If opened online, there is a $50 minimum opening deposit, but no requirement when opened in person at a SunTrust branch. Youth Advantage Savings accounts carry no monthly fee until the child reaches the age of 18. Account funds can only be used for the child’s benefit. This version is considered an irrevocable gift to a child that’s transferred to them when they reach the age of majority for their state. This version requires an adult co-owner and is meant to teach children and teens about managing money. Youth Advantage Savings is available in two variations: SunTrust also offers savings accounts for kids. There’s a $3 fee for paper statements, which you can avoid by signing up for online paperless statements. With this account, you can track savings goals with balance alerts and make automatic transfers from a SunTrust checking account.
Current savings account interest rates aren’t available online. You’ll need to maintain a minimum account balance of $0.01 to avoid closure, but, other than that, there are no account requirements. Essential Savings is a basic savings account with no monthly fee and no minimum opening balance. SunTrust Bank offers two primary savings accounts: Essential Savings and Youth Advantage Savings.Įssential Savings. Read More: Best Checking Accounts Of 2023 Savings As with Essential Checking, there’s a $36 overdraft fee. Other perks with this account include a 100-pack of SunTrust customer checks, no-fee money orders and a $25 discount on any size safe deposit box. This checking account currently pays 0.01% APY on all balances. Have a linked SunTrust small business checking account, lending account or credit card.Maintain $10,000 total combined balances between linked deposit and investment accounts.Receive $3,000 in total monthly qualifying direct deposits.It comes with a 50% credit card loyalty cash bonus and an optional Delta SkyMiles Debit Card ($25 annual fee).Īdvantage Checking carries a $20 monthly maintenance fee, waived in of the following three ways: This tier is for balances above $100,000. It comes with a 25% credit card loyalty cash bonus and an optional Delta SkyMiles Debit Card ($75 annual fee). This tier is for balances between $25,000 and $100,000. It comes with a 10% credit card loyalty cash bonus and an optional Delta SkyMiles Debit Card ($95 annual fee). This tier is for balances of $0 to $25,000. This account is an interest-bearing checking account with three tiers of benefits based on your account balance: The overdraft fee is steep-$36.Īdvantage Checking. There’s a $3 paper statement fee, which you can avoid by signing up for paperless online statements. This account also includes person-to-person electronic payment through Zelle. Other account perks include a starter pack of checks and a 10% loyalty bonus when you redeem rewards earned with a SunTrust Cash Rewards credit card for cash back to your checking account. Open the account as a student, for which you’ll receive a waiver for five years.Maintain a $500 minimum daily collected balance.Receive $500 or more in total qualifying direct deposits.Make 10 or more client-initiated transactions per statement.
The account carries a monthly fee of $7, but that fee can be waived if you meet one of the following requirements: A deposit of at least $100 is required to open this account. Essential Checking is a basic checking account designed for everyday banking. Below are the details of these accounts.Įssential Checking. SunTrust Bank offers two checking accounts for consumers: Essential Checking and Advantage Checking. Account details and annual percentage yields (APYs) are accurate as of Nov. This review focuses on SunTrust Bank’s personal banking services.
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For the purposes of this review, we used a Charlotte ZIP code of 28202. SunTrust has been headquartered in Atlanta, but is moving to Charlotte, North Carolina, under the merger. SunTrust’s product details, rates and fee information may vary by location. You can open an account online with SunTrust even if you don’t live in a state where it has a branch presence. SunTrust mainly has branches in the Southeast, but its merger with BB&T to form Truist may expand its footprint. SunTrust has been a Georgia-based home to a host of banking and financial products and services for consumers, small businesses and corporate and commercial clients. As described below in About SunTrust, Now Truist, SunTrust is still operating under its own name until early 2022. Editor’s Note: In December 2019, BB&T and SunTrust completed a merger of equals to become Truist Bank, headquartered in Charlotte, North Carolina.
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