SunTrust Bank, which merged with fellow regional bank BB&T to create a new bank known as Truist in 2019, is now positioned as the seventh-largest bank in the United States, with $413 billion in deposits and $321 billion in loans as of 2022 year's end. Despite the merger, however, SunTrust and BB&T have retained their own branding and products. SunTrust offers an array of banking products with unusual perks to customers in 10 southeastern states and the District of Columbia. Here’s what you need to know about SunTrust to decide if it’s the right bank for you. Pros & Cons Pros Seamless integration with digital payment applications Multiple ways to earn cash back and other perks Online, mobile, and text-based banking available Cons Only available in southeastern U.S. Website not completely transparent Low interest rates Company Overview Table of Contents SunTrust Bank Review Pros Explained Cons Explained Best For Bank Offerings Other Products Customer Service How to Bank Final Verdict FAQs Methodology SunTrust credit cards are no longer available. SunTrust will be the right bank for customers looking for perks with their basic checking and savings options. It may be a particularly good fit for those who: SunTrust has a wide array of banking products for its customers. These include: This basic savings account can be a good way for new savers to get acclimated to the habit of setting money aside. SunTrust’s Essential Savings account offers no interest, but it also has no minimum deposit and no monthly fees whatsoever (provided you opt out of receiving paper statements, which cost $3 per month). In addition, having an Essential Savings account gives you access to a 10% Loyalty Cash Bonus with a SunTrust Rewards credit card. You just need to redeem your cash back into a SunTrust Essential Savings account (or any other SunTrust deposit account) to receive the additional 10% loyalty bonus. Overdraft Assurance Fee Though overdraft protection is free, signing up for the Overdraft Assurance line of credit will trigger a $7 per month fee for the service. This $7 fee will be debited from your checking account each month. The Essential Checking account requires a $100 minimum deposit to open and comes with a $7 monthly maintenance fee. However, you can have the fee waived by doing one of the following: You will be subject to an overdraft fee of $36 if you overdraw your Essential Checking account, and you may be subject to up to six overdraft fees per day. However, this account comes with Default Decline, which means the account is set up to decline any ATM or one-time debit card transactions that may overdraw your account. You may also opt for the Transactions Paid Option, which will authorize a one-time debit card purchase or ATM transaction when there is not enough money available in the account, though it will also trigger the $36 overdraft fee. You may instead choose overdraft protection and link your Essential Checking account to another SunTrust deposit account, credit card, personal line of credit, or Overdraft Assurance line of credit to cover overdrafts, with a fee of $12.50 per transfer. Essential Checking account holders are also eligible for the 10% Loyalty Cash Bonus with a SunTrust Cash Rewards credit card. There are three tiers of the Advantage Checking account at SunTrust, although all three offer a 0.01% annual percentage yield (APY) on your balance. Like the non-interest-bearing Essential Checking account, Advantage Checking requires a $100 minimum deposit to open. All three tiers of Advantage Checking have a $20 per month maintenance fee that can be waived in one of the following ways: There are several perks that all three tiers of Advantage Checking share. These include a starter pack of 100 checks, access to up to four Essential Checking accounts with the monthly maintenance fees waived, three out-of-network ATM fees waived per billing cycle, SunTrust fees waived on incoming wire transfers, and free money orders and official checks. The big benefit of Advantage Checking, however, is the Loyalty Cash Bonus, and that’s where you see the difference between the three tiers. The first tier, Advantage, is when you carry a balance between $0 and $25,000, and it means you receive the 10% Loyalty Cash Bonus with a SunTrust Cash Rewards credit card. You reach the Advantage Choice tier when your balance is between $25,000 and $100,000, making you eligible for a Loyalty Cash Bonus of 25%. Reach the Advantage Preferred Tier with a balance of $100,000 or more, and you are eligible for a 50% Loyalty Cash Bonus. You have your choice of four different MasterCard credit card options with SunTrust, each geared toward a different consumer need. Every card on this list qualifies you for a Loyalty Cash Bonus if you have your cash-back rewards deposited into a SunTrust deposit account. *credit cards no longer available. SunTrust also offers the following products in addition to those listed above: SunTrust’s customer service line is available for automated service 24 hours a day at 1-800-786-8787, and the website offers a full menu of service options to help any banking customers needing assistance at any time of the day or night. However, the lack of transparency on the site extends to customer service information. For instance, the site does not provide information on what hours the call center is open for customers to speak to a human customer service rep. SunTrust’s app, however, is well-rated on both the Apple and Google Play stores, at 4.1 and 4.2, respectively. J.D. Power also notes that SunTrust has high satisfaction rankings among customers but was not included in the 2019 National Banking Satisfaction Study because its merger with BB&T (which is also highly rated) had not yet been completed at the time of the study. SunTrust makes it very easy to open an account online. Customers living in one of the 10 states served by the bank (and the District of Columbia) can also drop into one of the 1,406 branches or stop at one of the more than 2,000 ATMs for their transactions. The mobile banking options also make it easy for SunTrust customers to bank on the go, including using digital payment apps and text banking. While the lack of online transparency may make comparing SunTrust to other banks a little more difficult, this financial institution offers a number of solid perks with its myriad products and services. Though SunTrust’s rates for interest-bearing accounts and CDs may be relatively low, the Loyalty Cash bonuses may make up for these unimpressive rates. Yes, SunTrust and BB&T merged to create Truist. Both banks, products and branding included, now fall under the umbrella of Truist Bank. Truist does offer a free checking account called Truist One Checking. There is a $12 monthly maintenance fee. However, that fee can easily be waived if you either maintain a $500 balance across all your Truist accounts, make $500 or more in direct deposits per statement, have a credit card, mortgage or consumer loan through Truist, or are a student less than 25 years old.Additionally, Truist One Checking accounts do not charge overdraft fees. Truist One Checking accounts require a $50 minimum deposit. For eligible clients, these accounts also offer a $100 negative balance buffer. Truist charges a $5 monthly fee for debit cards. However, that fee can be waived if you make more than $500 in deposits to the card in the previous month.There is also a $2.50 fee for making an out-of-network ATM withdrawal. Truist's basic checking accounts and credit cards do not charge annual fees. However, to upgrade you will be charged a yearly fee. For example, with a Truist One Checking Account, you can ask to upgrade and receive the Delta SkyMiles® Debit Cardfor a fee of $95 annually. Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of banks. We collected over 20 data points across more than 80 banks—including products available, interest rates, fees, and accessibility—to ensure that our content helps users make the right decision for their savings and banking needs. Article Sources Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. Truist. "CD Disclosure Information." Truist. "Truist One Checking." Apps.Apple.com. "SunTrust Mobile App." Play.Google.com. "SunTrust Mobile App." J.D. Power. "TD Bank Ranks Highest in Customer Satisfaction in J.D. Power National Banking Study.":fill(white):max_bytes(150000):strip_icc()/suntrust_logo-efdb43d5756142f1a6cd4bf5441af3af.png "SunTrust Bank Review (1)"){kind=logo}
Pros Explained
Cons Explained
Who Is SunTrust Best For?
What Does SunTrust Offer?
Savings Account
Checking Accounts
Certificates of Deposit (CDs)
SunTrust/Truist Personal Certificates of Deposit (CDs) CD Term Tier APY Minimum Deposit 7 months $0–$9,999 5.00% $1,000 7 months $10,000–$49,999 5.00% $1,000 7 months $50,000–$99,999 5.00% $1,000 7 months $100,000–$99,999,999 5.00% $1,000 12 months $0–$9,999 4.50% $1,000 12 months $10,000–$49,999 4.50% $1,000 12 months $50,000–$99,999 4.50% $1,000 12 months $100,000–$99,999,999 4.50% $1,000 Credit Cards*
Other Financial Products Offered by SunTrust Bank
SunTrust Customer Service
How to Bank With SunTrust
Final Verdict
Frequently Asked Questions
Is SunTrust Bank the Same as Truist?
Does Truist Have Free Checking?
What Is the Minimum Opening Balance for Truist?
How Much Does Truist Charge for a Debit Card?
Does Truist have an annual fee?
Methodology
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