![]() ![]() Unless you’re sure you can commit to locking your funds away for a specified period, whether it’s months or years, it’s best to stick to a savings or money market account. As with most certificates of deposit, Truist charges an early withdrawal penalty, should you withdraw your money from the account before the term ends. The rates for Truist’s CDs may be higher than those for the savings accounts, but still are much lower than CD rates that are offered by other top-yielding banks. Other savings options at Truistīesides savings and money market accounts, Truist also offers a selection of CDs in certain markets. With some research, you can greatly minimize these charges and restrictions. But the account has a $1,000 minimum balance requirement to avoid a monthly fee, and its yield is not very rewarding.Īs you navigate savings account options, be sure to look out for fees and minimum requirements that may apply. Truist’s money market account may be of value, if access to branches and writing checks are among your preferences. The account’s $5 monthly fee is waived for account holders under age 18, when a minimum $300 daily balance is maintained, among other conditions or if you have a Truist checking account. A $50 minimum deposit is required to open the account. The Truist One Savings account is an option for short-term goals and everyday saving, such as for an emergency fund. BB&T, short for Branch Banking & Trust, is one of the countrys largest banks overall and one of the largest regional banks in the nation. You will need to enroll in BB&Ts Small Business Online program if you wish to give your bookkeeper view only bank account access. Here’s a closer look at Truist’s savings account options and rates. Truist’s rates are lower than the national average, and much higher APYs can be found elsewhere, especially at online banks. The APYs offered on all of Truist’s savings products are the same, regardless of balance. In addition to the Online Savings account, Truist offers a standard Truist Savings account and a money market account that provide customers the flexibility of banking online and at a branch. Text banking, which customers can enroll in to check balances and see account activity via text messages. Paperless statements, accessible online or through the mobile app. Truist offers the latest digital services to make online banking seamless, including:Ī mobile banking app that allows you to transfer money between accounts, make payments and deposit checks. Enter the name of the bank and select the branch name from the. There are currently more than 2,100 Truist branch locations as of March 17, according to the Federal Deposit Insurance Corp. BB&T routing number can be located online by using the ValutaFX bank routing number checker. Since then, BB&T and SunTrust have gradually transitioned to the Truist name. Truist is the company formed from the merger of BB&T and SunTrust banks in 2019. Logo by Truist Financial Illustration by Hunter Newton/Bankrate ![]()
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