SunTrust to increase required minimum balance
(WTVR) –Beginning August 24, SunTrust will raise the daily balance a customer is required to keep in an everyday checking account.
The balance amount will be raised from $500 to $1,500, to avoid a seven dollar monthly service fee.
Holders of these accounts will also pay more in overdraft fees.
A SunTrust spokesperson told the Huffington Post the increase reflects the costs of doing business and staying competitive with other banks.