In 2019, SunTrust Bank merged with BB&T (Branch Banking and Trust Company) to become Truist, now the sixth-largest bank by total assets in the U.S.

If you’re interested in becoming a customer, this could prove to be pretty lucrative. New customers who open an eligible Truist checking account can qualify for a cash bonus of up to $500. Read the fine print here and find out if an account with this bank is a good fit for your money and goals.

How to Get the $500 Bonus

Now through April 30th, 2022, you can qualify for a $500 cash bonus when you open a new qualifying checking account. 

These include the Truist Dimension Checking account, the Truist Bright Checking account, and the Truist Fundamental Checking account. There are only two things you need to do to get the bonus.

• First, you must enroll in this offer using the promo code TR1CHK22B to be eligible for this promotion when opening your new account.
• Next, you must successfully link direct deposit and receive at least $1,000 between two qualifying transactions in the first 90 days of having the account.

After meeting these requirements, you will receive your $500 automatically within four weeks of qualifying. All of these accounts can be opened fully online or you can present your promo code at a Truist branch location.

You will not be eligible for this bonus if you currently have a checking account with Truist Bank or have had a personal checking account with Truist Bank, BB&T, or SunTrust Bank and closed it on February 1st, 2021. 

Also, you must be a resident of one of the following states to qualify: Alabama, Arkansas, Georgia, Florida, Indiana, Kentucky, Maryland, Mississippi, North Carolina, New Jersey, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, and DC.

Read more about each of the three qualifying checking accounts below.

Related: See 2022’s best checking account bonuses that do not require direct deposit set up.

Truist Dimension Checking Account

The minimum deposit required to open a new Truist Dimension Checking account is $50.

This account charges a $20 monthly maintenance fee that can be waived in one of three ways:

• Receiving at least $3,000 in direct deposit transactions per month or maintaining an average daily balance of $10,000 or more
• Having a personal Truist mortgage, credit card, or consumer loan (including LightStream products)
• Linking a Truist Small Business checking account with this account (eligible accounts include Truist Dynamic Checking, Business Interest Checking, Simple Business Checking, and Business Value 200)

The Dimension Checking account includes rewards that are determined by your tier with Dimension Premier being the highest rewards level. Your rewards level correlates with your account balance and comes with a certain amount of perks.

The credit card loyalty bonus applies to the Truist Enjoy Cash credit card. This credit card earns 3% cash back on all gas purchases, 2% on utilities and groceries, and 1% on everything else. Or, you can opt instead to receive 1.5% cash back on everything (note that you must decide how you want to earn when opening and can’t change it later). There is no annual fee for this card and your loyalty cash bonus will be deposited  

New Delta SkyMiles Debit Cards are only available to Truist Dimension Checking and Wealth and Truist Asset Management Account Checking users. With the Dimension Checking account, you will earn one mile for every $2 you spend using your debit card for point-of-sale and signature-based purchases, plus an extra mile per $2 when you make travel purchases directly through Delta. You can earn up to 4,000 miles every 30 days with this card.

In addition to perks that are determined by your rewards level, this account comes with benefits for all users. These include having the monthly maintenance fee waived for a Truist Savings account, a $25 discount on safe deposit boxes, and having the monthly fee waived for up to four other Truist checking accounts when linked with this account. You can also activate Overdraft Protection to avoid fees.

This account also earns interest at a current rate of $0.01 across all balance tiers. To earn interest, you just need to maintain a positive balance in your account.

Truist Bright Checking Account

The minimum deposit required to open a new Truist Bright Checking account is $50.

This account charges a $12 monthly maintenance fee that can be waived in one of two ways:

• Receiving at least $500 in direct deposit transactions per month
• Maintain an average ledge balance of $1,500 or more

This is an everyday checking account with benefits such as overdraft protection services, free ATM transactions when you use in-network Truist ATMs, and bill pay features. 

If you opt in to Overdraft Coverage, Truist may cover transactions and withdrawals that overdraft your account and you will be expected to repay this. If you do not, transactions that would cause your account to have a negative balance are automatically declined. If you opt in to Overdraft Protection, Truist will withdraw funds from your linked deposit account to cover overdrafts at a fee of $12.50 per transfer (waived if you overdraft by less than $5).

The Truist Bright Checking account does not earn interest and there are no rewards tiers. This account is best for you if you plan to set up direct deposits, which you need to anyway to get the $500 bonus.

Truist Fundamental Checking Account

The minimum deposit required to open a new Truist Fundamental Checking account is $50.

This account charges a $5 monthly maintenance fee ($3 if you live in New Jersey) that cannot be waived regardless of your balance or activity. There is no minimum balance requirement for this account. 

The Truist Fundamental Checking account does not earn interest. The overdraft coverage and protection services mentioned above for the Truist Bright Checking account are also available for this account, with the same fees and requirements. Other than that, there are no additional benefits or rewards.

It’s a really basic checking account overall. There are many free checking accounts out there with similar features, so we don’t recommend this option for your primary checking needs. 

With that said, this could be a good choice for your first checking account or for teens to open jointly with a parent or guardian. There are more rewarding accounts out there for this, but the bonus offer could make it worth it.

Final Thoughts

If you’re looking for a checking account with a competitive interest rate, you won’t find it with Truist Bank. But this is one of the better bonus offers we’ve seen in a while considering the requirement is to receive just $1,000 in direct deposit transactions within 90 days. $500 is nothing to scoff at, especially when it’s this easy to get.

Although these checking accounts aren’t free, they are good options if you want rewards. With travel perks like a discounted Delta SkyMiles debit card and earning bonuses when you use your credit card, plus a variety of ways to waive the fee, we recommend the Truist Dimension Checking account.