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Account Overdrawn Alerts

When you sign up for Account Overdrawn Alerts through Online Banking, they are sent daily when your account has insufficient Funds.

ACH/Electronic Debits

You can allow a company to request electronic payments directly from your account. This normally happens by agreeing to a payment contract with the merchant and providing them with your account information. These transactions are called electronic debits or ACH (Automated Clearing House) transactions. You might use this type of transaction to pay your car insurance, mortgage, gym membership or utility bills—any kind of recurring payment. When you pay your bills using Online Banking or Mobile Banking, these transactions may also be processed using ACH.

ACH/Electronic Debits will be deducted from your available balance as soon as we receive them, and will be posted that night. Electronic debits are not guaranteed—if you don't have a sufficient balance, we may have to return the item. If the item is returned and the transaction is $5 or greater, a $36 returned item fee be assessed. If you don't have a sufficient balance and we pay the item, a $36 overdraft fee might be assessed (for transactions $5 and greater).

Sometimes a merchant or company will convert a check you've written to them into an electronic debit or "electronic check." The information on your check is transferred electronically through the ACH. This eliminates the process of the physical check moving through the system, so it's a lot faster. (Your original check will be destroyed by the merchant or handed back to you for disposal.) For example, you write a check at a major retail store for your new bath towels. The cashier takes the check and processes it electronically while you’re there and hands the check back to you. The transaction shows up on your statement as an electronic debit (ACH) for the amount of your check.

ATM (Automated Teller Machine)

An ATM is a machine that dispenses cash and handles financial transactions, including deposits and transfers. Find one of SunTrust's 2,000+ ATMs near you.

ATM Cut-Off Time

The ATM cut-off time is the time by which a cash or check deposit must be made through an ATM in order to post that day. It is 9 p.m. ET (M–F).
View Deposit Cut-Off Times.
Note: Check deposits made by cut-off will post that night and are subject to hold.

ATM Fee

This is a processing fee charged when you use an ATM outside of SunTrust's network of nearly 2,200 ATMs. Find out how you can avoid this fee.

Available Balance

Your available balance is the money in your checking or savings account that's currently available to you to make purchases, withdrawals, etc. Keep an eye on this balance because it is the balance used to assess overdraft fees and returned item fees. The available balance reflects any processed and pending transactions, and any holds. It does not include any checks you have written that have not posted. (Checks are processed during the nightly posting and will be reflected the next day.) This balance is updated throughout the day with transactions you make. We encourage you to monitor your available balance through Online Banking, Mobile Banking, or by calling 800.SUNTRUST. You can also sign up for email and text alerts in Online Banking to help manage your account activity.

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Batch Processing

Batch processing is the daily processing of transactions in groups (or batches) in a predetermined order. No user interaction is required once batch processing is underway; it is automatic.

C

Clear

A transaction is said to clear or post when it has been successfully credited or debited to an account.

Collected Balance

Your collected balance is the same as the current (ledger) balance, except that it does not include any checks you have deposited for which the bank hasn't received credit.

Credit

When an item is credited to your account, it shows up as a positive (+) transaction and is added to your balance (as opposed to a debit, which shows up as a negative (–) transaction and is subtracted from your balance). Cash that you deposit is an example of a credit.

Current (Ledger) Balance

Your current balance (also called ledger balance) is the actual amount in your account and does not change throughout the day. It does not include holds or pending transactions.

D

Daily Balance Alerts

When you sign up for Daily Balance Alerts through Online Banking, we notify you of your available balance each morning.

Debit

When an item is considered a debit to your account, it shows up as a negative (–) transaction and is subtracted from your associated checking account balance as opposed to a credit, which shows up as a positive (+) transaction and is added to your balance. A debit card purchase at a merchant is an example of a debit that would appear in your checking account.

Debit Card

A debit card looks like a credit card, but will withdraw funds directly from your checking account when a purchase is made or when you withdraw cash at an ATM. Many people find it more convenient than carrying cash or checks. Find more about all of the benefits of the SunTrust MasterCard® Debit Card here.

Deposit

A deposit is a sum of money that you put into your account.

Deposit Image (DI) technology

Deposit Image (DI) technology is featured in most of our SunTrust ATMs and allows you to deposit cash or checks without an envelope, and generates a snapshot image of your deposited checks.

Deposited Item Returned

You deposited a check that was written to you, but the person who wrote it does not have sufficient funds to cover it. In this case, if you were already credited for the deposit, we would charge it back to your account (meaning that we would debit your account because the funds were not available).

Deposited Item Returned Fee

This is a fee incurred when you deposit a check written to you, and the person who wrote it does not have sufficient funds to cover it. In this case, if you were already credited for the deposit, we would charge it back to your account (meaning that we would debit your account because the funds were not available).

Direct Deposit

Direct Deposit is a service that electronically deposits payments you receive, like your paycheck, Social Security benefits, pension checks and other routine sources of income. It saves you time and provides you immediate access to your money. Check with your employer or the agency sending your payments to see if this service is available to you.

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Electronic/ACH Debits

You can allow a company to request electronic payments directly from your account. This normally happens by agreeing to a payment contract with the merchant and providing them with your account information. These transactions are called electronic debits or ACH (Automated Clearing House) transactions. You might use this type of transaction to pay your car insurance, mortgage, gym membership or utility bills—any kind of recurring payment. When you pay your bills using Online Banking or Mobile Banking, these transactions may also be processed using ACH.

ACH/Electronic Debits will be deducted from your available balance as soon as we receive them, and will be posted that night. Electronic debits are not guaranteed—if you don't have a sufficient balance, we may have to return the item. If the item is returned and the transaction is $5 or greater, a $36 returned item fee might be assessed. If you don't have a sufficient balance and we pay the item, a $36 overdraft fee might be assessed (for transactions $5 and greater).

Sometimes a merchant or company will convert a check you've written to them into an electronic debit or "electronic check." The information on your check is transferred electronically through the ACH. This eliminates the process of the physical check moving through the system, so it's a lot faster. (Your original check will be destroyed by the merchant or handed back to you for disposal.) For example, you write a check at a major retail store for your new bath towels. The cashier takes the check and processes it electronically while you’re there and hands the check back to you. The transaction shows up on your statement as an electronic debit (ACH) for the amount of your check.

EMV Chip-Enabled Card

A credit or debit card enabled with a magnetic stripe and microchip is an EMV Chip Enabled card. This technology is widely used around the world and is a tool to combat fraud.

Extended Overdraft Fee

An extended overdraft fee occurs when your current balance has been negative for five consecutive business days. Find out how you can avoid this fee.

External Transfer

An extended overdraft fee occurs when your current balance has been negative for five consecutive business days. Find out how you can avoid this fee.

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High Balance Alerts

When you sign up for High Balance Alerts through Online Banking, we will tell you when your account rises above your specified amount.

Hold

In most cases, SunTrust makes funds from deposited checks available to you before the funds are collected. Cash deposits, wire transfer deposits and electronic direct deposits — such as Social Security benefits and payroll benefits — are considered collected immediately and available for withdrawal on the day we receive the deposit. However, in some cases, we may place a hold on your account for a portion or full amount of a deposited check. For example, if we have reason to believe a check you deposit will not be paid or if the deposited check is more than $5,000, a hold may be placed. If we do place a hold on your deposit, you will be notified via mail of the dates the funds will be available for payment or withdrawal. You will also be able to see any holds placed on your account in Online Banking and Mobile Banking. Read more about funds availability in our Funds Availability Policy for Deposit Accounts.

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Internal Transfer

An internal transfer is a transfer between your SunTrust accounts. Transfers can be made in a variety of ways including online, mobile, phone, ATM or branch. Find out more about transfers.

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Low Balance Alerts

When you sign up for Low Balance Alerts through Online Banking, we let you know when your account has fallen below your specified amount.

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Merchant Authorization

A merchant authorization applies to debit card purchases. Typically, it is a real-time process where a merchant verifies that you have sufficient funds in your account to cover the transaction.

Minimum Daily Collected Balance

The minimum daily collected balance is the current daily ledger balance less the amount of any checks deposited that are in the process of being collected.

Mobile Banking

Mobile Banking lets you bank on the go. Use a smartphone to access accounts, transfer funds, pay bills, view balances and locate ATMs/Branches through the Mobile Web or Mobile App. You can also pay bills and locate ATMs/branches through the Mobile App and Mobile Web. With Text Banking, you can simply send a text to view balances, transactions and search for ATMs and branches. Plus, you can set up Mobile Alerts in Online Banking to keep you updated on your balances and security settings.

View a demo to find out everything you can do with Mobile Banking. You must be an Online Banking client to enroll in Mobile Banking.

Monthly Maintenance Fee

A monthly maintenance fee is a standard fee charged for maintaining your account and providing you with features and services. Learn more about the fees associated with the checking solutions we offer, how to qualify for a monthly maintenance fee waiver and any other account-related fees here.

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Non-SunTrust ATM Fee

A non-SunTrust ATM fee is a processing fee charged when you use an ATM outside of SunTrust’s network. Additionally, owners of ATMs not in our network may charge their own fees, which could raise the total cost of the withdrawal. Learn more about ATM fees here.

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Online Banking with Bill Pay

Online Banking with Bill Pay is a quick and easy way to access your accounts, pay bills, transfer money and more. View a demo to find out everything you can do with Online Banking and Mobile Banking. Or, just sign up now.

Overdraft Assurance

Overdraft Assurance is a special line of credit designed to cover overdrafts only.

  • You receive a $500–$5,000 line of credit based upon your credit qualifications.
  • A low monthly fee of $7.00 is assessed to your designated checking account to maintain this line of credit.
  • There are no overdraft transfer fees.* If the funds are repaid back to your Overdraft Assurance account before the 4th calendar day, no interest is charged.

 

Learn more about SunTrust Overdraft Services

* A $7.00 monthly fee will be assessed to your designated checking account in order to maintain access to the Overdraft Assurance line of credit. If funds are not repaid back to the Overdraft Assurance account before the fourth calendar day after the date advances are posted to your credit line, interest will begin to accrue. APRs are fixed and standard APRs could range from 13% to 16% APR. Exclusions and limitations apply. Overdraft Assurance is subject to credit approval, and if approved, transfers will be made up to your available credit limit.

Overdraft Coverage

Overdraft Coverage allows SunTrust to decide whether to approve an ATM withdrawal or pay a debit card transaction when your available balance is not sufficient to cover the transaction. An overdraft fee may be incurred for each overdraft transaction. We pay overdrafts at our discretion, which means we can't guarantee that we will always cover every transaction. Learn more about overdraft fees and overdraft services.

Overdraft Fee

An overdraft fee is a $36 fee that is incurred when a transaction amount exceeds the available balance and is paid with negative funds. Overdraft fees may be assessed on checks, recurring debit card transactions, ACH items and other items. Also, if you have accepted Overdraft Coverage, ATM and one-time debit card transactions may be assessed an overdraft fee. These fees are waived on overdrawn or returned items with transaction amounts less than $5. Also, this fee may not be charged for one of the following reasons: Product Benefit, Declined Overdraft Coverage, Over Daily Maximum (six total Overdraft and Returned Item fees per day), or Other Waiver. Find out how you can avoid this fee.

Overdraft Protection

Overdraft Protections allows your transactions to go through, even when your checking account does not have sufficient funds. This is possible because your checking account is linked to another SunTrust deposit account, credit card or line of credit that can automatically transfer available funds. As long as the linked account balance can cover the transaction, you pay just one $12.50 transfer fee on the day the overdrafts occur, regardless of how many transactions. This can be more economical than Overdraft and Returned Item fees which are $36 and charged per item. Learn more about overdraft fees and overdraft services.

Overdraft Protection Transfer Fee

An Overdraft Protection transfer fee is a $12.50 fee incurred each day you use your Overdraft Protection to cover any transaction(s).

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Pending Deposit

A pending deposit has been received but has not yet been through processing. Any cash deposited is made available immediately and reflected in your available balance. Checks deposited are not yet available for use, and are not included in your available or current balances. Read more about when money goes in and out of your account here.

Pending Transaction

A pending transaction is a transaction that has not been posted to your account, but is reflected in your available balance. The check portion of a pending deposit has been received but is not yet available for use and is not included in your available or current balances. Note that pending debit card transaction amounts may change depending on the final amount received from the merchant.

Post

A transaction is said to clear, or post, when it has been successfully credited or debited to an account.

Posted Transaction

A posted transaction is one that has been processed and has cleared your account. A posted transaction will show up in your current (ledger) balance. Items are posted according to transaction type. Please see our transaction posting process for details.

Provisional Credit

A provisional credit is a temporary credit, which may be applied to your account in situations where a transaction is disputed and being researched. Once the research is complete, a provisional credit can be reversed or made permanent. This is all dependent on the outcome of the investigation. Provisional credit is not guaranteed.

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Returned Item Fee

A returned item fee is incurred when a check or ACH item is returned unpaid due to not having a sufficient available balance. These fees are waived on overdrawn and returned items with transaction amounts less than $5. Also, this fee may not be charged for one of the following reasons: Product Benefit, Declined Overdraft Coverage, Over Daily Maximum (six total Overdraft and Returned Item fees per day), or Other Waiver. Find out how you can avoid this fee.

A returned Item fee is incurred when you try to make a purchase that costs more than the available balance in your account and the transaction is returned unpaid.

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Safe Deposit Box

A Safe Deposit Box is an individually secured container used to store and protect your valuables that can be opened only with your assigned key. Safe Deposit Boxes are available at most of our branch offices.

Stop Payment Fee

A stop payment fee is incurred when you request that SunTrust not pay a check or payment you have written or authorized. The fee is $36 each time you request to stop a payment. Refer to your Fee Schedule and Rules & Regulations for Deposit Accounts disclosure for additional information.

SurePaySM

SurePaySM is an automatic debit from your checking or savings account to make a payment on your SunTrust mortgage account.

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Transfer

A transfer is a transaction in which money is moved from one place to another. Typically, an Electronic Funds Transfer (EFT) is used when you are moving funds from one account to another, whereas a wire transfer is used when moving funds between banks. A transfer from your SunTrust account to another SunTrust account that you have is known as an internal transfer. A transfer between your SunTrust account and another bank, or from your SunTrust account to a third party, is known as an external transfer. Transfers can be made in a variety of ways, including online, mobile, phone, ATM or branch. Find out more about transfers.

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Withdrawal

A withdrawal is the removal of your money from your account.

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