It’s not uncommon to occasionally get caught short of money in your account. When that happens, it’s helpful to have a backup plan. SunTrust offers overdraft services to make sure funds are available when you need them. You can add Overdraft Coverage, Overdraft Protection or both services to your consumer deposit accounts.
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How it works: Overdraft Coverage allows you to make an everyday debit card transaction or ATM withdrawal even when your available balance is not sufficient to cover the transaction. FAQs
Overdraft Fees: You may be charged up to $36 for each overdrawn item. However, if you deposit or transfer enough funds to bring your balance positive by cut-off that day, you will not incur any fees. SunTrust will waive the overdraft/returned item fees on transactions that are less than $5. SunTrust limits total Overdraft and Returned Item fees to 6 per day.
SunTrust pays overdrafts at its discretion, which means we can’t guarantee that we will always cover every transaction.
How it works: You link your SunTrust checking account to your other SunTrust checking, savings, money market, credit card or line of credit account and funds will be automatically transferred from your linked protector account when necessary to cover any shortfalls in your protected account.
Overdraft Protection can help you avoid overdrafts and/or declined transactions.1 Once you have set-up Overdraft Protection, you will not incur overdraft fees if you overdraw your account and there are available funds in your protector account.
Note: If your Overdraft Protection account is a savings or money market account, transfers will count towards the maximum number of six withdrawals and transfers per month per Regulation D and bank requirements. Review the Deposit Account Disclosures for more information.
Overdraft Protection Transfer Fees: There is a $12.50 transfer fee for each day a transfer is necessary. You can avoid a fee if you transfer or deposit funds (and no hold is placed on the deposit) to cover the overdraft transaction(s) by the daily cutoff time, on the same business day.
Note: The $12.50 overdraft protection transfer fee does not apply to Overdraft Assurance3 lines of credit and business credit cards. See those account agreements and the Overdraft Protection Transfer Service section of the Deposit Account Rules and Regulations at suntrust.com/disclosures for more information.
How it works: Overdraft Assurance is a type of Overdraft Protection and is a $500-$5,000 line of credit2 designed to cover overdrafts for any of your personal checking accounts. Money is automatically transferred from your Overdraft Assurance line of credit into your linked checking account to avoid going into overdraft. FAQsLink opens a new window
Overdraft Fees: There is a $7 monthly charge assessed to your designated checking account for maintaining this line of credit - regardless of how little or much you use it. There is no overdraft transfer fee3, and if the funds are repaid back to your Overdraft Assurance account before the 4th calendar day, no interest is charged.
1 Overdraft Protection is not available for all SunTrust products or product service areas. The $12.50 transfer fee is applicable for deposit accounts, consumer credit cards, and lines of credit. All advances are subject to funds availability. The $12.50 overdraft transfer fee does not apply to Overdraft Assurance lines of credit and business credit cards. If you use your savings or money market account for Overdraft Protection, each transfer counts as one of the six limited transactions you are allowed each month from your savings account or per statement period from your money market account. If you routinely exceed these limitations, the Bank may close the account or convert it to a checking account. Please refer to our Fee Schedule and Deposit Account Agreement at suntrust.com/disclosures for additional details. If Overdraft Protection is provided by a credit card or line of credit, please also refer to that account agreement.
2 Overdraft Assurance is subject to credit approval, and if approved, transfers will be made up to your available credit limit.
3 A $7 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 4th calendar day after the date advances are posted to your credit line, interest will begin to accrue. Annual Percentage Rates (APR) are fixed and standard. Annual Percentage Rates (APR) could range from 13% to 16% APR. Exclusions and limitations apply.
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Services provided by the following affiliates of Truist Financial Corporation: Banking products and services, including loans and deposit accounts, are provided by SunTrust Bank and Branch Banking and Trust Company, both now Truist Bank, Member FDIC. Trust and investment management services are provided by SunTrust Bank and Branch Banking and Trust Company, both now Truist Bank, and SunTrust Delaware Trust Company. Securities, brokerage accounts and /or insurance (including annuities) are offered by SunTrust Investment Services, Inc. and BB&T Securities, LLC, P.J. Robb Variable Corp., and Precept Advisory Group, LLC, which are SEC registered broker-dealers, members FINRALink opens a new window, SIPCLink opens a new window, and a licensed insurance agency where applicable. Investment advisory services are offered by SunTrust Advisory Services, Inc., GFO Advisory Services, LLC, BB&T Securities, LLC, Sterling Capital Management, LLC, and BB&T Institutional Investment Advisors, Inc., each SEC registered investment advisers. BB&T Sterling Advisors, BB&T Investments and BB&T Scott & Stringfellow, are divisions of BB&T Securities, LLC. Mutual fund products are advised by Sterling Capital Management, LLC. Mortgage products and services are offered through SunTrust Mortgage, a tradename for SunTrust Bank now Truist Bank.
"SunTrust Advisors" may be officers and/or associated persons of the following affiliates of Truist Financial Corporation: SunTrust Bank now Truist Bank, our commercial bank, which provides banking, trust and asset management services; SunTrust Investment Services, Inc., a registered broker-dealer, which is a member of FINRALink opens a new window and SIPCLink opens a new window, and a licensed insurance agency, and which provides securities, annuities and life insurance products; SunTrust Advisory Services, Inc., a SEC registered investment adviser which provides Investment Advisory services.
SunTrust Private Wealth Management, International Wealth Management, GenSpring, Business Owner Specialty Group, Sports and Entertainment Group, and Legal and Medical Specialty Groups are marketing names used by SunTrust Bank now Truist Bank, SunTrust Investment Services, Inc., and SunTrust Advisory Services, Inc.
SunTrust Robinson Humphrey is the trade name for the corporate and investment banking services of Truist Financial Corporation and its subsidiaries, including SunTrust Robinson Humphrey, Inc., member FINRALink opens a new window and SIPCLink opens a new window.
Thank you for choosing SunTrust now Truist. We welcome the opportunity to serve your financial needs. While SunTrust and BB&T have merged to become Truist, both institutions will continue to offer independent product lines for a period of time. This may include differing underwriting guidelines, product features, terms, fees, and pricing.
Our friendly teammates at your local BB&T branches will be happy to walk you through their products. You can also learn more by contacting them at 1-800-BANK-BBT or BBT.com.