Life transitions often come with financial adjustments, and sometimes that means saying goodbye to an old bank account. If you're looking to close your Truist checking account, whether it's because you've found a new banking home, are consolidating accounts, or simply no longer need it, this comprehensive guide will walk you through every essential step.
Are you ready to streamline your finances and make this transition as smooth as possible? Let's dive in!
Step 1: Prepare for Closure – Your Financial Housekeeping Checklist
Before you officially initiate the closure of your Truist checking account, it's crucial to ensure all your financial ducks are in a row. Ignoring this step can lead to significant headaches, missed payments, or even unexpected fees.
1.1: Redirect Direct Deposits and Automatic Payments
This is arguably the most critical part of your preparation. Think about every income source and every regular outgoing payment.
-
Direct Deposits:
- Your Paycheck: Contact your employer's HR or payroll department and provide them with the new routing and account numbers for your new bank account. Make sure to confirm when the change will take effect.
- Government Benefits (Social Security, VA, etc.): If you receive government benefits, you'll need to update your direct deposit information with the relevant agency. This can often be done online or by phone.
- Other Income: Any other regular income, like freelance payments or rental income, needs to be rerouted.
-
Automatic Payments (ACH Debits):
- Utilities: Electricity, water, gas, internet, phone.
- Loan Payments: Mortgage, car loan, student loan, personal loans.
- Subscriptions: Streaming services, gym memberships, software subscriptions.
- Credit Card Payments: If you have automatic payments set up for your credit cards.
- Insurance Premiums: Health, auto, home insurance.
- Rent/Mortgage: If you have automatic payments for housing.
Action Item: Go through your last few bank statements to identify all recurring transactions. Create a list and contact each service provider to update your payment information. Allow ample time for these changes to process, typically one to two billing cycles.
1.2: Clear Outstanding Transactions
Ensure there are no pending checks, debit card transactions, or ACH transfers that haven't cleared yet. If you have written checks recently, confirm they have been cashed before proceeding. Any outstanding transactions could cause issues and potentially lead to your account being overdrawn, incurring fees, or delaying the closure process.
QuickTip: Note key words you want to remember.
1.3: Transfer or Withdraw Remaining Funds
Once you're sure all direct deposits and automatic payments have been rerouted and all outstanding transactions have cleared, you'll need to move any remaining funds out of your Truist checking account.
- Electronic Transfer: The easiest way is usually to transfer the funds electronically to your new bank account. You can typically do this through online banking at either Truist or your new bank (using external account linking).
- Withdraw Cash: If you prefer cash, you can visit a Truist branch and withdraw your balance.
- Cashier's Check/Official Check: For larger sums, or if you prefer a physical record, you can request a cashier's check for the remaining balance. Be aware that there might be a fee for this service.
1.4: Check for Fees
Review Truist's fee schedule (often available on their website or by asking customer service) to see if there are any early account closure fees. Some banks charge a fee if you close an account shortly after opening it (e.g., within 90 or 180 days). If there's a fee, weigh whether it's worth waiting to avoid it. Also, ensure your account isn't in a "charged-off" status, as this can incur a $30 fee.
 |
| How To Close Truist Checking Account |
Step 2: Choose Your Closure Method
Truist offers a few ways to close your checking account. Select the method that's most convenient for you.
2.1: In-Person at a Truist Branch
This is often the most straightforward and recommended method, especially if you have complex issues or want immediate confirmation.
Tip: Don’t skim past key examples.
-
What to Bring:
- Valid Photo ID: Driver's license, state ID, or passport.
- Account Information: Your Truist checking account number and routing number.
- Debit Card and Unused Checks: Be prepared to surrender your debit card and any unused checks associated with the account.
- Funds Destination: If you haven't already transferred the funds, know where you want them to go (e.g., details for your new bank account or be prepared to receive a cashier's check).
-
The Process:
- Inform a teller or personal banker that you wish to close your checking account.
- They will verify your identity and account details.
- Confirm that all recurring payments and direct deposits have been moved.
- They will process the transfer of your remaining balance.
- Crucially, ask for written confirmation of the account closure before you leave.
2.2: By Phone
Closing an account over the phone can be convenient, but ensure you have everything prepared beforehand.
 |
- Truist Customer Service: Call Truist's customer service number: 844-4TRUIST (844-487-8478). Their general operating hours are Monday through Friday, 8 am to 8 pm ET, and Saturday, 8 am to 5 pm ET.
- Be Prepared: Have your account number, personal information (to verify your identity), and details for where you want the remaining funds transferred (e.g., your new bank's routing and account number).
- Confirmation: Ask the representative to send you written confirmation of the account closure via email or mail. Note down the representative's name and a confirmation number, if provided.
2.3: By Mail (Less Common for Checking)
While less common for checking accounts due to the need to transfer funds and ensure no outstanding activity, it might be an option in specific circumstances.
- Written Request: You would typically need to send a signed written request stating your intention to close the account, including your account number, full name, and instructions for how to handle the remaining balance (e.g., send a cashier's check to your address on file).
- Certified Mail: Send the letter via certified mail with a return receipt requested to ensure it was received.
- Recommendation: Unless you have no other option, it's generally better to use an in-person or phone method for checking accounts to ensure a smoother transition of funds and immediate confirmation.
Step 3: Confirm Closure
Even after you've completed the steps above, it's vital to confirm the account is indeed closed to avoid any surprises.
3.1: Obtain Written Confirmation
As mentioned in Step 2, always request written confirmation of the account closure. This serves as your official record that the account has been terminated and you are no longer responsible for it. This confirmation might be a letter mailed to you or an email.
QuickTip: Don’t just consume — reflect.
3.2: Monitor Your New Account and Truist Online Banking
- New Account: Over the next few weeks, diligently monitor your new bank account to ensure all expected direct deposits and automatic payments are indeed routing correctly.
- Truist Online Banking: Attempt to log into your Truist online banking. If the account is successfully closed, you should no longer have access to it, or it will show as closed. You might still be able to view past statements for a period, but no new activity should appear.
3.3: Shred Sensitive Documents
Once you have confirmed the account is closed and you no longer need them, shred any remaining unused checks, your Truist debit card (cut it up!), and any old account statements. This helps prevent fraud and identity theft.
Important Considerations:
- Joint Accounts: If it's a joint account, both account holders may need to be present or provide authorization for closure, depending on Truist's policy. Always check with the bank first.
- Linked Accounts: If your checking account is linked to other Truist accounts (e.g., savings, credit card for overdraft protection, or loans), ensure you unlink them or make alternative arrangements before closing the checking account.
- Overdrafts: Make sure your account has a zero or positive balance. Truist generally requires a positive balance to close an account. If it's negative, you'll need to deposit funds to bring it to zero before closure can proceed.
- Early Closure Fees: Reiterate the importance of checking for these. They can range from $25-$50.
10 Related FAQ Questions
How to check my Truist account balance before closing?
You can check your Truist account balance through online banking, the Truist mobile app, by calling customer service at 844-4TRUIST, or by visiting a Truist ATM or branch.
How to transfer money out of my Truist checking account to another bank?
You can initiate an electronic transfer via online banking (linking your external account), use a wire transfer (fees may apply), or withdraw cash/request a cashier's check at a Truist branch.
How to update my direct deposit information for my new bank?
Contact your employer's HR or payroll department and provide them with the routing and account numbers of your new bank. For government benefits, update through the relevant agency's online portal or phone line.
QuickTip: The more attention, the more retention.
How to ensure all automatic payments are transferred to my new account?
Review your past bank statements to identify all recurring debits, then contact each service provider individually to update your payment method with your new bank account details.
How to get written confirmation of my Truist account closure?
When closing your account in person or by phone, explicitly request a written confirmation letter or email from the Truist representative.
How to find my Truist account number and routing number?
Your account number and routing number can be found on your checks, in your online banking portal under account details, or by contacting Truist customer service.
How to close a joint Truist checking account?
For joint accounts, it's often required that all account holders are present or provide explicit authorization (sometimes in writing) to close the account. Confirm specific requirements with Truist.
How to avoid early closure fees for a Truist checking account?
Check Truist's personal deposit account fee schedule. Often, accounts must be open for a certain period (e.g., 90 to 180 days) to avoid an early closure fee. If you're close to that timeframe, consider waiting.
How to handle outstanding checks when closing a Truist account?
Ensure all checks you've written have cleared your account before initiating closure. If there are pending checks, wait for them to process, or arrange an alternative payment method with the recipient.
How to dispose of my Truist debit card and unused checks safely?
Once your account is confirmed closed, shred or cut up your Truist debit card and any unused checks to prevent unauthorized use and identity theft.
 |
