Bank Accounts

BB&T Bank Review: The Banking Services They Offer

bbt-logo-largeBB&T (Branch Banking & Trust) Corporation is an American financial services company based out of Winston-Salem, North Carolina. The company has roughly $185 billion in assets and a market valuation of roughly $29 billion. The company offers both consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance.

Services
BB&T offers a wide variety of services for its customers, including checking and savings accounts, credit and debit cards, certificates of deposit (CDs), mortgages, home equity and personal loans, investments, and property, vehicle, health and accident, and life insurances.

Multiple varieties of checking accounts are available. Interestingly, no free checking is available. Monthly fees start at five dollars, and can sometimes be waived if at least 500 dollars is directly deposited per month via paycheck. Special accounts are available for students and senior citizens.

Savings accounts are slightly more limited. The most popular, basic option has no monthly fees, unlimited withdrawals from tellers, and starts at 0.05% annual percentage yield (APY). Specialty accounts are also available, including the Investor’s Deposit Account ($10,000 minimum) and accounts for students.

Debit cards are available for free with the opening of a checking account. Prepaid debit cards and gift cards are also offered. Two types of credit cards are available, with 0% Introductory annual percentage rate (APR) for 12 months, then a variable APR ranging from 8.15% to 17.15%.

These rates have been provided for home mortgages . Last Updated: 10/16/2016:

  • 30 Year Fixed. 3.5% interest. 3.58% APR.
  • 15 Year Fixed. 2.75% interest. 2.892% APR.
  • 30 Year Refinance. 3.625% interest. 3.706% APR.
  • 15 Year Refinance. 2.875% interest. 3.018% APR.

No rates are directly given for home equity, personal, and auto loans on the website, but it is possible to apply online.

Online Banking
The following list of features is given on the BB&T website:

  • Pay bills and transfer money between accounts, including non-BB&T accounts.
  • Schedule one-time or repeating payments.
  • Payments delivered on time, guaranteed.
  • Easily download account activity to Intuit® Quicken®
  • Access up to 24 months of online statements.
  • Customizable email and text message alerts notifying of account balances, transactions, online profile changes, bill payment, credit card transactions and more.

Text message banking and mobile apps (for Android, iPhone, and iPad) are also available. The features offered are similar, if not exactly the same, as offered by the online banking service as a whole.

Locations
BB&T Bank has around 1800 locations in 12 states: North Carolina, South Carolina, Virginia, Maryland, West Virginia, Kentucky, Tennessee, Georgia, Florida, Alabama, Indiana, and Texas, as well as 25 locations in Washington, D.C. Customers can use the online location finder to find a nearby location and the hours. Options are included for easier searching, including the availability of a drive-up window and which locations have Saturday hours, night deposits, and Spanish speaking associates.

Bank Hours
BB&T locations are usually open from 9AM-5PM on weekdays, with some open an additional hour on Fridays. When Saturday hours are available, they are mostly open from 9AM-12PM (noon). Drive-through service hours vary by location, where available, but are most often 8AM-5PM on weekdays and 8AM-12PM (noon) on Saturdays.

Customer Service Phone Numbers
The following phone numbers are provided on the BB&T website:

  • Domestic: 800-BANK-BBT (800-226-5228)
  • International: 910-914-8250
  • Hearing impaired (TDD compatible equipment required): 888-833-4228
  • Online banking: 888-BBT-ONLINE (888-228-6654)
  • Complaints: 888-628-3926

Customer Reviews
Reviews of BB&T are mostly negative. The firm received an average of 1.3 stars from Consumer Affairs and 2 stars from MyBankTracker. The most common complaints are late check processing, unfair fees, and arcane regulations on withdrawals. Customers have noted, however, that BB&T pays the highest interest rates on deposits of any major bank. Also, it’s always important to remember that satisfied customers are much less likely to seek out a place to leave reviews of their bank than dissatisfied ones.

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