See if you qualify for up to $1,000 in Truist Bank's $240 million settlement (and learn how to never pay overdraft fees again)

If you're a current or former Truist Bank customer, you may be eligible for a payout of up to $1,000 stemming from the bank's $240 million settlement over ATM and debit card overdraft fees.

The agreement dates back to a 2010 complaint alleging that overdraft fees charged by Truist, then known as SunTrust Bank, amounted to interest charges and were therefore subject to Georgia's usury laws, which cap interest rates.

Eligible account holders may receive payments of between $5 and $1,000, depending on how much they were charged in fees.

SunTrust officially became Truist on December 6, 2019, following a merger with BB&T.

Truist did not respond to a request for comment about the settlement. In court filings, it denied any wrongdoing and said it was settling to avoid the burden and expense of continued litigation.

Here's what you need to know about Truist's $240 million settlement, including who is eligible, how to file a claim and how to avoid paying overdraft fees in the future.

To file a valid claim, you must have or had an account with SunTrust Bank (now Truist) that was not closed before June 1, 2010. 

You must also:

• Have been a resident of Georgia between July 12, 2010, and October 6, 2017.
• Have incurred at least one overdraft of $500 or less resulting from an ATM or debit card transaction between July 12, 2006, and April 15, 2014.
• Have paid any overdraft fees as a result of the transaction
• Have not received a refund of those fees.

Approximately 464,000 account holders were identified and sent notices about the settlement by email or postcard. 

If you're not sure whether you qualify, you can go to the settlement website, call the Settlement Administrator at 877-239-8765 or email info@SunTrustOverdraftClassAction.com.

You can also write:

SunTrust Overdraft Class Action
Settlement Administrator
P.O. Box 2873
Portland, Oregon
97208-2873

Eligible class members may receive between $5 and $1,000, depending on the amount they paid in qualifying overdraft fees. Payouts also depend on the number of valid claims submitted and the total value of all claims.

To receive a payment from the settlement, you must submit a valid claim by Sept. 14, 2026. You can file online here or download the claim form and mail it to the settlement administrator.  

You'll need the unique ID and PIN sent to class members.

The deadline to be excluded from  or object to the settlement was  April 20, 2026

The settlement was approved in a final fairness hearing on May 26, 2026. If there are no appeals, attorneys' fees and the lead plaintiffs will be paid first.

The remaining funds will then be distributed among other class members who have submitted valid forms, either via Zelle deposits or by paper check mailed to the address provided. 

An overdraft fee is a charge your bank applies when you spend or withdraw more money than is available, causing the balance to drop below zero.

Overdraft fees can range from $25 to $35. (Federal limits on these fees were repealed, so individual institutions determine their own rates and limits.) Larger banks usually charge a penalty per overdrawn item, but since one overdraft can create a cascade effect, they often limit how many times they will charge you in a single business day.

Some online banks and credit unions have gotten rid of overdraft fees, but that usually means your debit card or ATM transactions are simply declined at the register. For paper checks or automated payments, the item may still bounce, but the bank won't charge you a Non-Sufficient Funds (NSF) fee.

The merchant or payee may still charge you a returned-item fee for the failed transaction.

One of the easiest ways to avoid overdraft fees is to monitor your account balance and make sure you have enough to cover any transaction.

If it's available, you can also set up overdraft protection, but there may be fees associated with it.

While autopay is a great way to avoid forgetting about recurring payments, you may want to avoid it if you're concerned you may not have enough in the account in any given month.

A number of leading banks have done away with overdraft fees.

1. Capital One

With Capital One 360 Checking®, transactions are generally just declined if you have an insufficient balance. You can also set up overdraft protection by linking to a savings or money market account at no additional cost.

There's no monthly maintenance fee or minimum balance requirement and account holders have access to a network of over 70,000 free Capital One®, MoneyPass and Allpoint® ATMs.

2. Citi

Citi Access Checking doesn't come with fees for overdrafts or returned items. There is a $5 monthly maintenance charge, but it can be waived with a minimum of $250 in enhanced direct deposits each month.

3. Wells Fargo

Wells Fargo Clear Access Banking customers don't pay overdraft or returned item fees. The $5 monthly maintenance fee can be waived with $250 in monthly direct deposits and for account holders ages 13 to 24.

4. Ally Bank

Ally Bank permanently eliminated overdraft fees in 2021. If you have an Ally Bank Spending Account, the free CoverDraft feature can temporarily cover overdrawn transactions (up to $100 with the basic plan, or up to $250 with qualifying direct deposits). You can also set up automatic transfers from your linked Ally Online Savings or Money Market account to your spending account in $100 increments.

5. Alliant Credit Union

With an Alliant Credit Union High-Rate Checking account, there's no overdraft fee, no monthly maintenance fee and no minimum balance requirement. Account holders enjoy 0.25% APY and $20 reimbursement per month for non-network ATMs.

6. Truist Bank

While Truist is settling a suit dating from its days as SunTrust, there are no overdraft fees with a Truist One Checking account. In addition, the Balance Buffer allows a negative balance of up to $100 for qualifying clients, so transactions go through at no extra charge.

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