Truist Bank is a national brick-and-mortar institution that’s mainly available in the Southeastern region of the US.
Truist; Rachel Mendelson/Insider
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The bottom line: Truist is a decent choice if you live in the Southeast and want to avoid overdraft fees. The bank recently launched Truist One Banking, which includes two checking accounts with no overdraft fees. But for high interest rates, you’ll have to look elsewhere.
Overall bank rating
Feature Insider rating (out of 5)Savings3.5Checking4CD3.25Money market3Trustworthiness5Total3.75
Pros and cons
ProsCons
Over 2,100 branches in the Southeast
Variety of CD terms
Possible to waive monthly service fees
Checking accounts with no overdraft fees
Pays low interest ratesMonthly service fees on most accountsStandard-to-high early withdrawal penalties on CDs
Truist One Savings
The Truist Bank Online Savings Account works best if you can avoid paying the account’s $5 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.
If you’d like to earn a higher rate, you might favor a high-yield savings account with an online institution.
Truist Confidence Account
The Truist Confidence Account 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 you can’t overdraw.
You’ll have to be mindful of a $5 monthly service fee, though.
Truist Bank Certificate of Deposit
You may like Truist Bank if you want to explore a variety of term options — terms start as short as seven days. You’ll need either $1,000 or $2,500 to open a CD (depending on the term). Rates are also pretty low on all CDs, though.
Truist Bank Money Market Account
Truist’s Truist Bank 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 maintenance fee.
Otherwise, the bank’s savings account will be easier to manage since it doesn’t have a monthly fee.
How Truist Bank works
Truist Bank is a national brick-and-mortar institution with over 2,100 branches and 3,000 ATMs. You’ll find a brick-and-mortar location in the following states:
AlabamaArkansasGeorgiaFloridaIndianaKentuckyNew JerseyMarylandMississippiNorth CarolinaOhioPennsylvaniaSouth CarolinaTennessee TexasVirginia 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 8:00 a.m. to 8:00 p.m. ET on weekdays or 8:00 a.m. to 5:00 p.m. ET on Saturdays.
Your mobile app experience may vary depending on which type of phone you have. The Truist mobile app has 4.3 out of 5 stars in the Google Play Store. Meanwhile, in the Apple Store, the bank’s mobile app has 4.6 out of 5 stars.
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 trustworthiness and BBB rating
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.
A good BBB rating won’t necessarily ensure that your relationship with an institution will be the same as everyone else’s relationships, though. To see if Truist is a good match, talk to current customers about their experiences or read online customer reviews.
Truist hasn’t been involved in any recent public scandals.
Truist Bank vs. Regions Bank
We compared Truist Bank to two other banks found in the Southeast: Regions Bank and Fifth Third Bank.
Truist
Regions Bank
Total branch locations
Over 2,100 in 17 states, plus Washington, DC
Total branch locations
Over 1,300 in 15 states
Standout feature
Checking account with no overdraft fees
Standout feature
Free savings account with a low minimum opening deposit
Truist One SavingsRegions LifeGreen® Savings Account
Both financial insertions have 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 to 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
Truist
Fifth Third Bank
Total branch locations
Over 2,100 in 17 states, plus Washington, DC
Total branch locations
Over 1,100 in 10 states
Standout feature
Checking account with no overdraft fees
Standout feature
Free checking account with no minimum opening deposit
Truist One SavingsFifth Third Bank Momentum Savings Account
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 Bank Momentum Savings Account
The opposite is true when it comes to checking accounts. Fifth Third Bank will likely edge out Truist and 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.