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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 |
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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
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| Minimum Credit Limit |
$50 |
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| 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 |
| Interest |
Advances are subject to an annual percentage rate (APR) of 18% in all states |
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| Minimum Advance Amount |
$5 |
| Advance Increments |
Advances must be in whole dollar increments |
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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 |
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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
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| Automatic Payment Option |
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| Manual Payment Option |
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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. |
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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 |
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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 (PDF) |
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