2023 Truist Bank Review Truist Rates Today
2023 Truist Bank Review Truist Rates Today
Truist Bank: A Southeastern Gem with No Overdraft Fees
When it comes to banking, we all want to avoid unnecessary fees. That’s where Truist Bank, a Southeastern institution, stands out. While many national banks charge hefty fees for overdrawing your account, Truist offers two checking accounts with no overdraft fees. But that’s not all – Truist also offers high rates on 7-month and 12-month certificates of deposit (CDs). However, if you’re looking to earn high interest rates on your savings or other CD terms, you might want to consider the best online banks instead.
Truist One Savings Review: A Gateway to Higher Rates
The Truist Bank Online Savings Account is a great option for those who want to avoid monthly service fees. To waive the fee, all you need to do is maintain a minimum balance of $300, schedule a recurring transfer of $25 into your account, or open a Truist checking account. If you’re under 18 years old, the fee is automatically waived. However, if you’re looking to earn a higher rate, you might want to explore the best savings accounts available.
Truist Confidence Account Review: Overdraft Fee-Free Checking
If you’re tired of getting hit with overdraft fees, the Truist Confidence Account may be the perfect fit for you. This solid checking account doesn’t include paper checks and won’t allow transactions that would result in an overdraft. While it doesn’t have overdraft fees, there is a $5 monthly service fee to keep in mind.
Truist Bank CD Review: Competitive Rates on Short-Term Terms
Truist Bank offers competitive rates on their 7-month and 12-month CDs. If you’re looking for a short-term investment with high returns, these CD terms are worth considering. However, for other CD terms or savings accounts, you may want to explore the options provided by the best online banks.
Truist Bank One Money Market Account Review: Worthwhile with a Minimum Balance
Truist’s money market account can be a good choice if you can maintain a minimum balance of $1,000. By meeting this requirement, you’ll waive the monthly maintenance fee. However, if you prefer a simpler savings account with no monthly fee, the Truist Bank Online Savings Account may be a better option for you.
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About Truist Bank: A National Presence
Truist Bank is a popular brick-and-mortar institution with over 2,100 branches and 3,000 ATMs nationwide. If you’re in one of the following states, you’ll find a Truist Bank location near you: Alabama, Arkansas, Georgia, Florida, Indiana, Kentucky, New Jersey, Maryland, Mississippi, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, and Washington, D.C.
In July 2022, Truist Bank launched Truist One Banking, offering new bank accounts that allow customers to avoid overdraft fees. The Truist Confidence Account and Truist One Checking are two checking accounts now offered by Truist Bank. As part of their commitment to providing customers with a better banking experience, Truist has also eliminated fees for overdraft protection transfers and overdrawn account balances on existing consumer accounts.
To reach a customer service representative, you can call Truist Bank from 8 a.m. to 8 p.m. ET on weekdays or 8 a.m. to 5 p.m. ET on Saturdays. Truist also offers a highly-rated mobile app with 4.7 out of 5 stars in both the Apple and Google Play stores.
As a customer, you can have peace of mind knowing that Truist Bank is FDIC insured, ensuring that your deposits of up to $250,000 in an individual bank account are secure. The Better Business Bureau has awarded Truist Bank an A+ rating, indicating their commitment to handling customer issues, transparency, and advertising ethically. While a good BBB rating is important, it’s always a good idea to talk to current customers or read online reviews to ensure Truist Bank is the right fit for you.
How Truist Bank Compares to Other Institutions
Truist Bank vs. Regions Bank
Both Truist Bank and Regions Bank have substantial branch and ATM networks in the Southeast. When choosing between the two, it will likely come down to the differences in their individual accounts.
If you’re looking for a savings account, Regions Bank might be the better option. Their Regions LifeGreen® Savings Account has zero monthly service fees, while Truist One Savings may charge a $5 monthly fee if certain requirements are not met. On the other hand, if you’re interested in a checking account, Truist Bank makes it easier to waive the monthly service fees compared to Regions Bank.
Truist Bank vs. Fifth Third Bank
When it comes to savings accounts, Truist Bank has the advantage. Truist One Savings offers a slightly easier path to waive the monthly service fee compared to the Fifth Third Momentum® Savings Account. However, if you’re in the market for a checking account, Fifth Third Bank is the clear winner. With a free checking account and access to over 55,000 free ATMs through the Allpoint ATM network, Fifth Third Bank offers convenient and affordable banking solutions.
Overall, Truist Bank shines as a Southeastern gem, providing customers with no overdraft fees and competitive rates on short-term CDs. While they may not offer the highest interest rates on savings or other CD terms, Truist Bank’s commitment to customer service and convenience make it a solid choice for those in the Southeast.
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