best Regional Banks and Top 100 Banks.

Can I still use my SunTrust checks with Truist? ›

As we move further into the transition, we will be announcing exciting new products.” That means that customers of BB&T and SunTrust can continue to use their branded bank cards, checks and deposit slips until the brand conversion to Truist is complete, sometime early in 2022.

Can I send $5000 through Zelle? ›

If your bank or credit union offers Zelle®, please contact them directly to learn more about their sending limits through Zelle®. If your bank or credit union does not yet offer Zelle®, your weekly send limit is $500. Please note that you cannot request to increase or decrease your send limit.

Can I cash a SunTrust check without an account? ›

No worries, you can still cash a check without a bank account and you can do this by cashing it at the issuing bank or a check cashing store.

Can I deposit a check online with Truist? ›

Truist Remote Deposit Capture (RDC) is a web-based software application that allows you to submit check images for deposit electronically from your facility using a scanner and a personal computer.

Can I still use my BB&T checks? ›

Existing BB&T customers will be sent new Truist credit cards and Rhodes said they can continue to use their BB&T checks until they need a new supply, at which point they will be provided with Truist checks.

Are checks free at Truist? ›

4 Official checks and Money Order: There is no charge for Truist Wealth Checking Accounts and Health Savings Accounts. Truist Asset Management and Truist One Checking accounts are entitled to one no-fee official check and one no-fee money order per statement cycle.

How long does it take for a $30000 check to clear? ›

Most checks take two business days to clear. Checks may take longer to clear based on the amount of the check, your relationship with the bank, or if it's not a regular deposit. A receipt from the teller or ATM tells you when the funds become available.

How long does a check take to clear at SunTrust? ›

How Long It Takes a Check to Clear at the Top 10 Banks
BankStandard DepositMobile Deposit
SunTrust BankAvailable next day as long as before cut-off time (4 P.M. at local branch and 9 P.M. EST for ATM deposits).Available next business day if deposited before 9 P.M. EST.
9 more rows
27 Nov 2013

Can banks refuse to give you your money? ›

Yes. A bank must send you an adverse action notice (sometimes referred to as a credit denial notice) if it takes an action that negatively affects a loan that you already have. For example, the bank must send you an adverse action notice if it reduces your credit card limit.

What is Truist mobile deposit limit? ›

Truist, for instance, limits mobile check deposits to $1,000 per check and $3,000 per month if your account has been open for six months or less.

Can you cash a check at Truist? ›

Truist Bank: Truist will cash any Truist checks. There's no fee if the value of the check is less than $50. If it's greater than $50, you'll pay $8.

Does Truist work with cash App? ›

Now you can buy and sell Truist stock (TFC) in Cash App! If you have questions regarding corporate actions that affect shares you're holding, we recommend contacting the appropriate company's Investor Relations team, or locating the Investor Relations page on their website for clarification.

How do I convert my SunTrust account to Truist? ›

Continue to sign in to online banking through SunTrust.com until our transition to Truist is complete. That's it!
...
  1. Visit SunTrust.com or use the SunTrust mobile app to sign in to your online banking account.
  2. You may be prompted to change your user ID or password.
  3. Download the new Truist app and enjoy.
4 May 2021

Can I overdraft my Truist account at the ATM? ›

If your account has both Overdraft Protection and Overdraft Coverage, Truist will use Overdraft Protection first. If your account has neither, everyday debit card and ATM transactions that exceed the account balance will be declined.

Why can't I access my Truist? ›

If your User ID or Password becomes disabled, contact your administrator about resetting your User ID and Password. For other assistance, call the Truist Contact Center at 844-4TRUIST (844-487-8478).

What fees does Truist charge? ›

Truist Checking Account Fees
FeeAmount Charged
Out-of-network International ATM$5 + ATM owner fees + 3% of transaction
Overdraft$36
Domestic Wire Transfer$15 incoming, $30 outgoing
International Wire Transfer$20 incoming, $65 outgoing
3 more rows
15 Jun 2022

Does Truist charge ATM fees? ›

Add money Direct deposit $0 There is no fee for a direct deposit to Money Account. ATM withdrawal (in-network) $0 “In-network” refers to the Truist ATM network. Locations can be found at Truist.com/locations. ATM withdrawal (out-of network) $3 This is our fee.

What is Truist overdraft limit? ›

Highlights of the flagship Truist One Checking account include: No overdraft fees. Up to $100 negative balance buffer for qualifying clients so transactions go through at no extra charge.

Videos

1. SunTrust + BB&T = Truist
(11Alive)
2. Jim Cramer on BT&T, SunTrust deal: Merge or die
(CNBC Television)
3. Truist Bank is the best bank for funding in 2022!
(AC LEGEND)
4. Truist Bank Credit Cards - Worth The Wait?
(RJ Financial)
5. Thousands of Truist Bank Customers Are Fed Up! Truist Update
(Dave Cousins)
6. The SunTrust x BB&T "Truist" Disaster
(Slacker Genius)

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