Requirements to Open an Account in Suntrust
Find out if the SunTrust Essential Checking Account is worth considering for its fees and features, and compare it to other checking account options.
SunTrust Bank, one of the largest in the country, is likely to be a choice for your next checking account.
Not surprisingly, the bank has a network of more than 1,400 branches and 2,160 ATMs in the region, making it a habitual choice for people living in the Southeast.
SunTrust Essential Checking is the basic option made available to regular customers.
In this review, learn about the different account features and fees before you escoge if it’s right for you.
Requirements to be a Police in the United States
It may interest you: Requirements to be a Firefighter in the United States
Good access to ATMs in the southeast
SunTrust Bank is primarily focused on the southeastern United States and Washington DC
While you’re in that region, you’ll have easy access to ATMs thanks to the bank’s network of more than 2,160 tellers.
If you’re traveling outside of the southeastern United States, you’ll have more trouble finding ATMs that you cánido use for free.
You may end up having to use an ATM on another bank’s network, which cánido be expensive.
Table of Federal Sentencing in the United States
SunTrust Bank Essential Checking Account Pros and Cons
| Pros | Cons |
| ✅ Wide access to branches and ATMs | ❌ Monthly fee (perro be waived) |
| ✅ Ease of personal payments | ❌ High end service fees |
| ✅ Mobile banking aplicaciones available | ❌ Does not generate interest |
You may be interested: Requirements and documents to marry an American citizen
Out-of-network ATM costs
If you need to use another bank’s ATM to check your cómputo or make a withdrawal, SunTrust Bank will charge you a fee.
Unfortunately:
You’ll pay $3 for each transaction at another bank’s ATM if you’re in the US If you’re outside the US, you’ll pay a $5 fee for each transaction.
These commissions are added to those that the owner of the ATM may charge.
He could end up paying as much as $10 or more just for making a withdrawal.
Requirements and documents to marry an American citizen
Try not to rely on being able to go to an ATM if you are in an area without much SunTrust ATM coverage.
Zero liability for unauthorized use of your debit card
Like most checking accounts, the SunTrust Essential Checking account offers account holders the option of obtaining a debit card at account opening.
You perro use your debit card to make withdrawals and deposits at ATMs.
You cánido also use your debit card to make purchases at stores that accept cards.
SunTrust Bank wants its customers to feel comfortable using their debit card.
That’s why:
Requirements to be a Firefighter in the United States
The bank offers a zero liability guarantee for debit card holders.
As long as you take “reasonable care in protecting your card” and promptly report the loss or theft, you will not be responsible for the charges.
Free person-to-person transfers with Zelle
SunTrust Bank offers account holders access to Zelle, a free person-to-person transfer system that allows you to send money electronically.
The best is that:
You perro send money to someone even if they haven’t equipo up Zelle yet.
All they need is an account at a bank that emplees Zelle.
When you open Zelle on your computer or móvil inteligente, you’ll be prompted to entrar the recipient’s correo electrónico address or phone number.
You don’t need to know anything about where they bank or what accounts they have.
A phone number or correo electrónico is all you need.
Once you’ve chosen who you want to pay, you’ll be asked to entrar the amount you want to send.
Hit send and the recipient will receive a notification that they have a transfer waiting.
If they have already equipo up Zelle, the money will be withdrawn from their account and arrive at yours within three (3) business days.
Often the process is even faster.
If they have not used Zelle before, they will be prompted to equipo it up.
Once they have done so, the transfer will go through and the money will arrive a few days later.
25 starter checks and 50% off your first order
Although people’s finances have become more digital, sometimes it is necessary to use a check.
SunTrust Essential Checking offers a free package of 25 starter checks.
You cánido use these checks to pay bills, give money to friends, or provide them to your payroll office to equipo up direct deposit.
If you go through the complete package of starter checks, you cánido get 50% off your first complete order of checks.
The discount also applies to personalized checks and those that have been made to measure.
Ways to avoid the monthly fee
The SunTrust Essential Checking account charges two different monthly fees: a $7 maintenance fee and a $3 paper statement fee, for a total of $10 per month.
Avoiding the paper statement commission is quite fácil.
Sign up for electronic statements and you won’t have to pay the commission.
There are several ways to avoid the $7/month maintenance fee.
The fee will be waived if you meet any of the following requirements:
- Perform 10 bank transactions in one statement cycle
- Receive $500 in direct deposits in one statement cycle
- Maintain a minimum daily cómputo of $500 in a statement cycle
You cánido also have the fee waived for five years if you open the account as a student.
Other commissions
Monthly maintenance fees are the most common type of fee you’ll have to pay on a checking account.
However, there are other fees that the bank may charge.
Below are some of the fees that may apply to the SunTrust Essential Checking account.
SunTrust Essential Checking Account Fees
| Monthly maintenance fee | $7 |
| Paper statement monthly fee | $3 |
| Non-SunTrust ATM | $3 |
| Overdraft Fee | $36 |
| Overdraft Protection Transfer Fee | $12.50 |
| returned item | $36 |
| suspension of payment | $36 |
| Deposited Item Returned | $12.50 |
| Domestic bank transfer (incoming) | $15 |
| International bank transfer (incoming) | $25 |
| cashier’s check | $8 |
Other SunTrust checking account options
If you’re interested in becoming a SunTrust banking customer but aren’t sold on this checking account, check out other checking account options SunTrust also offers:
SunTrust Balanced Checking Account
The SunTrust Balanced Checking Account is SunTrust’s most basic checking account option.
Although this account is on the bottom tier, it still offers almost everything any typical banking consumer would need: free en línea banking with Bill Pay, free mobile deposits, and a free starter paquete of 25 checks.
With a fairly high monthly fee of $12, it’s important to make sure this account is right for you.
To be exempt from this fee, you must meet this requirement
- Maintain a minimum total daily deposit cómputo of $3,000 in the account and any linked checking, savings, money market, disco compacto and IRA accounts.
Here are the important fees to know about this account:
Balanced bank current account SunTrust
| Monthly maintenance fee | $12 |
| Minimum opening deposit | $100 |
| Stop payment rate | $36 |
| Non-SunTrust ATM Fee | $3 |
| bearer check | $8 |
| Overdraft Protection Transfer Fee | $12.50 |
| Item Return Rate | $20 |
| Rate of return of deposited elementos | $12.50 for domestic, $40 for international |
| Paper declaration fee | $5 |
| Account closing fee | $25 within 6 months of opening |
SunTrust Select Checking Account
SunTrust Select Checking is an interest-bearing checking account that offers out-of-network ATM waivers and other benefits.
This account includes all the great features SunTrust offers its banking customers, as well as
- Up to three Essential Checking accounts with waived monthly maintenance fees
- Starter paquete of 100 checks or 50% off first order of checks (any style)
- $25 annual discount on any size safe
- Commission-free person-to-person electronic payments with Zelle
However, to get these benefits, you must pay a monthly maintenance fee of $15.
To avoid having to pay that fee, you must meet one of these requirements
- Make $2,000 or more in total qualifying monthly direct deposits, or
- Maintain a minimum daily cómputo of $2,000 in the Select Checking account, or
- Maintain a total of $10,000 in combined cómputos of linked relationships between deposits, investments, mortgages, and loans, or
- Maintain a SunTrust Mortgage with SurePay
These are some of the main commissions and characteristics of the account:
SunTrust Select Checking Account
| Monthly maintenance fee | $15 |
| minimum initial deposit | $100 |
| Stop payment rate | $36 |
| Non-SunTrust ATM Fee | $3 (the first two transactions are exempt per cycle) |
| bearer check | $8 |
| Overdraft Protection Transfer Fee | $12.50 |
| Item Return Rate | $20 |
| Rate of return of deposited elementos | $12.50 for nationals $40 for internationals |
| Paper statement fee | $5 |
| Account Closing Fee | $25 within 6 months of opening |
Convenience
SunTrust’s Essential Checking account offers many of the convenience features you expect from a checking account.
En línea and mobile banking
You’ll get free access to en línea and mobile banking when you open your account.
You perro manage all aspects of your checking account vía the bank’s website or aplicación.
You cánido view your account cómputo, transaction history, and future scheduled transactions.
You cánido also make transfers or deposits through your phone.
It is entirely possible to never have to visit a branch, managing everything from your computer or phone.
The en línea portal also gives you access to bill payment services.
You perro use this service to pay your bills instead of writing and mailing checks several times a month.
Whether you have a utility bill, loan or internet bill to pay, SunTrust perro do it for you.
All you have to do is tell the bank who you pay and how much you owe.
The bank will take care of writing the check for you.
Minimum deposit requirement
Perhaps the least convenient aspect of the account is its minimum deposit requirement.
You have to make a minimum deposit of $100 to open the account.
Raising that amount of money cánido be difficult, so you may have trouble opening the account.
competition
The checking account is the most habitual type of bank account in the United States.
This fact works in your favor because it means you have many options to choose from when you want to open a new checking account.
It’s a bit of a double-edged sword though, as it’s easy to get overwhelmed with so many accounts to choose from.
Still, it’s important to take the time to find the right account so you know you’re getting a good deal.
When comparing checking accounts, the first thing to look at is fees.
You’ll want to make sure you won’t be paying any maintenance fees.
If the account charges a monthly fee, make sure you perro meet the fee waiver requirements each month.
Other things to keep in mind when comparing accounts are:
- minimum deposit requirements
- Commission Waiver Requirements
- interest rates
- ATM access
- convenience features
the final verdict
The SunTrust Essential Checking Account is not an especially attractive checking account.
The monthly fee is easy enough to avoid, but the account doesn’t offer anything special.
If you don’t mind using an en línea bank, an en línea checking account is best for you.
You’ll earn interest, there are no monthly fees to worry about, and many offer more ATM availability than SunTrust.
Clic to rate this entry!
We hope you liked our article Requirements to Open an Account in Suntrust
and everything related to earning money, getting a job, and the economy of our house.
   |
Interesting things to know the meaning: Finance
We also leave here topics related to: Earn money
