What you need to open a Truist savings account

You can open a Truist savings account online, by phone, or in person at a branch. The process takes about 15 minutes online or 20 to 30 minutes in a branch. You will need a valid government-issued ID (driver's license, passport, or state ID), your Social Security number, and an initial deposit — Truist does not require a minimum opening deposit for most savings accounts, though some accounts may have different requirements.

If you are opening an account online, you will also need an email address and a phone number where Truist can reach you. For in-person or phone openings, a Truist representative will walk you through the same information. Have your current address ready, and if you are opening a joint account, both account holders will need to provide their own ID and Social Security number.

Key Takeaways

  • You can open a Truist savings account online in about 15 minutes with just an ID, Social Security number, and email address.
  • Truist does not require a minimum deposit to open most savings accounts, though you will need to fund the account with at least some amount during the opening process.
  • In-person openings at a Truist branch take 20 to 30 minutes and let you ask questions about account features and rates in real time.
  • You can open a joint account if both owners provide their own ID and Social Security number.
  • After opening, your account is usually active the same day for online deposits and transfers, though some transactions may take one to two business days to clear.

Opening a savings account online

Go to the Truist website and select "Open an Account" or "Savings Accounts." You will be asked to choose which type of savings account you want — Truist offers a standard savings account and may offer promotional rates on certain accounts depending on the current period. Read the account details carefully, as rates and features vary.

Enter your personal information: full name, date of birth, Social Security number, current address, email, and phone number. Truist will ask you to create a username and password for online banking. You will then upload or photograph your government-issued ID — the website will guide you through this step. Truist verifies your identity electronically; this usually takes a few minutes but can take up to 24 hours in some cases.

Once your identity is verified, you will link a funding source — usually a bank account or debit card from another institution. Enter the account or card number and the amount you want to deposit. Truist will process this transfer; most transfers from other banks take one to two business days, though some debit card deposits may be when ready. Your Truist savings account is active when ready, but you may not see the funds until the transfer clears.

Opening a savings account in person at a branch

Find a Truist branch near you using the branch locator on the Truist website. Bring your government-issued ID, Social Security number (or have it memorized), and a debit card or checkbook from another bank if you want to fund the account when ready. You do not need an appointment, though calling ahead during busy times can save you a wait.

A Truist representative will ask the same questions as the online process: your name, address, Social Security number, and how you want to fund the account. They can answer questions about interest rates, monthly fees, and account features on the spot. If you bring a debit card or checkbook, they can process a transfer right away. If you want to deposit cash, they can do that as well — cash deposits are available in your account when ready.

The representative will give you temporary access to your account before you leave the branch. You will receive your debit card in the mail within 7 to 10 business days. Online banking access is usually available the same day or the next business day.

Opening a savings account by phone

Call Truist customer service at the number on the back of a Truist debit card, or find the phone number for your local branch on the Truist website. A representative will walk you through the account opening process over the phone. You will need to provide the same information as online or in-person: ID details, Social Security number, address, and email.

The representative will verify your identity by asking security questions based on your credit history. Once verified, you will choose your account type and funding method. You can fund the account from another bank account or debit card; the representative will guide you through entering those details. Your account is active the same day, though transfers from other banks take one to two business days to clear.

What happens after you open the account

Your Truist savings account is ready to use when ready for transfers and online deposits. Your debit card arrives in 7 to 10 business days if you opened in person or by phone; if you opened online, Truist will mail the card to the address you provided. You can set up online banking access right away and start moving money between accounts.

Truist will send you account statements monthly or you can view them online anytime. Check your account settings to confirm the interest rate on your savings account — rates change, and Truist will notify you of changes by mail or email. If you opened a joint account, both owners can access the account online and by phone using their own login credentials.

Funding your account after opening

After your account is open, you can add money in several ways. Transfers from another bank take one to two business days and are free. Debit card deposits (if you set up a card from another bank) may be when ready or take one business day. Cash deposits at a Truist branch are available when ready. Direct deposit from your employer or government benefits can be set up through your employer's payroll system or the benefits program — you will need to provide your Truist account number and routing number, which you can find in online banking or on your debit card.

Mobile check deposit is available through the Truist mobile app: photograph the front and back of a check and submit it through the app. The check is usually available in your account within one business day. There are limits on how many checks you can deposit per day and per month; Truist will show you these limits in the app.

Account features and fees

Truist savings accounts earn interest, though the rate varies depending on the account type and current market conditions. You can see the current rate before you open the account on the Truist website. Interest is calculated daily and paid monthly.

Most Truist savings accounts do not have a monthly maintenance fee, but some accounts may have a minimum balance requirement to avoid a fee — check the account details before opening. If you fall below the minimum, Truist will notify you. Withdrawals from a savings account are limited by federal regulation to six per month (this rule applies to all banks, not just Truist); additional withdrawals may result in a fee or the account being converted to a checking account.

Frequently Asked Questions

Can I open a Truist savings account if I do not have a Social Security number?

Truist requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open an account. If you have an ITIN, you can open an account using that instead. Contact Truist directly to confirm whether your specific situation qualifies.

How long does it take to open a Truist savings account online?

The online process usually takes 10 to 15 minutes to complete. Identity verification can take a few minutes to 24 hours. Once verified, your account is active when ready, though transfers from other banks take one to two business days to appear.

What is the minimum deposit to open a Truist savings account?

Truist does not require a minimum opening deposit for most savings accounts. However, you will need to fund the account with some amount during the opening process — even a small initial deposit counts. Check the specific account details on the Truist website, as some promotional accounts may have different requirements.

Can I open a joint savings account at Truist?

Yes. Both account owners must provide their own ID and Social Security number. You can open a joint account online, by phone, or in person. Both owners can access the account and make withdrawals.

When can I start using my Truist savings account?

Your account is active the same day you open it. You can transfer money between Truist accounts when ready. Transfers from other banks take one to two business days. Your debit card arrives in 7 to 10 business days.