Get control over your savings and start moving toward financial confidence with Essential Savings, an easy and convenient way to start a savings plan for any budget. Whether you’re building on what you already have, or just starting to set money aside for your personal goals, this account makes saving a little easier.
For more information, please see the Essential Savings Account Overview Guide.
1 Account must maintain a minimum balance of $.01 to avoid account closure.
2 Electronic/Online statement provided through Online Banking each statement cycle. Clients must select the option to no longer receive paper account statements through U.S. mail. Online Banking is required to access paperless online statements.
At the Bank's discretion, rates and yields are subject to change without notice after the account is opened. Interest is calculated and compounded daily on the collected balance in your account and credited to your account quarterly. Fees may reduce earnings.
Excessive Withdrawal Fees. For savings accounts, an excessive withdrawal fee of $6 is assessed regardless of balance, for each excessive withdrawal if more than six withdrawal transactions are paid during the monthly statement cycle or a calendar month for quarterly statements with a maximum of 6. Applicable fees are assessed at the time of withdrawal. Please see Fee Schedule for further details.
Withdrawal Transaction Limitations. Savings and money market accounts are governed by federal regulations, which limit the number of certain types of transactions. From your savings or money market accounts, you are limited to six preauthorized, telephone or on-line transfers to your other SunTrust Bank accounts or to third parties. Additionally, this limitation includes checks, drafts, or similar orders you make payable to a third party. The limitation applies per statement cycle for monthly statements or calendar month for quarterly statements. Due to IRS regulations, these transfer options are not available for money market IRAs. In determining when a transfer is made, the bank will use the date the transfer is paid. If you routinely exceed these withdrawal limitations on your savings or money market accounts, the bank may close the account or convert the account to a checking account. The foregoing limitations do not apply to withdrawals made by you or transfers to other accounts, which you have with us when these transfers are made by messenger, in person or through ATMs. The federal regulatory limit applies regardless of account balance.
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Having an emergency fund is a crucial first step in your mission to save, and once you’re well on your way to building one, it’s time to start thinking long term. Get started now.
For more details about Wire Transfers with SunTrust, call 800.947.3786
SunTrust Incoming wire instructions:
SunTrust Incoming wire instructions are also available by calling 800.947.3786 - option 1
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