Disclosure Information

Truist Cash Reserve

Account Enrollment

Truist Cash Reserve can only be opened through Online or Mobile banking

If your account is eligible, there will be an opportunity to enroll within your Online or Mobile banking account

Enrollment Eligibility Requirements

  • You must have a Truist Associated Checking Account for at least six (6) months
  • You must be at least 18 years old in all states where this product is offered, except in Alabama where you must be at least 19 years old
  • You must be a United States citizen or a permanent US resident and reside in one of the following states: AL, AR, DC, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, and WV
  • Your Truist Associated Checking Account must have one or more qualified deposit(s) (any deposit greater than or equal to $100) credited in one (1) of the last two (2) statement cycles
  • Your Truist Associated Checking Account must not be in a continuously overdrawn position for fifteen (15) calendar days or more at time of enrollment or when making an Advance request

Ongoing Eligibility Requirements

All of the eligibility requirements as outlined above must be met on an ongoing basis in addition to the list below in order to remain eligible to initiate Advances

  • The amount of the Advance requested is sufficient to bring your overdrawn Truist Associated Checking Account balance to at least a positive $25 balance
  • Your Cash Reserve account is not currently in a cool-off status1 , 2 due to non-payment
  • Your Truist Associated Checking Account balance must not be continuously overdrawn for fifteen (15) calendar days or more
  • Your Truist Associated Checking Account is open and active and is not currently in a blocked, dormant, or closed status (for fraud, attempted fraud, garnishments and levies, or any other reason)

Credit Limit Amount
Minimum Credit Limit

$50

Maximum Credit Limit

$750

How is the credit line limit determined

The maximum credit line amount is the lesser of $750 or 50% of the total qualified monthly deposits for the prior two (2) Truist Associated Checking Account statement cycles with a $50 minimum credit line

Advances

  • Advances are completed via Online or Mobile banking only. The proceeds of each Advance will be deposited into your Truist Associated Checking Account and will be immediately available. You may request multiple Advances up to your Cash Reserve line of credit limit
  • If your Truist Associated Checking Account has a negative available balance before the Advance is credited, the Advance will first be used to bring your Truist Associated Checking Account balance positive. After the account balance has been made positive the additional funds will be available for use
  • Note: In order for the transaction to be materially beneficial, the Advance must bring the your Truist Associated Checking Account balance to $25 or greater

Interest

Advances are subject to an annual percentage rate (APR) of 18% in all states

Minimum Advance Amount

$5

Advance Increments

Advances must be in whole dollar increments

Availability of Advances

Advances are made immediately available to you in your Truist Associated Checking Account for point of sale transactions. Advances initiated prior to 12:00AM ET will be included in your available balance when assessing overdraft fees (if applicable) during nightly processing

Terms

Once enrolled, your Cash Reserve account will remain open until the account is closed or becomes delinquent. If the account becomes delinquent (not paid as agreed), then a cool-off status1,2 will be applied to the account. No additional Advances will be allowed until the past due amount has posted to your Cash Reserve account

If the Cash Reserve account is not utilized, the Cash Reserve account will automatically be closed after six (6) months of inactivity and you will need to reenroll for a Cash Reserve line of credit. Upon closure of the Cash Reserve account, the eligibility indicator will reappear the next business day and will remain present in your Online / Mobile banking account as long as you qualify

  • All advances are repaid in four (4) monthly installments3
  • When you enroll you have the ability to choose between automatic or manual payments. If you wish to change your payment preference you will need to contact us at 1-844-4Truist
  • Payments are subject to the availability of funds in your Truist Associated Checking Account

Payment Options and Terms
Automatic Payment Option

  • Automatic payments are debited from your Truist Associated Checking Account balance on the morning the payment is due. This debit immediately reduces the available balance of your Truist Associated Checking Account
  • If funds are not available at the time the automatic payment is initiated, the payment will automatically be reattempted in two (2) calendar days
  • If funds are not available at the time of the second attempt, you are responsible for making a manual payment prior to the next payment due date
  • If no payment is received before the next payment due date, both the past due payment and the current payment will be automatically debited from your Truist Associated Checking Account on the next payment due date

Manual Payment Option
  • Payments for this option are made via Online or Mobile banking, using funds from your Truist Associated Checking Account only
  • These payments are immediately debited from your Truist Associated Checking Account at the time the payment is initiated and will reduce your available balance
  • You may make manual payments at any time, even if you are enrolled for automatic payments
Monthly Installment Payments3

Your first three monthly installment payments will be in equal amounts; however, your fourth monthly installment payment amount may fluctuate and may be more than your previous payments, given multiple factors including, but not limited to: the date of your Advance, statement cycle dates, the number of days between payments received, and the outstanding principal balance, which applies to Automatic and Manual Payments.

Cool-Off Status2

If a payment is not received by the payment due date, your Cash Reserve line of credit will be placed in a cool-off status. No additional Advances will be allowed until the past due amount has posted to your Cash Reserve line of credit

Default for Non-Payment

Your Cash Reserve account is considered in default if your payment becomes past due forty-five (45) calendar days or greater. If your Cash Reserve account is in default, you authorize Truist to debit your Truist Associated Checking Account for the entire outstanding balance on your Cash Reserve account, plus any outstanding interest, regardless of the balance in your Truist Associated Checking Account

For more information, refer to the Truist Cash Reserve Agreement and Disclosures

Statements

  • Statements are provided monthly and can be viewed through Online or Mobile banking for up to twelve (12) months
  • You may request that paper statement(s) be mailed to you monthly, at no charge
  • Requests for historical statements greater than twelve (12) months but less than seven (7) years may be obtained, at no charge, by contacting Truist at 844-4TRUIST

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