It's a fantastic decision to open a savings account! Whether you're saving for a rainy day, a down payment, or that dream vacation, having a dedicated savings account is a smart financial move. And doing it conveniently through an app like Truist's can make the process even smoother.
Ready to embark on your savings journey with the Truist app? Let's dive in!
A Note Before We Begin:
While this guide provides comprehensive steps, remember that banking regulations and app interfaces can sometimes have minor updates. Always refer to the latest information directly on the Truist app or their official website if you encounter any discrepancies.
Step 1: Get Ready to Save - Download and Prepare!
First things first, do you have the Truist Mobile Banking App installed on your smartphone or tablet? If not, that's our starting point!
Sub-heading: Downloading the Truist App
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For Apple iOS Devices (iPhone, iPad):
- Open the App Store on your device.
- Tap the "Search" icon (magnifying glass) at the bottom right.
- Type "Truist" into the search bar and tap "Search."
- Locate the "Truist Mobile Banking" app (it usually has the distinctive Truist logo).
- Tap "Get" or the cloud icon with a downward arrow. You might need to authenticate with Face ID, Touch ID, or your Apple ID password.
- Wait for the app to download and install.
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For Android Devices:
- Open the Google Play Store on your device.
- Tap the "Search" bar at the top.
- Type "Truist" and tap the search icon.
- Find the "Truist Mobile Banking" app.
- Tap ***"Install"***.
- Wait for the app to download and install.
Once installed, locate the Truist app icon on your home screen or in your app drawer. Don't open it just yet! We have a few more preparations.
Sub-heading: Gathering Your Essentials
To ensure a smooth and quick application process, have the following information and documents ready:
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Personal Information:
- Your full legal name
- Date of birth
- Social Security Number (SSN)
- Current residential address (and previous if you've moved recently)
- Phone number
- Email address
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Identification:
- A valid, government-issued photo ID. This could be your:
- Driver's License
- State ID Card
- Passport
- You might need to take a picture of this during the application, so ensure it's easily accessible and well-lit.
- A valid, government-issued photo ID. This could be your:
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Initial Deposit Funds:
- Truist savings accounts, like the Truist One Savings, typically require a minimum opening deposit, often as low as $50. Be prepared to fund this during the application. You can usually do this by linking an existing bank account (checking or savings) or using a debit card.
Step 2: Launching the App and Starting Your Application
Now that you're prepared, it's time to open the Truist app and begin the account opening process.
- Open the Truist App: Tap the Truist app icon on your device.
- Look for "Open an Account" or "Apply Now": On the initial screen, you'll likely see options like "Sign In," "Enroll in Online Banking," or a more prominent "Open an Account" or "Apply Now" button. Since you're a new customer opening a new account, you'll want to select the option to open a new account.
- If you already have a Truist checking account and are looking to add a savings account, you might be able to do this by signing in and navigating to the "Open New Account" section within your existing profile. For this guide, we'll assume you're starting fresh.
- Choose "Savings Account": The app will present different account types (checking, savings, credit cards, loans, etc.). Select "Savings" to proceed with opening a savings account.
- Select Your Desired Savings Account: Truist offers various savings options, such as:
- Truist One Savings: A popular choice with a lower minimum opening deposit and ways to waive monthly maintenance fees.
- Truist One Money Market: Offers higher interest rates, but often comes with a higher minimum balance requirement to avoid fees.
- Truist Confidence Savings: May have different features and requirements.
- Review the details of each to see which best fits your financial goals. Pay attention to minimum opening deposits, monthly maintenance fees (and how to waive them), and interest rates. Tap on the one you wish to open.
Step 3: Providing Your Personal Information
This is where you'll input the details you gathered in Step 1. Be accurate and thorough.
Sub-heading: Identity Verification
- Enter Your Basic Information: You'll be prompted to enter your full name, date of birth, Social Security Number, phone number, and email address.
- Residential Address: Provide your current residential address. If you've moved recently, you might also need to provide your previous address.
- Confirm Identity with ID: The app will guide you through verifying your identity. This usually involves:
- Taking a photo of your government-issued ID: Follow the on-screen instructions carefully. Ensure good lighting and that all information is legible.
- Taking a selfie: Some apps require a selfie to match your face to your ID. This is a security measure.
Sub-heading: Additional Details
- Employment Information: You may be asked about your employment status (employed, student, retired, etc.) and your employer's name and address.
- Financial Information: You might be asked about your estimated annual income. This helps the bank understand your financial profile.
- Review and Consent: Carefully review all the information you've entered. You'll then need to read and agree to various disclosures, terms, and conditions, including the Bank Services Agreement and privacy policy. Take your time here; these are important documents.
Step 4: Funding Your New Savings Account
This is the exciting part – putting money into your new savings account!
- Choose Your Funding Method: Truist will offer options to make your initial deposit. Common methods include:
- Linking an External Account: This is often the easiest. You'll need the routing number and account number of an existing checking or savings account from another bank. Truist may use a micro-deposit verification process (depositing small amounts into your external account, which you then verify in the Truist app) to confirm ownership.
- Using a Debit Card: You can often use a debit card from another bank to make an instant initial deposit.
- Mobile Check Deposit: If you have a check, you might be able to deposit it using the app's mobile check deposit feature.
- Enter Deposit Amount: Input the amount you wish to deposit. Remember the minimum opening deposit requirement for the specific savings account you chose.
- Confirm Deposit: Review the deposit details and confirm the transaction.
Step 5: Final Review and Confirmation
You're almost there! This step is about ensuring everything is in order before finalizing your application.
- Comprehensive Review: The app will present a summary of your application, including your personal details, the savings account type, and your initial deposit amount. Double-check every piece of information for accuracy.
- Electronic Signatures (E-Sign): You'll typically be asked to electronically sign the application and any associated agreements. This is usually done by typing your name or checking a box.
- Submit Application: Once you've reviewed everything and provided your electronic signature, tap the "Submit" or "Confirm" button to send your application to Truist.
Sub-heading: What Happens Next?
- Confirmation: You should receive an immediate confirmation within the app, and often via email, that your application has been submitted. This confirmation may include a reference number.
- Account Activation: In many cases, if your application is approved instantly, your new savings account will be active very quickly. You might receive your account number immediately, or it may be sent to you shortly after.
- Welcome Kit: Truist will likely send you a digital welcome kit or an email with important account details, disclosures, and information on how to manage your new account. Keep this for your records!
Congratulations! You've successfully opened a savings account using the Truist app. Now you can begin to watch your savings grow. Don't forget to explore the app's features for managing your new account, such as setting up automatic transfers, viewing transactions, and setting savings goals.
Frequently Asked Questions (FAQs)
How to Check My Truist Savings Account Balance?
You can easily check your Truist savings account balance by signing in to the Truist Mobile Banking App. The balance will typically be displayed on your account summary screen.
How to Transfer Money to My Truist Savings Account?
You can transfer money to your Truist savings account within the Truist app by navigating to the "Transfers" or "Move Money" section. You can set up one-time or recurring transfers from linked Truist accounts or external bank accounts.
How to Find My Truist Savings Account Number and Routing Number?
Your account number and Truist's routing number can usually be found within the Truist app by tapping on your savings account and looking for "Account Details" or "Statements." They are also typically listed on your account statements.
How to Set Up Automatic Transfers to My Truist Savings Account?
Within the Truist app, go to the "Transfers" or "Move Money" section. You'll find an option to set up "Recurring Transfers." Select your checking account as the source and your savings account as the destination, then specify the amount and frequency.
How to Avoid Monthly Fees on My Truist Savings Account?
Truist offers various ways to waive monthly maintenance fees for their savings accounts. For example, with Truist One Savings, you can often waive the fee by maintaining a minimum daily balance, having a linked Truist personal checking account, or setting up recurring transfers into the savings account. Check the specific account's terms for details.
How to Close My Truist Savings Account?
To close a Truist savings account, it's generally recommended to contact Truist customer service directly via phone or visit a local Truist branch. You might not be able to close it through the app.
How to Access My Truist Savings Account Statements?
You can access your Truist savings account statements digitally within the Truist Mobile Banking App or by signing into your online banking portal on the Truist website. Look for a section titled "Statements" or "Documents."
How to Link an External Account to My Truist Savings Account?
Within the Truist app, go to the "Transfers" or "Move Money" section. There should be an option to "Add External Account" or "Link Account." You'll typically need the routing number and account number of the external bank account.
How to Deposit a Check into My Truist Savings Account Using the App?
The Truist app has a "Mobile Deposit" feature. Select this option, endorse the back of your check with "For Mobile Deposit Only Truist," and then follow the on-screen instructions to take photos of the front and back of the check.
How to Contact Truist Customer Service for Savings Account Questions?
You can contact Truist customer service for personal savings account inquiries by calling 844-4TRUIST (844-487-8478). You can also find their contact information and options for scheduling appointments on the Truist website.
