Truist checking accounts have no opening deposit requirement

You can open a Truist checking account with zero dollars. Truist does not require a minimum deposit to start the account, and you do not need to fund it when ready. You can open the account online, by phone, or in a branch, and begin using it once it is active.

The account itself is free to open. However, Truist does charge a monthly maintenance fee on most checking accounts unless you meet certain conditions to waive it. Understanding what those conditions are matters more than the opening deposit, because that fee recurs every month you hold the account.

Key Takeaways

  • Truist checking accounts require no minimum opening deposit, but most accounts carry a $12 monthly maintenance fee.
  • The monthly fee is waived if you maintain a $500 minimum daily balance or set up direct deposit of at least $500 per month.
  • Truist offers a student checking account with no monthly fee for customers under 25, with no balance or direct deposit requirement.
  • You can open an account online in minutes, but funding it and receiving your debit card takes a few business days.

Monthly fees and how to avoid them

The standard Truist checking account charges $12 per month. This fee appears on your statement every month unless you meet one of two conditions: maintain a $500 minimum daily balance in the account, or set up direct deposit of at least $500 in a single month.

The balance requirement means the account must hold at least $500 every single day of the month. If your balance dips below $500 on even one day, the fee applies that month. The direct deposit route is often easier for people who receive paychecks or regular transfers—once you set it up once, it continues to waive the fee each month as long as the deposits keep coming.

If you do not meet either condition, you pay $12 monthly. Over a year, that is $144. Some people accept this as the cost of having a Truist account; others switch to a bank with no monthly fee to avoid it.

Student checking accounts with no monthly fee

Truist offers a student checking account for customers under 25 years old. This account has no monthly maintenance fee, no minimum balance requirement, and no direct deposit requirement. You straightforward need to be under 25 and have a valid student ID or proof of enrollment.

The student account includes the same core features as the standard account—debit card, online banking, mobile app, ATM access—but without the monthly cost. Once you turn 25, Truist will convert the account to a standard checking account, at which point the $12 monthly fee applies unless you meet the balance or direct deposit condition.

What happens after you open the account

Opening the account online takes about 10 minutes. You provide your name, address, Social Security number, and initial funding information. Truist will verify your identity and either approve or decline the account on the spot.

Once approved, your account is active when ready for online and mobile banking. However, your physical debit card takes 7 to 10 business days to arrive by mail. If you need to withdraw cash or make in-person purchases before the card arrives, you can visit a Truist branch and request a temporary card or make a withdrawal at the teller window.

If you fund the account with a transfer from another bank, that transfer typically takes 1 to 3 business days to appear in your Truist account, depending on the sending bank. If you fund it with a check deposit through the mobile app, the funds usually post within 2 business days.

Funding options when you open

You do not have to fund the account when you open it, but most people do. Truist accepts several funding methods: transfer from another bank account, check deposit through the mobile app, cash deposit at a branch, or wire transfer.

Bank transfers are free and take 1 to 3 business days. Mobile check deposits are free and take about 2 business days. Cash deposits at a branch are when ready if you go in person. Wire transfers are usually free for incoming wires but may carry a fee depending on the sending bank.

Comparing Truist to other banks with no opening deposit

Many banks have eliminated opening deposit requirements. The real difference between banks is the monthly fee and how straightforward it is to waive. Truist's $12 fee is moderate—some banks charge $15 or more—but the $500 balance or direct deposit threshold is higher than some competitors.

Banks like Ally, Charles Schwab, and some credit unions offer checking accounts with no monthly fee and no balance requirement at all. If you cannot reliably maintain $500 or set up direct deposit, those accounts may cost you less over time. If you already bank with Truist or have a branch nearby, the convenience may outweigh the fee.

What you need to bring or provide

To open a Truist checking account, you need a valid government-issued ID (driver's license, passport, or state ID), your Social Security number, and a current address. If you are opening online, you can provide all of this digitally. If you are opening in a branch, bring the physical ID.

You do not need an initial deposit, but you will need to decide how you want to fund the account, if at all. If you are funding it with a transfer from another bank, have that bank's routing number and your account number ready. If you are depositing a check through the app, have the check in hand.

Frequently Asked Questions

Can I open a Truist checking account with $0?

Yes. Truist has no minimum opening deposit. You can open the account and leave it unfunded, though you will pay the $12 monthly fee unless you later meet the balance or direct deposit condition.

What if I cannot maintain a $500 balance?

You will pay $12 per month. Your other option is to set up direct deposit of at least $500 in a single month, which waives the fee going forward. If neither is possible, a bank with no monthly fee may be a better fit.

How long does it take to use the account after I open it?

Your account is active for online and mobile banking when ready after approval. Your physical debit card arrives in 7 to 10 business days. Transfers from other banks take 1 to 3 business days to post.

Is there a fee to open the account?

No. Opening is free. The only cost is the monthly maintenance fee of $12, unless you waive it by maintaining a $500 balance or setting up direct deposit.

Do I have to open in a branch, or can I do it online?

You can open online, by phone, or in a branch. Online is fastest—about 10 minutes—and you can fund the account when ready if you have another bank account to transfer from.