Truist Bank Truist One Savings Accounts

Truist Bank Truist One Savings Accounts Review

Truist Bank Truist One Savings Accounts is offered by Truist Financial Corporation, a bank founded in 2019 and based in Charlotte, NC. Truist Bank Truist Savings Accounts are available in 50 states (and Washington, DC).

Key Takeaways

• Low interest rate. The maximum annual percentage yield for this account is only 0.01%.
• Monthly maintenance fee waiver. Maintain a minimum daily ledger balance1 of $300 or schedule a recurring preauthorized internal transfer of $25 or more per statement cycle into the Truist One Savings Account or waived for a minor under the age of 182 or waived with ANY related3 Truist checking product.

Truist Bank Truist Savings Accounts Pros & Cons

Pros	Cons
Available in all 50 states. Interest-yielding account.	Does not offer mobile check deposits. Does not provide access to a nationwide ATM network. Does not come with a debit card Monthly service charge. No signup bonus.

Truist Bank Truist Savings Accounts FAQ

Are savings accounts from Truist Financial Corporation federally insured?

Yes, your Truist Financial Corporation savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #9846). 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 Truist Financial Corporation offer a signup bonus?

Truist Bank Truist Savings Accounts doesn't offer a signup bonus.

What is the minimum initial deposit for Truist Bank Truist Savings Accounts?

The minimum deposit to open a Truist Bank Truist Savings Accounts is $50.

Truist Bank Truist One Savings Accounts Minimums

Description
Minimum Balance to Avoid Monthly Fee	Starting at $300
Minimum Opening Deposit	Starting at $50

What APY does Truist Bank Truist One Savings Accounts offer?

Truist Bank Truist Savings Accounts 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 Truist Bank Truist Savings Accounts charge?

Truist Bank Truist Savings Accounts does not charge a monthly service fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fees if you have a minimum daily balance of $300.

• Truist Bank Truist Savings Accounts charges $3 every time you request a paper statement.

Can you set up a direct deposit to Truist Bank Truist Savings Accounts?

Yes, you can typically set up a direct deposit to this account. 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 Truist Bank Truist Savings Accounts?

The customer support email for Truist Bank Truist Savings Accounts is clientresolution@truist.com.