Ready to take control of your finances? Ever wondered if opening a new checking account could be simpler and more affordable than you think? Let's dive into the world of Truist checking accounts and uncover exactly how much you need to open a Truist checking account, along with a complete guide to getting started!
Truist, formed from the merger of BB&T and SunTrust, offers a variety of checking accounts designed to suit different financial needs. Understanding the minimum deposit, fees, and features of each is key to making the right choice.
How Much Do You Need to Open a Truist Checking Account? A Comprehensive Guide
The amount you need to open a Truist checking account depends on the specific type of account you choose. Generally, Truist offers personal checking accounts with varying minimum opening deposits, and some even come with ways to waive monthly maintenance fees.
Step 1: Discover Your Truist Checking Account Options
Before we talk about the numbers, let's explore the primary personal checking account options Truist offers. Knowing these will help you determine which one aligns best with your banking habits and financial goals.
- Truist One Checking: This is often highlighted as a versatile option with no overdraft fees and a tiered benefit system.
- Truist Confidence Account: Designed to help build financial confidence, this account also boasts no overdraft fees and no paper checks.
- Truist Wealth Checking: This account is geared towards clients with higher balances and offers exclusive benefits.
Step 2: Understand the Minimum Opening Deposits
This is where we get to the core of your question! The good news is that opening a Truist checking account generally doesn't require a hefty sum.
Tip: Don’t skim — absorb.
- For Truist One Checking: You'll typically need a minimum opening deposit of $50.
- For Truist Confidence Account: This account requires an even lower minimum opening deposit of $25.
- For Truist Wealth Checking: This account usually has a minimum opening deposit of $100.
It's important to note that these are the minimums to open the account. Different accounts might have ongoing balance requirements to avoid monthly maintenance fees, which we'll discuss next.
Step 3: Navigating Monthly Maintenance Fees and Waivers
While the opening deposit is a one-time thing, monthly maintenance fees can add up. Thankfully, Truist offers several ways to waive these fees, making their accounts even more attractive.
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Truist One Checking Monthly Maintenance Fee: This account typically has a $12 monthly maintenance fee. However, it can be waived in several ways, including:
- Making $500 or more in total qualifying Direct Deposits per statement cycle.
- Maintaining a total combined ledger balance of $500 or more in any Truist related accounts (personal deposits, investments).
- Having a personal Truist credit card, mortgage, or consumer loan.
- Having a linked Small Business Checking Account.
- Being a student.
- Being under the age of 25 or age 62 and older.
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Truist Confidence Account Monthly Maintenance Fee: This account has a lower $5 monthly maintenance fee. You can waive this by:
- Making $500 or more in total deposits per statement cycle.
- Making 10 or more qualifying transactions per statement cycle.
- Being a student.
- Being under the age of 25 or age 62 and older.
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Truist Wealth Checking Monthly Maintenance Fee: This account generally has a $50 annual maintenance fee that is charged three months after account opening and each year thereafter. This fee can be avoided by:
- Maintaining a minimum daily ledger balance of $25,000 in your Truist Wealth Checking or Truist Wealth Money Market account.
- Maintaining $100,000 or more in the sum of all current balances from Truist related accounts (across personal deposits, investments, Trust, personal mortgage, consumer loan/lines, personal credit card, or Truist Ready Now Credit Line accounts).
Always refer to the official Truist disclosures for the most up-to-date and complete fee information, as these can change.
Step 4: Essential Documents and Information for Opening Your Account
Regardless of the account type, you'll need some standard information and documents to open a Truist checking account. Having these ready will streamline the process.
QuickTip: Scroll back if you lose track.
- Personal Information:
- Your full legal name
- Date of birth
- Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN)
- Current physical address (not a P.O. Box)
- Phone number
- Email address
- Identification:
- A valid, government-issued photo ID (e.g., driver's license, state ID, passport)
- Funding Your Initial Deposit:
- Your routing and account number from an existing bank account (for electronic transfer)
- Debit card information
- Cash or a check (if opening in person)
Step 5: The Account Opening Process - Online, Phone, or In-Branch
Truist offers multiple convenient ways to open a checking account:
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Opening Online:
- Visit the Truist website and navigate to the "Open an Account" section for checking accounts.
- Select the checking account that best fits your needs.
- Complete the online application form, providing all the required personal information.
- Fund your new account using an electronic transfer from another bank, a debit card, or by scheduling a deposit.
- Review and submit your application. You'll typically receive confirmation within minutes.
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Opening by Phone:
- Call Truist directly at their customer service number (e.g., 844-4TRUIST or 844-487-8478).
- A representative will guide you through the application process and collect your information over the phone.
- They will explain how to make your initial deposit.
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Opening In-Branch:
- Locate your nearest Truist branch using their online branch locator.
- Visit the branch during business hours.
- A banking specialist will assist you with filling out the application and verifying your identity.
- You can make your initial deposit with cash, a check, or by transferring funds from another account.
Regardless of the method you choose, make sure to read all disclosures and agreements carefully before finalizing your account.
Step 6: What Happens After Opening Your Account?
Once your account is open, there are a few important steps to take to get the most out of your new Truist checking account:
- Activate Your Debit Card: Your new debit card will arrive in the mail. Activate it through the Truist mobile app, by calling the activation number, or by using it at an ATM with your PIN.
- Enroll in Online Banking and Download the Mobile App: This is crucial for managing your account, checking balances, paying bills, and sending money with Zelle®.
- Set Up Account Alerts: Configure alerts for low balances, large transactions, or direct deposits to stay on top of your finances.
- Consider Direct Deposit: Setting up direct deposit for your paycheck is a convenient way to fund your account regularly and can often help waive monthly fees.
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| How Much Do You Need To Open A Truist Checking Account |
Frequently Asked Questions (FAQs)
How to find the best Truist checking account for me?
The best account depends on your banking habits. Consider your typical monthly transactions, whether you need to write paper checks, your average balance, and if you can meet the waiver requirements for monthly fees. Truist One Checking is a good general option, while Confidence is great for building financial literacy, and Wealth for high-net-worth individuals.
QuickTip: Scan the start and end of paragraphs.
How to waive monthly maintenance fees for Truist checking accounts?
Waiver requirements vary by account type. Common ways include maintaining a minimum balance, setting up direct deposits, having other Truist products (like a credit card or loan), or meeting age/student criteria.
How to open a Truist checking account online?
Visit the Truist website, select the desired checking account, complete the online application form with your personal and identification details, and fund your initial deposit electronically.
How to make an initial deposit for a Truist checking account?
You can typically make your initial deposit via electronic transfer from another bank account, using a debit card, or by depositing cash or a check at a Truist branch or ATM.
How to get a Truist debit card?
Your Truist debit card will be mailed to you after your checking account is opened. You'll need to activate it once it arrives.
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How to avoid overdraft fees with Truist?
Truist One Checking and Confidence Account are designed with no overdraft fees. For other accounts, consider linking a savings or money market account for overdraft protection, or utilize features like Truist's Balance Buffer if eligible.
How to set up direct deposit with Truist?
You'll need to provide your employer with your Truist checking account's routing number and account number, usually found on a check or within your online banking portal.
How to check my Truist account balance?
You can check your balance through the Truist online banking portal, the Truist mobile app, at a Truist ATM, or by calling their customer service line.
How to connect other bank accounts to my Truist account?
You can typically link external accounts through the Truist online banking platform or mobile app, allowing for easy transfers between institutions.
How to contact Truist customer service for checking account inquiries?
You can contact Truist customer service by phone (e.g., 844-4TRUIST), through their online chat feature on their website, or by visiting a local Truist branch.
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