SunTrust Personal Banking

By: EconomyWatch   Date: 8 September 2010

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Introduction
SunTrust Personal Banking covers a wide area of Financial Responsibilities. It provides Banking Services, Borrowing Services, Investment Facilities, Insurance facilities and Wealth management Services to millions of people.

SunTrust Banking Services
SunTrust Banking Services include Chequing Accounts, Savings Accounts, Credit Card facility, Gift Card facility and High Net Worth banking Services.
Now we will discuss these facilities one by one.

Chequing Accounts provided by SunTrust Personal Banking are the following:

Free Chequing Account

Beneficial Features:
Account holders are not required to maintain minimum balance in their account.
This account has no monthly Maintenance Fee.
Customers get the facility of unlimited cheque writing.
Account holders are free to carry out unlimited teller transactions.
Account holders get Online banking facility. Using this online banking service, customers can pay their bills free of cost.
Account holders enjoy Overdraft Protection option
Account holders are entitled to free use of SunTrust ATMs
Customers get the facility of free automated phone banking.

Customers get a Free SunTrust Visa Check Card with SunTrust Rewards along with the account.
Account holders get Discounted Identity Theft Protection.
They also get the facility of credit monitoring.

Select 50 Chequing Account

This account offers all those facilities that are provided by Free Chequing Account. But, this Select 50 Chequing Account is available only to the persons who are of 50 years of age and above. It is perfect for the people who are above 50 and keep lower balances in their account.

Smart Solution Chequing Account

Features:
Customers get the facility of unlimited cheque writing.
Account holders get Online banking facility. Using this online banking service, customers can pay their bills free of cost.
Customers get a Free Classic Check Card with SunTrust Rewards along with the account.
Account holders get the facility of 0.25% interest rate reduction from the standard rate in case of Home equity Loan or installment loan.
Customers get the facility of free automated phone banking.
Account holders can use SunTrust ATMs without paying any charges.
They are entitled to the facility of two non-SunTrust ATM transactions for every statement cycle.
The minimum deposit required to open this Smart Solution Chequing Account online is $100.
Account holders have to maintain Minimum Daily Combined Collected Balance of $1500.
They are required to pay $9 per month if they fail to maintain the minimum balance requirement.

Preferred Chequing Account

Features:
Account holders get the facility of Free Travelers Cheques.
Customers enjoy the facility of Free Money Order and Cashier Cheques.
Account holders get Online banking facility. Using this online banking service, customers can pay their bills free of cost.
Customers receive a No Annual Fee Platinum Visa Credit Card with SunTrust Rewards along with their Preferred Chequing Account
Account holders get the facility of 0.25% interest rate reduction from the standard rate in case of Home equity Loan or installment loan.
Customers enjoy Overdraft protection options.
Customers are entitled to free use of SunTrust ATMs.
Account holders get Free Gold Check Card with SunTrust Rewards.
Customers get the facility of Unlimited Cheque writing.
The minimum deposit required to open this Smart Solution Chequing Account online is $100.
Account holders are required to maintain Minimum Daily Combined Collected Balance of $2500.
If they fail to maintain the minimum account balance they have to pay $9 per month.

Signature Advantage Chequing Account

Features:
No Minimum Deposit Money is required to open this Signature Advantage Chequing Account.
The account holders have to maintain minimum daily collected balance of $25000 or $50000 Total Relationship Balance
If the Balance Requirement Criteria is not fulfilled by the account holders then they are required to pay $25 per month.
Customers get the facility of Free Travelers Cheques, free Cashier Cheques and free Money Orders.
Account holders get Online banking facility.
Using online banking service, customers can pay their bills free of cost.
Account holders get the benefit of Credit Monitoring
Account holders receive Monthly Summary Statement.
Customers can use SunTrust ATMs without paying any charges.
Account holders enjoy the right to link investment or trust accounts.
Account holders get the facility of 0.25% interest rate reduction from the standard rate in case of Home equity Loan or installment loan.
Customers get free platinum check card with SunTrust Rewards along with the account.
Account holders are offered free small safe deposit box with the account. If they want safe deposit box of larger size, they are provided with that along with $35 discount.
Customers get No Annual Fee Visa Signature Credit Card with SunTrust Rewards along with their Signature Advantage Chequing Account.

Savings Accounts provided by SunTrust are discussed below:

Premium Money Market Performance Account

Features:
Account holders can access their money any time any where they want.
This Account comes with the facility of no minimum withdrawal amount.
Account holders are not required to pay any monthly maintenance fee if they maintain Minimum Daily Collected Balance of $2500.

The other Savings Accounts offered by SunTrust are the following:

Money Market Performance Account
Personal Savings Account
Certificates of Deposit

Credit Card Facility by SunTrust

SunTrust provides different types of Visa Credit Cards which are loaded with benefits and can be used at almost 21 million locations all over the world as all the VISA cards have worldwide acceptance.The Visa Credit Cards offered by SunTrust are the following:

SunTrust Visa Signature Credit Card with signature Rewards
SunTrust Platinum Visa Credit Card
SunTrust Platinum Visa Credit Card with SunTrust Rewards

Other than these Credit Cards SunTrust also endows its customers with Gift Card facility by providing them SunTrust Visa Gift Card.High Net Worth Banking Services by SunTrust

This service refers to a special initiative of SunTrust to serve the High Net Worth individuals in a special way. They are provided with special Deposit Services, special Business Services, special Investment services and special Credit advisory services.

SunTrust Borrowing Services

SunTrust Borrowing Services is made up of the following services:

Mortgage Services
Affordable Lending Solution Services
Home Equity Loans
Installment Loans
Education Loans
Automobile Loans
Marine Loans
Physician Loans

SunTrust Investment Facilities
SunTrust helps its customers to manage their portfolio efficiently. They help in Retirement Planning, Education Planning and in many other different areas of investment planning.
SunTrust provides its customers the option of

  1. Online Investing
  2. Telephone Investing
  3. Signature Advantage Brokerage

SunTrust offers a host of investment products and services including

  • Mutual Funds
  • Equities
  • Annuities
  • Bonds and other Fixed Income Securities
  • Investment Advisory Programs

One can easily choose from the different Retirement Plans provided by SunTrust according to their personal needs and preferences.The Retirement Plans offered by SunTrust are the following:

Traditional Individual Retirement Accounts (IRAs)
Roth IRA
Simplified Employee Pension IRA
Savings Incentive Match Plan for Employers (SIMPLE) IRA

SunTrust Insurance FacilitiesSunTrust offers its customers a wide range of insurance services starting from basic income protection to highly sophisticated insurance plans. SunTrust offers insurance services from some of the most famous insurance companies of the world.
The different insurance services provided by SunTrust are the following;

Simplified issue Term and Whole Life Insurance
Financial and Estate Planning Insurance
Business Planning Insurance
Disability Planning Insurance

Last but not the least, the Wealth Management Services of SunTrust include:
Asset Management services
Credit Advisory services
Trust Services
Diversification strategy solutions

 

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