What Truist does well and where it falls short

Whether Truist is a good bank depends on what you need from a checking account, savings account, or loan product. Truist operates in 17 states across the Southeast and Mid-Atlantic, so geography matters first — if you live outside those states, you cannot use their branch network or ATM access. For customers within their footprint, Truist offers a full range of retail banking: checking, savings, money market accounts, CDs, mortgages, auto loans, and credit cards.

Truist's strength is in-person service. The bank has over 2,700 branches and more than 8,000 ATMs, so if you prefer walking into a location to deposit checks, speak with a banker, or resolve account issues face-to-face, that network matters. Their customer service is available by phone, online chat, and in branch. The weakness for many customers is fees and interest rates. Truist's checking accounts carry monthly maintenance fees unless you meet balance or deposit requirements, and their savings account rates are typically lower than what online-only banks offer.

Key Takeaways

  • Truist operates only in 17 southeastern and mid-Atlantic states, so branch and ATM access depends entirely on where you live.
  • Most Truist checking accounts charge a monthly fee ($12 to $15) unless you maintain a minimum balance or set up direct deposit.
  • Truist savings accounts and money market accounts earn interest rates that are usually lower than rates from online banks, though rates change regularly.
  • Truist offers in-person banking, loan products, and investment services through a single institution, which simplifies banking for customers who want everything in one place.

Checking account fees and balance requirements

Truist's main checking account is called the Truist One Checking account. It charges a $12 monthly maintenance fee, but the fee is waived if you maintain a minimum daily balance of $1,500 or set up direct deposit of at least $500 per month. For customers who cannot meet either requirement, the fee applies every month.

Truist also offers Truist Preferred Checking, which charges $15 per month. This account waives the fee with a $5,000 minimum daily balance or $1,000 in direct deposits per month. The higher balance requirement makes this account less practical for most people unless they already carry that balance for other reasons.

Both accounts include unlimited debit card transactions, online bill pay, and mobile check deposit. Neither account pays interest on the checking balance itself. If you are comparing Truist to online banks like Ally, Charles Schwab, or Discover, those institutions offer checking accounts with no monthly fee and no minimum balance requirement, though they do not have physical branches.

Savings account rates and terms

Truist offers a Truist Savings Account and a Truist Money Market Account. Both earn interest, but the rates are set by Truist and change based on market conditions and the bank's own pricing decisions. As of the most recent public information, Truist's savings rates are competitive with other regional banks but typically lower than rates offered by online-only banks. You would need to check Truist's website directly for current rates, as they vary and change frequently.

The savings account has no minimum opening deposit and no monthly fee. The money market account requires a higher opening deposit (typically $2,500 or more, depending on the specific product) and may have tiered interest rates based on your balance. Both accounts limit you to six withdrawals per month under federal rules, though that rule has been relaxed in recent years and many banks no longer enforce it strictly.

If earning the highest possible interest rate is your priority, online savings accounts from banks like Marcus, Ally, or American Express typically offer rates 0.5% to 1.5% higher than Truist, with no monthly fees and no minimum balance.

Loan products and credit cards

Truist offers mortgages, home equity lines of credit, auto loans, personal loans, and credit cards. Mortgage rates and terms vary based on your credit score, down payment, and the current market. You can compare Truist's mortgage rates to other lenders by requesting quotes — rates are not published on their website and differ for each borrower.

Truist credit cards include cash-back cards, travel rewards cards, and cards for building credit. The rewards rates and annual fees vary by card. Some cards have no annual fee, while others charge $95 or more. You would need to review the specific card terms to see whether the rewards structure and benefits match your spending.

Auto loans through Truist are available to customers with a range of credit scores. Interest rates depend on your credit history, the age and value of the vehicle, and the loan term. Truist does not publish auto loan rates online, so you would need to contact them or visit a branch for a quote.

Online and mobile banking features

Truist's mobile app and online banking platform let you check balances, transfer money between accounts, pay bills, deposit checks by photo, and set up alerts. The app is available on iOS and Android. Customer reviews of the app are mixed — some users report it is straightforward and reliable, while others mention occasional glitches or confusing navigation.

Truist also offers bill pay through their online platform, allowing you to schedule payments to businesses and individuals. You can set up recurring payments or one-time payments. The service is included with checking and savings accounts at no extra charge.

If you bank primarily online and rarely visit a branch, Truist's digital tools may feel adequate, but they are not notably more advanced than what other regional or national banks offer. Online-only banks typically have simpler, faster mobile apps because they have no legacy branch systems to integrate with.

Customer service and support channels

Truist offers customer service by phone (available 24/7 for some services), through online chat during business hours, and in person at any of their 2,700+ branches. Phone wait times vary depending on call volume and the complexity of your issue. In-branch service is available during branch hours, which typically run Monday through Friday 9 a.m. to 5 p.m., with limited Saturday hours at some locations.

Customer satisfaction ratings for Truist are mixed. The bank has received complaints about long phone wait times, difficulty reaching a representative, and frustration with fee structures. However, other customers report positive experiences with in-branch staff and problem resolution. Your experience will depend on which branch you use, which representative you reach, and the nature of your issue.

Comparing Truist to other banking options

If you live in Truist's service area and value in-person banking, Truist competes with other regional banks like Bank of America, Wells Fargo, and local community banks. Bank of America and Wells Fargo have larger branch networks (though also higher fees in some cases), while community banks may offer more personalized service but fewer digital tools.

If you prioritize low fees and high savings rates, online banks like Ally, Marcus, Charles Schwab, and Discover offer no-fee checking, no-fee savings, and higher interest rates. The trade-off is no physical branches and no in-person service.

If you want a middle ground — a bank with some branches but lower fees than Truist — regional banks like Ally Bank (which has limited branch access through partnerships) or credit unions in your area may be worth exploring. Credit unions often have lower fees and better rates than traditional banks, though membership is restricted to people who meet certain criteria.

Frequently Asked Questions

Does Truist have branches outside the Southeast?

No. Truist operates in 17 states: Alabama, Arkansas, Delaware, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, Missouri, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia. If you live outside these states, you cannot use Truist branches or ATMs.

Can I avoid the monthly checking account fee?

Yes. The $12 monthly fee on Truist One Checking is waived if you maintain a $1,500 minimum daily balance or set up direct deposit of at least $500 per month. If neither is possible for you, the fee applies every month, which adds up to $144 per year.

Does Truist pay interest on checking accounts?

No. Truist checking accounts do not earn interest. If you want interest on money you use for everyday spending, you would need to use a savings account or money market account, which have withdrawal limits and lower accessibility than checking.

How do Truist's savings rates compare to online banks?

Truist's savings rates are typically lower than rates from online-only banks. The exact difference changes as rates move, but online banks often offer 0.5% to 1.5% higher rates. You should compare current rates directly on both Truist's website and the websites of online banks you are considering.

Is Truist safe for my money?

Yes. Truist is a federally chartered bank insured by the Federal Deposit Insurance Corporation (FDIC). Your deposits up to $250,000 per account type are protected if the bank fails. This protection applies to checking, savings, and money market accounts held in your name alone.