Do you want to learn about all the features of the student checking account at Truist Bank? At Responsible Economy, we present you with all the details of the student account at Truist Bank and compare it to the best student checking accounts you can open in the United States. Let’s get started!
Features
In this section, we show you all the features.
Fees
The Monthly Maintenance Fee (MMF) for the Truist Student Checking account is automatically waived for each statement cycle when the client is 23 years old or younger, or before reaching the graduation date provided to the bank (whichever comes later).
Interest rate
This account does not offer any type of interest for the money you have saved. If you want an account that generates interest, take a look at the best savings accounts.
Wire transfers
Truist Bank does not provide information about fees for bank transfers.
Minimum deposit
There is no need to make any minimum deposit to open the account.
ATMs
Here is a list outlining all the conditions Truist Bank offers for withdrawals from the student account:
- Truist Student accounts receive two non-Truist ATM fee waivers per statement cycle.
- $5 per transaction at non-Truist ATMs outside the U.S.
- 3% international POS & 3% ATM and assessment per transaction.
- Non-Truist ATMs may charge additional fees.
Bonus
Truist Bank does not offer any welcome bonus.
Overdraft service
Truist Bank does not offer overdraft service, so all payments that would result in a negative account balance will be declined.
Summary table
We have created a summary table with all the features we analyzed in the previous section:
| Feature | Details |
|---|---|
| Fees | $0 up to 25 years old |
| Interest Rate | 0% APY |
| Wire Transfers | Domestic – Incoming $0. Domestic – Outgoing $30. International – Outgoing $50. |
| Minimum Deposit | $25 |
| ATMs | Two non-Truist ATM fee waivers per statement cycle |
| Bonus | $0 |
| Overdraft Service | No |
Comparison best student checking accounts
We have conducted a comparison of the Truist Bank Student Checking accounts with the best student checking accounts you can open in the United States:
- It is very easy to avoid monthly commissions.
- Welcome bonus of 100 dollars fulfilling conditions.
- More than 16,000 ATMs in the United States.
- $25 minimum deposit.
- Very low interest rates.
- It is very easy to avoid monthly commissions.
- $0 welcome bonus.
- More than 70,000 ATMs in the United States.
- $0 minimum deposit.
- Very low interest rates.
- $0 fees up to 23 years old.
- $0 welcome bonus
- Two withdrawals free
- $0 minimum deposit
- Very low interest rates
- $0 Annual fees
- $0 welcome bonus
- ATMs free: BMO and Allpoints
- $0 minimum deposit
- Very low interest rates
- Easy to avoid monthly commissions
- $0 welcome bonus
- ATMs free: U.S. Bank
- $0 minimum deposit
- Very low interest rates
- Easy to avoid monthly commissions
- $0 welcome bonus
- ATMs free: TD Bank
- $0 minimum deposit
- Very low interest rates
- No monthly fees
- $0 welcome bonus
- More than 70,000 ATMs in the United States
- $0 minimum deposit
- High interest rates.
- It is very easy to avoid monthly commissions
- $0 welcome bonus
- fulfilling conditions
- More than 60,000 ATMs in the United States
- $25 minimum deposit ($0 online)
- Very low interest rates
- It is very easy to avoid monthly commissions
- No welcome bonus
- More than 16,000 ATMs in the United States
- $100 minimum deposit
- No welcome bonus
- High interest rates if you have a lot of savings
- It is very easy to avoid monthly commissions
- Nearly 12,000 ATMs
- $25 minimum deposit
- Welcome bonus of 300 dollars fulfilling conditions
- High interest rates on CDs
Requirements
These are the requirements to open the student account at Truist Bank:
- Being a student.
- Reside in the United States.
- Have a Social Security number.
- Have an American phone number.
Pros and cons
Now that we have reviewed the features and explored the best student checking accounts, we have created a table outlining all the advantages and disadvantages:
| Pros | Cons |
|---|---|
| $0 fees up to 23 years old | 0% APY |
| two non-Truist ATM fee waivers per statement cycle | |
Conclusion and opinions
After conducting our analysis, we conclude that the Truist Bank Student Checking account may not be competitive due to the following reasons: it is fee-free only until the age of 23, it does not offer any interest, lacks information about bank transfers, and lacks a welcome bonus. However, for new students, there are no fees, you can use the Zelle service, and you have 2 fee-free withdrawals per month at any ATM.
Truist Bank interest information
We have created a table with relevant information about Truist Bank:
| Information | Description |
|---|---|
| Website | https://www.truist.com/ |
| https://www.facebook.com/truist | |
| https://twitter.com/TruistNews | |
| https://www.instagram.com/truist | |
| https://www.linkedin.com/company/truistfinancialcorporation/ |
Frequent questions
If you still have any questions, here we provide answers to all your inquiries.
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Updated the day 1 September, 2023 by Alfredo Barandiarán
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