A money market account (MMA) is a type of bank account that typically offers competitive rates, like a high-yield savings account, plus popular features of a checking account, like a debit card and check-writing privileges. Truist is also home to the Truist One Money Market Account. It requires a minimum opening deposit of $25. This account earns interest and charges no monthly fees or overdraft fees. This basic savings account is designed to be paired with the Truist Confidence Account, a checking account designed for people who can’t qualify for standard bank accounts. It charges a $5 monthly fee to account holders age 18 or older, but this fee can be easily waived by holding an eligible Truist checking account, maintaining a minimum daily balance of $300 or scheduling a preauthorized internal transfer of at least $25 per statement cycle. Truist’s main savings account earns minimal interest (a 0.01% APY) and requires a minimum opening deposit of $50. Truist offers two primary savings accounts for its customers: Truist One Savings and Truist Confidence Savings. It charges a $5 monthly fee that can be waived if you receive at least $500 in direct deposits per statement cycle, make 10 or more qualifying transactions per statement cycle or are a student under the age of 25. This account has limited features, such as no paper checks, and requires a minimum opening deposit of $25. This is Truist’s second-chance bank account, designed for people who have trouble qualifying for a standard checking account. This account charges no overdraft fees, offers a $100 Negative Balance Buffer and comes with additional perks-like a loyalty bonus on credit card rewards and ATM fee waivers-as your balance grows. Have a personal Truist credit card, mortgage or qualifying loan.Open and link a Truist small business checking account.Maintain a combined balance of at least $500 across all Truist deposit and investment accounts.Receive at least $500 in direct deposits per statement cycle.With Truist One Checking, you can get the $12 monthly fee waived by meeting one of the following requirements: After the merger, this became Truist’s flagship checking account. Truist offers two checking accounts to meet varying customer needs: Truist One Checking and Truist Confidence Account. The primary bank account for transactions is your checking account. Account details and annual percentage yields (APYs) are accurate as of June 6, 2023. This review focuses on Truist’s personal banking services. We used North Carolina for the purposes of this review, as that’s where the bank is headquartered. This guarantee may be modified or discontinued at any time.Truist Financial product details, rate and fee information may vary by location. Certain payments are not covered by this guarantee. You must contact us and provide the information necessary in order for us to review and provide reimbursement as applicable. We will reimburse you for any fees associated with a check payment that settles prior to the date you selected in Online Bill Pay. If a mistake is made by the Online Bill Pay Service, resulting in a late payment, we may also bear the responsibility for your direct losses or damages. Should a payment post to your account with the biller after the date that it was scheduled, we will bear the responsibility for late payment fees and interest charges accrued between the scheduled date and the date when the bill is paid. As long as your payment is scheduled in accordance with the guidelines described in the Online Bill Pay Service section of the Online Banking Service Agreement, we will reimburse you for any applicable fees charged if the payment settles earlier or later than the date you select.
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