Truist Bank Review 2024: Today's Truist Rates
- About Truist
- Is Truist Bank trustworthy?
- Savings Review
- Checking Review
- CD Review
- Money Market Account Review
- How Truist Compares
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Truist is a decent choice if you live in the Southeast and want to avoid overdraft fees. Many national banks charge you when you overdraw, but Truist has two checking accounts with no overdraft fees. But to earn the highest interest rates, you may want to consider the best online banks instead.
Truist Bank
Truist Bank is a national bank with over 2,000 branches and 3,000 ATMs.
Trust Bank Branch Locations Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.- Alabama
- Arkansas
- Georgia
- Florida
- Indiana
- Kentucky
- New Jersey
- Maryland
- Mississippi
- North Carolina
- Ohio
- Pennsylvania
- South Carolina
- Tennessee
- Texas
- Virginia
- West Virginia
- Washington, DC
In July 2022, Truist Bank launched Truist One Banking. Truist Banking offers new bank accounts that allow new customers to avoid overdraft fees. Two checking accounts now offered by Truist Bank are the the Truist Confidence Account and Truist One Checking. Previously, Truist had also discontinued fees for overdraft protection transfers and overdrawn account balances on existing consumer accounts.
To get in touch with a 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.
The Truist mobile app has 4.7 out of 5 stars in both the Apple and Google Play stores.
Truist 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: Overall Rating
| Feature | Personal Finance Insider rating (out of 5) |
| Savings | 3.5 |
| Checking | 4 |
| Money market | 3 |
| Trustworthiness | 5 |
| Total | 4 |
Truist Bank Pros and Cons
| Pros | Cons |
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Is Truist Bank Trustworthy?
The Better Business Bureau rates businesses on how they respond to customer issues, advertise, and handle transparency. Trust Bank received an A+ rating from the BBB.
Truist hasn't been involved in any recent public scandals.
Truist Bank Accounts
Truist Bank Savings Account
The Truist Bank Online Savings Account works best if you can avoid paying the account's no monthly service fee 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 Truist checking account. The fee will also automatically be waived if you're under the age of 18.
Truist One Savings Start saving Truist Bank, Member FDIC
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Fees$5 monthly service fee
Annual Percentage Yield (APY)0.01%
Minimum Deposit Amount$50
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Possible to waive fees
- con icon Two crossed lines that form an 'X'. Low interest rate
- con icon Two crossed lines that form an 'X'. $50 minimum opening deposit
- con icon Two crossed lines that form an 'X'. $5 monthly service fee
- con icon Two crossed lines that form an 'X'. $3 paper statement fee
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.
Product Details- 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 Bank Checking Account
The Truist One Checking is a solid checking account if your goal is to avoid overdraft fees. The account doesn't include any paper checks and may deny your transaction if you don't have sufficient money in your bank account, so prevent an overdraw. Eligible customers may also recieve a $100 negative balance buffer.
You'll have to be mindful of a $12 monthly services fee monthly service fee, though.
Truist One Checking Start banking Truist Bank, Member FDIC Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks Info icon Earn $300 for opening a new Truist One Checking account online using code TRUIST300Q323 and after completing at least two qualifying Direct Deposits totaling $1,000 or more within 90 days of account opening (offer ends 10/31/23)Fees$12 monthly services fee
Annual Percentage Yield (APY)N/A
Minimum Deposit Amount$50
Bonus$300
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No overdraft fees
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Easy to waive $12 monthly fee
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Earn additional awards on eligible Truist credit cards
- con icon Two crossed lines that form an 'X'. $50 minimum opening deposit
- con icon Two crossed lines that form an 'X'. $12 monthly service fee if not waived
- con icon Two crossed lines that form an 'X'. $3 paper statement fee
- con icon Two crossed lines that form an 'X'. $3 out-of-network ATM fee
- Over 2,000 branches and 3,000 ATMs in the Southeast
- To waive the $12 monthly service fee, do one of the following each month: Make $500 or more in direct deposits per statement cycle, maintain a combined total balance of $500 in all eligible Truist accounts before each statement cycle end date, have a personal Truist credit card or mortgage or consumer loan (excluding LightStream), link to a Small Business Checking Account, or be a student under age 25
- To waive the $3 paper statement fee, sign up for paperless online statements
- Account has a tiered system, and each tier comes with more benefits; reach the next tier when your average monthly balance hits $10k, $25k, $50k, and $100k
- FDIC insured
Truist Bank CD
Truist Bank no longer allows you to open CDs online, and rates vary by location. To ask about opening a Truist CD, contact your local branch.
Truist Bank Money Market Account
Truist's money market account might be worthwhile if you're able to maintain at least $1,000 in your account. By meeting this requirement, you'll waive the $12 monthly service fee monthly bank maintenance fee.
Otherwise, the bank's savings account will be easier to manage since it doesn't have a monthly fee.
Truist Bank One Money Market Account
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Fees$12 monthly service fee
Annual Percentage Yield (APY)0.01%
Minimum Deposit Amount$50
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low minimum opening deposit
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Possible to waive the monthly maintenance fee and paper statement fee
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Check writing included
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Debit card option
- con icon Two crossed lines that form an 'X'. Low interest rate
- con icon Two crossed lines that form an 'X'. $12 monthly maintenance fee
- con icon Two crossed lines that form an 'X'. $3 paper statement fee
- 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
How Truist Bank Compares
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 over Truist Bank. The Regions LifeGreen® Savings Account has zero monthly service fees, while Truist One Savings may require a $5 monthly service fee if you don't meet certain requirements.
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 Truist Bank than Regions Bank.
Truist Bank vs. Fifth Third Bank
You'll probably lean more toward Truist Bank if you're looking to open a savings account. Truist One Savings makes it a bit easier to waive the monthly service than the Fifth Third Momentum® Savings Account.
The opposite is true when it comes to checking accounts. Fifth Third Bank will likely edge out Truist and even Regions. 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.
Sophia Acevedo, CEPF Banking Reporter Sophia Acevedo is a banking reporter at Business Insider. Sophia joined Business Insider in July 2021. She writes bank reviews, banking guides, and banking and savings articles for Personal Finance Insider. She is also a Certified Educator in Personal Finance (CEPF).Sophia is an alumna of California State University Fullerton where she studied journalism and minored in political science. She is based in Southern California.You can reach out to her on Twitter at @sophieacvdo or email sacevedo@businessinsider.com.Read more about how Personal Finance Insider chooses, rates, and covers financial products and services >>Below are links to some of her most popular stories:- Are banks open today? Here's a list of US bank holidays for 2023
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Betterment Cash Reserve Account New Customer Offer: Earn 5.50% APY when you open your first cash account with $10 deposit. Terms apply. A tooltip *Current promotional rate; annual percentage yield (variable) is 4.75% as of 7/31/23, plus a .75% boost available as a special offer with qualifying deposit. Terms apply; if the base APY increases or decreases, you'll get the .75% boost on the updated rate. Cash Reserve is only available to clients of Betterment LLC, which is not a bank, and cash transfers to program banks are conducted through clients’ brokerage accounts at Betterment Securities. **The national average savings account interest rate is reported by the FDIC (7/17/23) as the average annual percentage yield (APY) for savings accounts with deposits under $100,000. Start SavingncG1vNJzZmivp6x7o8HSoqWeq6Oeu7S1w56pZ5ufonyxsdGspqeZnGKzqrrAp5qeZ6Snwqq%2F02aZmqabYr%2Bmwsierg%3D%3D