Yes, you can open a Truist savings account entirely online
Truist lets you open a savings account through their website or mobile app without visiting a branch. The process takes about 10 to 15 minutes and requires basic personal information, a valid ID, and a funding source. You'll have access to your account immediately after approval, though it may take one to two business days for transfers to fully process.
The entire transaction happens on your phone or computer. You won't need to speak to anyone or visit a location. Once your account is open, you can log in right away, set up transfers, and start earning interest on your balance.
Key Takeaways
- You can complete the entire account opening process on Truist's website or mobile app from your phone or computer.
- You'll need a government-issued ID, Social Security number, and an initial deposit method (debit card, bank transfer, or wire transfer).
- Your account opens instantly, but linked external bank accounts may take one to two business days to verify.
- Truist savings accounts have no monthly maintenance fee, but interest rates and minimum balance requirements vary by account type.
- If you're denied, Truist will tell you why and you can reapply after addressing the issue or contact their customer service for next steps.
What you need before you start
Gather these items before opening your account: a government-issued photo ID (driver's license, passport, or state ID), your Social Security number, and your current address. Truist will verify your identity using this information.
You'll also need a way to fund your account. You can use a debit card, transfer money from another bank account via ACH, or wire funds. If you're transferring from another bank, have that account number and routing number ready. The initial deposit amount varies—some Truist savings products require a minimum opening deposit while others do not, so check the specific account type before you begin.
Step-by-step process on Truist's website
Go to Truist.com and click the button to open a new account. Select "Savings" as your account type. You'll be asked to choose which specific savings product you want—Truist offers several, including a basic savings account and higher-yield options. Read the details for each to understand the interest rate, any minimum balance requirement, and monthly fees.
Enter your personal information: full name, date of birth, Social Security number, address, phone number, and email. Truist will ask you to create a username and password for online banking. Upload or photograph your ID—the system will guide you through this step. Verify your identity by answering security questions based on your credit history, which Truist pulls automatically.
Choose your funding method. If you're using a debit card, enter the card number and expiration date. If you're transferring from another bank account, enter the account number and routing number. Review the account terms and disclosures, then sign electronically. Your account opens immediately, and you'll receive a confirmation email with your account number.
Opening an account through the Truist mobile app
The mobile app process is nearly identical to the website. Download the Truist app, tap "Open an Account," and select savings. The app will walk you through the same identity verification and funding steps. One advantage of the app is that you can photograph your ID directly from your phone's camera, which some people find faster than uploading a file.
After you complete the application in the app, your account opens right away. You can view your account details, check your balance, and set up transfers immediately. If you need to link external accounts for transfers, those connections typically verify within one to two business days.
What happens after your account opens
Your savings account is active and ready to use as soon as you finish the application. You can log into online banking, set up automatic transfers, and begin earning interest on your balance. If you funded your account with a debit card, that money usually appears within one business day. ACH transfers from another bank typically take one to two business days.
If you linked an external bank account for transfers, Truist will verify it by sending two small deposits (usually under $1 each) to that account. You'll need to confirm the amounts in your external bank's system to complete the verification—this normally takes one to two business days. Once verified, you can transfer money freely between accounts.
Truist will mail you a debit card if your account type includes one, though not all savings accounts do. Check your account details or contact Truist to confirm whether your specific product includes a card. You can also use your account for online bill pay and peer-to-peer transfers through their app.
Reasons your application might be denied
Truist may deny your application if there's a problem with identity verification—for example, if your ID photo is unclear or your information doesn't match their records. They may also deny you if you have a history of fraud or unpaid fees at another bank, or if you appear on ChexSystems (a banking history report). If you're denied, Truist will send you a letter explaining the reason.
If the issue is identity verification, make sure your ID is current and clearly readable, and that your address matches what you entered. If the problem is ChexSystems, you can request your report directly from ChexSystems to see what's listed and dispute any errors. You can reapply after fixing the issue, or contact Truist customer service at 1-800-872-2657 to discuss your options.
Fees and interest rates
Truist savings accounts have no monthly maintenance fee. However, interest rates vary depending on which savings product you choose and your account balance. Truist offers tiered rates on some accounts, meaning higher balances earn higher interest. Check the current rates on Truist's website before opening, as they change periodically.
Some savings products have a minimum balance requirement to earn the advertised interest rate or to avoid a fee. If your balance falls below the minimum, you may earn a lower rate or pay a monthly charge. Review the specific terms for the account you're opening so you know what to expect.
Frequently Asked Questions
How long does it take to open a Truist savings account online?
The application itself takes 10 to 15 minutes. Your account opens immediately after you submit it. However, if you're funding it with a transfer from another bank, that money may take one to two business days to arrive, and external account verification can take the same timeframe.
Can I open a Truist savings account if I don't have a checking account?
Yes. You can open a savings account on its own without a checking account. However, you'll need a way to fund it—either a debit card or a transfer from an existing bank account elsewhere.
What if I don't have a government-issued ID?
Truist requires a government-issued photo ID to open an account online. If you don't have one, you can visit a Truist branch in person with alternative documents, though the branch may have different requirements. Call 1-800-872-2657 to ask what documents they'll accept.
Can I open multiple savings accounts with Truist?
Yes. You can open more than one savings account if you want to separate your money for different goals. Each account has its own number and can earn interest independently. There's no limit on the number of savings accounts you can hold.
What should I do if my online application times out?
If your session expires before you finish, start over from the beginning. Your information won't be saved, so you'll need to re-enter it. If you keep experiencing timeouts, try using a different browser or device, or call Truist at 1-800-872-2657 to open your account over the phone instead.