SunTrust does not charge a fee to close a checking account

You can close your SunTrust checking account at any time without paying a closure fee. SunTrust (now Truist Financial Corporation following a 2019 merger) does not impose penalties for closing accounts early, and there is no charge for the closure itself.

What you may owe instead depends on your account status at the moment you close. If your account is overdrawn, you will need to cover that negative balance before or at closure. If you have pending transactions or automatic payments still processing, those will continue to post and may create overdraft fees separate from any closure cost.

Key Takeaways

  • SunTrust charges no fee to close a checking account, regardless of how long you have held it.
  • You must pay any negative balance in your account before closure is complete.
  • Pending transactions and scheduled payments can still post after you request closure, so contact the bank to stop them first.
  • You can close your account in person at a branch, by phone, or by mail, depending on your preference and account type.

What happens to a negative balance when you close

If your account is overdrawn when you close it, SunTrust will not close the account until the negative balance is resolved. You have two options: deposit money to bring the account to zero, or authorize SunTrust to deduct the amount from another account you hold with them.

If you do not settle the overdraft, the account will remain open in a suspended state while the bank attempts collection. This can damage your banking history and may be reported to ChexSystems, a banking verification system that other banks check when you try to open new accounts elsewhere.

Stopping automatic payments and pending transactions before closure

The most common source of unexpected charges after closure is a payment that posts after you have requested the account be closed. Automatic bill payments, recurring subscriptions, and scheduled transfers can continue to process for days or even weeks after you initiate closure.

Before you close, log into your SunTrust account online or call the bank to review all active automatic payments. Cancel each one individually, or contact the companies that charge you directly and update your payment method. Wait at least one full business day after canceling payments before you request account closure to may support the cancellations have processed.

How to close your SunTrust checking account

You have three main routes to close your account. The fastest is to visit a SunTrust branch in person with your account number and a photo ID. A banker can close the account when ready, confirm your balance, and discuss how to handle any remaining funds.

If you cannot visit a branch, call SunTrust customer service at the number on the back of your debit card. Have your account number and Social Security number ready. The representative will walk you through the closure process and confirm your final balance.

For accounts with complications—such as a significant overdraft, pending litigation, or fraud holds—the bank may require written closure request by mail. Ask the customer service representative whether your account qualifies for phone closure or if you need to send a written request.

What to do with remaining funds

If your account has a positive balance when you close, SunTrust will issue a check or transfer the funds to another account you specify. Ask the representative how long the check will take to arrive—typically five to ten business days—or request an electronic transfer to another bank account if you need the money faster.

Keep the check or transfer confirmation for your records. If you do not receive the funds within the stated timeframe, contact SunTrust with your closure confirmation number and the date you closed the account.

Accounts with special status or holds

Some SunTrust accounts cannot be closed when ready. If your account is flagged for fraud investigation, has a legal hold, or is part of an active dispute, the bank will not allow closure until the issue is resolved. The customer service representative will explain the hold and provide a timeline for when you can close.

If you are closing a joint account, both account holders must agree to closure. SunTrust will not close a joint account on the request of one person alone. If you and a co-owner disagree about closure, you may need to remove yourself as an authorized user instead, which does not require the other person's consent.

Frequently Asked Questions

Will closing my SunTrust account hurt my credit score?

Closing a checking account does not directly affect your credit score because checking accounts do not appear on your credit report. However, if you close the account with an unpaid overdraft, that debt may be reported and could harm your score.

Can I reopen a SunTrust account I closed?

Yes, you can open a new SunTrust account after closing one. However, if you closed the account with an unpaid overdraft or negative balance, the bank may deny your new process or require you to settle the old debt first.

What if I have direct deposits scheduled to my SunTrust account?

You must update your direct deposit information with your employer or the organization sending the deposit before you close the account. If a deposit posts after closure, SunTrust will return it to the sender, and you will need to contact them to reissue it to your new account.

How long does it take to close a SunTrust checking account?

In-person closure at a branch is when ready. Phone closure typically completes within one business day. If the bank requires a written request, allow five to ten business days for processing after they receive your letter.