Best Bank Account At Truist: Get Cash Back or Miles and a $100 Negative Balance Buffer
Written by
Sarah Sharkey
Edited by
Melanie Grafil
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
Building a bright financial future is much easier when you have a helpful checking account. Some checking accounts tend to drag you down with draining fees and limited perks. But other checking accounts can give you the useful tools you need to push your financial situation forward. In terms of bank accounts offered at Truist, the Truist One Checking account presents a helpful opportunity.
GOBankingRates will explore why this account stands apart.
Truist One Checking Account
After a careful review of the Truist savings accounts and checking accounts available, the Truist One Checking account earned the top spot. The sections below will cover why this checking account is a worthwhile choice for many.
Easy to Waive Fees
The Truist One Checking account comes with a $12 monthly maintenance fee. While that’s a relatively high fee to contend with, there are five different ways to waive this fee. A few of those options include:
- Receiving $500 or more in qualifying direct deposits per statement cycle
- Maintaining a total combined balance of at least $500, across all Truist personal deposit and investment accounts
- Having a personal Truist credit card, mortgage loan, or consumer loan (excluding LightStream loan products)
- Linking a Small Business Checking Account
- Being a student under the age of 25
Of course, these are the only fees attached to this checking account. Notably, there are no overdraft fees. Some of the other fees you might encounter include a $35 stop payment fee and a $3 out-of-network ATM fee. Make sure you understand all of the fees involved before signing up.
Easy to Open
The Truist One Checking Account is straightforward to open. You can open an account online or in person. In either case, you’ll need to provide some basic information, like your name, contact information and Social Security number. Additionally, you’ll need to make the minimum opening deposit of $50. Once your account application is approved, you can start banking with Truist right away.
Branch and ATM Locations
Truist Bank operates over 2,000 branches across the country. The North Carolina-based bank has branches in 17 states. These states include Alabama, Florida, Georgia, Indiana, Kentucky, Maryland, North Carolina, New Jersey, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia and Washington, D.C.
Even if you don’t live in a state with a Truist branch location, you can work with the bank online. But many Truist customers enjoy the ability to get things done in person at a local branch.
Perks
The Truist One Checking account opens the door to rewards-earning opportunities. Depending on the balance of your checking account, you can earn between 10% to 50% cash back or rewards points on Truist credit card purchases, if eligible. The amount you can earn is broken down into tiers:
Level 1: $0 – $9,999.99
Accountholders with a balance between $0 and $9,999.99 are considered to be at Level 1. At this level, you can earn 10% more rewards from your Truist credit cards, unlock a 10-pack of free checks, and open a Truist One Savings account without a monthly fee.
Thanks!
Level 2: $10,000-$24,999.99
Accountholders with a balance between $10,000 and $24,999.99 are considered to be at Level 2. At this level, you can earn 20% more rewards from your Truist credit cards, unlock a 10-pack of free checks, open a Truist One Savings account without a monthly fee, enjoy one free non-Truist ATM transaction per cycle, and tap into a $25 annual fee discount for any size safe deposit box.
Level 3: $25,000-$49,999.99
Accountholders with a balance between $25,000 and $49,999.99 are considered to be at Level 3. At this level, you can earn 30% more rewards from your Truist credit cards, unlock a 10-pack of free checks, enjoy three free non-Truist ATM transactions per cycle, open a Truist One Savings account, and tap into a $25 annual fee discount for any size safe deposit box.
Level 4: $50,000-$99,999.99
Accountholders with a balance between $50,000 and $99,999.99 are considered to be at Level 4. At this level, you can earn 40% more rewards from your Truist credit cards, unlock a 10-pack of free checks, enjoy five free non-Truist ATM transactions per cycle, open a Truist One Savings account, and tap into a $25 annual fee discount for any size safe deposit box.
Level Premier: $100,000
Accountholders with a balance above $100,000 are considered to be at Level Premier. At this level, you can earn 50% more rewards from your Truist credit cards, unlock a 10-pack of free checks, enjoy five free non-Truist ATM transactions per cycle, open a Truist One Savings account, and tap into a $25 annual fee discount for any size safe deposit box.
Delta SkyMiles Debit Card
Accountholders also have the option to get a Delta SkyMiles Debit Card, instead of a regular debit card. The card comes with a $95 annual fee. But Level 3 and 4 accountholders enjoy a discounted annual rate of $75. Level Preimer accountholders enjoy a discounted annual fee of $25.
Negative Balance Buffer
Eligible clients can also tap into the $100 Negative Balance Buffer. Essentially, this allows you to overdraw your account by up to $100 without a fee.
Mobile Money Management
The option to manage your money efficiently from an app can be a game-changer. If you choose to bank with Truist, the mobile app can be a helpful tool. Both the iOS and Android versions of the app have earned over 4.5 out of 5 stars, with thousands of happy users.
Final Take
The Truist One Checking account is a worthwhile option for many looking for a rewards checking account. While the bank offers other products, the Truist One Checking account stands out. But unlike other checking accounts on the market, you’ll miss out on the chance to earn interest on your savings. If you decide that this one isn’t for you, explore other top checking accounts today.
FAQ
You have questions about Truist Bank's accounts. Here are the answers.- Is Truist Bank a real bank?
- Yes. Truist Bank is a legitimate bank that offers a wide range of deposit and lending products. Truist Bank was created after a merger between SunTrust and BB&T. Learn more about this bank in our full Truist review.
- Is Truist Bank safe right now?
- Truist Bank protects your deposits with FDIC coverage. The FDIC-insured nature of this financial institution means that your funds are protected for up to $250,000 per depositor, per account type. With that, the funds you save at Truist Bank are safe, up to the FDIC coverage limit.
More Bank Accounts
Methodology: To determine rankings, GOBankingRates looked at the following factors across all accounts (checking and savings) from each bank (excluding relationship accounts): (1) minimum deposit to open an account; (2) monthly checking fee ratio (percent of the minimum to avoid fee compared to the monthly fee itself); (3) minimum needed to earn interest; (4) APY on the account; (5) overdraft fee amount; and (6) any associated perks advertised with the account. All factors were scored and combined, with the lowest score being best. In final calculations, factor (1) was weighted 0.5x, factor (2) was weighted 2x, and factor (6) was weighted 1.5x, with any cash bonus offer counting as a double perk. Search volume for each account was also taken into consideration. Rates, terms and bonus offers can change from the date of publication.
Information is accurate as of Oct. 13, 2023.
