7/14/2023
Today, Truist Bank is the 7th largest financial institution in the United States. It is the result of the merger between BB&T and SunTrust, banks with a long history. This institution operates on the East Coast, has more than 2,000 branches and is on the list of the best for the quality of its services.
If you want to know how to open an account at Truist Bank, here's how easy it can be.
How to open an account at Truist Bank?
Opening a checking or savings account at Truist is actually quite simple. You can go to a bank branch and go through the process in person, with the guidance of a bank employee.
Checking account that you can open with an initial deposit of $50 and that offers you a free debit card and a facility to avoid the monthly handling fee.
Basic banking account with no checkbook and free debit card. Monthly maintenance fee is easy to avoid.
Interest-bearing savings account with easily avoidable monthly fee that allows you to earn a minimum return on your money from the first dollar.
You can also open the account online, for which you have to go to the official website of this entity. Once there, you will see the menu at the top. As there is no Spanish version, we will guide you to make your application without complications.
In the menu, the tab for accounts is Checking & savings. When you expand this option, you will see the available products. In this case, Truist only offers 2 checking accounts (One Checking and Confidence) and several savings alternatives.
No matter which banking product you choose, the process is the same:
- You click where it says Open now.
- This takes you to a page where you are asked if you are a customer of the bank or not. If you already are, you enter your login and password. If not, you must enter your zip code to go to the application form.
- Once you are in the online form, you must fill out a series of fields with personal information, such as full name, residency status, date of birth, email, phone number and SSN. In addition, you are asked for your current address, employment information and whether you will be adding a co-applicant.
- You deposit the minimum amount or more to complete the process. This bank requires a minimum deposit of $50 for most of its accounts.
Truist Bank Account Requirements
As far as we know, there are only a few requirements to open a Truist Bank account:
- Employment and income information.
- Address history for the last 2 years.
- Personal and contact information (including social security number).
- If the co-signer is a minor, you can add them at a branch. When 18 years of age or older, you can do this during the online process.
Advantages and disadvantages of Truist accounts
Before deciding on one bank or another, it is always good to know beforehand the positive and negative features of what it offers. When we don't do our homework, we can fall into a commercial relationship that could end up affecting your personal finances in the long run.
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In light of this, we want to highlight what we like about this bank and what could be improved:
Pros
- You can easily avoid fees associated with checking or savings accounts.
- Checking accounts do not include overdraft fees.
- These banking products have a buffer to keep you from spending more than you have.
- Offers the Online Savings account, which does not require a minimum deposit or maintenance fee, making it accessible to everyone.
Cons
- Outgoing wire transfers cost $30.
- Does not offer phone assistance on Sundays, like other large banks.
- The profitability of savings accounts is very low compared to other banks, and far from those that offer more, such as CIT Bank or Axos Bank.
Truist's banking experience
Truist Bank has a network of at least 3,000 ATMs in the 16 states in which it operates. If you want to receive personalized attention over the phone, you can call 844-487-8478 from 8 am to 8 pm (EST) Monday through Friday and 8 am to 5 pm on Saturdays. They also have a 24/7 automated help desk.
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You should know that this bank has Zelle and its app is among the best in the market, with 4.6 stars in the Apple Store and 4.7 stars in the Google Play Store. It also puts at your fingertips the LightStream personal loan division, considered one of the highest rated in the nation.
We've seen how opening an account at Truist Bank can be a simple, time-saving process that you can do on your favorite device. If you want to know what it's like at other banks, keep exploring Busconomico.
Español: ¿Cómo abrir una cuenta en Truist Bank?