SuperMoney
  SunTrust Bank Essential Savings Account
SunTrust Bank Essential Savings Account Claimed

SunTrust Bank Essential Savings Account

Claimed
in Savings Accounts from SunTrust Bank · Member FDIC
Not enough votes for recommendation

Not enough votes for recommendation

Explore a similar product
Try this top product in Savings Accounts.
CIT Bank Savings Builder
CIT Bank Savings Builder 21 reviews
Highlights
Monthly Fee $0
APY (Annual Percentage Yield) 0.01%
Minimum Balance to Earn APY $0.01

SunTrust Bank Essential Savings Account Review

SunTrust Bank Essential Savings Account is offered by SunTrust Bank, a bank founded in 1865 and based in Atlanta, GA. SunTrust Bank Essential Savings Account is available in 11 states (and Washington, DC).

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.01%.
  • $0 monthly fee. This account does not charge a monthly Service Charge.
  • No minimum initial deposit. There is no minimum balance required to open an account.
  • No ATM fees. SunTrust Bank Essential Savings Account does not charge fees on ATM transactions.
  • Bill pay. Pay your bills to practically anyone in the United States through SunTrust Bank.
SunTrust savings account Pros & Cons
Pros Cons
  • Interest-yielding account.
  • Access to physical branches.
  • No signup bonus.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
  • Only available in 11 states.
  • Higher than average wire transfer fees.
SunTrust savings account FAQ

Are savings accounts from SunTrust Bank federally insured?

Yes, your SunTrust Bank savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Does SunTrust Bank offer a signup bonus?

SunTrust savings account doesn't offer a signup bonus.

What is the minimum initial deposit for SunTrust savings account?

There is no minimum deposit to open a SunTrust savings account.
SunTrust Bank Essential Savings Account Minimums
Description
Minimum Balance to Earn APY $0.01
Minimum Opening Deposit Starting at $0

What APY does SunTrust Bank offer?

SunTrust savings account offers an APY of 0.01% (APY stands for annual percentage yield, rates may change).

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does SunTrust savings account charge?

SunTrust savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

  • Outgoing domestic bank transfers come with a $25 fee.
  • Outgoing international bank transfers come with a $50 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
  • SunTrust savings account charges a $25 fee for an early account closure. Contact SunTrust savings account for more details on what is considered an early closure.
  • SunTrust savings account charges $3 every time you request a paper statement.

What features and perks does SunTrust savings account offer?

This savings account includes the following features:

  • Check images with monthly statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks for each statement period.
  • Fraud monitoring - SunTrust savings account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
  • Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - SunTrust savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

Can you set up a direct deposit to SunTrust savings account?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for SunTrust savings account?

The customer support email for SunTrust savings account is hugh.suhr@suntrust.com.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 11 states and Washington, D.C.
  • Alabama
  • Arkansas
  • Washington, DC
  • Florida
  • Georgia
  • Maryland
  • Mississippi
  • North Carolina
  • South Carolina
  • Tennessee
  • Virginia
  • West Virginia

Feature Breakdown

Minimum Balance to Earn APY $0.01
Minimum Opening Deposit Starting at $0
Monthly Fee $0
Early Account Closure $25
International ATM Surcharge $5
Paper Statement Fee $3
Returned Deposit Fee (Domestic) $36
Wire Transfer Fee - Domestic (Outgoing) $25
Wire Transfer Fee - International (Outgoing) $50
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Driver License (or other photo ID)
Bauer Financial A+/A Rating
Account Features
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • Branch Access
  • Check Images with Statement
  • Fraud Monitoring
  • Free Bill Pay
  • Interest Bearing Account
  • Mobile Banking
  • Mobile Check Deposit
  • No ATM Fees
  • No Monthly Maintenance Fee
APY (Annual Percentage Yield) 0.01%

Be the first to rate

 

Would you recommend SunTrust Bank Essential Savings Account to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
(will require moderator approval)

SunTrust Bank Savings Accounts

Loading...