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SunTrust Bank promises to make banking affordable and easy for students by nixing monthly maintenance fees and featuring student-focused benefits. Learn more about SunTrust Essential Checking for Students: the good, the bad and our impressions.
SunTrust Student Checking Promotions?
SunTrust Bank doesn’t typically offer sign-up bonuses for their Essential Checking for students. They do offer bonuses for their consumer Checking accounts pretty much throughout the year. See current SunTrust Checking promotions here. Another bank that offers a good bonus offer with its Checking account is Chase. Read about the Chase College CheckingSM and it’s bonus offer.
- Minimum Opening Deposit: $100
- For a five year student waiver, proof of active enrollment is required.
Waived Monthly Maintenance Fee Of $7
For students, for up to 5 years.
Bank On The Go
SunTrust offers fee-free online and mobile banking with bill pay and mobile deposit.
SunTrust is compatible with Apple Pay, Samsung Pay, SunTrust Masterpass and Zelle – all easy, safe and secure ways to pay digitally.
Get cash back just by using your SunTrust credit or debit card when you make purchases at hundreds of participating retailers.
Personal Banking Resource Center
Get a headstart to personal finance confidence by using SunTrust’s Resource Center. Topics include protecting your social security number, managing your budget with your credit card, and tips for traveling cheap.
|Monthly Maintenance||$0||With proof of active student enrollment for up to 5 years.|
|Non-SunTrust Bank ATM (domestic)||$3||Per transaction, plus operator fees.|
|Non-SunTrust Bank ATM (international)||$5||Per transaction, plus 3% of transaction, plus operator fees.|
|Overdraft/NSF||$36||Per paid or returned item, max 6 items per business day. SunTrust will waive this fee on transactions that are less than $5.|
|Extended Overdraft||$36||Per day, after 5 consecutive business days in the red.|
|Overdraft Protection Transfer||$12.50||Per day for each day a transfer is required.|
|Paper Statement||$3||Per monthly billing cycle.|
|Early Closure||$25||If closed within the first 6 months.|
|Overdraft Closure||$30||If closed in overdraft.|
We’re talking just over 1,300 SunTrust branches and 2,000 ATMs in 11 states and Washington, DC. Check out the coverage map below:
Overdrafting on your SunTrust Essential Checking can cost you dearly. Fees of $36 per paid or returned item and a maximum of 6 items per business day, means you could be charged $216 in overdraft fees in just one day. Further, if your account is negative for 5 consecutive business days, it’ll cost you another $36 per day.
No Yield on Deposits
Unfortunately, SunTrust Essential Checking does not bear any interest, but this seems to be the norm for student checking accounts.
SunTrust Bank lets you have access to many different features for a convenient banking experience. You can do your banking online or via your mobile device – paying bills, transferring money and depositing checks – anywhere at any time. SunTrust Bank has cash back deals, which might make up for the fact that there is zero interest on deposits made to your Essential Checking account. The bank’s Resource Center is also a great way to learn all about personal finance.
As with most banks out there, please keep a close eye on your balance. Overdraft fees are not fun and can burn a gigantic hole in your wallet.
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