Anyone have experience with Suntrust?
Anyone have experience with Suntrust?
Looking to park some ETFs there to take advantage of a promo that requires holding >100K there in some combo of checking + investments. Obviously don't wan to hold that much in checking so was thinking of potentially moving an ETF over there. Thinking some sort of self directed brokerage, but just trying to make sure I can do this without getting hit with crazy fees. I don't plan on making a single trade there.
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Re: Anyone have experience with Suntrust?
What is the promo?caklim00 wrote: ↑Fri Apr 16, 2021 6:01 pm Looking to park some ETFs there to take advantage of a promo that requires holding >100K there in some combo of checking + investments. Obviously don't wan to hold that much in checking so was thinking of potentially moving an ETF over there. Thinking some sort of self directed brokerage, but just trying to make sure I can do this without getting hit with crazy fees. I don't plan on making a single trade there.
Re: Anyone have experience with Suntrust?
Yes...and not a good one. Check their fees. If I remember correctly, the charge 2% or more.
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Re: Anyone have experience with Suntrust?
SunTrust has a branch diagonally across the street from my home. I can walk there in 5 minutes. If it were a better bank, I would immediately start banking there, but every time I look at their offerings and their fees, I realize that SunTrust is not for me.
Re: Anyone have experience with Suntrust?
I don't think the have 2FA. I won't swear to that.
Re: Anyone have experience with Suntrust?
50% rewards bumpanon_investor wrote: ↑Fri Apr 16, 2021 6:02 pmWhat is the promo?caklim00 wrote: ↑Fri Apr 16, 2021 6:01 pm Looking to park some ETFs there to take advantage of a promo that requires holding >100K there in some combo of checking + investments. Obviously don't wan to hold that much in checking so was thinking of potentially moving an ETF over there. Thinking some sort of self directed brokerage, but just trying to make sure I can do this without getting hit with crazy fees. I don't plan on making a single trade there.
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Re: Anyone have experience with Suntrust?
And how does that compare to Bank Of America Premium Rewards, the gold standard?caklim00 wrote: ↑Fri Apr 16, 2021 9:29 pm50% rewards bumpanon_investor wrote: ↑Fri Apr 16, 2021 6:02 pmWhat is the promo?caklim00 wrote: ↑Fri Apr 16, 2021 6:01 pm Looking to park some ETFs there to take advantage of a promo that requires holding >100K there in some combo of checking + investments. Obviously don't wan to hold that much in checking so was thinking of potentially moving an ETF over there. Thinking some sort of self directed brokerage, but just trying to make sure I can do this without getting hit with crazy fees. I don't plan on making a single trade there.
Re: Anyone have experience with Suntrust?
You did look on their web site, right?
I got a CD and checking account with them more than ten years ago, and still have the checking account. I never thought to use them for investments, so I looked just now. Best I can find is this page about self-directed investing.
https://www.suntrust.com/investing-reti ... tiers#self
It's apparently intended for portfolios that are small enough as not to be worth hitting them up for an advisory fee. I don't know what happens if you try to put more than $50K in the account, whether they automatically move you to advisory services or simply nag you incessantly about it. But there are apparently brokerage commissions, which you have to contact them about for information. No, thanks.
I got a CD and checking account with them more than ten years ago, and still have the checking account. I never thought to use them for investments, so I looked just now. Best I can find is this page about self-directed investing.
https://www.suntrust.com/investing-reti ... tiers#self
It's apparently intended for portfolios that are small enough as not to be worth hitting them up for an advisory fee. I don't know what happens if you try to put more than $50K in the account, whether they automatically move you to advisory services or simply nag you incessantly about it. But there are apparently brokerage commissions, which you have to contact them about for information. No, thanks.
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Re: Anyone have experience with Suntrust?
Yes, I looked and there wasn't much information which is why I was asking if someone had a real world experience before I call.22twain wrote: ↑Fri Apr 16, 2021 9:43 pm You did look on their web site, right?
I got a CD and checking account with them more than ten years ago, and still have the checking account. I never thought to use them for investments, so I looked just now. Best I can find is this page about self-directed investing.
https://www.suntrust.com/investing-reti ... tiers#self
It's apparently intended for portfolios that are small enough as not to be worth hitting them up for an advisory fee. I don't know what happens if you try to put more than $50K in the account, whether they automatically move you to advisory services or simply nag you incessantly about it. But there are apparently brokerage commissions, which you have to contact them about for information. No, thanks.
Re: Anyone have experience with Suntrust?
Suntrust small business is a disaster on every level including the new improved web site. Almost criminal passing themselves off as a service.
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Re: Anyone have experience with Suntrust?
Wire transfers require you going in branch
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Re: Anyone have experience with Suntrust?
For what its worth, I've found Bank of America to be pretty good as far as big banks go. Good rewards program and a cash bonus for depositing funds at Merill Lynch.
Re: Anyone have experience with Suntrust?
SunTrust merged with BB&T and their new name is Truist.
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Re: Anyone have experience with Suntrust?
Was a customer for many years, but I closed my checking and savings accts when they wanted to charge me something like $35 for more checks. Thanks, but no thanks.
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Re: Anyone have experience with Suntrust?
My experience is it's a terrible bank.
I also think it's usually a bad idea to get a bank that's not really a major brokerage handle your investments. It just seems they are always behind on technology and just out of their league at every level.
I'd also read the fine print on account closure fees. I've been hit with a $100 fee when I closed a brokerage account at my bank (not SunTrust) despite still banking with them and having a relationship for like 20 years.
It would have to be a pretty massive bonus for me to play this game, probably not worth it.
I also think it's usually a bad idea to get a bank that's not really a major brokerage handle your investments. It just seems they are always behind on technology and just out of their league at every level.
I'd also read the fine print on account closure fees. I've been hit with a $100 fee when I closed a brokerage account at my bank (not SunTrust) despite still banking with them and having a relationship for like 20 years.
It would have to be a pretty massive bonus for me to play this game, probably not worth it.
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Re: Anyone have experience with Suntrust?
I also thought it was the dumbest name they could have possibly come up with.
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Re: Anyone have experience with Suntrust?
Agree. And to make it even worse, the probably paid some consulting firm big bucks to come up with that horrible name.
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Re: Anyone have experience with Suntrust?
But, they are a very good company and pay a nice dividend. The OP may be better off just buying their stock.Mel Lindauer wrote: ↑Sat Apr 17, 2021 7:10 pmI also thought it was the dumbest name they could have possibly come up with.
"Success is going from failure to failure without loss of enthusiasm." Winston Churchill.
Re: Anyone have experience with Suntrust?
Merrill Edge?Outer Marker wrote: ↑Sat Apr 17, 2021 8:34 am For what its worth, I've found Bank of America to be pretty good as far as big banks go. Good rewards program and a cash bonus for depositing funds at Merill Lynch.
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