SunTrust Bank Review: Checking, Savings and CDs
SunTrust Bank offers customers access to about 1,200 SunTrust branches in the Southeast, though its merger with BB&T to form megabank Truist will likely offer many more options. Rates on savings accounts and CDs are low.
Overall bank rating

Savings
Checking
CD rates
Banking experience
Overdraft fees
3.5
The bottom line: SunTrust Bank is merging with BB&T to form a new bank, Truist. It is the sixth-largest bank in the country. SunTrust is keeping its own branding for now, however, and customers have access to about 1,200 SunTrust branches in the Southeast. As with many large banks, rates on deposit accounts are low.
Pros
Highly rated mobile apps.
Access to more than 2,000 SunTrust ATMs, and cash-withdrawal privileges at BB&T ATMs.
Savings account has no monthly fee if you opt for e-statements.
Cons
High overdraft fees.
Low rates on savings products.
Full review

SunTrust Essential Savings
3.5
NerdWallet ratingAPY
0.01%
With $0 minimum balance
The Essential Savings account has no monthly fee if you sign up for electronic statements, and there’s also no minimum opening deposit requirement. But you can find other savings accounts that offer the same benefits and earn much higher interest rates.
» Want to see more options? Check out NerdWallet’s best savings accounts

Essential Checking
3.5
NerdWallet ratingMonthly Fee
$7.00
Waived with $500 minimum balance
SunTrust’s Essential Checking account has a $7 monthly fee, but it’s easy to waive. To avoid the charge, you either need to initiate at least ten transactions each statement cycle, have $500 or more in qualifying direct deposits (say, from a paycheck) per cycle or keep a minimum $500 daily collected balance. You can also open an account as a student and have fees waived for up to five years. That said, other banks offer checking accounts that don’t charge monthly fees.
Customers have access to 2,000 SunTrust ATMs, and can withdraw cash from an additional 2,400 BB&T ATMs with no ATM fees. Essential Checking does not earn interest.
» Looking for more checking choices? Check out NerdWallet’s best free checking accounts

SunTrust CD
1.0
NerdWallet rating1-year APY
0.05%
Minimum Deposit
$2,000
The SunTrust 12-month CD has a low rate of 0.05% APY. The bank also offers online CD options with 6-month, 18-month and 24-month terms, but they have similarly low rates. APY may vary by location. You’ll need $2,000 to open a CD, which is about average for large banks, but other institutions pay better rates and have lower minimum deposit requirements.
» Want to see higher yields? Check our list of best CD rates for the month
Banking experience
4.0
NerdWallet ratingIf you have questions about your account, you can reach a customer service specialist six days a week: Monday through Friday from 8 a.m. to 8 p.m. ET, and Saturdays from 8 a.m. to 5 p.m. ET. You can also access your account through SunTrust’s mobile apps, which earn high ratings in app stores.
For now, SunTrust customers have access to about 1,200 branches, mostly located in the Southeast.
Overdraft fees
2.0
NerdWallet ratingYou’ll want to keep a close eye on your SunTrust account balance. If it goes negative, the bank charges a steep $36 overdraft fee per transaction, with a max of six charges a day. In addition, if your balance stays negative for five consecutive business days, the bank charges another $36 “extended overdraft fee.” That’s slightly higher than the average overdraft fee for large banks, which is $35. Many online banks and credit unions have much lower charges and charge them fewer times per day.
To avoid the high fees, you can link another SunTrust account as a backup. That way, if you make an overdraft transaction, the bank will automatically transfer funds to cover the charge. But there is still a $12.50 transfer fee each day this occurs.
You can also opt for a special overdraft line of credit to avoid a negative balance, but the line of credit costs $7 a month, whether it’s used or not. It is rare for a bank to charge this type of ongoing fee for overdraft protection.

SunTrust Essential Savings
3.5
NerdWallet ratingAPY
0.01%
With $0 minimum balance
The Essential Savings account has no monthly fee if you sign up for electronic statements, and there’s also no minimum opening deposit requirement. But you can find other savings accounts that offer the same benefits and earn much higher interest rates.
» Want to see more options? Check out NerdWallet’s best savings accounts

Essential Checking
3.5
NerdWallet ratingMonthly Fee
$7.00
Waived with $500 minimum balance
SunTrust’s Essential Checking account has a $7 monthly fee, but it’s easy to waive. To avoid the charge, you either need to initiate at least ten transactions each statement cycle, have $500 or more in qualifying direct deposits (say, from a paycheck) per cycle or keep a minimum $500 daily collected balance. You can also open an account as a student and have fees waived for up to five years. That said, other banks offer checking accounts that don’t charge monthly fees.
Customers have access to 2,000 SunTrust ATMs, and can withdraw cash from an additional 2,400 BB&T ATMs with no ATM fees. Essential Checking does not earn interest.
» Looking for more checking choices? Check out NerdWallet’s best free checking accounts

SunTrust CD
1.0
NerdWallet rating1-year APY
0.05%
Minimum Deposit
$2,000
The SunTrust 12-month CD has a low rate of 0.05% APY. The bank also offers online CD options with 6-month, 18-month and 24-month terms, but they have similarly low rates. APY may vary by location. You’ll need $2,000 to open a CD, which is about average for large banks, but other institutions pay better rates and have lower minimum deposit requirements.
» Want to see higher yields? Check our list of best CD rates for the month
4.0
NerdWallet ratingIf you have questions about your account, you can reach a customer service specialist six days a week: Monday through Friday from 8 a.m. to 8 p.m. ET, and Saturdays from 8 a.m. to 5 p.m. ET. You can also access your account through SunTrust’s mobile apps, which earn high ratings in app stores.
For now, SunTrust customers have access to about 1,200 branches, mostly located in the Southeast.
2.0
NerdWallet ratingYou’ll want to keep a close eye on your SunTrust account balance. If it goes negative, the bank charges a steep $36 overdraft fee per transaction, with a max of six charges a day. In addition, if your balance stays negative for five consecutive business days, the bank charges another $36 “extended overdraft fee.” That’s slightly higher than the average overdraft fee for large banks, which is $35. Many online banks and credit unions have much lower charges and charge them fewer times per day.
To avoid the high fees, you can link another SunTrust account as a backup. That way, if you make an overdraft transaction, the bank will automatically transfer funds to cover the charge. But there is still a $12.50 transfer fee each day this occurs.
You can also opt for a special overdraft line of credit to avoid a negative balance, but the line of credit costs $7 a month, whether it’s used or not. It is rare for a bank to charge this type of ongoing fee for overdraft protection.
How does SunTrust compare?
Member FDIC | Member FDIC | |
---|---|---|
APY0.50% With $0 minimum balance | APY0.40% With $0 minimum balance | APY0.61% With $0 minimum balance |
BonusN/A | BonusN/A | BonusN/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.