The content is accurate at the time of publication and is subject to change.
Truist One Checking Account Review
Posted on Mar 22, 2024
Updated on Mar 22, 2024
Truist Bank (Member FDIC) was founded in 2019 as the result of the merger of BB&T and SunTrust. It is headquartered in Charlotte, North Carolina, and operates over 2,500 branches in the South, Mid-Atlantic, and Midwest. Today, Truist is a top 10 U.S. commercial bank that offers a wide range of financial services, including checking accounts, saving accounts, certificates of deposit, credit cards, loans, and other financial products.
Here we'll review Truist's standard checking account: Truist One Checking. This account charges no overdraft fees, offers multiple ways to waive monthly maintenance fees, and has benefits tiers with additional loyalty perks and rewards. Read on to learn more about these and other features of a Truist checking account.
Quick overview: Truist One Checking
Minimum opening deposit: $50
Bonus & rewards: $400.298 Plus, earn 10% - 50% more rewards on select Truist credit cards.
Monthly fee: $12 (there's five ways to waive)300
Other fees: No overdraft fees, No ATM fees at Truist ATMs
FDIC Insured: Yes, up to the standard FDIC limit of $250,000
Fees
The Truist One Checking account requires a $50 minimum opening deposit. The account's monthly maintenance fee is $12, but you will be given five ways to waive this fee. Here's how you can waive the Truist One Checking monthly free:
- Make $500 or more in total qualifying direct deposits per statement cycle.
- Maintain a combined monthly average balance of $500 or more across all eligible Truist accounts.
- Have a personal Truist credit card, mortgage or consumer loan (excluding LightStream®).
- Have a linked small business checking account.
- Be a student under the age of 25.
While the monthly fee can be waived, there are a few other fees associated with the Truist One Checking account. These are the usual fees you may have to pay for any checking account.
| Fee | |
|---|---|
| Out-of-Network ATM Fee | $3 per transaction; $5 outside the U.S. |
| International Point of Sale/ATM Withdrawal | 3% per transaction |
| Stop Payment Fee | $35 each |
| Returned Deposited Item / Cashed Item Fee | No charge |
| Incoming Domestic Wire Transfer Fee | $15* |
| Outgoing Domestic Wire Transfer Fee | $30 |
| Debit Card Rush Delivery | $30 |
| Monthly Paper Statement Fee | $3; no charge for paperless online statement |
*Truist One Checking account receives one no-fee incoming domestic wire, or one no-fee incoming international wire, or one no-fee incoming funds transfer per calendar month. However, intermediary financial institutions may deduct fees from incoming international wires, reducing the amount of proceeds credited to your account. Fees may vary.
Bonuses and Rewards
The Truist One Checking promo offer is a limited time welcome offer for new members: you can get $400 when you open a new Truist One Checking account and receive at least one qualifying direct deposit of $500 or more and complete at least 15 qualifying debit card purchases within 90 days of account opening. The account must be open online and you should enter the promo code TRUIST400AFL24 to be eligible to participate in this promotion. Also note that the $400 cash bonus offer expires on June 26, 2024 (terms apply).298
In addition to the Truist One Checking bonus offer, you can earn a 10% to 50% Loyalty Bonus on cash back or miles you redeem into your Truist deposit account. To be eligible to receive a Loyalty Bonus, you should have a Truist One Checking account and one of the eligible Truist credit cards (like Truist Cash Rewards or Truist Travel Rewards, etc.)
If you are a Delta frequent flyer, you can request a Delta SkyMiles® Debit Card from Truist for an annual fee of $95 to $25 (based on your Level tier). The Delta SkyMiles® Debit Card will allow you to earn 5,000 bonus miles and 1 mile per $2 on everyday purchases (terms apply).
Benefit Levels
To reward loyal members, Truist One offers five Levels of perks301. The more you have on your combined average balance across all eligible Truist accounts, the more perks you get. Eligible Truist accounts include checking accounts, savings, CDs, IRAs and/or investments through Truist Investment Services, Inc.
As you move to the next Level, you will earn more rewards and get more perks, like more waived fees and free checks. Truist will automatically move you to the next Level once you reach the next level's threshold. Here's what each Level tier unlocks:
| Level 1 | Level 2 | Level 3 | Level 4 | Level Premier | |
|---|---|---|---|---|---|
| Total monthly average balance | $0.00 - $9,999.99 | $10,000 - $24,999.99 | $25,000 - $49,999.99 | $50,000 - $99,999.99 | $100,000+ or Premier/Wealth Client |
| Truist credit card loyalty bonus | 10% | 20% | 30% | 40% | 50% |
| Debit card daily limits |
$500 ATM $3,000 POS |
$500 ATM $3,000 POS |
$2,500 ATM $3,000 POS |
$2,500 ATM $3,000 POS |
$2,500 ATM $3,000 POS |
| Additional Truist One Checking and/or Truist One Savings accounts with no monthly fee | 1 Savings |
1 Checking 1 Savings |
2 Checking 1 Savings |
3 Checking 1 Savings |
Unlimited Checking and Savings |
| No-fee withdrawals at non-Truist ATMs | None | 1 per monthly cycle | 3 per monthly cycle | 5 per monthly cycle | Unlimited |
| Delta SkyMiles Debit Card cost | $95 | $95 | $75 ($20 discount) | $75 ($20 discount) | $25 ($70 discount) |
| Check orders | Free first order (10-pack) |
Free first order (10-pack) 50% reorder discount |
Free first order (10-pack) Free reorders |
Free first order (10-pack) Free reorders |
Free first order (10-pack) Free reorders |
| Official checks/money orders per statement cycle |
1 no-fee Official Check 1 no-fee Money Order |
1 no-fee Official Check 1 no-fee Money Order |
1 no-fee Official Check 1 no-fee Money Order |
1 no-fee Official Check 1 no-fee Money Order |
1 no-fee Official Check 1 no-fee Money Order |
| Annual fee discounts on a safe deposit box | $25 | $25 | $25 | $25 | $25 |
| Zelle® limits |
$2,000 daily $10,000 rolling 30 days |
$2,000 daily $10,000 rolling 30 days |
$2,000 daily $10,000 rolling 30 days |
$2,000 daily $10,000 rolling 30 days |
$5,000 daily $15,000 rolling 30 days |
$100 Negative Balance Buffer
The Truist One Checking is the only Truist account that offers a $100 Negative Balance Buffer299 that allows to overdraw the account for up to $100. This feature is automatic, meaning you do not need to request it specifically. You simply need to meet eligibility requirements to enjoy it. Here are the requirements to qualify for this feature:
- Your account must be opened for a minimum of 35 days,
- Your account must be funded with a positive balance, and
- You must make a single direct deposit of at least $100 per month for two months in a row.
To continue enjoying and remain qualified for the $100 Negative Balance Buffer, you should continue making direct deposits of at least $100 each month.
This $100 Negative Balance Buffer benefit comes in addition to the no overdraft fees feature. Thus, if you overdraw your Truist One Checking account, Truist will first use that $100 to have your transactions go through. And if there is no buffer left, only then your transactions will be declined - with no fees.
Other benefits and features
The Truist One Checking account comes with a personal Visa debit card. The card can be added to digital wallets, has contactless chip technology, and is eligible for Truist Deals (a program that allows you to earn cash back at select merchants, enrollment required).
Account members can also manage their Truist One Checking account using online account access or the Truist Mobile app. Some online banking features include mobile check deposit, card controls, activity alerts, and sending money with Zelle.
Truist also has a network of ATMs. When you need cash, you can use Truist ATMs to withdraw money with no fees. Plus, you can unlock free non-Truist ARM transactions starting at Level 2 of Truist One Checking account.
Bottom line
The Truist One Checking account is a good option for consumers who live near one or two Truist Bank locations in the South, East and Midwest. If you like convenience and functionality offered by mobile and online banking but are not ready to switch to fully digital banking, the Truist One is worth considering. The account offers great opportunities to waive monthly fees and to get access to additional perks. New members can also qualify for bonuses and limited time offers.
However, if you are looking for accounts that will earn interest, then you should look for interest-earning checking accounts from other banks.
