How to Buy Crypto with Suntrust Bank
Summary: While Suntrust Bank doesn’t offer crypto trading on its own platform, you can easily use your account to buy crypto using a third-party crypto exchange.
There are plenty of crypto exchanges to choose from, we recommend using eToro as the exchange to work with.
They have most of the popular cryptocurrencies available, are easy to work with, and have fantastic support!
Buy Crypto with eToro
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As mentioned above, just like most banks, Suntrust Bank doesn’t offer cryptocurrency trading directly, as setting up a crypto trading platform is quite complex and comes with regulations and extra requirements for the banks.
Luckily for us, there are plenty of cryptocurrency exchanges to choose from that you can use to buy bitcoin or any other cryptocurrency you might want.
Once signed up to an exchange (we’ll be using eToro for our example as it’s a widely trusted and global exchange), you can simply transfer funds from your bank account to the exchange, and trade it for crypto.
Table of Contents
How to buy crypto or bitcoin with Suntrust Bank
There are only 4 steps involved, let’s get started!
1. Choose a cryptocurrency exchange
As mentioned above, we’ll be using eToro for this guide as they are a widely used exchange and have over 50 cryptocurrencies to choose from. They also have a few really neat features like “Copy Trading”, which enables users to copy the trades of popular investors on the platform.
Let’s get started!
2. Sign up with the trading platform
The first thing to do is to sign up with the platform.
Once you’ve completed the initial sign-up process, you’ll have to go through a quick verification process (also known as KYC).
3. Funding your account
Next up is funding your account. When it comes to depositing money to your eToro account, you have the option to use a bank transfer, PayPal, credit/debit card, and more.
4. Buy cryptocurrency
Finally, just go to the eToro Markets section, find the cryptocurrency you would like, and buy it.
And that’s it, it’s all pretty straightforward, now you know how to buy bitcoin or most other cryptocurrencies with Suntrust Bank.
About Suntrust Bank
SunTrust is an excellent option for those who live in the Southeast, and want to do in-person banking at a full-service bank.
SunTrust Bank is a bank that serves individuals living in the southeast United States. Truist was formed when the bank merged with BB&T. However, both brands still offer distinct products.
SunTrust offers several CD terms. According to the website, terms can be chosen from seven days up to ten years. The rates displayed on this page for CD terms only showed four terms, ranging in length from six months to 24. SunTrust can help you find a CD that has a different term.
SunTrust CDs require a minimum $2,000 deposit in order to open. Even below the national average, SunTrust's advertised APYs were low.
SunTrust offers the Essential Savings account. The account doesn't require a minimum deposit to open and can be kept open for as long as one year. This makes it extremely accessible to all savers.
The account does not have a monthly maintenance fee. Paper statements are subject to a $3 fee. However, this can be avoided by enrolling in e-statements. The account earns very little interest.
SunTrust offers two types of checking accounts: Advantage Checking and Essential Checking.
To open the Essential Checking account, you will need $100. The Essential Checking account charges a $7 per month fee. However, you can waive the fee by meeting the following criteria: maintain a $500 balance; make at least 10 banking transactions per monthly; and make $500 in qualifying direct deposits each month. Account holders get 10 free checks and 50 percent off their first order. This account does not earn interest.
To open an Advantage Checking account, you will need $100. There is a $20 monthly charge, but you can avoid it if you make $3,000 or more in qualified direct deposits per month, or maintain a minimum of $10,000 combined balance across linked investments and deposits. The checking account earns interest and reimburses ATM fees. Account holders receive a starter pack with 100 checks and 50 percent off their first order.
Zelle offers free peer-to-peer payments to checking account holders.
SunTrust's Advantage Money Market Savings Account offers tiered interest rates, but you can also find higher payouts somewhere else. To find out the exact rates, you will need to contact your bank.
If you do not meet the minimum balance requirements, the account will charge a $17 monthly fee. To waive the fee, you will need to make monthly transfers of at minimum $100 or maintain a minimum balance of $10,000.
Check-writing privileges are available with the money market account.
People who reside in the Southeast will find it easy to locate a branch or ATM. SunTrust also offers a number of highly-rated mobile apps that allow you to manage your account from any location.
SunTrust is a financial institution that serves the Southeast. It has more than 1,000 branches.
Although SunTrust has merged to become Truist with BB&T, both banks still offer their products. Customers can open checking, money market, CDs, savings, and money market accounts under the SunTrust brand. SunTrust offers investment services, including loans, credit cards and mortgages.