Learn About Truist After the BB&T Merger

Understanding the Truist Merger: What Happened Between BB&T and SunTrust

In December 2019, BB&T Corporation and SunTrust Banks announced plans to merge, creating a new financial institution called Truist Bank. The merger officially completed on December 6, 2020, marking one of the largest bank mergers in recent U.S. history. This combination brought together two well-established regional banks with deep roots in the Southeast and beyond.

BB&T, founded in 1872 in Winston-Salem, North Carolina, operated as one of the largest financial holding companies in the United States. SunTrust Banks, established in 1891 in Atlanta, Georgia, was another major Southeast-based institution. When combined, these institutions served millions of customers across the country through thousands of branches and offices.

The merger created Truist Financial Corporation, which became the sixth-largest bank in the United States by assets. The new entity consolidated operations, branch networks, and digital banking systems over a transition period. During this time, customers from both BB&T and SunTrust experienced changes to their accounts, online banking platforms, and physical branch locations.

Understanding the structure of this merger matters for current customers and those considering banking relationships with Truist. The combination brought together different banking systems, policies, and service offerings into a unified organization. This transition involved careful planning to maintain service continuity while integrating two separate banking operations into one cohesive institution.

Practical Takeaway: If you banked with either BB&T or SunTrust before December 2020, your account is now part of Truist Bank. Recognizing this history helps explain any changes you may have noticed in your banking experience, online platforms, or branch locations.

How Your Accounts Changed After the Merger

When the Truist merger completed, customers from both BB&T and SunTrust saw changes to how their accounts functioned. Neither bank closed customer accounts; instead, they converted existing accounts into the new Truist system. However, the process involved several transitions that customers needed to understand and manage.

Account numbers changed for most customers. BB&T accounts were assigned new Truist account numbers, while many SunTrust account numbers remained similar but were integrated into Truist's systems. This meant that customers setting up automatic bill payments, direct deposits, or other recurring transactions needed to update their account information with employers, service providers, and billers. Banks provided notification periods allowing customers to make these changes before the conversion fully took effect.

Online banking platforms underwent significant consolidation. BB&T customers accessed their accounts through BB&T's online system, while SunTrust customers used a different platform. After the merger, both customer bases moved to Truist's unified online and mobile banking system. This transition required customers to re-enroll in online banking using their new credentials. During the transition period, Truist maintained both old platforms temporarily to prevent service interruptions.

Deposit and loan products were standardized across the merged organization. Different interest rates, fees, and product features between the two banks were gradually aligned. Customers with BB&T savings accounts might have seen changes to interest rates or minimum balance requirements. Loan terms and payment structures were reviewed and modified to match Truist's standardized offerings. Customers received advance notification of these changes with specific effective dates.

Checking account features and perks changed for some customers. Monthly fees, overdraft policies, ATM networks, and rewards programs were consolidated. A customer who enjoyed particular benefits with BB&T or SunTrust might have found those specific features modified or discontinued after merging into Truist's standard product lineup.

Practical Takeaway: Document any automatic payments or recurring transactions tied to your old account. Contact each company (employer, utility companies, loan servicers) to provide your new Truist account number to prevent missed payments or service interruptions during and after the transition period.

Changes to Branch Locations and ATM Networks

One of the most visible changes from the Truist merger involved the physical branch network. Before the merger, BB&T and SunTrust operated separate branch systems with some geographic overlap. After consolidation, Truist analyzed branch locations to eliminate redundancy and optimize its network. This meant that some branch locations closed, while others remained open with updated branding and services.

The merger resulted in approximately 800 branch closures over the integration period. These closures primarily affected areas where BB&T and SunTrust branches were located close to each other in the same neighborhoods or communities. Customers who relied on a nearby branch found that their closest location might have changed. Truist provided advance notice of closures, typically 90 days before a branch shut down, giving customers time to transition their banking activities to nearby open locations.

Branch consolidation followed a strategic pattern. In urban areas with high customer density, Truist retained the branch that offered better facilities or was better positioned to serve the community. In smaller towns or rural areas, the bank kept whichever branch had stronger customer relationships and local presence. Some branches were retained specifically to maintain community service while others closed as part of cost optimization.

The ATM network underwent similar consolidation and expansion. While some ATMs were removed from closed branches, Truist's overall ATM footprint actually expanded in many regions. Truist operates one of the largest ATM networks in the country, with access to thousands of machines nationwide. Customers gained expanded ATM access through the Allpoint network and other ATM-sharing agreements, partially offsetting the loss of ATMs at closed branches.

Branch services and staffing were restructured to reflect Truist's operational model. Some full-service branches became limited-service locations. Mortgage offices, investment advisory services, and specialized banking services were consolidated into regional centers rather than maintaining them at every branch location. This meant customers seeking specific services might need to visit a different location or contact a regional office.

Practical Takeaway: Visit Truist's website or call customer service to identify your nearest open branch and locate ATMs near your home or workplace. If your former branch closed, locate alternative branches and ATMs now rather than discovering limited access when you need banking services.

Understanding Truist's Current Products and Services

After the merger integration, Truist offers a comprehensive range of banking products designed to serve consumers and businesses. The bank provides traditional banking services combined with digital capabilities that developed from both predecessor institutions' innovations.

Checking and savings account options form the foundation of Truist's retail banking. The bank offers several checking account tiers with varying fees, minimum balance requirements, and features. Truist Checking, Truist One Checking, and premium checking options serve different customer needs. Each account type includes online banking, mobile banking access, and ATM network membership. Savings accounts range from basic savings to money market accounts offering higher interest rates for larger balances.

Credit products include personal loans, auto loans, home mortgages, and credit cards. Truist's mortgage services operate through dedicated mortgage divisions offering conventional loans, FHA loans, VA loans, and other specialized mortgage products. Auto lending services provide financing for new and used vehicles. Personal loans and lines of credit serve customers needing funds for various purposes. Credit cards offer different rewards structures and benefit levels depending on the specific card product.

Investment and wealth management services are available through Truist Wealth, the bank's dedicated advisory division. Services include investment management, retirement planning, estate planning, and trust administration. These services are primarily designed for customers with substantial assets who benefit from professional financial guidance. Truist also offers brokerage services allowing customers to trade stocks, bonds, and mutual funds.

Business banking services support small, mid-sized, and large commercial clients. Business checking and savings accounts come with specialized features for business operations. Commercial lending, equipment financing, lines of credit, and cash management services address business-specific financial needs. Business owners also access payroll processing, merchant services, and fraud protection tools through Truist.

Digital banking capabilities include a mobile app, online banking portal, bill pay services, peer-to-peer money transfer, and digital wallet integration. Truist's digital platforms allow customers to manage accounts, transfer funds, deposit checks via mobile, and monitor account activity from computers or smartphones. The bank continues developing digital features to meet changing customer preferences for remote banking.

Practical Takeaway: Review your current Truist account type and the products you're using. Visit Truist's website to explore whether different account tiers, loan products, or services might better match your current financial situation or future goals.