Best SunTrust Bank Checking, Savings Account Deals & Bonuses
SunTrust Bank is one of the nation's biggest banks that serve the South. You may be considering a new account with the bank because of its large physical presence in your area.
If you are, be sure to see what sign-up bonuses you'll be able to take advantage of when you open an account.
Find out what SunTrust Bank deals are available now:
SunTrust Bank Checking Account Bonuses
SunTrust Bank Checking Account Bonuses Up to $400
|Bonus Amount - Essential Checking||$200|
|Bonus Amount - Signature Advantage||$400|
|Expiration Date||June 30, 2020|
|Credit Inquiry||Soft Pull|
|ChexSystems (Banking Report) Inquiry||Yes|
|Minimum Opening Deposit||$100|
Open one of three different checking accounts from SunTrust Bank and you'll receive a bonus of up to $400, depending on the account that is opened:
- Essential Checking - $200 bonus
- Signature Advantage - $400 bonus
In order to qualify for the bonus, you have to meet the following requirements:
- Use code Q220ESSENTIAL when opening an eligible account
- Deposit at least $100 within the first 14 days of account opening
- Complete at least $2,000 in direct deposits for a Signature Advantage account or $1,000 for an Essential Checking account within 60 days of account opening
- Make at least 10 debit card purchases within 60 days of account opening
The sign-up bonus will be deposited into your account within 8 weeks of meeting the requirements.
How to Avoid the Checking Accounts' Monthly Fees
The Essential Checking account is SunTrust's most basic checking account. It has a $7 monthly fee that can be waived with one of the following:
- Make 10 or more client-initiated transactions per statement cycle
- Make $500 or more in total qualifying monthly Direct Deposits per statement cycle
- Keep a $500 minimum daily collected balance
- Open as a student and receive a 5 year Student waiver
The Essiantial Checking account is a mid-tier checking account with added benefits, including the ability to earn interest on your balance. It has a $15 monthly fee, which can be avoided with any of the following:
- Make $2,000 or more in total qualifying Direct Deposits
- Keep a $2,000 minimum daily Essential Checking balance
- Maintain $10,000 total combined relationship balances linked across deposits, investments, mortgages, and loans
- Hold a SunTrust Mortgage with SurePaySM
- Hold a Linked Small Business Checking account
The Signature Advantage account is the top-tier SunTrust checking account for customers who keep a large balance with the bank. It has carries a $25 monthly fee that can only be waived when you:
- Maintain $25,000 in total deposit balances
SunTrust Checking Account Fees
|Type||Essential Checking||Select Checking||Signature Advantage|
|Monthly Maintenance Fee||$7||$15||$25|
|Out-of-Network ATM Fee||$3||$3 (waived 2x per statement cycle)||$0|
|Overdraft Fee||$36||$36||$36 (waived 3x/rolling 12 months)|
|Overdraft Protection Transfer Fee||$12.50||$12.50||$12.50|
|Returned Item||$36||$36||$36 (waived 3x/rolling 12 months)|
|Deposited Item Returned or Cashed Check Returned||$12.50||$12.50||$12.50|
|Incoming Domestic Wire Transfer||$15||$15||$15|
|Incoming International Wire Transfer||$30||$30||$30|
Compare to Online Checking Accounts
Get a Form 1099-INT at Year's End
The IRS requires that you report any income that you bring in, including what you get from a bank bonus.
At the end of the year, SunTrust will issue a Form 1099-INT with that amount that you earned from signing up for one of their account bonuses. Remember to include this amount when you're filing your taxes.
What Happens If You Close Your Account Too Soon
SunTrust doesn't want people to open and close accounts just to earn bonuses and leave. In the fine print, the bank reserves the right to deduct the bonus amount from your account if you decide to close it within 180 days of account opening.
Furthermore, you'll get hit with a $25 fee if you close the account within 6 months of account opening. So, you'd lose the bonus and get hit with an early account closure fee.