Truist launches 2 accounts with no overdraft fees

Charlotte, N.C.-based Truist Financial Corp. launched two new accounts under Truist One Banking with zero overdraft fees, available to eligible clients effective July 18.

The Truist One Checking Account has a negative balance buffer of up to $100 for qualifying clients and 10% to 50% more rewards on select Truist credit cards.

The Truist Confidence Account has a zero-cost money transfer facility through Truist bill pay or Zelle, access to more than 2,100 branches, 3,000 ATMs, digital and online banking, and the Truist Contact Center for banking-related queries.

In April, the bank discontinued fees for returned items, negative account balances and overdraft protection transfers for consumer accounts.

These changes, along with the new features introduced on July 18, are expected to result in savings of approximately $300 million per year for clients by 2024.