Truist checking account at a glance
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Physical Locations |
There are more than 3,000 branches in person and over 3,600 ATMs |
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Getting started |
$25-$50 minimum opening deposit (depending on account type) |
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Monthly service charge |
You can pay up to $12 per month (there are five options for avoiding the fee). |
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Overdraft fees |
Options for accounts with no overdraft fees |
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Other charges |
Fees may be charged for ATM transactions outside of network (certain account levels include non-Truist ATM transaction charges). |
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How do I deposit |
You can bank digitally (mobile banking), or in person at an ATM or branch. |
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How do I withdraw |
Use a digital transfer to get a personal check for free with your debit card |
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Noteworthy feature |
Truist One checking account allows you to overdraw up $100 — without any fees |
Truist is the United States’ largest bank. It offers standard banking products such as checking accounts, savings accounts and certificates of deposit. We’ll explore the Truist One checking account in this article.
The Truist One checking account is a great option for those who want to avoid traditional bank fees. Account holders won’t need to worry about overdraft fees, and they can have their monthly maintenance fees waived.
Let’s talk about what you need to know before opening Truist checking accounts.
5 Things You Need to Know About a Truist Checking Account
Truist offers several checking account products. Two of the most popular options are Truist One Checking or Truist Confidence Account. Both accounts do not charge overdraft fees and both offer online and mobile banking services.
Although they are similar, the two accounts have some differences. Truist One Checking is an everyday checking account with no maintenance fees. Truist Confidence Account, on the other hand, is a checkless account that allows you to spend only what you have and provides free financial education. This account is great for those who need to open their first bank account.
1. No overdraft fees
Overdrafts are a common occurrence. Being financially penalized for them only increases the stress. Overdraft fees can be a serious problem if you are in financial trouble or have to manage your finances carefully. Truist is one of the few banks that offer more friendly overdraft policies. Although not all Truist checking options offer zero overdraft fees (Truist One and Trust Confidence), they do.
2. Different account levels
Each Trust One Checking account comes with its own set benefits. There are several benefit levels. The level is determined by your average monthly balance in all Truist accounts including savings and investments.
You’ll get more perks and rewards as you progress to the next level. Below are the monthly average balance requirements for each level.
- Level 1 $0-$9.999.99
- Level 2 $10,000-$24.999.99
- Level 3 $25,000 – $49.999.99
- Level 4 $50,000-$99.9999.99
- Level Premier: $100,000+
3. Mobile banking via online banking
Truist’s digital account access makes it simple to manage your finances on the move. With the mobile banking app, you can make deposits, set up bill payments and even pay your bills using your smartphone.
Notable online banking features include:
- Mobile check deposit
- Zelle allows you to send money
- Card controls
- Activity alerts
- Security features
The Truist Mobile App can be downloaded from the App Store and Google Play Store.
4. $100 Negative Balance Buffer
You can overdraw your Truist One checking account up to $100 without any fees and your transactions will still go through. If you make a purchase and discover that you don’t have enough funds, your transaction will not be declined.
Your account must be open for at most 35 days. It must also be funded with a positive balance. You must also make at least $100 per monthly direct deposits for two consecutive months to qualify for the Negative Balance Buffer. To maintain your qualification, you must continue to make a $100 monthly direct deposit.
5. Monthly service fees
There are five ways to waive monthly service fees for Truist accounts. A checking account maintenance fee of $12 per month is common practice. However, if you meet the criteria below, the monthly service fee will be waived.
- Each statement cycle, minimum $500 in qualified direct deposits
- Truist accounts have a total combined ledger balance of at least $500, which can be used for both personal and investment deposits.
- A personal Truist mortgage, credit card or consumer loan is available
- A Small Business Checking account should be linked
- Under 25 years old, you can still be a student
How can I open a Truist checking bank account?
You will need to submit certain personal and contact information in order to apply for and open a Truist account. This includes your Social Security number, two-years of address history, employment and income information, as well as information about your Social Security number. The Truist One checking account requires a $50 minimum deposit. However, the Truist Confidence Account has a $25 minimum deposit.
Is a Truist checking bank right for me?
Truist is an excellent choice for those who want a new checking account. It’s a great option for people who enjoy the flexibility and functionality of online and mobile banking, but don’t have the time or desire to switch to digital banking. If you have a tight budget, Truist’s zero overdraft fees or $100 Negative Balance Buffer may be a good option.
You may be able to access interest-earning accounts at other banks if you are looking for banking options that earn interest. Before you commit to any interest-bearing financial product, it is a good idea for you to compare the options.
Are you unsure if Truist is right? These are some alternatives.
- Chase: With more than 4700 bank locations and 16,000 ATMs Chase is an excellent choice for anyone looking for easy in-person banking.
- Ally Ally may be a good option for you if you are comfortable with online banking. Online banks offer more overdraft coverage, and interest-bearing banking.