Understanding Hidden Fees in Your Truist Statement

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. 

Checking Accounts

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. 

Truist Bright Checking

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. 

Truist Dimension Checking

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. 

Truist Fundamental Checking

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. 

Truist Focus Checking

The monthly maintenance fee is $15. You can avoid it if you keep $1,000 in your account or direct deposit $750.

Truist Student Checking

This account does not have any monthly fees, but paper statements cost $3 each. 

Savings Accounts

Truist Online Savings

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. 

Truist Savings

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. 

Truist Money Markey Account

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. 

Wealth Accounts

Truist also has a few wealth accounts. 

Truist Wealth Checking

This account has an annual maintenance fee of $50 unless you maintain a daily balance of $25,000. 

Truist Asset Management Account

Your monthly fee is $30, which can be avoided by maintaining $50,000 across your Truist accounts. 

Truist Wealth Money Market Account

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. 

Miscellaneous Services and Fees

Beyond these basic fees, there is a whole heap of other “miscellaneous services and fees” you might find on your next statement. 

• If you want a check image with your statement where you get a regular-sized image, it costs $4 per copy.
• If you want a larger check image than an actual check, it costs $5 per copy. 
• Overdraft fees are $36 for any account per item. There is a limit of 6 per day. This fee is waived for overdraft transactions under $5. However, if more than one transaction comes through your account, you can face up to $216 in daily fees. 
• Having a negative balance incurs a separate fee of $36. 
• If you have overdraft protection, it saves you from that negative balance fee. However, it means that each time money is moved from one account to another to cover a negative balance, it charges $12.50. 
• If a domestic item is returned, you might see another $12 on your statement. If an international item is returned, that jumps to $30. 
• A stop payment fee is $35 each. 
• Screenprint statement fees are $5 each.
• Charged-off account fees are $40. 
• Special mail handling for hold mail is $5 per month and for returned mail is $5 each time it happens.
• Research services cost $25 per hour, $5 per copy of checks or statements, and $3 per duplicate statement.
• Bonds that are returned might earn an unexpected $35 fee per envelope. Bond redemption is a $20 fee, and a bond coupon collection is a $10 fee. 
• Outgoing collections or check collections face another $25 fee. 
• Foreign check collection earns a $75 fee plus foreign bank fees.
• Wire transfers incoming are $15 for domestic and $20 for international. Outgoings are $30 for domestic and $65 for international. 
• Wire transfer notices might show a separate fee of $7 for mail, $10 for repairs, and $25 for investigations. 
• ATM fees are $3 per transaction at a non Truist bank and $5 for an international bank. 
• Expedited overnight bill pay is $4.95 for electronic and $14.95 for mail. Sending someone money electronically costs $3 per transaction and $6 if you want it on the same day. 
• Using Quicken earns a $9.95 monthly fee. 

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?

What Can I Do If a Truist Incorrectly Charged Me Fees?

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. 

Share your complaint about complaint against Truist with FairShake today.