SunTrust Bank International Transfers & Exchange Rates
With $396 billion in deposits and $297 billion in loans, SunTrust Bank, which merged with fellow regional bank BB&T to become Truist in 2019, is now the seventh-largest bank in the United States.
In this guide, we will cover SunTrust bank exchange rates and fees, pros and cons and key questions.
About SunTrust Bank
While SunTrust and BB&T have combined to form Truist, the two banks will continue to provide their respective products for the time being. Customers can open money market accounts, CDs, savings accounts, and checking accounts under the SunTrust name. SunTrust also provides loans, credit cards, mortgages, investment services, and other financial products and services. SunTrust also provides foreign currency exchange services.
When it comes to banking, SunTrust gives clients a more personalized experience. Each customer care agent is helpful and polite, whether you contact them by phone or through the website's live chat option. You'll be able to learn more about the bank's services and feel more secure about your financial decisions as a result.
SunTrust Bank Exchange Rates and Fees
Existing SunTrust and BB&T accounts eventually were converted to Truist bank accounts. The costs levied by each bank have no clear data on exchange rates and fees for Truist bank at this time. Depending on the total amount being transferred and the currency foreign currency that needs to be converted, you can find different SunTrust Bank foreign currency exchange rates and fees.
SunTrust Bank Exchange Rate
Apart from the mid-market rate referred to as the true value of foreign currency conversion, banks usually charge hidden costs known as “mark-ups”.
If you are looking for SunTrust Bank exchange rate and mark-ups, it doesn't say how much of a markup they apply to the exchange rate. Instead, each day, SunTrust and BB&T choose an exchange rate from a pool of prices accessible in the wholesale currency markets.
Customers "assume all risks of foreign currency exchange rate variations between the time you begin and the time you execute an international wire request," according to BB&T.
SunTrust Bank Transfer Fees
SunTrust and BB&T charge the following fees for overseas transfers:
Outgoing international transfer from SunTrust: $50.00
Outgoing international transfer from BB&T: $65.00
Additional Costs
Apart from SunTrust Bank exchange rates, when you receive an international money transfer from SunTrust, there is a charge of $30.00. It's also worth noting that when sending a transfer, the receiving bank may charge you extra costs.
How Do SunTrust Bank Transfer Fees Compare to Using a Money Transfer Provider?
While it is hard to tell for sure whether Truist and SunTrust exchange rates and transfer costs match SunTrust and BB&T's current prices until further information is available, you might be able to find a cheaper method to send money overseas with a money transfer operator using the current data available online.
SunTrust Bank Pros and Cons
Here's all you need to know about SunTrust's advantages and disadvantages before deciding if it's the appropriate bank for you.
Pros
Cons
How to Open an Account and Transfer Money With SunTrust Bank
SunTrust Bank offers the following options for opening an account and transferring funds:
Opening an Account
You can't open a Truist bank account right now, either online or in person. Any account you create with BB&T or SunTrust, on the other hand, will eventually be converted to a Truist account. If you wish to join the bank, you may do so by going to BBT.com or SunTrust.com, or by going to a local branch and opening a new account. You'll need to give the following information:
Your complete name and contact information
Number assigned by the Social Security System
If you're moving from another bank, you'll need your existing bank details.
Transferring Money
Money may be transferred via the BB&T or SunTrust mobile applications, or by visiting a branch. You will need to supply the following information:
Your recipient's IBAN or account number's BIC/SWIFT code
Account number for your debit card
Identification/social security number
The amount you'd want to send
Your recipient's complete name and address in the currency you need to convert your funds to
Bank accounts of the recipient (account number, name, and identifier code)
Additional Information
You have several alternatives when it comes to making an online deposit. Make an electronic transfer, use Mobile Deposit to snap a picture of a check, or deposit a check over the phone - all from the convenience of your own smartphone. You may also find a nearby bank or ATM to make a deposit in person if you wish to deposit cash or a check.
Customer Service Details for Users of SunTrust Bank
You may send SunTrusta secure message if you have Online Banking, or you can contact the bank at 1-800-SUNTRUST (1-800-786-8787) or visit a branch.
Phone lines are also available for the hearing impaired clients (TDD compatible equipment required): 800-854-8965, Monday - Friday, 9:00 AM to 5:00 PM ET.
Can I Use SunTrust Bank for International Bank Transfers?
Yes. It's never been faster to transfer funds with SunTrust. When you need to transfer cash fast, SunTrust Wire Transfer is the best option. When you use SunTrust for wire transfers, you get the following benefits:
With multi-level security measures, you can keep your money safe.
Reduce the amount of clerical labor you have to do.
Quickly obtain confirmation reports
By phone or at a branch, initiate one-time or recurring domestic or international wire transfers.
Does SunTrust Bank offer foreign currency exchange services?
Yes, SunTrust Bank offers foreign currency exchange services for international money transfers. However, you should check SunTrust exchange rate margins first.
Summary
When compared to other banks in the sector, SunTrust Bank does not provide the best rates.
While SunTrust's lack of online transparency makes comparing it to other banks a bit more difficult, the financial institution provides a lot of excellent benefits with its diverse products and services. Although SunTrust's interest-bearing accounts and CDs have low rates, the Loyalty Cash incentives may compensate for these low rates.
SunTrust might be a nice alternative if you prefer a smaller, more personal bank that knows your name when you walk in the door. Read the tiny print and understand what you will earn on your account before deciding on a bank. Consider your objectives and, most significantly, how much the account will cost you.
