Are you ready to potentially boost your bank balance by $400? Truist Bank often offers enticing bonuses for new customers, and with the right strategy, you could be well on your way to claiming a significant cash reward. This guide will walk you through the typical steps and requirements to earn a $400 bonus from Truist. Let's dive in!
How to Get $400 from Truist: Your Step-by-Step Guide
Securing a bank bonus like Truist's $400 offer requires careful attention to detail and adherence to specific terms. Here's how you can typically go about it:
Step 1: Are You Eligible? Let's Find Out!
Before you get too excited, the very first thing you need to do is confirm your eligibility. Bank bonuses are usually reserved for new customers and often have geographical restrictions.
- New Customer Status: Truist generally offers these bonuses to individuals who haven't held a personal checking account with them within a certain timeframe (e.g., the last 12-24 months). If you've had an account recently, you might not qualify.
- Residency Requirements: Promotions often target specific states or regions. Make sure your mailing address falls within Truist's service area for the particular offer. As of recent promotions, states like Alabama, Arkansas, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, North Carolina, New Jersey, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, and the District of Columbia
are commonly included. - Age and Taxpayer ID: You must be at least 18 years old and a U.S. resident with a taxpayer identification number (SSN).
- Current Employee/Affiliation: If you're currently employed by or affiliated with Truist Bank, you are generally not eligible for these bonuses.
Action: Take a moment to visit the official Truist website or a local branch and review the current promotion's terms and conditions. Don't skip this critical first step!
Step 2: Choose the Right Account (It's Often the Truist One Checking)
The $400 bonus is almost always tied to opening a specific type of checking account. In most recent promotions, this is the Truist One Checking account.
- Truist One Checking: This account is frequently the centerpiece of their new customer offers. It often comes with various perks and ways to waive monthly maintenance fees.
- Business Checking Options: Sometimes, Truist also offers similar bonuses for new business checking accounts (e.g., Simple Business Checking or Dynamic Business Checking). If you're a business owner, check if these align better with your needs and also offer a $400 bonus. Be sure to distinguish between personal and business offers.
Action: Once you've confirmed your eligibility, identify the specific checking account linked to the $400 bonus offer.
Step 3: Open Your New Account – Online or In-Branch
You have a couple of options for opening your new Truist One Checking account.
Sub-heading: Online Account Opening
Opening an account online is often the most convenient method.
- Navigate to the Offer Page: Crucially, make sure you open the account through the specific promotional link on the Truist website. This ensures the correct promo code (if applicable) is automatically applied to your application.
- Complete the Application: You'll need to provide personal information such as your name, address, Social Security Number, and
contact details. - Initial Deposit: Be prepared to make a minimum opening deposit. For the Truist One Checking account, this is typically $50.
Sub-heading: In-Branch Account Opening
If you prefer a face-to-face interaction or have questions, visiting a Truist branch is an option.
- Bring the Promo Code: If you've seen a specific promo code online, bring it with you to ensure the bonus is applied to your in-person application.
- Required Documents: Be ready to provide identification (e.g., driver's license, passport) and your Social Security Number.
- Minimum Deposit: Have your initial deposit ready.
Action: Choose your preferred method of opening the account and proceed carefully, ensuring the bonus offer is associated with your application.
Step 4: Meet the Direct Deposit Requirements – This is Key!
This is usually the most significant hurdle to overcome for bank bonuses. For the $400 Truist One Checking bonus, the common requirement is to:
- Receive at least two qualifying direct deposits totaling $1,000 or more within the first 120 days of account opening.
Sub-heading: What Counts as a Qualifying Direct Deposit?
- Payroll Checks: This is the most common and reliable way to meet the requirement. Your salary from your employer deposited directly into your Truist account.
- Government Benefit Payments: Social Security, pension payments, and other government disbursements typically qualify.
- What usually DOES NOT count: Transfers from other bank accounts (even if they are yours), Zelle transfers, peer-to-peer (P2P) payments, mobile deposits, or ATM deposits. The direct deposit must be an electronic deposit of your paycheck or government benefits.
Sub-heading: Tracking Your Progress
- Set Reminders: Mark your calendar for the 120-day deadline from your account opening date.
- Monitor Your Account: Regularly check your Truist account statements or online banking portal to verify that your direct deposits are being correctly attributed and that you are approaching the $1,000 total.
- Adjust if Necessary: If your initial direct deposit isn't large enough to reach $1,000 with just two deposits, consider increasing the amount or making more frequent direct deposits if your employer allows.
Action: Work with your employer's HR or payroll department, or the relevant government agency, to set up direct deposits to your new Truist One Checking account. Confirm that the total amount meets or exceeds $1,000 and that you make at least two qualifying deposits within the specified timeframe.
Step 5: Maintain Your Account in Good Standing
After meeting the direct deposit requirements, it's crucial to keep your account active and in good standing.
- Keep it Open: You must keep the account open until the bonus is paid out. Closing it prematurely will likely forfeit your bonus.
- Maintain a Positive Balance: Ensure your account balance doesn't drop to zero or go negative. A minimum of one cent is usually required to remain eligible.
- Avoid Excessive Fees: While the Truist One Checking account often has ways to waive monthly maintenance fees (e.g., by maintaining a certain balance, making regular direct deposits of $500 or more, or having other Truist relationships like a credit card or loan), be aware of any potential fees that could impact your account's standing.
Action: Continuously monitor your account balance and activity. Ensure you meet the criteria to waive any monthly maintenance fees if you plan to keep the account long-term.
Step 6: Receive Your $400 Bonus!
If you've followed all the steps and met all the requirements, Truist will deposit the $400 bonus directly into your new checking account.
- Timing: The bonus typically posts within a few weeks (e.g., 4 weeks) after all qualifications have been met.
- Confirmation: You should see the $400 appear as a credit in your account statement or online transaction history.
Action: Keep an eye on your account in the weeks following the fulfillment of the direct deposit requirements.
Step 7: Decide Your Next Steps
Once you've received your $400 bonus, you have a few options:
- Keep the Account: If you find the Truist One Checking account meets your banking needs and you can easily waive the monthly fees, you might choose to keep it as your primary or secondary checking account.
- Close the Account (Carefully): If you no longer need the account, you can close it. However, be mindful of any terms that might require you to keep the account open for a minimum period after receiving the bonus (though this is less common for after bonus payment, it's always good to double-check). Ensure all direct deposits are redirected to another account before closing.
Action: Evaluate whether the Truist One Checking account aligns with your long-term banking needs.
Important Considerations and Pro Tips:
- Read the Fine Print: Seriously, this cannot be stressed enough. Bank promotions change, and terms can vary. Always refer to the official terms and conditions provided by Truist for the specific offer you are pursuing.
- Promotion Expiry Dates: Pay close attention to the expiration date of the promotion. You must open the account and meet the requirements before this date.
- Taxable Income: Bank bonuses are generally considered taxable income by the IRS. Truist will likely send you a Form 1099-INT at the end of the year for the bonus amount.
- One Bonus Per Customer: These offers are typically limited to one bonus per customer, per household, or per account type. Don't expect to open multiple accounts and get multiple bonuses.
- Document Everything: Keep screenshots of the offer page, confirmation emails, and records of your direct deposits. This can be helpful if there's any dispute regarding your eligibility or bonus payout.
- Customer Service: If you encounter any issues or have questions, don't hesitate to contact Truist customer service directly.
Frequently Asked Questions (FAQs)
How to check my eligibility for the Truist $400 bonus?
You can check your eligibility by reviewing the specific terms and conditions on the official Truist website's promotions page or by visiting a Truist branch and speaking with a representative. Key factors include being a new personal checking customer within a defined period and residing in an eligible state.
How to ensure my direct deposits qualify for the Truist bonus?
To ensure your direct deposits qualify, they must typically be electronic deposits of your payroll from an employer or government benefits (e.g., Social Security). Transfers from other bank accounts, P2P payments (like Zelle), or mobile/ATM deposits usually do not count. Confirm with your payroll provider that your deposits are classified as "direct deposits."
How to find the promotional code for the Truist $400 offer?
When opening an account online, the promotional code is often automatically applied if you click through a direct offer link on the Truist website. If you open in-branch, you might need to mention a specific code or offer, so it's best to print or screenshot the offer details.
How to avoid monthly maintenance fees on a Truist One Checking account?
Monthly maintenance fees for the Truist One Checking account can often be waived by: receiving $500 or more in total qualifying direct deposits per statement cycle, maintaining a total combined ledger balance of $500 or more across eligible Truist accounts, having a personal Truist credit card, mortgage, or consumer loan, having a linked small business checking account, or being a student/under a certain age.
How to track my progress towards earning the Truist bonus?
You can track your progress by regularly reviewing your Truist online banking statements or transaction history. Look for the direct deposit amounts and dates to ensure they meet the minimum total ($1,000) and quantity (at least two) within the 120-day timeframe.
How to contact Truist customer service about my bonus?
You can contact Truist customer service by calling the number listed on their official website, using their online chat feature, or visiting a local branch. Have your account details ready when you reach out.
How to know when the $400 bonus will be deposited?
Once you meet all the requirements, the $400 bonus is typically deposited into your Truist One Checking account within four weeks. Keep an eye on your account statement or online transaction history for the credit.
How to close my Truist account after receiving the bonus?
If you wish to close your account after receiving the bonus, ensure all your direct deposits are redirected to a new account elsewhere. Then, contact Truist customer service or visit a branch to initiate the account closure. Double-check if there's any minimum time you must keep the account open after receiving the bonus (though this is rare).
How to report the Truist bank bonus on my taxes?
Bank bonuses are considered taxable income. Truist will usually issue a Form 1099-INT at the end of the year for the bonus amount. You should include this amount as interest income when filing your income tax return. If you have questions, consult a tax professional.
How to find current Truist bank promotions?
The best way to find current Truist bank promotions, including any $400 bonus offers, is to visit the "Offers" or "Promotions" section of the official Truist Bank website. You can also inquire at a local Truist branch. Promotions are updated periodically, so checking regularly is advisable.
