Truist $1,000 Checking + Savings Account Bonus

Truist (formerly SunTrust) is offering a $1,000 bonus when you open both a new checking and new savings account with them! See the details of this deal and learn about a “secret” that will give you a 60% return on your money for just depositing 1¢!

For more current bank offers, see our bank bonuses page. The most popular offers are from Chase BankSoFi, U.S. Bank, and Axos Bank.

Ninja Update 4/19/23: Offer now only requires you to open a checking account, but the bonus has decreased to $400.

This post may contain affiliate links, meaning I get a commission at no cost to you if you decide to make a purchase through my links. Visit this page for more information. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

About Truist

In 2019, two well-known banks, BB&T and SunTrust, merged to become Truist Bank. So while the Truist name is new, it’s managed by experienced professionals.

I wanted to mention that because understandably, people get nervous when they’re dealing with unknown brands. Knowing this isn’t some fly-by-night bank will put people’s minds at ease and instead they can focus on this big promo Truist is offering.

Hat tip to reader Dan S., for alerting me about this deal.

BB&T and SunTrust is now Truist Bank

Truist $1,000 Bonus Offer

Truist is offering a bonus of $1,000 when you open a new personal checking account with them and complete the of the following requirement:

  • Set up and receive a qualifying direct deposits totaling at least $500 within 90 days of account opening
  • Open any SunTrust savings or money market account (MMA), and deposit the balances below within 30 days and maintain for 90 days after account opening:
Deposit BalanceBonus
Less than $10,000$300
$10,000 – $24,999.99$400
$25,000 – $49,999.99$600
$50,000 – $99,999.99$800
$100,000 or more$1,000

Both accounts must be opened on the same day and with the same account ownership to be eligible for the reward. Amount of reward is based on the balance through day 30.

Truist $1,000 checking bonus offer
(Image from Truist)

Where Do I Enroll?

This is an online-only offer that’s not available at a physical Truist branch. It’s only valid through the direct link that I’ve provided below.

Additionally, the $1,000 bonus is only available to residents of the following states:

  • Alabama (AL)
  • Arkansas (AR)
  • Georgia (GA)
  • Florida (FL)
  • Maryland (MD)
  • Mississippi (MS)
  • North Carolina (NC)
  • South Carolina (SC)
  • Tennessee (TN)
  • Virginia (VA)
  • District of Columbia (D.C.)


What Are The Details?

Availability: AL, AR, FL, GA, MD, MS, NC, SC, TN, VA, and D.C.
Expiration: 03/31/2021 05/15/23
Household Limit: None (everyone in your family can get the bonus!)
Direct Deposit Required: Yes, $1,000 (see what counts as a direct deposit)
Hard/Soft Pull: Soft (as long as you opt out of overdraft protection)
Early Account Termination Fee: 180 days or bonus is forfeited

Avoiding Fees

I recommend opening the Essential Checking for the checking account and the Advantage Money Market Savings for the savings account. Although they have a monthly maintenance fee of $7 and $17, respectively, both of the monthly fees can be avoided if you do the following:

Truist Essential Checking

The monthly fee of $7 will be waived if you do one of the following:

  • Make 10 or more client-initiated transactions per statement cycle OR
  • Make $500 or more in total qualifying monthly direct deposits per statement cycle OR
  • Keep a $500 minimum daily collected balance OR
  • Open as a student and receive a 5 year Student waiver

Truist Advantage Money Market Savings

The monthly fee of $17 will be waived if you do one of the following:

  • Setting up automatic transfer(s) totaling at least $100 per statement cycle OR
  • Maintaining a $10,000 minimum daily collected balance.

$1,000 Bonus Terms & Conditions

  • Enrollment in the promotion is required and must be completed in the Promotions Center using Promo Code CHKQ123TRUIST1 and indicating the last four digits of the checking account number opened.
  • Offer Eligibility: Clients with an existing personal checking, savings, MMA, CD, or IRA deposit account with SunTrust (either as the primary or joint account holder) are not eligible. You must not have closed a personal checking, savings, MMA, CD, or IRA deposit account within 180 days of the promotion start date. The new checking and savings/money market accounts must be opened on the same day and with the same account ownership. CD and Individual Retirement Accounts (IRA) are not eligible for this offer. Primary account holder must be 18 or older at the time of account opening. Truist employees and/or employee-designated accounts (as the primary or joint account holder) are not eligible. Offer available only to U.S. residents with a U.S. address and a valid U.S. taxpayer identification number. The qualifying checking account must have a mailing address in the following states: Alabama, Arkansas, Georgia, Florida, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, or the District of Columbia.
  • Reward Processing: Reward will be deposited into the new SunTrust checking account within 4 weeks of verifying all qualification requirements. Promotion is only applicable once per account and per client. SunTrust may report the value of any offer reward received to the IRS as required by law. Any applicable taxes are the responsibility of the recipient.

The Bottom Line

Assuming you put the minimum deposit balance required for each bonus tier, here’s what the return on your money would be for maintaining the deposit in Truist for 90 days:

Deposit BalanceBonusReturn
Less than $10,000$30060%*
$10,000 – $24,999.99$4004%
$25,000 – $49,999.99$6002.4%
$50,000 – $99,999.99$8001.6%
$100,000 or more$1,0001%

The table makes it obvious that as you chase the higher bonus amounts, the percentage of return diminishes.

However, given the current interest rate environment on savings accounts, all bonus tiers are still good options. You also have to consider that these are returns for three months compared to the rate offered on savings accounts over an entire year.

*My recommendation = complete a direct deposit of $500 into the checking account and deposit just 1¢ into the money market savings account to earn a $60% return.

The terms and conditions state you’ll get a $300 bonus for ANY amount that is less than $10,000. Well, technically that makes 1¢ okay for this bonus 😀

I’ll add this to my list of the best bank bonuses.

About John Pham

John Pham is a personal finance expert, serial entrepreneur, and founder of The Money Ninja. He has also been fortunate enough to have appeared in the New York Times, Boston Globe, and U.S. News & World Report. John has a B.S. in Entrepreneurship and a Masters in Business Administration, both from the University of New Hampshire.

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