Deal has ended, you can find a $300 bonus here or more bank account bonuses by clicking here.
Update 2/23/22: Readers are reporting receiving the following e-mail:
Dear XXXXX,
During our final review, we noticed that you did not meet all qualification requirements of the offer, therefore, the reward will not be processed.
Be sure to check the My Truist Offers site to review your final status or review the Terms and Conditions of the Truist Welcome $500 Checking Offer Q1 2022.
If you have any questions, please contact Truist at 1-844-4TRUIST (1-844-487-8478).
Sincerely,
Truist Offers Team
Accounts are closed as well.
Offer at a glance
- Maximum bonus amount: $500
- Availability: AL, AR, GA, FL, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC
- Direct deposit required: Yes, two qualifying Direct Deposits totaling $1,000 or more within 90 days of account opening
- Additional requirements: Use promo code
- Hard/soft pull: Soft pull
- ChexSystems: Yes
- Credit card funding: None
- Monthly fees: $12, avoidable
- Early account termination fee: None
- Household limit: None
- Expiration date: April 30, 2022
Contents
The Offer
- Truist is offering a bonus of $500 when you open a new checking account and complete the following requirements:
- Use promo code TR1CHK22B
- Complete two qualifying Direct Deposits totaling $1,000 or more within 90 days of account opening
The Fine Print
- Valid for new personal Truist Bright, Truist Fundamental or Truist Dimension checking accounts opened from 2/1/22 through 4/30/22. Enrollment in the promotion is required at account opening using promo code TR1CHK22B to be eligible for a promotion reward. Please refer to the Account Opening and Enrollment section below for instructions.
- Eligible products are limited to new Truist Bright, Truist Fundamental, or Truist Dimension checking accounts. Truist products may not yet be available at SunTrust now Truist branches at the start of the offer.
- A qualifying Direct Deposit is an electronic credit (greater than $0.00) of your salary, pension, Social Security or other regular monthly income deposited into your new checking account by your employer or outside agency. Transfers made from one account to another or deposits made via a branch, ATM, online transfer, mobile device, debit/prepaid card number or the mail are not eligible direct deposits.
- Clients with an existing personal checking account or who have closed a personal checking account on or after 2/1/21 with BB&T or SunTrust now Truist, and/or Truist are not eligible. Account holder must be 18 or older at the time of account opening. Truist employees are not eligible. Offer available only to US residents with a valid US taxpayer identification number. The qualifying checking account must be opened in a Truist branch in one of the following states or online and have a mailing address in: AL, AR, GA, FL, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC.
- The reward will be deposited into the new checking account within 4 weeks of verifying the Direct Deposit qualification requirement. Promotion is only applicable once per checking account and per client. Truist 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.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Truist Bright Checking has a $12 monthly fee this is waived with either of the following requirements:
- Monthly direct deposits over $500 or
- $1,500 average ledger balance
Early Account Termination Fee
I didn’t see any mention of the EATF in the fee schedule.
Our Verdict
Truist is the new name for the merged BB&T and SunTrust bank. Keep in mind you won’t be eligible for this bonus if you’ve held a BB&T/SunTrust or Truist account since 2/1/21. Overall this is a fantastic offer, I’m glad I was lazy in posting the $300 offer so readers can get this $500 offer instead. I doubt we will see a bigger bonus than this anytime soon and the requirements are already easy to meet. We will add this to our list of the best bank account bonuses. At this stage we don’t know what will/won’t trigger the direct deposit requirement.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
Pushed $800.00 from from Schwab brokerage account. Received bonus 2 weeks after meeting the requirement of 15 debit transactions
Does anyone have any thoughts on whether PayPal would work for this bonus? I’ve read through the data points and there’s nothing for or against.
The 2024 bonus, of course. I’m not sure I posted in the right place.
You could always try it… and see if it triggers the tracker. Truist pays out in weeks, not months.
Did anyone get their 1099 for the account opening bonus received in 2022 ?
Nope..wondering this myself if anyone got one?
was the bonus $600 or more? If not – the bank may choose not to send a 1099.
$500.
bonus is $400 now with expiry of 4/14/2023 and a closed account cutoff date of 1/20/22….got to wait for the next one though as I my slot frees up only after April which hopefully will jump back to 500.
I can’t decide if I should go for the 400 dollar offer or wait.
Their standard offer is $200. Similar banks like PNC are $400, and WF at $325. I wouldn’t wait if eligible.
That said, I recently discovered (after the expiration) they had a $1,200 bonus that never saw the light of day that I am aware of.
https://trus21002-public.s3.amazonaws.com/production/pdfs/terms/T1CHKPLUSQ123_TC_011023.pdf
The $400 offer is going to be around until May 15th, based on this one:
https://trus21002-public.s3.amazonaws.com/production/pdfs/terms/CHK23TR1_TC_BRANDED.pdf
Oh wow. How’d you manage to find that?
Reverse engineering – link guessing inside the offers.truist.com website. The current offer is: https://offers.truist.com/offers/48
That one is /49. The other one I listed is /50
Of course, if they never released the offer to the public, there is a chance it wouldn’t payout. There is a chance it would have though because the application validates the code.
Now that I look at the $1200 offer closer, it was targeted.
“Offer is only available to individuals who received a direct communication from Truist”
But, the current $400 offer was too…
any one received 1099-int yet?
not received it either and I closed the account already so I cannot login. I guess we just need to report the 400USD manually
Just came here to ask this. I didn’t either as the person below said, I can’t log into my account either. Guess they aren’t sending them out? It’s bizarre because I opened 12 accounts last year and got 1099 for all of them except Truist and Tastyworks.
Nope. Just called, no record of the $500, said go to a branch for account history. Report as “Prizes/awards,” I think. DId that for a Fidelity promotion, no 1099
Thanks for the update Flip . Does that mean still reporting it, right? Or is that a loophole and we don’t need to report?
Of course you’re supposed to still report it. But if you don’t, I’d think the odds of them finding out is slim.
That is true. Better safe than sorry and you also want to avoid them scanning your entire tax return just because of a “missed” 1099.
DP
1/26: Opened account online
1/30: $501 MONEYLINK SCHWAB BROKERAGE ACH CREDIT
2/1: $501 MONEYLINK SCHWAB BROKERAGE ACH CREDIT
2/2 $400 MKTG PROMOTIONS MISC CREDIT
Had to confirm my identity in-branch.
I’m trying to do push from Chase to Truist so I tried to add an external account on Chase and it’s saying it’s going to do test trial deposit into Truist. Will the nonreal DD work if I do trial deposit and then push money from Chase?
Trial deposits do not stop a “DD” from working to trigger a bank bonus… they just make it glaringly obvious to customer support, if you have to get them involved for any reason.
New offer for 2023 – $400 for new checking account. Terms seem to have some weird language – Offer is only available to individuals who received a direct communication from Truist.
Link: https://www.truist.com/checking/checking-bonus-offer1
I still see Link: https://www.truist.com/checking/checking-bonus-offer1
Offer Eligibility: Offer is only available to individuals who received a direct communication from Truist.
Gadget – Bank Bonus Geek Do you think this is target?
BC That offer is being discussed over here: https://www.doctorofcredit.com/truist-300-checking-bonus-al-ar-ga-fl-in-ky-md-ms-nc-nj-oh-pa-sc-tn-tx-va-wv-or-dc/
Yes, there is a slight risk in trying this one, because we are assuming that if you see the Ad in Google, the bonus will payout. We should know shortly if that is the case because in the past they have paid out pretty quickly.
A couple of comments below on how I got the Ad in Google search to show up. Other people are seeing it on Instagram.
In branch, opening is going to be YMMV, because some bankers are going to see that statement and not want to proceed.
Uggh. Just got the $200 credit and now they double it. Lol
Only if targeted.
Gadget - Bank Bonus Geek its only “targeted” in the same way the Fulton offer was. If a google ad appears when you do a search, you’re good to go
You may be right, Dom. I would definitely save screenshots on this one.
I was able to get the offer to show up in Google Chrome, Incognito mode, searching Google for “$400 bank bonus”. The top Ad was “Open & Earn $400 w/Truist One – Earn $400 w/Truist One”, followed by PNC.
Could I open it in branch?
I don’t think so. There is no option to email yourself a coupon that I see, and a screen capture would be YMMV. I don’t think the online code would work in a branch, even if you convince the banker to try it.
Any way to get them to stop mailing me crap? I closed my account in July 2022, but I’m still getting email updates and physical mailers for life insurance and other junk.
At the bottom of each email…
This is a promotional email sent by Truist Bank. If you no longer wish to receive messages of this type, you may unsubscribe.
I wouldn’t recommend trying too hard to opt out… might miss out on a promotion.
Probably the worst bank ever – get the money and run fast
What’s so bad about them?
I have not enjoyed working with them. Charge me to get checks 🙁