BB&T Review: Checking, Savings and CDs

BB&T offers an expanded ATM network as part of Truist Bank, but rates are low and overdraft fees are high.

Ruth SarrealDecember 15, 2020
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Overall bank rating

BB&T
  • Savings

  • Checking

  • CD rates

  • Banking experience

  • Overdraft fees

3.5

NerdWallet rating 

The bottom line: BB&T, now Truist Bank, serves more than a dozen states across the Eastern and Southern U.S. As part of the sixth-largest bank in the country, customers have access to thousands of free ATMs in the service area.

Pros

  • Highly rated mobile apps.

  • Flexible CD term options, including ultra short terms.

Cons

  • Low interest rates.

  • Steep overdraft fees.

Full review

BB&T eSavings

BB&T eSavings

3.5

NerdWallet rating 
APY

0.01%

With $1 minimum balance

BB&T’s eSavings account doesn’t require a minimum deposit to open or a minimum balance to keep the account. And unlike some other banks’ savings accounts, eSavings doesn’t charge a monthly maintenance fee. The account pays a  0.01% annual percentage yield, similar to many other large banks; you can find higher rates elsewhere, especially at online banks.

» Want more options? See NerdWallet’s favorite high-yield online savings accounts

BB&T Bright Banking

BB&T Bright Banking

3.0

NerdWallet rating 
Monthly Fee

$12.00

Waived with direct deposit or $1,500 minimum balance

The Bright Banking account charges a $12 monthly fee, which is on par with what national banks charge. But BB&T will waive the fee if your account balance averages $1,500 or if you have direct deposits of at least $500 per month. These requirements similar to what other banks', but some banks offer free accounts with no monthly fee at all.

A minimum deposit of $50 is required to open the account. You’ll get free access to more than 2,400 BB&T ATMs and free cash withdrawals, balance inquiries and transfers at more than 2,000 SunTrust ATMs.

» Compare NerdWallet’s best free checking accounts

BB&T CD

BB&T CD

1.5

NerdWallet rating 
1-year APY

0.01%

3-year APY

0.01%

5-year APY

0.01%

Minimum Deposit

$1,000

BB&T offers a range of CDs with several shorter-term options you won’t find at many other banks. You can open a CD for as few as seven days, or for as long as five years. The bank offers special CDs at seven-, 13- and 23-month terms, paying 0.05% APY.

The standard term CDs require a minimum deposit of $1,000 and pay 0.01% across the board. That rate is lower than what you’ll find from some bigger banks, and you can find much higher APYs on our list of best CD rates.

Banking experience

4.0

NerdWallet rating 

BB&T customer service is available by phone from 8 a.m. to 8 p.m. Monday through Friday, and 8 a.m. to 5 p.m. on Saturdays, Eastern time. You can also reach it via Twitter. The bank’s mobile apps for iOS and Android get 4.7 and 4.8 out of five stars, respectively. You can use the BB&T app to deposit checks, send or receive money, create a budget, set goals, and more.

Overdraft fees

2.0

NerdWallet rating 

The overdraft fee at BB&T is a hefty $36, which is similar to what other large banks charge. The bank can charge this fee up to six times per day — that’s $216. At that rate, overspending can quickly get expensive. Many banks have a lower maximum number of times the overdraft fee can be charged.

Not all banks charge for overdraft transfers, but at BB&T they’re available at the steep rate of $12.50 each. If your account is overdrawn for seven consecutive days, you’ll be subject to another $36 charge; not all banks charge for having a continuously negative balance.

BB&T eSavings

BB&T eSavings

3.5

NerdWallet rating 
APY

0.01%

With $1 minimum balance

BB&T’s eSavings account doesn’t require a minimum deposit to open or a minimum balance to keep the account. And unlike some other banks’ savings accounts, eSavings doesn’t charge a monthly maintenance fee. The account pays a  0.01% annual percentage yield, similar to many other large banks; you can find higher rates elsewhere, especially at online banks.

» Want more options? See NerdWallet’s favorite high-yield online savings accounts

How does BB&T compare?

NerdWallet rating 
NerdWallet rating 
APY

0.50%

With $0 minimum balance

APY

0.50%

With $0 minimum balance

Bonus

N/A

Bonus

N/A

RATING METHODOLOGY

NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.