Introduction
SunTrust Bank, Inc was an American bank holding company with SunTrust Bank. The company’s roots are located in Atlanta and came into existence in 1888, its headquarters are also located in Atlanta only. The bank has 1,400 bank branches and 2,160 ATMs across 11 southeastern states and Washington D.C. The bank’s primary business includes deposits, lending, credit card, and trust and investment services. Here we will see about Where can I deposit cash for SunTrust?
Where can I deposit cash for SunTrust?
When it comes to depositing cash in SunTrust bank, the person will need to go to the bank and fill out a deposit slip with your information and the type of deposit. All SunTrust banks have the deposit slip available.
What are the steps of depositing cash/cheque in a SunTrust bank?
Step 1
All the information needs to be written on the SunTrust deposit slip. This also includes the person’s full name and date of transaction. The name of the person depositing the cash doesn’t need to be mentioned, just the name of the account holder for which the deposit is being made. Step 2
Write down your given bank number in the designated area. Write out the account number by putting every number in each box one by one.
Step 3
The right-hand box of the slip is for filling out the deposit amount, there is a section for cheques and one for cash. If the person is making a cash deposit they will need to fill out the entire amount, specifying the whole dollar amount in the cash area and any change in the coin area. If there is a cheque, write out the amount of each cheque individually, there is an area in the back as well if there are a lot of cheques and the space is not sufficient.
Step 4
The amount which you wish to keep in the less cash received section has to be mentioned by you, later this amount would be returned to you by the bank teller in cash and will not be deposited in the account. The total amount needs to be added which is supposed to be deposited including all checks and cash, then subtract the less cash received amount. The remainder of the amount would be the depositing amount, so write the total in the box given. Take the deposit slip and any cheque or cash to the bank teller for the deposit.
What is the current name of SunTrust Bank?
In late 2019, the SunTrust Bank was purchased and merged with BB&T and is now named Trust and became the sixth-largest bank in the United States based on assets according to the FDIC data, whose main headquarters is located in Charlotte. Since the merger, SunTrust and BB&T were operating separately under different names but as of January 2022, both are operating under the umbrella of Trust.
What are some of the duties performed by the SunTrust bank?
- Checking
- Savings
- CDs
- Money Market Account
- Debit Card
- Prepaid Card
- Premier Banking
- Online and Mobile Banking
- Retail
- Small business and commercial banking
- Payments
- Real estate
- Mortgage
- Wealth Management
Is SunTrust Bank a good bank?
It has earned a reputation of being a trustworthy bank by its clients and it has also played a big role in recapitalizing regional investment. The stable nature and the immense growth all these years, with its branches and affiliates in seven states and the District of Columbia, served as a very important agent in the growth in terms of the economic aspect of the New South. However that does not mean that the bank only has good qualities, there are some pros and cons to every bank.
Pros
- Dedicated to community economic development.
- Full suite of services and products.
- Amazing free online tools and help and learn how to manage finances.
Cons
- Branches are only limited to the Southeastern United States.
- Interest rate only available on call.
- The bank’s quality has gone down a little ever since it merged with BB&T.
- The bad interest rate for loans.
What are the business units of SunTrust Bank?
- Consumer Banking: Total Revenue generated is 32%.
- Corporate and Investment Banking: Total Revenue generated is 20%.
- Private Wealth Management: Total Revenue generated is 12%.
- Commercial and Business Banking: Total Revenue generated is 14%.
- Mortgage: Total Revenue generated is 11%.
- Consumer Lending: Total Revenue generated is 8%.
- Commercial Real Estate: Total Revenue generated is 3%.
What is SunTrust Bank best known for?
SunTrust would be the right bank for clients looking for perks with their basic savings and checking accounts. It may be the perfect fit for clients looking for:
- Wish to bank with a big and well-established institute.
- Have a residence in Alabama, Arkansas, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, and Virginia or the District of Columbia.
- Would prefer to receive cashback offers from their debit and credit card purchases and a bonus for putting cashback in their SunTrust deposit account.
- Need a seamless integration with their digital payment apps.
Conclusion
SunTrust has a traditional cash deposit system where you would have to go to the bank for depositing, these days a lot of banks also have ATMs for depositing cash with the hassle of filling out a deposit slip which is easier for a customer rather than going especially to the bank branch. But SunTrust even after its merger still has a good reputation as a bank in the areas where its services are available, however, a bank is a private holding so it will always first look after it well then comes the customer.
Frequently asked questions
Can a SunTrust customer use a BB&T ATM?
Yes, a SunTrust customer can use BB&T ATM without any additional fee or charges and if they use the ATM outside the BB&T network then the fee will be refunded.
Which bank can be considered the best in the United States?
Chase Bank is considered the best bank with its headquarters located in New York City.
