Truist Bank was created in December 2019 from the merger of BB&T and SunTrust — two major Southeast regional banks. The combined institution is the 7th-largest US bank by assets, with 2,000+ branches across 17 states. Truist has largely completed its system integration and now operates as a unified brand with competitive checking products and (like most traditional banks) poor savings rates.
Truist is best for: Customers in the Southeast or Mid-Atlantic who want branch banking with lower fees than Chase or Wells Fargo.
Truist Bank at a Glance
| Feature | Details |
|---|---|
| Headquarters | Charlotte, NC |
| Assets | ~$535 billion (7th-largest US bank) |
| Branches | 2,000+ (17 states, Southeast/Mid-Atlantic) |
| ATMs | 3,000+ Truist ATMs + partner networks |
| FDIC insured | Yes |
| Savings APY | 0.01% |
| Checking APY | 0% (One Checking) |
Checking Accounts
Truist’s primary consumer checking products:
| Account | Monthly Fee | Waiver | Overdraft |
|---|---|---|---|
| One Checking | $12 | $500 DD or $500 balance | No fees (grace period) |
| Bright Banking | $5 | No waiver | Declines instead |
| Simple Checking | $5 | Various | $36 |
| Student Checking | $0 | Enrolled student | $36 or decline |
One Checking is the flagship account. The $12 fee is waived with $500/month in direct deposits or a $500 daily balance — similar waiver conditions to competitors at half the fee. Crucially, One Checking has no overdraft fees: Truist covers small shortfalls for customers in good standing, giving a grace period to restore the balance.
Bright Banking ($5/month, no waiver) is a budget-focused account that declines transactions when insufficient funds are present. No checks, no overdraft risk, no fee waiver needed — just a flat $5/month. This is Truist’s competitor to Chase Secure Banking and BofA SafeBalance.
Savings Rates
Truist savings accounts pay 0.01% APY — not competitive. See the Truist savings account guide for the full breakdown and alternatives.
ATM Network
Truist has approximately 3,000 branded ATMs. Unlike PNC (60,000+ through Allpoint) or U.S. Bank (40,000+), Truist’s in-network ATM footprint is smaller. Out-of-network ATM fee: $3.
Truist does not advertise a major ATM partnership network comparable to Allpoint or MoneyPass. Customers who use ATMs frequently outside Truist’s branch markets may face frequent out-of-network fees.
Digital Banking
Truist’s mobile app has improved significantly post-merger. Features include:
- Mobile check deposit
- Zelle
- Bill pay
- Account alerts
- Truist Assist (in-app financial guidance)
- Snapshot (financial overview dashboard)
Truist vs. Competitors
| Feature | Truist One | PNC Virtual Wallet | Wells Fargo Everyday |
|---|---|---|---|
| Monthly fee | $12 | $7 | $10 |
| DD waiver | $500 | $500 | $500 |
| Overdraft fee | None | $36 (with grace) | $35 |
| ATMs | 3,000 branded | 60,000+ | 11,000+ |
| Savings APY | 0.01% | 0.01% | 0.15% |
Truist’s no-overdraft-fee policy on One Checking is a strong differentiator. The smaller ATM network is a disadvantage vs. PNC.
Who Truist Bank Is Best For
- Customers in the Southeast or Mid-Atlantic with Truist branch access
- Those who want to avoid overdraft fees (One Checking)
- Customers who want lower fees than Chase or Wells Fargo without going online-only
- Those who will pair Truist checking with an external HYSA for savings
See also: Truist checking account | Truist savings account | Truist fees | Truist routing number
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