Truist Bank

Check full information about Truist Bank — review, rating in 2022. See detailed contact information, financial data, locations and list of branches.

Truist Bank
Detailed Truist Bank Rating
Address
214 N Tryon St Charlotte, NC 28202
FDIC Certificate ID
9846
Bank Charter Class
Federal Reserve Non-member

Detailed Truist Bank Rating

rating icon
4.13
Personal Loan Products
5
Average rate of personal loans products
Safety
4.7
The Moody’s rating for Truist Bank is A2 and the tier 1 leverage ratio is 7.95%
Customer experience
2.4
The Truist Bank mobile app has 1.6 stars on the App Store and 3.2 stars on Google Play.

Contacts

Demographic information

  • Institution Name
    Truist
  • Number of Domestic Offices
    2921
  • Full Time Employees
    49,354
  • Established Date
    1872-01-01
  • Primary Federal Regulator
    Federal Deposit Insurance Corporation
  • Date of Deposit Insurance
    1934-01-01
  • Bank Charter Class
    Federal Reserve Non-member
  • Primary Web Address
  • RTN/ABA
    53101121
  • LEI
    JJKC32MCHWDI71265Z06
  • Federal Reserve ID (RSSD-ID)
    852320
  • SNTRUS3A
  • 057000668

Branches near me

Financial data

All values USD, Dollar figures in thousandsAll Financial Data Truist Bank
516,783,000
452,329,000
420,078,000

Offers

Mortgage icon
Mortgage

Truist Bank General info Pros&Cons

Pros:
  • Can use SunTrust and BB&T ATMs for free. Truist customers can use SunTrust and BB&T ATMs without incurring any fee.
Cons:
  • Not fully established. The merger between BB&T and SunTrust has not yet been finalized.
  • Low customer service rating. Truist currently holds a customer service rating of 1.08 out of 5 stars on the Better Business Bureau website.

Truist Bank Checking and saving accounts Pros&Cons

Pros:
  • Earn rewards with your Truist debit card. Through Truist Deals, you get cash back when you spend with your debit card at eligible retailers. Plus, the bank is constantly adding deals, giving you more chances to earn.
  • Student checking available. Students who are 23 or younger are eligible for a free checking account.
  • Zelle. Customers have access to Zelle, which makes online personal payments quicker, safer and secure.
Cons:
  • Low interest rate. The APY for the regular savings account is 0.01%, which is lower than average (0.04%).

Truist Bank Credit cards Pros&Cons

Pros:
  • More cash back and rewards. The Truist Deals program also works with credit cards. Furthermore, you can earn more cash back through the bank’s rewards program.
  • Welcome bonus. You can get cash back or statement credit as a sign-up bonus on some cards, provided you meet the spending requirements within the allotted time from opening an account.
  • No foreign transaction fee. You can use Truist credit cards for foreign transactions without worrying about paying a fee.
  • 10% - 50% bonus. A 10% to 50% loyalty bonus is available for customers of either bank when their cash back is redeemed to their respective bank’s savings or checking accounts.
Cons:
  • You won’t find any co-branded cards. You have to look elsewhere if you’re looking to earn co-branded rewards.

Truist Bank Mortgage Pros&Cons

Pros:
  • Various mortgage products are available. You’ll find that Truist offers a range of mortgage types, including conventional, government-backed, low down payment and zero payment options.
  • Preapproval is available. Being preapproved for a mortgage means you can find out how much you can borrow without Truist running a hard credit check.
Cons:
  • Not all states can apply. Residents of Alaska, Arizona, and Hawaii cannot apply for a mortgage.
  • Lack of transparency on borrower requirements. You won’t find the minimum requirements for a mortgage application online.

Truist Bank Investment Pros&Cons

Pros:
  • Variety of trading options. You choose from a range of investment options to build your portfolio or use an advisor to do it for you based on your goals.
Cons:
  • Not for inexperienced self-investors. The lack of automated investing (e.g., robo-advisor) can be a barrier to entry for inexperienced investors.
  • You can’t trade crypto and futures. Truist Securities doesn’t offer cryptocurrencies and futures as trading assets.
  • Fees. When trading options, you pay a commission of (1.4702% x principal) + $41.38 per contract. Furthermore, the commission charge for equities starts at $35 + 2.0% of the principal. Most brokers will just charge you 1-2% of the principal.