Comprehensive Truist Bank review: checking, savings and CDs (2024)

In today's digital age, where banking convenience is paramount, Truist Bank emerges as a significant financial institution following the merger of BB&T and SunTrust. With a suite of banking products including checking accounts, savings accounts, and CDs, Truist Bank aims to offer a customer-friendly banking experience. But how does it fare in the grand scheme of financial options available?

Should You Use Truist Bank?

Deciding to bank with Truist may come down to a balance of convenience and financial benefits. Truist Bank’s in-person banking services are robust, particularly in the Southeastern United States, making them a viable option for those who prioritize face-to-face interaction. However, with the increasing trend of digital banking, potential customers must consider the online banking services and mobile app functionalities provided by Truist.

Another significant consideration is the Truist Bank overdraft protection features. The Truist One Checking account notably offers a $100 overdraft buffer, an appealing safety net for those who may occasionally slip up in balancing their checkbook.

Ultimately, whether you should use Truist Bank depends on your banking preferences, be it the ease of digital transactions or the assurance of physical branch access.

What Are The Benefits of Truist Bank’s Checking Accounts?

Truist Bank’s checking accounts come with several attractive features. The recently waived overdraft fees signify a move towards a more forgiving banking approach. This aligns with the current consumer demand for financial products that offer flexibility and understanding.

The Truist One Checking account, in particular, is designed to accommodate the everyday banking needs of most customers. With features such as no minimum balance requirement and the ability to have the monthly maintenance fee waived, it resonates with a broad user base seeking hassle-free banking.

Moreover, incorporating benefits like mobile check deposits and online bill pay, Truist Bank caters to the modern customer's digital needs.

How Does Truist Bank Compare To Other Banks?

When compared to its competitors, Truist Bank stands out for its merger history and the consequent large network of branches. However, the comparison of Truist Bank savings rates with competitors often highlights a common drawback of traditional banks—lower interest rates on savings accounts.

While the bank might not be the top choice for those seeking the highest returns on their savings, it does offer stability and a wide range of financial products.

Moreover, Truist’s commitment to customer service and local community engagement may draw customers who value a bank that invests in their area.

What Are The Current Savings Rates at Truist Bank?

As of 2024, Truist Bank's savings rates remain competitive with other traditional brick-and-mortar banks but fall behind when compared to online banks. This reflects a general trend where traditional banks tend to offer lower interest rates on savings accounts.

However, it's important to consider other factors like account fees, ease of access, and the quality of customer service when evaluating the overall savings experience.

Is Truist Bank Safe for Customers?

When it comes to security, Truist Bank has established itself as a safe choice for customers. With the backing of the FDIC insurance for individual accounts, customers can rest assured their deposits are protected.

Additionally, the bank's positive rating from the Better Business Bureau (A+) suggests a strong commitment to customer satisfaction and dispute resolution.

Security measures for online banking and fraud protection are also in place, providing customers with the necessary assurances for safe and secure banking transactions.

What Do Customers Say About Truist Bank?

Customer feedback can be incredibly telling. Truist Bank user experiences and feedback often highlight the bank's customer service and the ease of in-person banking services.

Some customers have commended the bank for its responsiveness and the professional conduct of its staff, while others have pointed out areas where the bank could improve its digital offerings.

The overall sentiment, however, leans towards a positive view of Truist Bank as a reliable and customer-centric institution.

How To Access Truist Bank Online Banking?

Accessing Truist Bank online banking is straightforward. Customers can enroll on the Truist website or through the mobile app by providing the necessary identification details and setting up secure login credentials.

The online platform offers comprehensive features, including account management, fund transfers, and bill payments, ensuring customers can handle their financial tasks with ease and efficiency.

With 24/7 access to online banking, Truist keeps up with the demand for on-the-go financial management, which is crucial in our fast-paced lifestyle.

Comprehensive Truist Bank Review: Checking, Savings and CDs (2024)

Looking deeper into Truist Bank's offerings in 2024, it's clear that the bank has taken strides to adapt to customer needs. This comprehensive Truist Bank review must recognize the efforts made to streamline checking accounts and offer overdraft protection that aligns with modern banking expectations.

The bank's savings and CD options, while not leading the market in terms of interest rates, provide a dependable choice for those who appreciate the combined benefits of both digital and in-person banking services.

Understanding Truist Bank Fees and Waivers

Understanding the fee structure is essential when choosing a bank. Truist Bank maintains a clear and transparent fee schedule. Monthly maintenance fees can be waived by meeting certain criteria, which could include maintaining a minimum daily balance or setting up direct deposits.

It's also worth noting the lack of overdraft fees for the Truist One Checking account, which marks a significant deviation from traditional banking penalties.

For a closer look at Truist Bank and its services, check out this informative video:

Related Questions on Truist Bank's Services

Is Truist a Good Bank for Checking Accounts?

Truist is often considered a good bank for checking accounts due to its customer-friendly features and the absence of overdraft fees on certain accounts. With a variety of checking account options, customers can select the one that best fits their financial needs.

Additionally, the bank's extensive branch network can be a significant advantage for those who prefer in-person banking.

What Is the Current CD Rate at Truist Bank?

The current CD rates at Truist Bank may not be the highest on the market, especially when compared to online banks. However, they offer stability and security for those looking to invest their money in a low-risk account.

Customers should review the latest rates and terms directly with the bank, as they are subject to change based on market conditions.

What Is the Rating for Truist Bank?

Truist Bank has received an A+ rating from the Better Business Bureau, reflecting its commitment to customer service and business practices. Financial review sites also generally rate Truist positively, often citing its customer service and comprehensive banking products.

How Financially Secure Is Truist Bank?

Truist Bank is considered financially secure, with a solid foundation following the merger of BB&T and SunTrust. It is FDIC insured, which adds another layer of security for customers' deposits.

As with any financial decision, customers should conduct their research and consider their financial goals and needs when evaluating the security of a bank.