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Truist Bank Review 2022

Updated December 7, 2022
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At a glance

3.3
Rating: 3.3 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 2.5 stars out of 5

Checking

Rating: 4 stars out of 5

Savings

Rating: 2.8 stars out of 5

MMA

Rating: 2.2 stars out of 5

About Bankrate Score

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Overview

Truist Bank is best for consumers who live near one of its more than 2,100 locations in the South, East and Midwest. The Truist Student Checking account charges no monthly fee to account holders aged 23 and younger who attend school near one of its branches or ATMs.

Highlights

  • Large Branch Network
  • No Monthly Fees
Compare offers
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 3.3 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
4.15
%
APY
Rating: 3.3 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
2.00
%
APY
Rating: 3.3 stars out of 5
$0
Min. balance for APY
View offer Arrow Right

Overall

Truist was formed from the 2019 merger of BB&T and SunTrust banks. Truist was the seventh largest U.S. bank as of Sept. 30, 2022, according to the Federal Reserve.

Pros

  • Checkmark

    Truist’s over 2,100 branch locations make banking in person convenient for those living and traveling in the regions Truist serves.

  • Checkmark

    The Truist One Checking account doesn’t have overdraft fees.

  • Checkmark

    You can have your Truist checking and savings account fees waived by meeting low direct deposit and recurring transfer fee requirements.

  • Checkmark

    You may be eligible to have a negative balance buffer of up to $100 with the Truist One Checking account.

Cons

  • Generally, Truist Bank offers low yields.

  • Outgoing international wires cost $65.

  • Truist doesn’t offer Sunday customer service hours.

Truist Bank bank products

2.8
Rating: 2.8 stars out of 5
Bankrate Score

Truist Bank savings overview

You’ll need at least $50 to open the Truist One Savings account. You can waive the $5 monthly maintenance fee by:

  • Keeping at least $300 in the account.
  • Having a transfer of at least $25 from a different Truist account scheduled to be deposited into your Truist One Savings account each statement period.
  • Being under 18 years old.
  • Having any Truist checking account.
The Truist One Savings account’s APY is much lower than Bankrate’s national average.

Pros

  • Checkmark

    Only $50 is required for the Truist One Savings account.

  • Checkmark

    Having a checking account at Truist will waive the monthly service fee.

Cons

  • The Truist One Savings account doesn’t earn a competitive APY.

  • A $3 monthly fee applies for paper statements for the Truist One Savings account.

Compare Offer
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 3.3 stars out of 5
InfoHover for more
$0
Min balance for APY

Bank experience

Truist has about 2,100 branches in 17 states and the District of Columbia. Customers can get help with their accounts by phone 8 a.m. to 8 p.m. Eastern time, Monday-Friday, and 8 a.m. to 5 p.m., Saturday. Customer-service representatives aren’t available Sunday, but there is a 24-hour automated assistance line.

Truist’s app was rated 4.6 stars on both iOS and Google Play. Like many banks, Truist customers can use Zelle to send and receive money. The app can also be used to deposit checks and lock a Truist debit card.

About Truist Bank

Truist was formed by the 2019 merger of BB&T and SunTrust banks. It offers a range of banking products, including checking and savings accounts and certificates of deposit.

Truist Bank has more than 2,100 locations, mainly in Southern states but also in Indiana, Maryland, New Jersey, Ohio, Pennsylvania and the District of Columbia. The bank has its headquarters in Charlotte, North Carolina.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.