Truist Bank

Is Truist Bank safe?

For deposits up to the FDICDeposit insuranceA government-backed scheme that repays bank customers up to a set limit if their bank fails, such as the FDIC in the US or the FSCS in the UK.More in the glossary limit, yes. Truist Bank is an FDIC-insured bank with about $548 billion of assets, and its parent had a CET1CET1 ratioA bank's highest-quality capital (mainly shares and retained profits) as a share of its risk-weighted assets. Higher means more room to absorb losses.More in the glossary capital ratio of 10.9% at 30 June 2026 against a 7.0% requirement. The bank is rated A3 by Moody's and A by S&P and Fitch. We score it 74/100, level with U.S. Bank and four points below PNC. What holds it back is a thinner liquidity cushion than the biggest banks, a confirmed 2023 data breach and a long-running overdraft lawsuit that ended in a settlement of up to $240 million.

What the FDIC covers at Truist

All Truist deposits sit in one bank, Truist Bank (FDICDeposit insuranceA government-backed scheme that repays bank customers up to a set limit if their bank fails, such as the FDIC in the US or the FSCS in the UK.More in the glossary certificate 9846). Cover is $250,000 per depositor, per ownership category. Individual, joint, retirement and trust accounts count separately, so a couple can insure well over $250,000 at Truist by using the categories correctly.

One trap is specific to Truist. It was formed in December 2019 when BB&T and SunTrust merged, and the two banks have since become one. If you once kept $250,000 at each, you no longer have two limits. Check your total across all Truist accounts in the same ownership category.

Shares, funds and annuities bought through Truist's investment arm are not deposits and are not FDIC-insured.

Capital and liquidity

The capital buffer is close to four points, and the Fed's stress test gave Truist the lowest possible stress buffer of 2.5%, which means its losses in the severe scenario were modest. The catch is accounting. As a Category III bank, Truist leaves unrealised losses on bonds, $6.7 billion of accumulated other comprehensive losses in June 2026, out of its regulatory capital. By our rough estimate, counting them would bring the ratio to about 9.4%. Regulators proposed in March 2026 to make banks like Truist count most of these losses, phased in over five years.

Liquidity is adequate rather than generous. The coverage ratio averaged 113%, above the 100% minimum but well short of the 165% at Capital One. About 44% of deposits are above the insurance limit, mostly business and wealthy-client money that can move fast in a scare. Against that, Truist reports $212 billion of secured borrowing capacity and cash at the Fed, about 4.8 times its wholesale debt due within a year.

The conduct record

The largest recent matter is private litigation. In Bickerstaff v. SunTrust Bank, filed in Georgia in 2010, customers argued that overdraft fees on debit card and ATM transactions were interest charges above the state's usury limit. After 15 years of rulings and appeals, Truist agreed in January 2026 to pay up to $240 million into a settlement fund, without admitting liability. The court gave final approval on 26 May 2026.

Regulatory actions have been small. On the day the Federal Reserve approved the BB&T and SunTrust merger in November 2019, it issued a consent order against SunTrust over misleading statements to business customers about add-on products between 2013 and 2017; SunTrust had already repaid about $8.8 million in fees. In August 2024 the CFTC fined Truist Bank $3 million for staff using unapproved messaging apps, cut sharply because Truist reported the problem itself.

Data breach and online banking

In June 2024 a hacker offered data said to come from Truist for sale, including records on about 65,000 employees and some bank transaction details. Truist confirmed to BleepingComputer that it had suffered a cybersecurity incident in October 2023, that it was quickly contained, and that it had notified a small number of clients at the time and more after new findings. It said it had found no sign of fraud from the incident. We score digital security lower for a confirmed breach than for a claim that went nowhere.

How to keep your money safe at Truist

1. Add up all your Truist deposits in each ownership category, including old BB&T and SunTrust accounts, and keep each under $250,000.
2. For more cover, use joint, retirement or trust accounts, or open an account at a second insured bank such as PNC.
3. Keep investment products separate in your mind: brokerage accounts are covered by SIPC against a broker failure, not by the FDICDeposit insuranceA government-backed scheme that repays bank customers up to a set limit if their bank fails, such as the FDIC in the US or the FSCS in the UK.More in the glossary.
4. Turn on two-step verificationTwo-factor authenticationSigning in with a second proof of identity on top of your password, such as a code from an app, a security key or a passkey.More in the glossary and transaction alerts in the Truist app. Banks do not have to refund Zelle payments you authorise yourself, so check the payee before sending.

How we scored it

Deposit protectionDeposit insuranceA government-backed scheme that repays bank customers up to a set limit if their bank fails, such as the FDIC in the US or the FSCS in the UK.More in the glossary (85) and capital (76) are Truist's strongest factors: FDIC cover, a buffer close to four points over its requirement and single-A ratings. Digital security (65) is the weakest, after the confirmed 2023 breach. Conduct (68) reflects the $240 million overdraft settlement and smaller Fed and CFTC actions, and liquidity (72) a coverage ratio only modestly above the minimum.