Have you ever found yourself needing to send money from your Truist account to another bank account, whether it's for paying a bill, sending money to a family member, or making a business payment? If so, you've likely encountered the term "ACH transfer." But what exactly is an ACH transfer, and how do you actually do one with Truist?
This comprehensive guide will walk you through the entire process of performing an ACH transfer with Truist Bank, ensuring you understand each step and can confidently manage your electronic payments.
Understanding ACH Transfers: A Quick Overview
Before we dive into the "how-to," let's quickly clarify what an ACH transfer is. ACH stands for Automated Clearing House, which is an electronic network for financial transactions in the United States. Unlike wire transfers, which are generally processed individually and are more expensive, ACH transfers are processed in batches, making them a cost-effective and efficient way to move money between different bank accounts.
Think of it like this: wire transfers are like sending an urgent, direct message, while ACH transfers are more like sending a carefully sorted batch of mail. They're both reliable, but serve different purposes and have different processing times.
Now, let's get down to the business of making those transfers!
Step 1: Log In to Your Truist Online Banking Account (or Mobile App)
Alright, let's get started! The very first thing you need to do is access your Truist account. This can be done through their online banking portal on a computer or via the Truist mobile app on your smartphone or tablet.
Sub-heading: Choosing Your Access Method
- Online Banking (Computer): Open your preferred web browser and navigate to the official Truist Bank website. Look for the "Sign In" or "Log In" button, usually located in the top right corner of the page.
- Mobile App (Smartphone/Tablet): If you haven't already, download the Truist Mobile App from your device's app store (Google Play Store for Android or Apple App Store for iOS). Once downloaded, open the app.
Sub-heading: Entering Your Credentials
Once you're on the login screen, you'll need to enter your User ID and Password. Make sure you have these readily available. If you've forgotten them, look for options like "Forgot User ID" or "Forgot Password" on the login page to reset them. Security is paramount, so never share your login details with anyone.
Step 2: Navigate to the "Transfers" or "Payments" Section
Once you've successfully logged in, you'll be greeted by your account dashboard. Now, we need to find the section dedicated to moving money.
Sub-heading: Locating the Right Menu Option
- Online Banking: Look for a prominent menu option like "Transfer & Pay," "Payments," or "Move Money." This is usually found in the main navigation menu or sidebar.
- Mobile App: Similarly, within the mobile app, you'll typically find an icon or menu option labeled "Transfer & Pay" or something similar. It might be in the bottom navigation bar or accessible through a "hamburger" menu (three horizontal lines).
Click or tap on this option to proceed.
Step 3: Adding an External Account (If Not Already Added)
To send an ACH transfer to an account outside of Truist, you'll first need to link that external account. This is a one-time setup process for each new external account you wish to transfer to.
Sub-heading: Identifying the "Add External Account" Option
On the "Transfer & Pay" or "Payments" page, you should see an option to "Add non-Truist account" or "Manage external accounts." Select this.
Sub-heading: Providing External Account Details
You'll be prompted to enter specific information for the external bank account. Accuracy here is crucial to avoid delays or failed transfers. You'll typically need:
- Account Type: Is it a checking or savings account?
- Routing Number: This is a nine-digit code that identifies the financial institution. You can usually find this on a check, your bank's website, or by contacting the other bank. For Truist's main routing number, it's often 061000104, but verify for your specific account if transferring into Truist. When sending from Truist to another bank, you'll need the recipient bank's routing number.
- Account Number: The specific account number of the recipient.
- Account Holder Name: The full name of the person or business who owns the external account.
Sub-heading: Verification Process
For security purposes, Truist will often require a verification process for new external accounts. This usually involves small "trial deposits" (micro-deposits) to the external account within 1-3 business days. You'll then need to verify the amounts of these deposits back in your Truist online banking or mobile app. Do not attempt to transfer funds until this verification is complete.
Step 4: Initiating the ACH Transfer
Once your external account is linked and verified, you're ready to initiate the transfer.
Sub-heading: Selecting Your Transfer Options
Go back to the "Transfer & Pay" section. You'll likely see options for "Transfer between my accounts" and "Transfer to an external account" (or similar). Choose the option that allows you to send money to an external, non-Truist account.
Sub-heading: Entering Transfer Details
You'll need to provide the following information for your ACH transfer:
- From Account: Select your Truist account from which you want to send the money.
- To Account: Select the external account you previously linked.
- Amount: Enter the exact amount you wish to transfer.
- Frequency: Choose "One-time" for a single transfer, or "Recurring" if you want to set up regular payments (e.g., monthly rent, loan payments).
- Date: Select the effective date for the transfer. For recurring transfers, you'll set a start date and frequency.
- Memo (Optional): Add a note for your records or for the recipient.
Sub-heading: Reviewing and Confirming Your Transfer
This is a critical step! Before submitting, carefully review all the details you've entered: the "from" account, the "to" account, the amount, and the date. A small error here could lead to delays or the transfer going to the wrong place. Once you're certain everything is correct, click or tap "Confirm" or "Submit."
Sub-heading: Authorization
Truist may require you to authorize the transfer using a security measure, such as a security code sent to your registered phone number or by answering a security question. Follow the prompts to complete this authorization.
Step 5: Monitoring Your ACH Transfer
After submitting your transfer, it's important to understand the processing times and how to track its status.
Sub-heading: Understanding Processing Times
ACH transfers typically take 1-3 business days to process. This is because they are batched and processed at specific times by the ACH network.
- Same-day ACH transfers are possible but often have cut-off times (e.g., before 1 PM ET) and may incur a slightly higher fee.
- If you initiate a transfer on a weekend or holiday, it will usually be processed on the next business day.
Sub-heading: Checking Transfer Status
You can usually view the status of your pending and completed transfers within the "Transfer & Pay" or "Activity" section of your Truist online banking or mobile app. Look for a "Transfer History" or "Pending Transfers" option.
Important Considerations for Truist ACH Transfers
- Fees: While ACH transfers are generally low-cost, Truist may have specific fees, especially for business accounts or for same-day transfers. For business checking, Truist might charge around $15 monthly for a set number of payments, with an additional $1 per transaction after that limit. Always check Truist's fee schedule or contact customer service for the most up-to-date information.
- Limits: Truist, like most banks, may have daily or per-transaction limits for ACH transfers. These limits can vary based on your account type and your relationship with the bank. If you need to send a very large amount, you might need to consider a wire transfer or contact Truist to discuss increasing your ACH limit.
- Cut-off Times: Be aware of Truist's daily cut-off times for ACH transfers. If you submit a transfer after the cut-off, it will be processed on the next business day.
- Fraud Prevention: Truist emphasizes security. Be vigilant against phishing attempts and ensure you are always logging into the official Truist website or app. If something seems suspicious, do not proceed with the transfer and contact Truist customer service directly.
10 Related FAQ Questions:
How to Find Your Truist Routing Number?
You can find your Truist routing number on your checks (bottom left corner), within your online banking account details, on your bank statement, or by contacting Truist customer service. The most common Truist routing number for ACH is 061000104.
How to Add an External Account to Truist?
Log in to Truist online banking or the mobile app, navigate to "Transfer & Pay," then "Manage external accounts," and select "Add non-Truist account." You'll need the external account's routing number, account number, and account holder's name.
How to Initiate a Recurring ACH Transfer with Truist?
When setting up your transfer in the "Transfer & Pay" section, choose the "Recurring" frequency option instead of "One-time," then specify the start date and the desired frequency (e.g., weekly, bi-weekly, monthly).
How to Check the Status of a Truist ACH Transfer?
After initiating a transfer, go to the "Transfer & Pay" or "Activity" section in your Truist online banking or mobile app and look for your "Transfer History" or "Pending Transfers."
How to Cancel a Pending ACH Transfer with Truist?
If the transfer is still pending and has not yet been processed, you might be able to cancel it through your online banking or mobile app. Look for an option to "View/Manage Pending Transfers." If it's already processed, you'll need to contact Truist customer service immediately.
How to Resolve a Failed ACH Transfer with Truist?
Failed ACH transfers often occur due to incorrect account information (routing or account number), insufficient funds, or the recipient's account being closed. Check the reason for the failure (often indicated by a "return code") and then correct the issue before attempting to resubmit the transfer or contacting Truist customer service for assistance.
How to Contact Truist Customer Service for ACH Help?
You can contact Truist customer service by calling 844-4TRUIST (844-487-8478). For specific wire/ACH fraud, you can call their Treasury Solutions Client Support team at 800-774-8179.
How to Increase My Truist ACH Transfer Limit?
ACH transfer limits are typically set by the bank. If you need a higher limit, you will likely need to contact Truist customer service or your branch representative to discuss your specific needs and see if an increase is possible.
How to Determine Truist ACH Transfer Fees?
Truist's fees for ACH transfers can vary, especially for business accounts or for same-day ACH. It's best to consult your specific account's fee schedule, which is usually available on the Truist website or by contacting customer service.
How to Know if My External Account is Verified by Truist?
After adding an external account, Truist typically sends small trial deposits (micro-deposits) to that account. You'll need to verify these amounts within your Truist online banking or mobile app. Once you've successfully verified these amounts, the external account will be fully linked and ready for transfers.
