SunTrust Banks buys and sells money orders. A SunTrust account is not required to purchase or cash a money order at most branches. Fees are generally $5 for SunTrust account holders and $10 for non-account holders. See the table below for more information on SunTrust’s money order policy.
What are Money Orders?
A money order is a very traditional, but straightforward method of payment.
You can compare them to cheques, but unlike cheques, they will not bounce.
Money orders are a type of paper payment guarantee that can be obtained using cash, credit, or debit cards.
You can now purchase a money order at almost any retail establishment.
However, there are several banks that issue money orders.
Truist Bank, also known as Truist Financial Corporations, is an American bank formed by the merger of BB&T and SunTrust Banks.
Does Truist Bank Accept Money Orders?
Unfortunately, Truist Bank does not accept money orders as of 2022. It does, however, accept money orders.
Alternatively, you can go to a store that accepts MoneyGram or Western Union.
These stores will cost you between $1 and $4 and accept cash, credit, and debit cards.
You can also try large retail outlets such as Walmart and Safeway, which charge extremely low exchange fees of less than $1.
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But Why Does Truist Bank not Accept Money Orders?
Truist Bank accepts cashier’s checks instead of money orders.
In terms of payment, a cashier’s check is nearly identical to a money order and is almost instant and guaranteed.
Unlike a money order, a cashier’s check can be used for transactions over $1,000, but you must have a bank account to purchase one.
Truist Bank is one of many financial institutions that prefers cashier’s cheques to money orders.
Has Truist Bank Ever Issued Money Orders?
Truist Bank has never offered money orders.
And, because they have a cashier’s cheque alternative to money orders, it’s possible that they won’t do money orders in the future.
They also do not give money orders, but they do accept them.
You can easily cash money orders at any Truist Bank branch.
SunTrust Banks, however, offered money orders to its customers prior to the merger of BB&T and SunTrust Banks.
They charged a $5 fee for regular customers and no fee for premium customers.
So, if Truist Bank does not provide money orders, does it provide money transfers?
Check Out Where to Get a Money Order?
SunTrust may be a good option if you prefer a smaller, more personal bank that greets you by name when you walk in.
Before choosing a bank, read the fine print and understand what you will earn on your account.
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