This article was reviewed and updated on August 25, 2021.
Overall bank rating
| 4 |
| 3.25 |
| 3.75 |
| 3.5 |
| 5 |
| 3.9 |
Pros and cons
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Savings
0.01% APY None 0.01% APY None- Pros & Cons
- Details
- No monthly service fees
- No minimum opening deposit
- Low $3 excess withdrawal fee
- Low APY
- Not good if you aren't comfortable banking digitally
- Online-only savings account
- Access to 1,700 branches in 15 states, mostly in the East and Midwest, and in Washington DC
- Interest compounded daily
- FDIC insured
- Pros & Cons
- Details
- Overdraft protection available
- Access to 2,500 ATMs
- $50 opening deposit
- $12 monthly service fee
- $3 out-of-network ATM fee
- $36 overdraft fee
- $12.50 overdraft transfer fee
- Waive $12 monthly fee by either maintaining a $1,500 minimum balance, OR receiving $500 in direct deposits each month
- Access to 1,700 branches in 15 states, mostly in the East and Midwest, and in Washington DC
- Access to 2,500 ATMs
- FDIC insured
- Pros & Cons
- Details
- Terms as short as 7 days
- Interest compounds daily
- Low APY
- $1,000 to $2,500 opening deposit
- Standard-to-high early withdrawal penalties
- No terms over 5 years
- Terms ranging from 7 days to 5 years
- Early withdrawal penalties are either $25 or the interest that would have been earned over a certain number of months, whichever is greater; all interest for terms under 3 months, 3 months interest for terms of 3 to 12 months, 6 months interest for terms of 13 to 23 months, 12 months interest for terms of 24 months or more
- $2,500 opening deposit for terms of 7 to 31 days; $1,000 opening deposit for terms of 31 days or more
- Access to 1,700 branches in 15 states, mostly in the East and Midwest, and in Washington DC
- Interest compounded daily
- FDIC insured
- Pros & Cons
- Details
- Includes paper checks
- Link to your checking account for overdraft protection
- Only available to people who also have a personal checking account with BB&T
- Low APY
- $100 opening deposit
- $12 monthly service fee
- $15 excess withdrawal fee
- Avoid $12 monthly fee by maintaining a $1,000 minimum balance
- Access your money with check-writing privileges
- Access to over 1,700 branches in 15 states, mostly in the East and Midwest, and Washington DC
- Interest compounded daily
- FDIC insured
- Alabama
- Florida
- Georgia
- Indiana
- Kentucky
- Maryland
- New Jersey
- North Carolina
- Ohio
- Pennsylvania
- South Carolina
- Tennessee
- Texas
- Virginia
- West Virginia
Pros
Cons
The BB&T eSavings Account is an online-only option, and like many digital accounts, it comes with no monthly fees and no minimum opening deposit.
Most online savings accounts pay higher rates , around 0.50%, but BB&T only pays 0.01% APY. This rate is more comparable to what a brick-and-mortar bank would pay for an account you have to open in person than what online banks pay.
BB&T also offers specialized savings accounts , including the Investor's Deposit Account, Health Savings Account (HSA), and Young Savers Account.
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Checking
None $50 None $50Pros
Cons
The bank website says the BB&T Bright Banking Account is its most popular checking account. Unfortunately, this option comes with a lot of fees.
You'll pay a $12 monthly fee unless you're eligible to have it waived. You'll pay a $3 fee if you use an out-of-network ATM and a $36 overdraft fee . You can link your checking account to another BB&T account so the bank transfers funds each time you risk overdrawing, but you'll pay $12.50 each time BB&T has to transfer money.
CDs
0.01% APY $1,000 or $2,500 0.01% APY $1,000 or $2,500Pros
Cons
BB&T offers a variety of CD types. Its traditional, fixed-rate BB&T Personal CD comes with terms as short as seven days. Most banks' shortest terms are three months, making BB&T a good option if you want to lock in a fixed rate but need access to your money relatively soon.
If you're looking for non-traditional CDs, BB&T has plenty of options . Regardless of which type of CD you open, BB&T pays low rates. They're comparable to other big brick-and-mortar banks, but you can definitely find higher rates at credit unions or online banks .
Money market
0.01% APY $100 0.01% APY $100Pros
Cons
BB&T offers a money market account, but you must also have a BB&T checking account to open one.
The BB&T High Performance Money Market Account comes with paper checks, making it easier to access your money than if you had a regular savings account. But unlike some money market accounts , this account doesn't come with a debit card. There's a $12 monthly fee unless you maintain a $1,000 minimum balance.
How BB&T Bank works
BB&T has merged with SunTrust to become Truist Bank. However, BB&T and SunTrust still offer separate products, including accounts and loans, and you'll still see a BB&T sign outside a branch location.
BB&T has over 1,700 branches in 15 states and Washington DC. Locations are mostly in the East and Midwest; here's the full list of states:
BB&T has around 2,500 ATMs nationwide. Because BB&T has merged with SunTrust to form Truist Bank, BB&T customers can also use SunTrust ATMs free of charge. If you use an out-of-network ATM, then you'll pay a $3 fee along with any fee charged by the ATM provider.
The BB&T mobile app, U by BB&T, has received 4.8 out of 5 stars in the Apple store and 4.6 out of 5 stars in the Google Play store.
To contact customer service, call BB&T Monday through Friday, from 8:00 a.m. to 5:00 p.m. ET, or Saturday from 8:00 a.m. to noon ET. You can also chat online with a live representative Monday through Friday from 8:00 a.m. to 5:00 p.m. ET.
BB&T accounts are FDIC insured for up to $250,000, or $500,000 if you have a joint account.
Is BB&T trustworthy?
BB&T is accredited through Truist Bank. The Better Business Bureau has given Truist an A+ in trustworthiness . A great BBB rating signifies the company is transparent in how it handles business, has honest advertising, and responds effectively to customer complaints.
Not all large banks have good BBB ratings. For example, Wells Fargo used to have an F, possibly for its fraudulent bank accounts and predatory lending toward racial minorities — now it isn't rated because the BBB is investigating its profile. Truist, on the other hand, doesn't have a scandalous history.
How BB&T Bank compares to similar banks
Most BB&T branches are in the East (especially the Southeast) and Midwest, so we're comparing BB&T to two banks with branches in similar areas: SunTrust and Regions.
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Branch locations 10 states and DC |
Branch locations 15 states |
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Monthly fees Up to $20 |
Monthly fees Up to $18 |
BB&T Bank review vs. SunTrust Bank review
BB&T and SunTrust have combined forces to become Truist Bank, but the two still offer separate products. For the most part, account types and rates are pretty similar. They both offer various types of CDs, so if you want to open a CD, compare and contrast your options between the two institutions.
When trying to decide which bank to open accounts with, your decision may come down to which has a branch closer to your home or more branches in your general area. SunTrust only has locations in the Southeast, while BB&T also has branches in parts of the Midwest and a little farther up the East Coast.
BB&T review vs. Regions Bank review
Like BB&T, Regions has branches in the Southeast and Midwest. Some of the states differ, so your choice might come down to which bank has a location closer to you.
Regions offers similar bank accounts and rates as BB&T. The main differences are with CDs. BB&T offers much more variety in the types of CDs it offers — but you can earn significantly higher rates through Regions if you meet certain criteria.
Via PakApNews