Truist checking review: No overdraft fees

A smiling person seated in an armchair uses their smartphone to check their Truist checking account while resting their feet on a small table.Image: A smiling person seated in an armchair uses their smartphone to check their Truist checking account while resting their feet on a small table.
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Truist checking accounts at a glance

Physical locations3,000+ in-person branches and 3,600+ ATMs
Getting started$25–$50 minimum opening deposit (depending on account type)
Monthly service feeUp to $12 a month (there are five ways fee can be waived)
Overdraft feesAccount options with zero overdraft fees
Other feesOut-of-network ATM fees may apply (certain account levels cover some non-Truist ATM transaction fees)
How to depositDigitally (mobile banking) or at an in-person branch or ATM
How to withdrawUsing a free personal check, via digital transfers, with a debit card
Notable featureAbility to overdraw up to $100, on Truist One Checking account — with no fees

Truist is one of the largest banks in the U.S. It offers standard banking products including checking accounts, savings accounts, certificates of deposit, money market accounts, credit cards, loans, investing and other financial products. In this article, we’ll be diving deeper into the bank’s Truist One Checking account.

With the Truist One Checking account, account holders don’t have to worry about overdraft fees and can potentially have their monthly maintenance fees waived, making it a good option for consumers looking to avoid traditional banking fees.

Let’s get into what else you should know before opening a Truist checking account.

5 things to know about a Truist checking account

Truist offers a few different checking account products, with two notable options — Truist One Checking and the Truist Confidence Account. Neither account charges overdraft fees, and both offer mobile and online banking services.

While they’re similar, these two checking accounts differ slightly: Truist One Checking offers an everyday checking feel with waivable maintenance fees, while the Truist Confidence Account is a checkless account to help you spend only the cash you have while offering free financial education — making it great for first-timers who need to open a bank account.

1. No overdraft fees

Overdrafts happen — and being financially penalized for them only adds to the stress. If you’re facing lean times or need to be very careful with your budget, overdraft fees can have a significant negative impact. Some banks, including Truist, are taking strides with friendlier overdraft policies. While not all Truist checking options can boast zero overdraft fees, both the Truist One and Trust Confidence accounts do.

2. Different levels of accounts

There are different benefit levels within the Trust One Checking account, each coming with its own set of perks. Level is based on your total monthly average balance across all your Truist accounts, including checking, savings and investments.

As you move into the next level, you’ll earn more rewards and perks, like additional free checks and having more fees waived. Here are the total monthly average balance requirements look like for each level.

  • Level 1: $0–$9,999.99
  • Level 2: $10,000–$24,999.99
  • Level 3: $25,000–$49,999.99
  • Level 4: $50,000–$99,999.99
  • Level Premier: $100,000+

3. Online banking and mobile app

Thanks to digital account access, Truist makes it easy to manage your financial life on the go. You can set up bill pay, make deposits and more using the online banking mobile app with your smartphone.

Notable online banking features include …

  • Mobile check deposit
  • Sending money with Zelle
  • Card controls
  • Activity alerts
  • Security features

You can download the Truist Mobile app in the App Store or Google Play Store.

4. $100 Negative Balance Buffer

On top of having no overdraft fees, you can also overdraw your Truist One Checking account up to $100 and still have your transactions go through — with no fees. So if you’re making a purchase and realize you don’t have the funds in your account, your transaction won’t be declined (up to that $100 overdrawn), as long as you qualify for the program.

To qualify for the Negative Balance Buffer, your account has to be open for at least 35 calendar days, your account must be funded with a positive balance, and you must make a direct deposit of at least $100 per month for two consecutive months. In order to maintain qualification, you have to continue to make a $100 direct deposit at least once a month.

5. Monthly service fees

Most Truist accounts have monthly service fees (up to $12 per month) — but there are five different ways to waive them. While a checking account maintenance fee is a typical practice (and $12 is just about in the middle of what you might pay elsewhere), if you meet one of the requirements below, you can expect to have the monthly service fee waived.

  • Minimum of $500 in qualifying direct deposits every statement cycle
  • Total combined ledger balance of $500 or more in Truist accounts (across both personal deposit and investment accounts)
  • Have a personal Truist credit card, mortgage or consumer loan
  • Have a linked Small Business Checking Account
  • Be a student under the age of 25

How do I open a Truist checking account?

To apply and open a Truist checking account, you have to provide select personal and contact information like your Social Security number, two years of address history, and employment and income information. For the Truist One Checking account, there’s a $50 minimum opening deposit, but the Truist Confidence Account only has a $25 initial deposit requirement.

Is a Truist checking account right for me?

If you’re looking for a new checking account, Truist is a great option for consumers who like the convenience and functionality that mobile and online banking offer, but aren’t totally ready to make the switch to fully digital banking. And if you’re on a tight budget, the zero overdraft fees and additional $100 Negative Balance Buffer can help give you a little room to breathe.

If you’re looking for banking options that will earn interest, you may find that you can access interest-earning checking accounts with other banks. It’s always a good idea to shop around and compare different options before choosing to commit to an interest-bearing financial product.

Not sure if Truist is right for you? Consider these alternatives.

  • Chase: With more than 4,700 banking locations and 16,000 ATMs, Chase is a solid option for someone looking for accessible in-person banking.
  • Ally: If you’re good with fully online banking, Ally might be an option for you. The online bank offers more overdraft coverage and interest-bearing checking.

About the author: Jacqueline DeMarco is a freelance writer based in southern California who graduated from the University of California Irvine with a degree in literary journalism. She writes about a wide range of topics, including fin… Read more.