Truist checking accounts have no monthly minimum balance requirement
Truist does not require you to keep a minimum balance in any of its checking accounts to avoid a monthly fee. You can open an account, deposit money, spend it, and let the balance drop to zero without triggering a service charge. This applies to their standard checking products: Truist One Checking, Truist Everyday Checking, and Truist Student Checking.
However, the absence of a minimum balance requirement does not mean the account is free to maintain. Truist charges a monthly service fee on most checking accounts unless you meet one of their waiver conditions. The fee itself ranges from $10 to $15 per month depending on the account type, but you can avoid it by setting up direct deposit, maintaining a linked savings account, or meeting other specific requirements that vary by account.
Key Takeaways
- Truist checking accounts do not require you to maintain a minimum daily or monthly balance to keep the account open.
- Most Truist checking accounts charge a monthly service fee of $10 to $15, but this fee can be waived through direct deposit or other conditions, not through balance requirements.
- The monthly fee waiver conditions depend on which Truist checking product you hold, so you should confirm the specific waiver terms for your account type.
- Falling below a minimum balance will not close your account or trigger overdraft fees on its own, but spending more than you have will.
How Truist avoids minimum balance fees but charges for account maintenance
The distinction between a minimum balance requirement and a monthly service fee matters because they work differently. A minimum balance requirement means you must keep a certain amount in the account at all times or pay a penalty. Truist does not have this. A monthly service fee is a flat charge that appears on your statement each month unless you meet conditions to waive it.
Truist's checking accounts are structured around fee waivers rather than balance thresholds. For example, Truist One Checking waives its $12 monthly fee if you set up direct deposit of at least $500 per month, or if you maintain a linked Truist savings account with a $500 balance. The savings account balance requirement is separate from your checking account—you are not required to keep $500 in checking itself.
If you do not meet any waiver condition, the monthly fee will post to your account. You can still operate the account with a zero balance; the fee simply reduces your balance further, potentially triggering an overdraft if you have overdraft protection enabled.
Fee waiver conditions for different Truist checking products
Truist offers multiple checking account types, and the fee waiver conditions differ by product. Truist One Checking, their primary product, waives the $12 monthly fee through direct deposit, a linked savings account with $500, or maintaining a $5,000 minimum balance in checking itself. Truist Everyday Checking has a $10 monthly fee waived by direct deposit or a linked savings account with $500. Truist Student Checking has no monthly fee for students under 25.
The balance-based waiver on Truist One Checking ($5,000 minimum in checking) is the only scenario where Truist actually requires you to maintain a balance to avoid a fee. For most customers, the direct deposit or linked savings waiver is easier to meet. If you receive a paycheck via direct deposit, the fee is waived automatically. If you do not receive direct deposit, opening a linked savings account and depositing $500 once will waive the fee indefinitely.
These terms can change, so confirm the current waiver conditions for your specific account by logging into Truist Online or calling 1-800-872-2657. Your account statement also lists the conditions under which your monthly fee is waived.
What happens if your balance goes negative
Truist does charge overdraft fees when you spend more money than you have in your account. The overdraft fee is typically $35 per transaction, and it applies whether your balance is $1 or $0. This is separate from the monthly service fee and is triggered by spending, not by failing to maintain a balance.
You can opt out of overdraft protection, which means transactions will be declined if you do not have sufficient funds. This prevents overdraft fees but also means your debit card or checks will not go through. Most customers keep overdraft protection on to avoid declined transactions, but this means you need to monitor your balance to avoid the $35 fee.
Comparing Truist checking to other banks with no minimum balance
Many banks have eliminated minimum balance requirements in recent years. Ally Bank, Charles Schwab, and Discover Bank all offer checking accounts with no minimum balance and no monthly fee. Capital One 360 and Axos Bank also have no-fee, no-minimum checking. If you are comparing Truist to these options, the key difference is that Truist charges a monthly fee unless you meet a waiver condition, while these competitors do not charge a monthly fee at all.
If you already have direct deposit or a linked savings account with Truist, the monthly fee is waived and Truist becomes cost-equivalent to these competitors. If you do not have either, you would pay $10 to $15 per month to keep a Truist checking account open, whereas you would pay nothing at a no-fee bank. The choice depends on whether you value Truist's branch network, customer service, or other features enough to justify the fee.
How to confirm your account's fee waiver status
Log into Truist Online or the Truist mobile app and navigate to your checking account details. The account summary page typically displays the monthly fee amount and the conditions under which it is waived. Your monthly statement also lists the fee and any waivers that applied that month.
If you are unsure whether you meet a waiver condition, contact Truist directly at 1-800-872-2657 or visit a local branch. A representative can confirm whether your direct deposit is being recognized, whether your linked savings account balance qualifies, or what other steps you need to take to waive the fee. This is especially important if you recently changed employers or closed a savings account, as waivers can stop working if the underlying condition is no longer met.
Frequently Asked Questions
Can I open a Truist checking account with $0 and keep it open?
Yes, you can open an account with any amount and maintain a zero balance without the account being closed. However, if you do not meet a fee waiver condition, the $10 to $15 monthly service fee will post to your account each month, making your balance negative unless you deposit money to cover it.
What is the difference between a minimum balance requirement and a monthly service fee?
A minimum balance requirement means you must keep a certain amount in the account at all times or pay a penalty. Truist does not have this. A monthly service fee is a flat charge that posts each month unless you meet conditions to waive it, such as direct deposit or a linked savings account.
If I have direct deposit, is the monthly fee automatically waived?
Yes, if your employer deposits at least $500 per month via direct deposit into your Truist checking account, the monthly service fee is waived automatically. You do not need to do anything after setting up the direct deposit; the waiver applies each month as long as the deposits continue.
Will my account close if I do not maintain a minimum balance?
No, Truist will not close your account for failing to maintain a balance. However, if you do not meet a fee waiver condition and do not deposit money to cover the monthly fee, your balance will go negative, which may trigger overdraft fees if you attempt to spend more.
Can I waive the monthly fee by keeping $5,000 in my checking account?
Only on Truist One Checking. This account offers a $5,000 minimum balance waiver as one of three options (the others being direct deposit or a linked savings account). Other Truist checking products do not have a balance-based waiver option.