Truist is a regional bank formed by merging BB&T and SunTrust in 2019
Truist Bank is a mid-sized bank headquartered in Charlotte, North Carolina. It was created in December 2019 when BB&T Corporation and SunTrust Banks merged their operations. The combined bank serves customers across the Southeast and Mid-Atlantic regions, with branches in states including North Carolina, South Carolina, Georgia, Florida, Virginia, Maryland, and Delaware, plus a presence in a few other states.
Truist operates as a full-service bank, meaning it offers checking and savings accounts, credit cards, loans, mortgages, investment services, and wealth management. It is a publicly traded company and is one of the largest banks by assets in the United States, though smaller than national giants like Bank of America or Wells Fargo.
The bank serves both individual customers and businesses. For individuals, Truist provides personal banking products. For businesses, it offers commercial lending, treasury services, and other corporate banking solutions.
Key Takeaways
- Truist Bank was formed in 2019 from the merger of BB&T and SunTrust, two regional banks with long histories in the Southeast.
- The bank operates primarily in the Southeast and Mid-Atlantic, with branches in states like North Carolina, South Carolina, Georgia, and Florida.
- Truist offers standard banking products: checking and savings accounts, credit cards, mortgages, personal loans, and investment services.
- You can access your Truist account online, through mobile apps, or at physical branches and ATMs in its service areas.
- Truist deposits are insured by the FDIC up to $250,000 per account type per depositor, the same protection as other banks.
What products and services Truist offers
Truist's product lineup mirrors what you would find at most regional banks. For deposit accounts, it offers checking accounts (including interest-bearing options), savings accounts, and money market accounts. The specific features, minimum balances, and interest rates vary by account type and change over time, so checking Truist's website or visiting a branch gives you current terms.
For borrowing, Truist provides personal loans, auto loans, home equity lines of credit, and mortgages. Credit cards are available through Truist, with different cards aimed at different customer needs—some offer cash back, others travel rewards. The bank also manages investment accounts and offers wealth management services for customers with larger portfolios.
Business customers can access commercial checking and savings accounts, lines of credit, equipment financing, and merchant services. Truist also offers treasury management tools for businesses that need to move money between accounts or manage payroll.
How to access Truist accounts and services
Truist customers can manage their money in multiple ways. The bank operates a network of physical branches where you can deposit checks, withdraw cash, and speak with a banker in person. ATMs are available at branches and at partner locations, though fees may apply at out-of-network machines.
Online banking through Truist's website lets you check balances, transfer money between accounts, pay bills, and deposit checks by phone camera (mobile check deposit). The Truist mobile app provides the same core functions on your phone. Customer service is available by phone, and some issues can be resolved through chat or email.
If you do not live in or near a Truist service area, you cannot open an account at a physical branch, though some online-only options may be available depending on your state. Truist is not a national bank like Chase or Bank of America, so its reach is limited to its operating regions.
FDIC protection and account safety
Truist is a member of the Federal Deposit Insurance Corporation (FDIC). This means deposits held in your name at Truist are insured up to $250,000 per account type per depositor. If Truist were to fail, the FDIC would reimburse you up to that limit.
Account types are insured separately, so you could have $250,000 in a checking account and another $250,000 in a savings account and both would be fully covered. Joint accounts are also insured separately—a joint account with your spouse would be insured up to $250,000 in addition to your individual accounts.
Truist uses standard security measures for online and mobile banking, including encryption and multi-factor authentication options. Like all banks, Truist is subject to federal banking regulations and regular audits.
How Truist differs from national banks
The main difference between Truist and national banks like Chase, Bank of America, or Wells Fargo is geography. Truist has deep roots in the Southeast and Mid-Atlantic but does not have branches everywhere. If you travel or move frequently across the country, a national bank with branches in all 50 states may be more convenient.
Truist's size also matters. As a regional bank, it may offer more personalized service in some cases—branch staff may know regular customers by name. However, it has fewer resources than the largest national banks, which can mean fewer specialized products or services in some areas.
Fees and interest rates at Truist are competitive with other regional and national banks, but they vary by product and account type. Comparing Truist's checking account fees to those of your current bank, or comparing mortgage rates, requires looking at current terms rather than assuming one is cheaper than the other.
What happened to BB&T and SunTrust after the merger
Before the 2019 merger, BB&T and SunTrust were separate banks with their own branch networks and customer bases. BB&T had roots going back to 1872 in North Carolina; SunTrust was founded in 1891 in Atlanta. Both were well-established regional banks in the Southeast.
When they merged, the two banks combined their operations under the Truist name. Some branch locations were consolidated or closed to avoid duplication. Customers of both banks were moved onto Truist systems, and old BB&T and SunTrust branded accounts were converted to Truist accounts. If you had an account at either bank before 2019, it is now a Truist account.
The merger was part of a broader trend in banking where regional banks combine to compete more effectively with national giants. Truist emerged as a stronger regional player, but it remains focused on its Southeast and Mid-Atlantic footprint rather than expanding nationwide.
How to contact Truist or open an account
To open a Truist account, you can visit a branch in person if you live in or near a Truist service area. You will need a government-issued ID and proof of address. Some accounts can be opened online or by phone, depending on your state and the account type.
Customer service phone numbers and branch locators are available on Truist's website. You can also reach Truist through its mobile app or online banking portal if you already have an account. For specific questions about products, fees, or your account, calling or visiting a branch usually gets you the fastest answer.
Frequently Asked Questions
Is Truist a safe bank?
Yes. Truist is a regulated bank subject to federal oversight and FDIC insurance protection. Your deposits up to $250,000 per account type are insured by the FDIC. The bank uses standard security practices for online and mobile banking.
Can I bank with Truist if I don't live in the Southeast?
Truist does not have branches outside its service areas in the Southeast and Mid-Atlantic. If you live elsewhere, you would need to use online banking and ATMs, which may be limited. A national bank with branches nationwide may be more convenient for you.
What is the difference between Truist and the old BB&T or SunTrust?
BB&T and SunTrust merged in 2019 to form Truist. If you had an account at either bank, it is now a Truist account. The products and services are similar, but systems and branding changed to reflect the combined entity.
Does Truist charge monthly fees on checking accounts?
Truist offers checking accounts with and without monthly fees. Some accounts have no monthly fee if you meet certain requirements, like maintaining a minimum balance or setting up direct deposit. Check Truist's current terms for the specific account you are interested in.
Can I deposit checks at Truist ATMs?
Yes, many Truist ATMs accept check deposits. You can also deposit checks through mobile check deposit using the Truist app, or deposit them at a branch in person. Deposited checks typically clear within one to two business days.