Overdraft fees can be a significant financial burden for bank account holders. Truist Bank, formerly known as BB&T, has implemented a new overdraft policy that aims to reduce these fees for its customers. This article will explore Truist’s overdraft policy, including fees, limits, and strategies for avoiding overdrafts.
Key Facts
- BB&T is now known as Truist Bank.
- Truist Bank offers a Truist One Checking account.
- Truist Bank provides a Loyalty Bonus program for certain credit card holders who also have a Truist One Checking account.
- The specific overdraft limit for BB&T/Truist Bank accounts is not mentioned in the search results.
- It is advisable to refer to the official Truist Bank website or contact their customer service for the most accurate and up-to-date information regarding overdraft limits.
Overdraft Fees and Limits
Truist Bank has eliminated overdraft fees for its Truist One Checking account. However, some other account types may still be subject to overdraft fees of $36 per transaction, with a maximum of three transactions per day. The maximum amount that Truist will allow customers to overdraft is at the bank’s discretion and can vary based on factors such as account balance, account history, and pending transactions.
Opting In for Overdraft Protection
Truist offers an optional overdraft protection program that allows customers to link their checking account to another product, such as a credit card, money market account, or another checking account. If the customer overdraws their checking account, Truist will automatically transfer funds from the linked account to cover the overdraft.
Avoiding Overdraft Fees
There are several strategies that customers can employ to avoid overdraft fees:
- Sign up for overdraft protectionThis program ensures that funds are available to cover overdrafts, eliminating the risk of fees.
- Use a no-fee overdraft appApps like Chime and Albert offer no-fee cash advances that can help customers cover small expenses without incurring overdraft fees.
- Use a cash advance appFor larger expenses, cash advance apps like PockBox allow customers to borrow up to $2,500, which can help avoid overdraft fees on significant purchases.
- Monitor account balanceRegularly checking account balances helps customers avoid overspending and incurring overdraft fees.
- Set up overdraft alertsTruist offers overdraft alerts that notify customers when their account balance is low, helping them avoid overdrafts.
Conclusion
Truist Bank’s overdraft policy has evolved to reduce fees for its customers. By eliminating overdraft fees on its Truist One Checking account and offering overdraft protection and avoidance strategies, Truist is helping customers manage their finances more effectively. It is important for customers to understand their overdraft limits and fees, and to take steps to avoid overdraft charges whenever possible.
Sources
- Truist One Checking Account
- Truist Overdraft Fees, Limits, and Protection
- What is the BB&T daily overdraft limit?
FAQs
Truist Bank Overdraft Policy: Fees, Limits, and Avoidance Strategies
Introduction
Overdraft fees can be a significant financial burden for bank account holders. Truist Bank, formerly known as BB&T, has implemented a new overdraft policy that aims to reduce these fees for its customers. This article will explore Truist’s overdraft policy, including fees, limits, and strategies for avoiding overdrafts.
Overdraft Fees and Limits
Truist Bank has eliminated overdraft fees for its Truist One Checking account. However, some other account types may still be subject to overdraft fees of $36 per transaction, with a maximum of three transactions per day. The maximum amount that Truist will allow customers to overdraft is at the bank’s discretion and can vary based on factors such as account balance, account history, and pending transactions.
Opting In for Overdraft Protection
Truist offers an optional overdraft protection program that allows customers to link their checking account to another product, such as a credit card, money market account, or another checking account. If the customer overdraws their checking account, Truist will automatically transfer funds from the linked account to cover the overdraft.