Truist checking accounts have no universal minimum balance requirement

Truist does not enforce a single minimum balance across all checking accounts. Instead, the requirement depends on which specific account you open. Some Truist checking products require no minimum balance at all, while others require you to maintain a set amount—typically $500 or $1,500—to avoid a monthly service fee. The account type you choose determines whether a balance requirement applies to you.

This matters because choosing the wrong account can cost you $10 to $15 per month in fees if you cannot maintain the required balance. The fee is charged automatically if your balance falls below the threshold on the last day of the statement period or on any day during the period, depending on the account terms.

Key Takeaways

  • Truist offers checking accounts with no minimum balance requirement and others that require $500 or $1,500 to avoid monthly fees.
  • The specific minimum balance rule depends on which Truist checking product you choose at account opening.
  • If you fall below the required minimum, Truist charges a monthly maintenance fee rather than closing your account.
  • You can waive the minimum balance requirement on some accounts by setting up direct deposit or maintaining a linked savings account with a certain balance.

Truist checking account types and their balance requirements

Truist offers several checking account products, each with different rules. The Truist One Checking account has no minimum balance requirement and no monthly service fee under standard conditions. This is Truist's entry-level checking product and the one with the fewest restrictions.

The Truist Preferred Checking account typically requires a $500 minimum balance to avoid a $12 monthly service fee. The Truist Wealth Checking account, designed for customers with higher banking activity, usually requires a $1,500 minimum balance to waive its monthly fee. Both of these accounts offer additional benefits—such as higher interest rates, fee waivers on certain services, or account perks—that justify the balance requirement for customers who can meet it.

Truist occasionally updates its account offerings and fee structures, so the specific products available and their requirements may differ from what is listed here. You should confirm the exact minimum balance rule for the account you are considering by checking Truist's current account disclosures or speaking with a banker at a branch.

How the minimum balance is measured

Truist measures your minimum balance in one of two ways, depending on your account type. Some accounts check your balance on the last day of the statement period—if your balance is at or above the minimum on that single day, you avoid the fee. Other accounts use an average daily balance calculation, meaning Truist adds up your balance at the end of each day during the statement period and divides by the number of days. You must meet the minimum on average across the entire period.

The difference matters. If you receive a paycheck on the 28th and your statement period ends on the 30th, a last-day-of-period account lets you meet the minimum with just two days of adequate balance. An average daily balance account requires you to maintain the minimum throughout the month, which is harder if you typically carry a low balance and spend down your paycheck quickly.

Ways to waive the minimum balance requirement

Even if your account type normally requires a minimum balance, Truist allows you to waive the requirement through other actions. The most common waiver is setting up direct deposit—if you have your paycheck or other regular income deposited directly into your Truist checking account, the minimum balance requirement is often waived entirely. This applies to most Truist checking accounts, though the specific rules vary by product.

A second waiver option on some accounts is maintaining a linked savings account with a certain balance. For example, if your Preferred Checking account requires $500, you might waive that requirement by keeping $500 in a linked Truist savings account instead. This is useful if you prefer to keep your checking balance low for spending but want to avoid fees.

Some accounts also waive the minimum if you maintain a certain relationship with Truist—such as having a mortgage, investment account, or credit card with the bank. The specific waivers available depend on your account type, so ask your banker which options explore to you.

What happens if you fall below the minimum

If your balance drops below the required minimum and you have not met a waiver condition, Truist charges a monthly maintenance fee. This fee is not a penalty for a single day of low balance; it is a recurring charge applied to your account each statement period you remain below the minimum. The fee is deducted automatically from your checking account.

Falling below the minimum does not trigger overdraft fees or close your account. You can continue using your account normally—writing checks, making debit card purchases, and withdrawing cash. The only consequence is the monthly fee. If you bring your balance back above the minimum (or meet a waiver condition) in a future statement period, the fee stops being charged.

Comparing Truist checking to other banks' requirements

Truist's approach—offering some accounts with no minimum and others with $500 or $1,500 minimums—is typical of regional and national banks. Online banks and some credit unions often have no minimum balance on any checking account, which can be a better fit if you carry a low balance consistently. Traditional banks like Bank of America, Wells Fargo, and Chase also charge monthly fees on many checking accounts unless you meet a minimum balance or direct deposit requirement.

The trade-off is that accounts with no minimum balance often pay no interest on your checking balance, while some Truist accounts (particularly Preferred and Wealth Checking) may offer a small interest rate. If you have a large balance and want to earn interest, the minimum balance requirement may be worth it. If you prefer simplicity and low balance, a no-minimum account is usually the better choice.

Frequently Asked Questions

Can I open a Truist checking account with zero dollars?

Yes. You can open most Truist checking accounts with an initial deposit of $0, though many branches and online applications ask for at least $25 or $100 to get your free guide. Once the account is open, the minimum balance requirement (if any) applies going forward, not at opening. Confirm the opening deposit requirement when you start the account.

Does a savings account balance count toward my checking account minimum?

Not automatically. However, some Truist checking accounts allow you to waive the minimum by maintaining a linked savings account with a certain balance. This is a specific waiver option, not an automatic rule. Check your account terms or ask a banker whether your account offers this waiver.

If I have direct deposit, do I still need to maintain a minimum balance?

No. Direct deposit typically waives the minimum balance requirement on Truist checking accounts. Once your paycheck or other regular income is set up to deposit directly, you can let your balance fall below the stated minimum without incurring a monthly fee. The waiver applies as long as the direct deposit continues.

What is the monthly fee if I do not meet the minimum?

The fee varies by account type. Truist One Checking has no monthly fee regardless of balance. Preferred Checking typically charges $12 per month if you fall below $500. Wealth Checking usually charges a higher fee if you fall below $1,500. Confirm the exact fee for your specific account by reviewing your account agreement or calling Truist customer service.

Can I switch to a different Truist checking account to avoid the minimum?

Yes. You can close your current Truist checking account and open a different one—such as switching from Preferred Checking to One Checking—to move to an account with no minimum balance. There is no penalty for closing an account, though you will need to update any automatic payments or direct deposits to your new account number.