Truist Bank Review 2023
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At a glance

CDs
Checking
Savings
MMA
About Bankrate Score
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 bank also has around 3,000 ATMs. It offers savings and checking accounts, CDs and a money market account, most of which require low minimum deposits.
Highlights
- Large Branch Network
- Highly Rated App
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Overall
Truist has some accounts that are worthwhile and others that aren’t. While the bank generally offers paltry yields for savings products, at least some of its CDs offer competitive rates. But the bank does offer a good checking account that comes with a highly-rated app and extra perks, depending on the amount of money you deposit.
Pros
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Truist’s over 2,100 branch locations make banking in person convenient for those living and traveling in the regions Truist serves.
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The Truist One Checking account doesn’t have overdraft fees.
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Truist Online Savings account has no minimum deposit requirement and has no monthly service fee, making it accessible to nearly anyone.
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The 9- and 12-month CDs currently offer high APYs.
Cons
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Outgoing international wires cost $65.
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Truist doesn’t offer phone-based customer service on Sundays, unlike some competitors.
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Most of Truist’s yields are not competitive.
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CDs cannot be opened online.
Truist Bank banking products
Truist Bank savings overview
This account offers an extremely low APY, much lower than the national average and what many other banks offer.
Withdrawals are limited to six per month. If you go over that limit, you’ll be charged a $5 fee for each additional withdrawal.
Pros
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A relatively low minimum deposit of $50 is required for the Truist One Savings account.
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The Truist One Savings account charges a $5 monthly service fee, yet it may be easy for some customers to waive.
Cons
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The Truist One Savings account doesn’t earn a competitive APY.
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A $3 monthly fee applies for paper statements for the Truist One Savings account.
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The account isn’t tiered.
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There’s a $5 fee for each withdrawal above the monthly limit.
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank fees
Fee | Charged? |
---|---|
Overdraft fee | None |
Non-sufficient funds fee | None |
Monthly maintenance fee | $5 - $12, depending on the account |
Out-of-network ATM fee | $3 per transaction |
Excessive transaction fee | $5 - $15, depending on the account |
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.
Bank experience
Truist has more than 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 is rated highly for iOS and Android devices. Like with 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.
How Truist compares to other banks
Truist vs. TD Bank
Truist and TD Bank are two of the largest banking institutions in the U.S., and each bank has more than $350 billion in total assets. However, Truist is a bit larger with approximately 1,000 more branches than TD Bank across 18 states, whereas TD can be found in 16.
Truist generally has better CD rates for customers and offers a money market account, which TD Bank doesn’t. And TD’s checking accounts aren’t as good as Truist’s, either, as TD has costlier monthly maintenance fees (it can be up to $13 more per month) and still charges a $35 overdraft fee where Truist charges none.
That noted, TD Bank allows you to open CDs online, unlike Truist, and offers bonuses for new checking accounts if you meet certain criteria.
Truist FAQs
Review methodology
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.