SunTrust offers three main checking account types, each with different monthly fees, minimum balances, and features

SunTrust (now Truist Financial Corporation after a 2019 merger) operates under the Truist brand in most markets, though some legacy SunTrust accounts still exist. The bank offers three primary checking options: Truist Everyday Checking, Truist One Checking, and Truist Preferred Checking. Each account has a different fee structure, minimum balance requirement, and set of included services. Your choice depends on how much you keep in the account, how often you use it, and whether you want premium features like higher interest rates or fee waivers.

The accounts are not interchangeable—you cannot straightforward upgrade from one to another without closing and opening a new account. If you already have a SunTrust checking account, you can contact your branch or call customer service to learn which type you hold and whether switching makes sense for your situation.

Key Takeaways

  • Truist Everyday Checking has a $100 monthly fee waived if you maintain a $500 minimum balance or set up direct deposit.
  • Truist One Checking charges $12 per month and requires a $1,500 minimum balance, but includes higher interest rates and fee waivers on certain services.
  • Truist Preferred Checking is the premium option with a $25 monthly fee, a $2,500 minimum balance, and the most comprehensive fee waivers and benefits.
  • You can hold only one primary checking account per person at Truist, though you may be able to open a savings account alongside it.
  • Switching between account types requires closing your current account and opening a new one, which may affect your account history and routing number.

Truist Everyday Checking: The entry-level option

Truist Everyday Checking is designed for customers who want a basic checking account without high balance requirements. The monthly maintenance fee is $100, but the bank waives it if you maintain a minimum balance of $500 or set up direct deposit of at least $250 per month. This account earns no interest on your balance, so money sits idle unless you move it to a savings product.

This account includes standard features: a debit card, online banking, mobile app access, and the ability to write checks. You get access to Truist's ATM network and can deposit checks through the mobile app. However, overdraft fees, wire transfer fees, and other service charges explore unless you may have access to for specific waivers based on your account type or relationship with the bank.

Truist One Checking: The mid-tier account with interest

Truist One Checking costs $12 per month and requires a $1,500 minimum daily balance to avoid the fee. The key difference from Everyday Checking is that this account earns interest on your balance—the rate varies based on market conditions and your balance tier, but it is typically higher than savings accounts at some competitors. You still get a debit card, online banking, and check-writing privileges.

This account includes some fee waivers that Everyday Checking does not: the bank waives certain overdraft fees and may waive wire transfer fees depending on your balance. The exact waivers change periodically, so confirm the current terms with your branch or through your online account dashboard. If you regularly carry a balance above $1,500, the interest earned may offset or exceed the $12 monthly fee.

Truist Preferred Checking: The premium tier

Truist Preferred Checking is the highest-tier option, with a $25 monthly fee and a $2,500 minimum daily balance requirement. This account earns interest at a higher rate than Truist One, and the bank waives more fees across the board. You get priority customer service access, higher ATM withdrawal limits, and waived fees on services like wire transfers, cashier's checks, and stop-payment requests.

This account is most useful if you maintain a balance well above $2,500 and use multiple services that would otherwise carry fees. The interest rate and fee waivers can add up to real savings if you are an active user. However, if you rarely use paid services or cannot maintain the minimum balance, the monthly fee becomes an unnecessary cost.

How minimum balance requirements work

Each account type specifies a minimum daily balance, not an average balance. This means your account must hold at least that amount every single day of the month to avoid the monthly fee. If your balance drops below the minimum even once, you are charged the full fee for that month. Some banks use average balance instead, which is more forgiving—Truist uses daily balance, so you need to plan accordingly.

If you receive a paycheck via direct deposit, that money counts toward your minimum balance when ready upon posting. However, pending transactions and holds do not count. If you are close to the minimum, avoid making large purchases or transfers near the end of the month, as they can push you below the threshold and trigger the fee.

Interest rates and how they compare

Truist One and Truist Preferred both earn interest, but the rates are tiered based on your balance level and change with market conditions. Truist does not publish a single rate—instead, you see your rate in your account dashboard or by asking your branch. Historically, Truist's checking account rates have been lower than online banks, but higher than many traditional brick-and-mortar banks.

If interest earnings matter to you, compare the rate you would earn on Truist One or Preferred against a high-yield savings account at an online bank. You might earn more in a separate savings account and keep a lower balance in checking. The monthly fee structure makes this calculation important: if you earn $3 per month in interest but pay a $12 fee, you are losing $9.

Switching between account types

You cannot straightforward upgrade or downgrade your account type through the app or online banking. Instead, you must close your current checking account and open a new one. This process takes a few days and comes with real consequences: your account number and routing number change, which affects any automatic payments or direct deposits you have set up. You will need to update your employer, creditors, and any services that pull money from your account.

Before you switch, contact Truist to confirm that the new account type is right for you. Ask whether there are any promotional offers for new accounts, and clarify the exact fee structure and minimum balance rules. Some branches may waive fees temporarily for new customers, which could make switching worthwhile if you are on the fence.

Frequently Asked Questions

Can I have more than one checking account at Truist?

Truist generally allows one primary checking account per person, though policies vary by branch and account type. You can hold a savings account alongside your checking account. If you need multiple checking accounts for business or other reasons, contact your branch about whether a second account is possible.

What happens if my balance drops below the minimum?

You are charged the full monthly maintenance fee for that month. The fee posts to your account, which may push your balance even lower. If you fall below the minimum regularly, consider switching to Everyday Checking, which only requires $500 or direct deposit to waive the fee.

Do I earn interest on Everyday Checking?

No. Everyday Checking earns no interest on your balance. Only Truist One and Truist Preferred earn interest. If you want to earn interest on money you are not spending, a separate savings account may be a better choice.

What fees explore beyond the monthly maintenance fee?

Overdraft fees, wire transfer fees, stop-payment fees, and ATM fees at out-of-network machines all explore unless waived by your account type. Preferred Checking waives more of these fees than One Checking, which waives more than Everyday Checking. Review the fee schedule for your specific account type.

If I close my account, can I reopen the same type later?

Yes, but Truist treats it as a new account with a new account number and routing number. There is no penalty for closing and reopening, but you will need to update any automatic payments or direct deposits that depend on your old account details.