Business Insider's personal finance team compared Truist Bank accounts to other accounts at the best banks and found them to be overall standard products.
The bank may appeal to you if you live in the Southeast and want to avoid overdraft fees. But to earn the highest interest rates on savings accounts or CDs, you may want to consider online banks instead.
Truist Bank Overview
Truist National Branch and ATM Presence
Truist Bank has over 1,900 branches and 2,900 ATMs throughout the U.S.
The bank primarily serves residents in the Southeast region of the U.S. It has locations in Alabama, Arkansas, Georgia, Florida, Indiana, Kentucky, New Jersey, Maryland, Mississippi, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, and Washington, DC.
It is the result of a 2019 merger between BB&T, also known as Branch Banking and Trust Company, and SunTrust Bank.
What You Need to Know About Truist Personal Bank Accounts
Truist Bank launched Truist One Banking in 2022 to provide checking accounts without overdraft fees. Previously, the bank had also discontinued fees for overdraft protection transfers and overdrawn account balances on existing consumer accounts.
The bank offers two checking accounts, two savings accounts, one money market account, and traditional CDs ranging from 7 days to 60 months.
The bank is FDIC-insured. You'll be able to deposit up to $250,000 in an individual bank account and your money will be secure.
Truist Bank Digital Experience and App Usability
You can use mobile banking to view your bank account statement and transaction history, set transaction alert preferences, order checks, make mobile check deposits, lock cards, and send money through Zelle. You can also contact the bank's customer support or find nearby branches.
The bank's mobile banking app has 4.7 out of 5 stars in the Google Play store and 4.8 out of 5 stars in the Apple App store. However, according to the J.D. Power 2024 Banking Mobile App Satisfaction Study, the bank ranked below the study average for overall customer satisfaction in both mobile and online banking.
Truist Bank Customer Support Availability and Satisfaction
To get in touch with a Truist Financial customer service representative, call from 8 a.m. to 8 p.m. ET on weekdays or 8 a.m. to 5 p.m. ET on Saturdays. You can also visit a branch during business hours or send a message through the mobile app.
If these customer support hours don't fit your schedule, you can find banks with 24/7 customer service.
Truist Bank Fees, Rates, and Financial Benefits
Truist Bank is one of the best banks for avoiding overdraft fees. Most national brick-and-mortar banks still charge overdraft fees when you overdraw from your bank account, and the bank covers your negative balance.
Other common bank fees still apply to most of these bank accounts, though. You'll have to be mindful of monthly bank maintenance fees, out-of-network ATM fees, official check fees, stop payment fees, and wire transfer fees.
The Truist Confidence Savings Account is an exception to monthly service fees. However, you must have the Truist Confidence Account to get this savings account.
Truist Savings and CD Rates and How They Compare
One of the primary disadvantages to banking with this bank is is low savings account interest rates. The average savings account interest rate is significantly higher than either of the bank's savings accounts. That being said, the bank's money market account offers high interest rates, but only for new customers. Customers who already have a money market account will continue to earn low interest rates.
Truist Bank CD rates vary by location. The bank also only lists promotional CD rates online. Of the promotional CD rates shared on the bank's website, the bank offers decent CD rates that are higher than average CD rates. Online banks have even more compelling CD rates, though.
Truist Bank Pros and Cons
Truist Bank Pros
- Over 1,900 branches in the Southeast
- Possible to waive monthly service fees
- Checking accounts with no overdraft fees
- Cash-back debit card
Truist Bank Cons
- Pays low interest rates
- Monthly service fees on most accounts
- Cannot open CDs online
Banking Options with Truist Bank
Truist Bank Savings Account
$5 monthly service fee
0.01%
$50
Pros
Cons
You might like Truist if you're using its other products and want keep things simple — but if you're only looking for high savings rates, you'll find more compelling accounts in our best high-yield savings accounts guide.
Truist One Savings- Over 2,000 branches and 3,000 ATMs in the Southeast
- To waive the $3 paper statement fee, sign up for paperless online statements
- To waive the $5 monthly service fee you must meet one of the following requirements: Maintain at least $300 in your account daily; Initiate a recurring internal transfer of$25 each month; Open any Truist checking account, or are under the age of 18
- Interest compounded daily and deposited monthly
- FDIC insured
Truist One Savings works best if you can avoid paying the account's monthly service. To waive the fee, you'll need to keep at least $300 in your account, schedule a recurring transfer of $25 into your account, or open a checking account with the bank. The fee will also automatically be waived if you're under the age of 18.
The bank also has another savings account called the Truist Confidence Savings Account. You must get the Truist Confidence Account to qualify for the savings account.
There isn't a Truist high-yield savings account. The bank's interest rates aren't great, so if you're primarily interested in earning a good interest rate on your savings, you might want to go elsewhere.
Truist Bank Checking Account
Truist One Checking is a solid checking account if your goal is to avoid overdraft fees. Eligible customers may also receive a $100 negative balance buffer.
You'll have to be mindful of a $12 monthly services fee, though.
The bank is currently offering a bonus of $400 for new customers looking to open a checking account. You can get it if you open a new checking account and receive at least two direct deposits totalling $1,000 or more within the first 120 days of opening the account. This bonus will last until October 29, 2025.
The bank also offers a checkless checking account called Truist Confidence Account, which has a lower monthly service fee.
You can choose between two debit cards when you open a checking account with the bank: a personal debit card and the Delta SkyMiles Debit Card. The former is a cash-back debit card, while the latter lets you earn miles with your purchases. The Delta SkyMiles Debit Card comes with a $95 annual fee, but the personal debit card is free.
Truist Bank CD
0.05% to 4.00%
$1,000 to $2,500
Pros
Cons
- Over 2,000 branches and 3,000 ATMs in the Southeast
- Terms range from 7 days to 5 years
- For terms less than 3 months, the early withdrawal penalty will be whichever is greater: all the interest that would have been earned on the withdrawn amount OR $25
- For terms less between 3 months and 1 year, the early withdrawal penalty will be whichever is greater: 3 months of simple interest OR $25
- For terms less between 1 year and 2 years, the early withdrawal penalty will be whichever is greater: 6 months of simple interest OR $25
- For terms greater than 2 years, the early withdrawal penalty will be whichever is greater: 12 months of simple interest OR $25
- Interest compounded daily, deposited monthly
- FDIC insured
Truist Bank CD rates are better than its savings account rates, but the bank no longer allows you to open CDs online. Truist Bank CD rates vary by location. To ask about opening a CD with the bank, contact your local branch.
Truist Bank Money Market Account
$12 monthly service fee
0.01% to 3.66%
$50
Pros
Cons
- New Money Market Accounts earn 3.66% APY, all other accounts earn 0.01% APY
- Over 2,000 branches and 3,000 ATMs in the Southeast
- To waive the $12 monthly maintenance fee, keep at least $1,000 in your account monthly
- Interest compounded daily, deposited monthly
- FDIC insured
The Truist Bank One Money Market Account might be worthwhile if you're opening a new account now and you're able to maintain at least $1,000 in your account. By meeting the $1,000 requirement, you'll waive the $12 monthly service fee, and by opening a new account, you'll earn the highest Truist money market rates.
Otherwise, the bank's savings account will be easier to manage than the money market account since it has a lower monthly fee. Just keep in mind that Truist money market rates are higher than its savings rates for new customers.
Truist Business Banking
Truist Bank has more business banking options than most banks. You can choose from three types of business checking accounts, a business savings account, a business money market account, and business CDs ranging from 7 days to 60 months.
Other Truist Bank Products
Truist Credit Cards Review
Truist Bank has cash-back credit cards, travel credit cards, and zero-interest credit cards, but none have landed in our top picks. You might prefer a different national bank for stronger credit card perks.
Truist Loans Review
The bank has personal loans and auto loans. The minimum amount you'll need to borrow is $3,500 for both types of loan options.
Truist Mortgages Review
The bank has conforming loans, jumbo loans, FHA loans, VA loans, USDA loans, home equity lines of credit, doctor loans, and construction-to-permanent mortgages.
See Business Insider's Truist Mortgages Review.
Truist Investment Services Review
You have two investment options: Truist Invest and Truist Trade.
The former automates investing but requires a minimum of $5,000 to get started. You'll also have to schedule an appointment with an advisor to create a financial plan.
The latter requires self-direct trading and you can open an account online. It requires initial funding of $1, and has a $60 annual fee.
Is Truist Bank Trustworthy?
The Better Business Bureau rates businesses on how they respond to customer issues, advertise, and handle transparency. The bank received an A+ rating from the BBB. It does have one recent controversy, though.
In 2024, the bank paid over $9 million to the United States. The U.S. Office of Public Affairs says that SunTrust Bank, which was later bought out and combined with another bank to form Truist, established trust accounts for people involved in a settlement for lead poisoning cases. The Office of Public Affairs said that SunTrust made decisions regarding the trust accounts that were not in the beneficiaries' best interests but were instead in the best interests of third parties. Truist does not admit or deny wrongdoing by settling with the U.S.
Truist Bank Alternatives
Truist Bank vs. Regions Bank
These are two banks in the Southeast with substantial branch and ATM networks, so your decision will likely come down to differences in individual accounts.
If you plan to open a savings account, you may favor Regions Bank. The Regions LifeGreen® Savings Account has zero monthly service fees and 1% annual bonus (up to $100) if you set up monthly automatic transfers from your Regions Bank checking account. Regions LifeGreen® Savings Account offers0.01% APY, which means both banks offer below-average savings account rates.
You may favor Truist Bank if you'd like to open a checking account. It's a bit easier to waive monthly service fees at this bank than Regions Bank.
Truist Bank vs. Fifth Third Bank
Truist One Savings makes it a bit easier to waive the monthly service than the Fifth Third Momentum Savings Account. Both banks' savings accounts offer low interest rates; the Fifth Third Momentum Savings Account offers and interest rate of 0.01% APY.
The opposite is true when it comes to checking accounts. Fifth Third Bank will likely edge out Truist Bank and even Regions Bank. It has a free checking account that doesn't require a minimum opening deposit and is part of the Allpoint ATM network, which provides access to over 55,000 free ATMs.
Is Truist Bank Right For You?
If you live in the Southeast U.S. and are interested in getting a loan for your first home or opening a checking account with no overdraft fees, you may like this bank.
It may not be right for you if you're focused on saving or investing. Other big banks have higher savings rates and stronger investment services. It also isn't among our top picks for the best credit cards — we've ranked other credit cards higher when evaluating for simplicity, affordability, and value.
Why You Should Trust Us: How We Reviewed Truist Bank
To review this bank, we rated accounts and services using Business Insider's bank account methodology.
To rate banks as a whole, we start by rating all of their individual banking products. We rate each individual banking product across several categories. The categories differ depending on what banking product we're rating, but they include things like customer service, security, ethics interest rates, early withdrawal penalties, mobile app ratings, overdraft protection, ATM networks, bank security, miscellaneous banking features, and transaction limits.
We give each of these categories a score from zero to five using our scoring formula. Once each category has a score, we calculate the weighted average to get the banking product's overall ratings. Star ratings can be anywhere from one to five stars.
A star rating of one means that a bank is not worth using under pretty much any circumstance for most people, while a score of five means that a bank offers strong products across the board. A score of three could mean that a bank has one outstanding product and its other products don't meet market standards, or it could mean that the bank has middle-of-the-road options for all of its products.
To learn more about how we choose and rate banks and banking products, read our editorial standards.
Truist Bank Review: Overall Rating
| Feature | Business Insider rating (out of 5) |
| Personal Bank Accounts | 3.25 to 4 |
| Mortgages | 4.5 |
| Trustworthiness | 4 |
| Total | 3.75 |
Truist Bank FAQs
Is Truist a good bank?
Truist Bank is a good bank for avoiding overdraft fees, but it's a pretty standard brick-and-mortar bank otherwise. Most of its savings accounts offer low interest rates and come with monthly service fees if you don't meet certain requirements.
What time does Truist Bank open?
Most Truist Bank branches open around 9 a.m. local time, while customer service is available from Monday through Saturday, starting at 8 a.m. ET. If you're hoping to go to a physical branch, you'll want to check ahead of time with your closest bank branch to make sure you know when it opens.
Who owns Truist Bank?
Truist Bank is owned by the Truist Financial Corporation. It is the result of a merger between BB&T and SunTrust.
Is Truist Bank in trouble?
No, Truist Bank is not in trouble. Its latest credit ratings from Moody's and Fitch are stable.
