What makes a bank "good" depends on what you actually do with it
There is no single answer to whether Truist is a good bank, because different people need different things from a bank. Truist is a large regional bank with branches across the Southeast and Mid-Atlantic, plus online banking available everywhere. Whether it works for you depends on whether its fees, interest rates, branch locations, and customer service match what you actually use a bank for.
This guide walks through what Truist offers, what it costs, and what kinds of banking situations it handles well or poorly. You can then compare those specifics to your own situation.
Key Takeaways
- Truist charges monthly fees on most checking accounts unless you meet balance or deposit requirements, which can add up if you carry a low balance.
- The bank offers a wide branch network in the Southeast and Mid-Atlantic, plus online and mobile banking, so convenience depends on whether you live or work in those regions.
- Interest rates on savings accounts are typically lower than online-only banks, so Truist works better for people who value branch access over high savings rates.
- Truist's customer service is available by phone, chat, and in-branch, but experiences vary — some customers report long wait times during peak hours.
- If you are new to banking or returning after a gap, Truist offers basic accounts, but you should compare their fees to credit unions or online banks in your area first.
Checking and savings accounts: what they cost and what you get
Truist's main checking account is called Truist One Checking. It charges a monthly fee (the amount varies by region and account type), but you can avoid the fee by maintaining a minimum daily balance, setting up direct deposit, or meeting other requirements. The exact threshold depends on your local Truist branch, so you need to ask or check the account agreement before opening.
The savings account is Truist One Savings. It also charges a monthly fee that you can waive by keeping a minimum balance. The interest rate — the amount the bank pays you for letting them hold your money — is typically lower than what online-only banks offer. If building savings is your main goal and you do not need a physical branch, an online bank usually pays more interest with no monthly fee.
Truist also offers money market accounts and certificates of deposit (CDs), which are accounts where you agree to leave money untouched for a set time in exchange for a higher interest rate. These can make sense if you have money you will not need for several months or years, but again, online banks often pay more.
Branch access and online banking
Truist has roughly 2,700 branches across the Southeast, Mid-Atlantic, and parts of the Midwest. If you live or work in one of those regions and you use branches regularly — to deposit cash, get a cashier's check, or talk to someone in person — that network is a real advantage. If you live outside those areas, you have no local branch and will rely entirely on online and mobile banking.
Truist's online and mobile apps let you check balances, transfer money, pay bills, and deposit checks by taking a photo. These tools work the same way as most other banks' apps. The bank also offers 24/7 customer service by phone and chat, so you can reach someone outside business hours if something goes wrong.
Fees you should know about
Beyond the monthly account fee, Truist charges for several common banking actions. Overdraft fees (charged when you spend more than you have) are typical across banks, but the amount varies. ATM fees explore if you use an ATM outside the Truist network, though Truist is part of a shared network that lets you use some other banks' ATMs for free.
Wire transfer fees, foreign transaction fees, and fees for stopping a check payment are all standard at Truist and most other banks. The key is to understand which fees explore to how you actually bank. If you never overdraft and you use only Truist ATMs, those fees will not affect you. If you travel internationally or regularly use out-of-network ATMs, those fees add up.
How Truist compares to credit unions and online banks
Credit unions are member-owned financial institutions that often charge lower fees and pay higher interest rates than large banks, but they have smaller branch networks and may have membership requirements. If there is a credit union in your area that you can join, it is worth comparing their checking and savings accounts to Truist's.
Online banks have no physical branches but typically charge no monthly fees and pay higher interest on savings. They work well if you do not need to deposit cash or talk to someone in person. Truist makes sense if you value having a branch you can walk into, even if it costs more.
A hybrid approach — keeping your main account at Truist for branch access and opening a high-interest savings account at an online bank — is also common and lets you get the benefits of both.
What Truist does well and where it falls short
Truist works well for people who live in the Southeast or Mid-Atlantic, use branches regularly, and do not mind paying monthly fees in exchange for in-person service and convenience. It also works for people who want a single bank for all their banking needs and do not want to juggle multiple accounts.
Truist is less ideal if you carry a low balance and want to avoid monthly fees, if you live outside its branch footprint, or if you prioritize earning the highest possible interest on savings. It is also not the best choice if you are new to banking and want to learn with low-cost or no-cost accounts — a local credit union or online bank often offers better terms for beginners.
Questions to ask before opening an account
Before you decide, visit a Truist branch or call their customer service line and ask these specific questions: What is the exact monthly fee for the checking account you are interested in? What are the ways to waive that fee? What is the current interest rate on savings? What is the overdraft fee? Are there any branches near your home or workplace?
Write down the answers and compare them to at least one credit union and one online bank in your area. The difference in fees and interest rates over a year can be significant, especially if you are starting out with a small balance.
Frequently Asked Questions
Does Truist have accounts with no monthly fee?
Truist offers accounts where you can waive the monthly fee by meeting certain requirements — usually a minimum balance, direct deposit, or a combination of both. The exact requirements vary by location and account type. You need to ask your local branch or read the account agreement to know the specific threshold for your account.
Can I use Truist if I do not live near a branch?
Yes. Truist offers full online and mobile banking, and you can reach customer service by phone or chat 24/7. You will not be able to deposit cash in person or visit a branch, but you can handle most banking tasks online. If you need to deposit cash regularly, this may not be the right fit.
How does Truist's interest rate compare to other banks?
Truist's interest rates on savings accounts are typically lower than online-only banks, which have fewer physical costs and can pass savings to customers. If earning the highest interest is your priority, compare Truist's current rate to online banks before opening an account.
What happens if I overdraft my account?
Truist charges an overdraft fee if you spend more money than you have in your account. The fee amount varies. You can often set up overdraft protection, which links your checking account to a savings account or credit line so transfers happen automatically if you overdraft, though this may come with its own fees.
Is Truist safe for my money?
Truist is a large, established bank insured by the Federal Deposit Insurance Corporation (FDIC), which means deposits up to $250,000 per account type are protected if the bank fails. This is the same protection offered by all FDIC-insured banks, so safety is not a differentiator between Truist and other banks.