BB&T and SunTrust Merge into Truist
The two large regional banks, BB&T and SunTrust, are currently in a process of merging to create the sixth largest banking holding company in the United States. The new issuer, headquartered in Uptown Charlotte, North Carolina, was named Truist. According to the banks’ announcements, the merger is to bring more branches, ATMs and digital innovations for a better banking experience.
“It’s not just about putting together two entities, two great companies, but we’re building something new, something incredible. So it deserved a new name,” Susan Johnson, chief marketing officer at SunTrust banks, says. She describes Truist as “the first financial services brand, the first, built in the digital age, with the scale to transform the client experience.”
In the coming months, all active users will receive additional information on how the impending changes will affect them. But for now, the banks ask customers not to be anxious and just keep using the services as usual, since the transitioning is supposed to take some more time. The existing branches, ATMs, websites, and mobile apps are continuing to work as before for the present. Moreover, all BB&T and SunTrust debit or ATM cards can currently be used at any BB&T and SunTrust ATMs to withdraw cash, without ATM fees.
Both banks assured customers that the following accounts and services will stay unaltered at an early date:
- Checking, savings and money market account numbers,
- Checks and deposit slips,
- Direct Deposit and automatic drafts,
- Paper and online statements,
- ATM cards, debit cards, credit cards, and associated PINs,
- Online and mobile banking,
- Mobile alerts,
- Loans (including mortgages) and lines of credit,
- Treasury Management,
- Merchant Services,
- Brokerage and advisory accounts,
- Trust accounts,
- SunTrust Premier exclusive rewards and benefits,
Still, there’s something you are offered to take care of now in order to be prepared for the changes. First of all, make sure your contact information provided to the issuer is correct and update it if necessary. Then, do not forget to check your mail and email from time to time for new important messages from the bank.
Until the merger is over, if you want to get a new bank’s account, you need to open one either at BB&T or SunTrust. When the issuers finally become Truist, all their existing accounts will automatically turn into Truist accounts.
Latest Credit Card Issuers News
A couple of days ago, Norwegian Air, Norway’s largest airline and the ninth-largest low-cost airline in the world, announced a rollout of their new no annual fee credit card in the United States. The airline currently operates direct flights from New York, Los Angeles, San Francisco, Florida, and Boston to Europe and the United Kingdom. […]
Last week, American Express presented an updated Corporate Program with enhanced benefits for the American Express Corporate Green, Gold, and Platinum credit cards. Over the next few months, the issuer will add to the program new or renewed tools and solutions that are implied to be of benefit to both businesses and their employees. These […]
Not so long ago, Citi launched a new feature aimed at current Citi credit cardholders – Citi® Flex Loan. The whole point is that, if you own a Citi credit card, now you may be offered to borrow money from this account’s credit limit and pay it back at a fixed APR, in fixed monthly payments over a set period.
The digital environment is becoming increasingly common these days. This also applies to the credit sector. Most likely, you use credit card apps or at least visit your issuer’s website from time to time. Indeed, online accessibility is highly important for customers. Considering this fact, issuers seek not only to provide high-quality service but also to design a user-friendly mobile app and site interface that will help cardholders quickly find the necessary information or solve an issue.
Wells Fargo & Company has recently announced the release of tap-to-pay contactless consumer credit and debit cards. Wells Fargo cardholders are already familiar with the advantages of digital wallets and are involved in paying for purchases and initiating ATM transactions by means of their mobile phones, while tap-to-pay cards are something new.