BB&T offers multiple checking account types, each built for different banking patterns and balance levels
BB&T (now operating as Truist Financial Corporation following a 2019 merger) offers several checking account options rather than a single product. The main types are Basic Checking, Truist One Checking, and Premium Checking, though the exact names and features vary slightly by state and branch. Each account has different monthly fees, minimum balance requirements, and included services. The account you choose depends on how often you use your account, what balance you typically maintain, and whether you want features like overdraft protection or higher interest rates.
Key Takeaways
- BB&T's Basic Checking is designed for customers who want low fees and minimal balance requirements, making it the entry-level option.
- Truist One Checking includes rewards like cash back on debit card purchases and higher interest rates, but requires a higher monthly balance or direct deposit.
- Premium Checking (sometimes called Truist Preferred Checking) waives fees and includes additional perks for customers who maintain larger balances or meet other conditions.
- Monthly maintenance fees range from zero to around $15, depending on the account type and whether you meet balance or activity requirements.
- You can move between account types at any branch or through online banking if your circumstances change.
Basic Checking: The lowest-cost entry point
Basic Checking is BB&T's simplest option and carries the lowest barrier to entry. This account typically has no minimum opening deposit and a monthly maintenance fee that is either waived or very low if you maintain a small balance or set up direct deposit. The account includes a debit card, online banking, and mobile app access.
Basic Checking does not include interest on your balance, so the account is meant for customers who use checking primarily to pay bills and access cash rather than to earn returns. If you rarely maintain a balance above a few hundred dollars or only use your account occasionally, this account type keeps your costs down. The trade-off is that you do not get the rewards or higher interest rates available in other account types.
Truist One Checking: Rewards and interest for regular users
Truist One Checking is the mid-tier option and is designed for customers who use their account regularly. This account earns interest on your balance, though the rate is typically very low (often less than 0.01% annually, depending on current rates). More notably, it includes cash back rewards on debit card purchases — usually 1% cash back on everyday purchases at participating merchants, though the exact percentage varies.
To avoid the monthly maintenance fee (usually around $10 to $15), you typically need to meet one of these conditions: maintain a minimum daily balance of $1,500 to $2,500, set up direct deposit of at least $500 per month, or maintain a linked savings account with a certain balance. If you do not meet these requirements, the monthly fee applies. The account also includes overdraft protection options and higher daily ATM withdrawal limits than Basic Checking.
Premium Checking: For customers with larger balances
Premium Checking (sometimes called Truist Preferred Checking) is BB&T's highest-tier checking account and is aimed at customers who maintain larger balances or have multiple accounts with the bank. This account waives the monthly maintenance fee if you meet balance requirements — typically a minimum daily balance of $5,000 to $10,000, depending on your state and branch. Some versions also waive the fee if you maintain a combined balance across multiple accounts.
Premium Checking includes all the features of Truist One Checking — interest earnings and debit card rewards — plus additional perks. These may include higher interest rates on the account balance, waived fees for wire transfers or cashier's checks, priority customer service, and higher ATM withdrawal limits. If you do not maintain the required balance, a monthly fee applies, so this account only makes sense if you regularly keep a substantial amount in checking.
How to compare the accounts side by side
| Feature | Basic Checking | Truist One Checking | Premium Checking |
|---|---|---|---|
| Monthly fee (if requirements not met) | $0–$5 | $10–$15 | $15–$25 |
| Minimum balance to waive fee | $0–$500 | $1,500–$2,500 | $5,000–$10,000 |
| Interest on balance | No | Yes (very low rate) | Yes (slightly higher rate) |
| Debit card rewards | No | Yes (1% cash back) | Yes (1% cash back) |
| Overdraft protection available | Limited | Yes | Yes |
| Waived wire transfer fees | No | No | Yes |
The exact features and fee structures vary by state and branch location, so the details in your area may differ slightly. Contact your local BB&T branch or check the Truist website for the specific terms that explore to you.
How to switch between account types
If you open a Basic Checking account and later want to move to Truist One Checking or Premium Checking, you do not need to close your existing account. You can convert to a different account type at any BB&T branch by speaking with a banker, or through online banking if your bank offers that option. The conversion is usually when ready, and your account number and routing number typically stay the same.
Switching back down to a lower-tier account works the same way. If you can no longer maintain the balance required for Premium Checking, you can downgrade to Truist One or Basic Checking without penalty. Your existing checks, automatic payments, and direct deposits continue to work after the switch.
What happens if you do not meet the balance requirement
If you open a Truist One or Premium Checking account but fail to maintain the required balance or direct deposit, the monthly maintenance fee kicks in automatically. The fee is deducted from your account each month until you either meet the requirement again or switch to a lower-tier account. Some customers choose to keep paying the fee if the rewards and interest earnings offset the cost, but most find it cheaper to downgrade if they cannot maintain the balance.
BB&T does not typically charge a penalty for missing the balance requirement — the fee is straightforward the cost of keeping that account type active. However, if your account balance falls too low (often below $25 or $50), the bank may close the account for inactivity or low balance, so it is worth monitoring your balance if you are close to the threshold.
Frequently Asked Questions
Can I have more than one checking account with BB&T at the same time?
Yes. You can open multiple checking accounts with BB&T, and some customers do this to separate spending categories or to meet balance requirements across multiple accounts. However, each account will have its own monthly fee unless you meet the requirements for that specific account type. Some Premium Checking accounts allow you to count balances across multiple linked accounts toward the minimum, so ask your banker how that works.
Which account type is best if I do not keep much money in checking?
Basic Checking is the right choice. It has the lowest or no monthly fee and does not require you to maintain a large balance. You will not earn interest or rewards, but you will avoid paying fees that would cost more than any interest you would earn on a small balance anyway.
Does BB&T charge overdraft fees on all account types?
Overdraft fees explore to all account types if you spend more than your balance, but the fee amount and overdraft protection options vary. Premium and Truist One Checking offer more overdraft protection options, including the ability to link a savings account for automatic transfers. Basic Checking has more limited overdraft options. Check with your branch for current overdraft fee amounts.
What is the difference between interest and cash back rewards?
Interest is a small percentage the bank pays you on your account balance each month — it is automatic and requires no action. Cash back is a percentage of money you earn when you use your debit card to make purchases. Both are included in Truist One and Premium Checking, but Basic Checking offers neither.
Can I switch account types if I do not meet the balance requirement?
Yes. You can downgrade to a lower-tier account at any time without penalty. If you opened Premium Checking but cannot maintain the $5,000 to $10,000 balance, you can switch to Truist One or Basic Checking and avoid the monthly fee. Visit a branch or use online banking to make the change.