If Truist is hiding fees in your bill, you may have legal options.
Truist is the 7th largest bank in America, headquartered out of North Carolina. They offer a range of personal and commercial banking services. The fees Truist charges you vary based on the type of account you have.
Truist has multiple types of checking accounts, each with varying monthly maintenance fees. They also each have the option to avoid the monthly fee if you keep a certain amount of money in your account. But be advised, if you dip below that figure, even just for one month, on whatever day your monthly maintenance fee is normally levied, you might find it on your statement.
For example: If you have a Truist Bright Checking account and normally have direct deposit checks over $500, you can avoid the monthly fee. However, if you switch jobs one month and don’t have a direct deposit set up with the new job yet, you might see that $12 fee during the month you make the change.
The monthly maintenance fee is $12. A paper statement request earns a $3 fee. You can avoid this by keeping $1,500 in your account or direct deposits over $500.
The monthly maintenance fee is $20. You can avoid this by keeping $10,000 in your account or direct deposits over $3,000 each month.
The monthly maintenance fee is $5 or $3 in New Jersey. There is no monthly minimum to avoid the maintenance fee. If you request a paper statement, it is $3 per statement.
The monthly maintenance fee is $15. You can avoid it if you keep $1,000 in your account or direct deposit $750.
This account does not have any monthly fees, but paper statements cost $3 each.
There are no monthly fees for this account, but you are only allowed six withdrawals per month, after which you are charged $5 per withdrawal. Paper statements cost $3 each.
This account has a $5 monthly fee. A paper statement request earns a $3 fee. You are only allowed six withdrawals per month, after which you are charged $5 per withdrawal.
This account has a $12 monthly fee. You are only allowed six withdrawals per month, after which you are charged $15 per withdrawal. Any paper statements cost $3 each.
Truist also has a few wealth accounts.
This account has an annual maintenance fee of $50 unless you maintain a daily balance of $25,000.
Your monthly fee is $30, which can be avoided by maintaining $50,000 across your Truist accounts.
You are only allowed six withdrawals per month, after which you are charged $15 per withdrawal. Your monthly fee is $25 unless you keep $25,000 in your account at all times.
Beyond these basic fees, there is a whole heap of other “miscellaneous services and fees” you might find on your next statement.
So, with such an enormous list of miscellaneous fees, it is easy for you to get a statement and not understand why there are so many charges on it. What should you do then?
You can start by contacting Truist customer service. Truist customer service should be able to adequately explain why hidden fees are on your statement, what they are for, and why you were charged. Your user agreement probably prevents you from joining existing Truist lawsuits, but you can sue them in small claims court if you have the time and money.
Alternatively, you can use consumer arbitration, a potentially easier and faster way to get a resolution.
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