You can open a Truist savings account online in about 10 minutes, or in person at a branch

Truist offers two main routes: online through their website or mobile app, or by visiting a branch in person. The online route is faster and requires only a computer or phone, a valid ID, and a Social Security number. You'll fund the account when ready and start earning interest the same day. The in-person route takes longer but lets you ask questions and handle everything face-to-face with a banker.

Both routes lead to the same product — a standard savings account with a stated interest rate that changes based on Federal Reserve decisions. Truist publishes current rates on their website; rates vary by account type and balance tier, so check before you open to know what you'll earn.

Key Takeaways

  • Online account opening takes 10 minutes and requires a valid government ID, Social Security number, and initial deposit, with no minimum balance requirement stated by Truist.
  • You can fund the account when ready with a debit card, bank transfer, or wire transfer, and interest begins accruing the same day.
  • In-person opening at a Truist branch follows the same identity verification steps but allows you to ask questions and receive printed documentation on the spot.
  • Your account number and routing number are available when ready after opening, so you can set up direct deposit or transfers right away.
  • Truist savings accounts are FDIC-insured up to $250,000 per depositor per bank, which means your money is protected if the bank fails.

Opening an account online through Truist's website or app

Start at truist.com or open the Truist mobile app on your phone. Look for the "Open an Account" button, usually on the homepage. Select "Savings Account" from the account type menu. You'll be asked to choose between a standard savings account and any promotional savings products Truist is currently offering — the standard option is the most straightforward.

Enter your personal information: full name, date of birth, Social Security number, address, phone number, and email. Truist will verify this information against public records. Have your government-issued ID ready — a driver's license, passport, or state ID card. You may be asked to photograph both sides of your ID using your phone's camera, or to answer security questions based on your credit history.

Next, choose how much to deposit initially. Truist does not state a minimum opening deposit, so you can start with any amount. Select your funding method: debit card, ACH transfer from another bank account, or wire transfer. Debit card funding is when ready; ACH transfers typically take one to two business days. Once you submit, your account opens and you receive your account number and routing number when ready.

Opening an account in person at a Truist branch

Find your nearest Truist branch using the branch locator on truist.com. Bring a valid government ID and your Social Security number. You do not need an appointment, but calling ahead during busy times can save you a wait. A banker will walk you through the same verification steps as the online process — they'll record your personal information, confirm your identity, and ask about the initial deposit.

The banker will show you the current interest rate, explain any account features or restrictions, and answer questions about how the account works. You'll sign documents on paper or electronically. The banker will provide you with your account number, routing number, and often a temporary debit card or information for ordering one. The account is active when ready, and you can make your first deposit at the branch teller window or through an ATM.

What you need before you start

Have a valid government-issued ID: a driver's license, passport, state ID card, or military ID. Truist will not open an account without one. Your Social Security number is required for tax reporting and fraud prevention. If you do not have a Social Security number, contact a Truist branch to ask about alternatives — some banks offer accounts for non-citizens with an ITIN (Individual Taxpayer Identification Number), but Truist's policy varies by state.

Decide how much to deposit initially. There is no stated minimum, so you can open with $1 or $1,000. If you plan to fund the account by transfer from another bank, have that account's routing and account numbers ready. If you're using a debit card, have the card number, expiration date, and CVV available.

How interest works on your Truist savings account

Truist pays interest on your savings balance, compounded daily and deposited monthly. The rate you earn depends on the account type and your balance tier — higher balances sometimes earn higher rates, though Truist's structure varies. Check truist.com for the current rate before you open, because rates change when the Federal Reserve adjusts its benchmark rate.

Interest begins accruing the day your account opens and your initial deposit clears. If you deposit $500 on a Monday, you start earning interest on that $500 when ready, even if you do not add another dollar. The interest is taxable income, so Truist will send you a 1099-INT form at the end of the year if you earned $10 or more in interest.

Setting up direct deposit and transfers after opening

Once your account is open, you have your account number and routing number. You can set up direct deposit of your paycheck when ready — give your employer or payroll provider the account number and Truist's routing number (which is the same for all Truist customers). Direct deposit typically takes one to two pay cycles to set up.

You can also link your Truist savings account to other bank accounts you own for transfers. In the Truist app or online banking, select "Transfer Money" and choose "Add External Account." Enter the other bank's routing number and your account number there. Truist will verify the account with two small deposits (usually $0.01 and $0.02), which you'll confirm in your other bank's system. Once verified, you can transfer money between accounts when ready or on a scheduled basis.

FDIC insurance and account protection

Your Truist savings account is insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor per bank. This means if Truist fails, the FDIC will reimburse you for your balance up to that limit. The $250,000 limit applies to all your deposit accounts at Truist combined — if you have a checking account and a savings account at Truist, the $250,000 covers both together, not separately.

If you have more than $250,000 to deposit, you can open accounts at different banks to keep each one fully insured. You can also open a joint account with another person — that account gets its own $250,000 of FDIC coverage, separate from your individual accounts. Truist's website has an FDIC insurance calculator if you want to verify your coverage before opening.

Frequently Asked Questions

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

Online opening takes about 10 minutes from start to finish. Your account is active when ready, and you can deposit money and begin earning interest the same day. In-person opening at a branch typically takes 15 to 30 minutes, depending on how busy the branch is and how many questions you have.

Can I open a Truist savings account if I don't have a Social Security number?

Truist requires a Social Security number for standard accounts. If you have an ITIN instead, contact your local Truist branch to ask whether they can open an account under that number — policies vary by state and change over time. Some branches may require additional documentation.

What's the difference between Truist's savings account and their money market account?

A money market account typically offers a higher interest rate in exchange for a higher minimum balance and limits on how often you can withdraw. A savings account has no stated minimum and no withdrawal limits. Check Truist's current rates and terms for both products to see which fits your needs.

Can I open a joint savings account with someone else?

Yes. Both account holders must be present (in person or online) with valid ID and Social Security numbers. Each person has full access to the account and can withdraw money without permission from the other. The account gets its own $250,000 of FDIC coverage, separate from either person's individual accounts.

What happens if I don't make a deposit right after opening?

Your account remains open and active. You can deposit money anytime after opening — there is no important date. Interest only accrues on money that is actually in the account, so if you open with $0 and deposit $100 a week later, you start earning interest on that $100 from the day it arrives.