BB&T MoneyCard accounts do not convert to traditional checking accounts
A BB&T MoneyCard is a prepaid card product, not a checking account. It cannot graduate, upgrade, or transition into a checking account with BB&T (now Truist Financial Corporation after the 2019 merger). The two products operate on completely different systems — a prepaid card loads funds you add yourself, while a checking account draws on a bank account you hold at the institution.
If you have a MoneyCard and want a checking account, you need to open a separate checking product. Truist offers several checking options, and some may be easier to open if you already have a MoneyCard relationship with the bank.
Key Takeaways
- BB&T MoneyCard is a prepaid card that cannot convert into a checking account — they are separate products entirely.
- Opening a Truist checking account requires a new application and does not depend on having a MoneyCard first.
- Some Truist checking accounts have lower minimum balance requirements or reduced fees, which may suit your situation better than a prepaid card.
- You can keep your MoneyCard active while opening a checking account if you want both products.
How a prepaid card and a checking account work differently
A MoneyCard is a reloadable prepaid card issued by a third-party processor on behalf of BB&T. You load money onto the card yourself, either through direct deposit, bank transfer, or cash reload at a retail location. The card holds only the balance you put on it — there is no underlying bank account, no overdraft protection, and no check-writing capability.
A checking account is a deposit account held directly at Truist. Money you deposit becomes part of the bank's reserve, and you can withdraw it by check, debit card, ATM, or transfer. Checking accounts come with FDIC insurance (up to $250,000), overdraft options, and the ability to set up automatic bill payments and recurring transfers.
Because they are fundamentally different products, one cannot become the other. You would need to close the MoneyCard and open a checking account separately.
Opening a Truist checking account if you have a MoneyCard
You can open a Truist checking account through their website, at a branch, or by phone. You will need to provide identification (a driver's license or passport), your Social Security number, and proof of address. The bank will pull a ChexSystems report to check your banking history — this is standard for all new checking accounts, not specific to MoneyCard holders.
Having a MoneyCard does not waive any requirements or speed up the process, but it does show Truist that you have an existing relationship with the bank. Some applicants find this helpful when speaking with a representative, though it is not a formal advantage in the approval process.
Truist offers several checking tiers, including basic accounts with no monthly fee if you maintain a minimum balance (typically $500 to $1,500, depending on the account type) or set up direct deposit. Compare the options on Truist's website or ask a representative which account fits your needs.
What happens to your MoneyCard after you open checking
Your MoneyCard remains active unless you close it. You can keep both products open at the same time — there is no rule requiring you to choose one or the other. Some people maintain a prepaid card for specific purposes (like budgeting a set amount for groceries) while using a checking account for regular bills and paychecks.
If you decide you no longer need the MoneyCard, you can close it by contacting the card issuer or visiting a BB&T branch (now Truist). Spend or transfer any remaining balance before closing, as the card will no longer work once it is deactivated.
Reasons to switch from MoneyCard to checking
A checking account offers features a prepaid card does not. You can write checks, set up automatic bill pay, and receive FDIC-insured protection on your deposits. If you receive direct deposit, a checking account typically costs less per month than reloading a prepaid card repeatedly. Many employers and government agencies also prefer to send payments to a checking account rather than a prepaid card.
Prepaid cards do have advantages in some situations — they do not require a minimum balance, do not report to credit bureaus, and cannot overdraft. If you are rebuilding credit or prefer strict spending limits, a MoneyCard may still be useful alongside a checking account.
Checking your MoneyCard account status with Truist
If you are unsure whether your MoneyCard is still active or want to know the current balance, log into your account through the Truist mobile app or website, or call the customer service number on the back of your card. Truist acquired BB&T in 2019, so older MoneyCard accounts may have been migrated to Truist systems — your login credentials should still work, but the interface may look different.
If you cannot access your account online, visit a Truist branch with your card and ID. A representative can confirm the account status and help you decide whether to keep the card active or close it.
Frequently Asked Questions
Do I need a MoneyCard to open a Truist checking account?
No. You can open a Truist checking account without ever having had a MoneyCard. The two products are separate, and checking account approval does not depend on your prepaid card history.
Will opening a checking account close my MoneyCard?
No. Opening a checking account does not affect your MoneyCard. Both can remain active at the same time unless you choose to close the card yourself.
What if I have a negative balance or fee on my MoneyCard?
A negative balance on a prepaid card means you owe money to the card issuer. Resolve any outstanding balance or fees before closing the card. Contact Truist customer service to discuss payment options if you cannot pay the full amount immediately.
Can I transfer my MoneyCard balance to a checking account?
Yes. Once you open a checking account, you can transfer your MoneyCard balance to the new account through the Truist app or website, or by calling customer service. This does not close the card — you would need to close it separately if you no longer want it.
Is there a fee to open a Truist checking account?
Most Truist checking accounts have no opening fee, but some require a minimum deposit to activate. Monthly maintenance fees vary by account type — some accounts waive the fee if you maintain a minimum balance or set up direct deposit. Check the specific account terms before opening.