BB&T offers three main checking account types, each with different fees, minimum balances, and features
BB&T (now operating as Truist following a 2019 merger) offers checking accounts designed for different banking habits and account sizes. The three primary options are Essential Checking, Preferred Checking, and Premium Checking. Each one has its own monthly fee structure, minimum balance requirement, and set of included features—so the right choice depends on how much you keep in the account and what services you actually use.
BB&T does not charge the same fee for all three accounts. Essential Checking carries the lowest monthly maintenance fee and lowest minimum balance, making it the entry point for new or occasional users. Preferred and Premium accounts cost more per month but waive fees if you maintain higher balances or set up direct deposit. The accounts also differ in what you get: some include things like overdraft protection, ATM fee reimbursement, or higher interest rates on savings linked to the checking account.
Key Takeaways
- BB&T's Essential Checking is the lowest-cost option with no minimum balance requirement and the smallest monthly fee.
- Preferred Checking waives its monthly fee if you maintain a $500 minimum balance or set up direct deposit.
- Premium Checking is designed for customers who want higher account limits and additional perks like ATM fee reimbursement.
- All three accounts come with a debit card, online banking, and mobile app access at no extra charge.
Essential Checking: The basic account with the lowest barrier to entry
Essential Checking is BB&T's most straightforward option. It carries a monthly maintenance fee (the exact amount varies by region and changes periodically, so check your local branch or the BB&T website for current pricing). There is no minimum balance requirement to open or maintain the account, which means you can keep the account open even if your balance drops to zero.
This account includes standard features: a debit card, online banking, mobile app access, and the ability to link to a savings account. You get access to BB&T's ATM network without surcharge, but using ATMs outside the network will cost you. Essential Checking does not include overdraft protection by default, though you can request it separately. This account works best for people who do not maintain large balances and want to avoid minimum balance requirements.
Preferred Checking: The middle option with fee waivers for direct deposit or balance
Preferred Checking costs more per month than Essential, but the fee is waived if you meet one of two conditions: maintain a $500 minimum daily balance, or set up direct deposit to the account. This makes it a good fit for people who receive paychecks by direct deposit or who can comfortably keep $500 in the account at all times.
Preferred Checking includes everything in Essential, plus overdraft protection (which lets you overdraw the account up to a set limit, though overdraft fees apply). Some versions of this account also offer a small interest rate on the checking balance itself, though rates are typically very low. The account also usually includes access to a larger ATM network and may waive certain service fees that Essential Checking charges.
Premium Checking: The high-balance account with extra perks
Premium Checking is designed for customers who maintain larger balances or want the most features. It has a higher monthly fee than Preferred Checking, but the fee is waived if you keep a higher minimum balance (typically $2,500 or more, though this varies). Some versions also waive the fee with direct deposit or a combination of direct deposit plus a lower balance threshold.
Premium Checking includes overdraft protection, ATM fee reimbursement (meaning BB&T refunds fees charged by other banks' ATMs), and sometimes a higher interest rate on the checking balance. You also get priority customer service and may have access to additional perks like discounted rates on loans or credit cards. This account is best for people who maintain substantial balances, use ATMs frequently outside the BB&T network, or want the full suite of account features.
How to choose between the three accounts
Start by asking yourself three questions: How much money do you typically keep in checking? Do you receive direct deposit? How often do you use ATMs outside BB&T's network?
If your balance is usually under $500 and you do not have direct deposit, Essential Checking is the cheapest option because you avoid the monthly fee entirely. If you receive a paycheck by direct deposit or can keep $500 in the account, Preferred Checking's fee waiver makes it cheaper than Essential over time. If you maintain $2,500 or more and use out-of-network ATMs regularly, Premium Checking's ATM reimbursement and fee waiver save you money compared to the other two.
You can also start with Essential and move to Preferred or Premium later if your situation changes—there is no penalty for switching. Many people open Essential first, then upgrade once they start receiving direct deposit or build up their savings.
Fees and minimum balances at a glance
| Account Type | Monthly Fee | Minimum Balance to Waive Fee | Direct Deposit Waives Fee? | Key Feature |
|---|---|---|---|---|
| Essential Checking | $5–$10 (varies by region) | None | No | No minimum balance required |
| Preferred Checking | $10–$15 (varies by region) | $500 | Yes | Overdraft protection included |
| Premium Checking | $20–$25 (varies by region) | $2,500 | Yes | ATM fee reimbursement |
Fees and minimum balances vary by region and change over time, so contact your local BB&T branch or check the website for exact current amounts in your area.
What features all three accounts share
Regardless of which account you choose, you get access to BB&T's core banking services. All three come with a debit card, online banking, and a mobile app for checking balances and transferring money. You can link a savings account to any of them, set up bill pay, and receive e-statements. All three also give you access to BB&T's ATM network without surcharge.
The differences are in the extras: overdraft protection, ATM fee reimbursement, interest rates, and customer service priority. None of these are deal-breakers if they are not important to you—the main decision point is the monthly fee and whether you can meet the balance or direct deposit requirement to waive it.
Frequently Asked Questions
Can I switch from one BB&T checking account to another without closing my account?
Yes. You can contact BB&T and request to change your account type without closing the existing account. Your account number and routing number stay the same, so any automatic payments or direct deposits continue without interruption. There is no fee to switch.
Do I have to pay the monthly fee if I do not meet the minimum balance?
Yes, unless you meet one of the fee-waiver conditions (direct deposit for Preferred and Premium, or the required minimum balance). If you fall below the minimum, the monthly fee will be charged. You can avoid this by switching to Essential Checking or by setting up direct deposit if your employer offers it.
What happens if I overdraft my account?
If you have overdraft protection, BB&T will cover the overdraft up to your limit and charge an overdraft fee. If you do not have overdraft protection, the transaction will be declined. Essential Checking does not include overdraft protection by default, but you can request it. Preferred and Premium include it automatically.
Are there any other BB&T checking accounts I should know about?
BB&T also offers student checking and senior checking accounts with different fee structures and features tailored to those groups. Ask your branch whether you may have access to for either of these, as they may offer better rates or lower fees than the three main accounts.
Does BB&T charge fees for things like wire transfers or stop payments?
Yes. Wire transfers, stop payments, and other services typically carry separate fees that apply to all three account types. These fees are not waived by the minimum balance or direct deposit requirement. Check your account disclosure or ask your branch for the full fee schedule.