Truist Bank will be the sixth-largest bank in the United States after the merger, with approximately 10 million households and $324 billion in deposits, and approximately $473 billion in assets.
The bank serves approximately 10 million households in 17 states and a large number of business customers. Furthermore, in its annual Best Banks rankings, GOBankingRates named Truist Bank the Best Regional Bank of 2021. BB&T and SunTrust are in the process of merging to form Truist Bank, a new financial institution.
On December 6, 2019, the two banks completed their merger. Also, during the merger announcement, Truist stated that the company’s transition to the “full Truist experience” will also take place in the next two years.
For the time being, separate BB&T and SunTrust branches remain open. Therefore, to open or manage an account, one must visit a BB&T or SunTrust branch or website as of this writing. Truist depositors, on the other hand, can now use BB&T or SunTrust ATMs without having to incur out-of-network charges.
Truist Bank? Who are They?

Truist Bank was formed in the summer of 2019 by the merger of BB&T and SunTrust. Truist Financial, the sixth-largest bank, was formed in December 2016 as a result of the merger.
It was a takeover of equals, with the two banks’ assets totaling $228 billion and $220 billion. Truist Bank is headquartered in Charlotte, North Carolina, sandwiched between both the two great banks. SunTrust is based in Atlanta, while BB&T is based in Winston-Salem, North Carolina.
While they work to fulfill the merger, BB&T and SunTrust continue to function as separate entities.
Truist Bank Accounts and Other facilities
The reality is that Truist is presently just a name. Truist is linked to by both BB&T and SunTrust: BBT.com/truist and SunTrust.com/truist. But when you go to those landing pages, all you see is text. There are no products, promotions, or even a way to start a Truist Bank account.
Clients of BB&T and SunTrust will eventually become Truist Bank customers. So, if you want to be a member of Truist in the future, the easiest way to do so straight now is to open an account with either BB&T or SunTrust.
Both BB&T and Suntrust are full-service banks with physical locations. If you visit either bank’s website, you’ll notice that they even look similar, with some web pages using the same images.
However, each bank currently offers a range of products. We’ll concentrate on checking accounts to give you an idea of what BB&T, SunTrust, and eventually Truist Bank products look like. Let’s move on to get to know more details about their main bank accounts.
Truist Bank Checking Account
Checking account options are plentiful on both the BB&T and SunTrust sides of the company. Furthermore, the company waives ATM fees when using a BB&T or SunTrust ATM. Truist Bank’s checking account offerings were also named one of the Best Checking Accounts of 2021 by GOBankingRates.
Features | Monthly Maintenance Fees | Minimum Balance | Loyalty Rewards | Interest-Bearing Checking Available |
BB&T Checking Account | $0, $5, $10, $12, $30 | $0, $5, $10, $12, $30 | No | Yes |
SunTrust Checking Account | $0, $7, $20 | $$0, $500, $10,000 | Yes | Yes |
Truist Bank Savings Account
BB&T provides savings accounts that have a variety of purposes. The most famous savings account, fortunately, is its eSavings account. The SunTrust division of the company provides a better Important Savings account with similar benefits.
Savings accounts with high yields are all the new rage presently. So, how do BB&T and SunTrust fare in this regard? Regrettably, no such bank provides a high-yield savings account. That’s also common among full-service banks. Overall, it is the online banks that test the boundaries on high-yield savings accounts higher.
Banks with local branches have higher operating costs, leaving them with much less edge to offer high-yield savings account products.
Features of saving Accounts
- Savings can be used for checking overdraft protection.
- There is no minimum balance.
- Online statements are free of charge.
- There is no monthly maintenance fee.
- SunTrust Essential account holders are limited to six withdrawals for every month.
- The only difference is that BB&T savings account holders can withdraw funds from the branch or a BB&T ATM at any time.
Truist Bank Money Market Account
Most US customers have trusted Truist bank with the Money market account. Money market accounts are a combination of savings and checking accounts. Account-holders can earn interest similar to a savings account while having the spending flexibility of a checking account.
BB&T allows for unrestricted deposits, transfers, and withdrawals. The monthly maintenance fee at BB&T is lower. SunTrust waives maintenance costs if you make at least $100 in automatic transfers per month.
Features | Opening Deposit | Withdrawals | Monthly Maintenance Fee | Minimum Deposit to Avoid Fee | Tiered Interest Rates |
BB&T Checking Account | $100 | Unlimited at branches | $12 | $1,000 | Yes |
SunTrust Checking Account | $100 | Limited to six per month | $17 | $10,000 | Yes |
Truist Bank CD Account
Depositors can withdraw certificates of deposit from both of the Trust’s banks. These products provide higher interest rates in exchange for locking one’s money away for a set period of time. The following is a rundown of the options at each financial institution.
Features | Minimum Opening Deposit | CD Terms (lock-up periods) | Interest Rates(APY) |
BB&T Checking Account | $1,000 | 7 days-60 months | 0.01% – 0.05% |
SunTrust Checking Account | $2,000 | 7 days-10 years | 0.05% – 2.30% |
Bank Experiences of Truist Bank
As previously stated, Truist continues to trade as BB&T and SunTrust. Customers are not able to identify a Truist bank branch or a Truist mobile app at this time.
As a result, to open and use an account, one must go to either BB&T or SunTrust.
Customers can reach either bank between the hours of 8 a.m. and 8 p.m. EST Monday through Friday and 8 a.m. to 5 p.m. EST on Saturday.
Mobile Apps for Online banking in Truist Bank
Depositors at both banks, like the banks themselves, will ultimately choose a Truist banking app. However, for the time being, they can also obtain their accounts through the BB&T or SunTrust mobile apps. SunTrust’s app has a 4.1 rating on Google Play and a 4.8 rating on the Apple app store, while BB&T’s app has a 4.7 rating on Google Play and a 4.8 rating on the Apple app store.
How to Set Up a Truist Bank Account?
Customers interested in opening a Truist account have two options. Those who can go to a BB&T or SunTrust location. They could also go to the BBT.com or SunTrust.com websites.
Is Truist Bank a safe place to put my money?
Yes, all three banks are FDIC-insured: BBT, SunTrust, and Truist. They also use bank-grade encryption on every one of their websites.
Final Thoughts of Romsdal
Truist is a transitional bank. To be sure, the fact that its two banks continue to operate as separate entities under the old names may cause some confusion. It may also cause customer service issues, as the BB&T division provides better terms to depositors.
Even so, because BB&T was the purchaser when the transition to Truist started, BB&T’s terms may have prevailed. Once Truist finishes the integration, a larger client base will be able to take advantage of the banking services required Truist to develop over time.