Pros Explained

• Multiple options for deposit accounts and CDs: Regions offers 10 different checking and savings accounts, as well as CDs with terms from seven days to six years.
• Automatic early direct deposit: Customers who have qualifying direct deposits into their Regions bank account or prepaid Regions Now Card will be automatically enrolled in the bank’s Early Pay program, which lets you access deposits up to two days early. Qualifying deposits include paychecks and federal and state benefits like Social Security and unemployment.
• 1% annual bonus up to $100 on qualifying savings accounts: If you transfer at least $10 from your Regions checking account to your LifeGreen savings account for 10 out of 12 months, you can receive an annual savings bonus up to $100.

Cons Explained

• High overdraft fees: Regions Bank charges an overdraft fee of $36, and it can charge this fee up to three times per day. However, the bank’s overdraft grace period means you have until 8 p.m. CT the next business day to make a deposit and avoid the fee.
• Limit of three free transactions per month on savings accounts: While many banks allow up to six free savings account transactions per month, Regions Bank only permits three. After those three transactions, it charges $3 per withdrawal.
• Low APYs on savings accounts: While the APYs on Regions Bank’s savings accounts may vary by location, many ZIP codes show very low rates on all savings accounts across all balances. 

Who Is Regions Bank Best For?

Regions Bank is best for customers in the South, Midwest, or Texas who are looking for a full-service bank with multiple financial products. This institution may be a good choice if you prefer to keep all your banking under one roof, as it offers d꧂eposit accounts, loans, mortgages, investing, and other services.

If you prefer in-person banking and live near a branch, you can take advantage of the bank’s many locations. Regions lets you manage your accounts online or via a mobile app. You may appreciate its competitive promotional rates on CDs, but it’s worth checking the best CD rates available to see i𓆉f you could get a better return.

However, Regions Bank may not be the best fit if you’re looking for high APYs and low fees on savings accounts. Regions’ savings accounts may come with APYs that are well below the national average, which itself is far below the 澳洲幸运5官方开奖结果体彩网:best savings account rates.  And you may end up having to pay high overdraft charges or monthly fees unleꦏss you meet the requirements to have them waived.

Bank Accounts Offered by Regions Bank

Regions Bank is a ful🍃l-service provider oꦉf deposit accounts, credit cards, and loans. It offers: 

• Checking accounts
• Savings accounts
• CDs
• Money market accounts
• Credit cards
• Loans and lines of credit 
• Mortgages 

Checking

Regions Bank offers several options for checking accounts, most of which require an opening deposit of $50. With the exception of the student checking account, these accounts come with monthly fees. However, the fees can be waived if ꧂you meet certain conditions, such as setting up a minimum direct deposit or maintaining a minimum balance in your account. 

The LifeGreen Preferred Ch🍨ecking account earns interest and comes with a Preferred Banking membership. A Preferred Banking membership provides perks like the option to open a⭕ no-fee Premium Money Market account, a discount on a safe deposit box, and relationship rates on loans and CDs. 

Savings

Regions Bank offers four savings accounts, including one option for ki꧃ds under 18. The LifeGreen Savings account requires you to have a Regions checking account and is eligible for an annual bonus of up to $100. To earn a bonus, you must transfer at least $10 from your Regions checking account to the LifeGreen Savings account in at least 10 of the 12 months preceding your account anniversary; you will earn a bonus of 1% of the average monthly balance of those 12 months, up to $100.

澳洲幸运5官方开奖结果体彩网: Other account𝓰 b🍸onuses may be available as well.

The Regions Now Savings account is designed for customers who have a Re💫gions Now Card, which is a prepaid an🃏d reloadable Visa card.

The Regions Savings account is the only one to charge a monthly fee, but it’s waived if you maintain a minimum daily balance of $300. With the exception of the account for minors, you can use a Regions savings account as overdraft protection for a Regions checking account.

Annual percentage yields vary by ZIP code, but sample ZIP codes showed very low rates. They are significantly lower than the national average savings account APY.

Certificates of Deposit

Regions offers CDs with terms from 7 days to 72 months. Its promotional CDs may be competitive with the best nationally available CD rates. Those rates may be higher than the national averages. However,ღ Regions’ standard interest rates are much lower.

Regions Bank offers the best APYs to customers who qualify for its relationship rates. You may be eligible for a relationship rate if your deposit term is at least 32 days and you have ꦓa Regions checkiꦰng account in good standing.

Money Market Accounts

Regions Bank offers two money market accounts: a standard account and a premium account. Both require a minimum opening deposit of $100. The standard account’s $12 monthly fee is waived⛄ if you maintain a minimum balance of $2,500. For the premium account, you must maintain a $15,000 balance or have a LifeGreen P📖referred Checking account to waive the fee. 

As with the bank’s savings account, rates vary by location, but they’re still often well below the national average and far below the 澳洲幸运5官方开奖结果体彩网:best money market account rates.

Other Products Offered by Regions Bank

Regions Bank 🧔also provides credit cards, loans, and mortgages. Here’s a closer look at these ꧋offerings.

Credit Cards

Regions Bank offers two credit cards that earn cash back and don’t charge an annuaꦏl fee.💎 You might also earn a bonus if you spend a certain amount after getting the card, or qualify for 0% APR for a limited time.

The Life Visa card doesn't offer cash-back rewards, but it does come with a lengthy 0% APR promotional period for balance transfers and purchases.

Regions Bank’s Explore Visa is a 澳洲幸运5官方开奖结果体彩网:secured card that can help yꦇou build credit. It requires a minimum security depꦯosit of $250.

Mortgages

Regi﷽ons Bank has a variety of mortgage options for those looking to buy a home, including: 

• Fixed-rate mortgages
• 澳洲幸运5官方开奖结果体彩网:Adjustable-rate mortgages
• Construction and renovation loans
• FHA, VA, and USDA loans
• Mortgage loans for physicians and emerging professionals
• High-net-worth mortgages up to $5 million

Regions offers home loan refinancing, as well as ಌhome equity loans and HELOCs. 

Other Loans

You can find a variety of loan products from Regions Bank, including secured and unsecured personal loans and lines of credit, auto loans, and auto loan refinancing. The rates are som💝ewhat co🧸mpetitive, but you may be able to find lower rates from another lender.

Regions also partners with 澳洲幸运5官方开奖结果体彩网:Sallie Mae to provide student loans to college and graduate studenꦆts.&nb🌸sp;

Mobile App

Regions Bank provides mobile banking for both iOS and Android devices. The app lets you log in by entering your password or using fingerprint or facial recognition. You can use the app to access your accounts, view your transaction history, transfer funds, make mobile deposits, and use budgeting tools. You can also pay bills, send money via Zelle, locate a Re𝄹gions branch or ATM, and set up alerts.&♏nbsp;

The Regions Bank app has good reviews on the Apple App Store and Google Play, receiving 4.8 stars and 4.7 stars out of 5, respectively.

Customer Service

The main ways to contact Regions Bank customer service are via phone or web chat. On the bank’s website or mobile app, you cꦗan send a message to its virtual assistant, Reggie, which is available 24/7. If the digital assis🌟tant can’t answer your question, it can connect you with a Regions banker.

Customer Satisfaction

Regions Bank has an A- rating from the Better Business Bureau and was ranked #3 among regional banks in J.D. Power’s 2023 U.S. Banking Online Satisfaction Study. 

However, the bank has subpar ratings among customers on the BBB and Trustpilot, receiving 2.17 and 1.4 stars out of 5, respectively. Some customers complained about unhelpful customer service, a lack of tech supp🃏ort,൩ and unfair fees. 

How to Bank With Regions Bank

You can open a Regions Bank account o🤡nline or in person at your local branch. If you open an account online, you’ll need to provide your email address, Social Security number, and a copy of your ID. 

You may need to provide a minimum opening deposi♔t, depending on the account. Regions reduces the minimum deposit for its LifeGreen Savings Account if you open your🍎 account in person ($5, compared to $50 when opening online).

The Bottom Line

Regions Bank offers full-service online and in-person banking in the South and Midwest. Its pros include a wi🐠de variety of financial services and products, special perks for qualifying customers, an annual bonus on its savings accounts, and cash-back credit cards. Plus, Regions offers competitive promotional rates on CDs. 

On the other hand, Regions doesn’t have high-yield savings accounts and charges high overdraft fees. You may also end up paying monthly bank account fees if you don't meet the requirements to waive them. Consider Regions if it would meet your needs, but look elsewhere if you want better deposit account APYs and lower fees.

Is Regions Bank a Good Bank to Use?

Regions Bank may be a good bank to use if you’re looking for a full-service institution that provides a variety of deposit accounts, investing accounts, loans, credit cards, and mortgages. However, you can find 澳洲幸运5官方开奖结果体彩网:better rates on savings accounts from other banks. Plus, Regions has a history of ch✨arging unfair overdraft fees.

Is Regions Bank Stable?

Regions Bank is an 澳洲幸运5官方开奖结果体彩网:FDIC-insured bank that’s been in business since 1971. However, the CFPB recently ordered the bank to pay a refund of $141 million to customers, along with a penalty fee of $50 million. 

How Do I Log In to Regions Bank?

You can log in to Regions Bank with your username and password on the bank’s website or via its 澳洲幸运5官方开奖结果体彩网:mobile app. 

Methodology

Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of banking institutions. We researched 19 in🌱stitutions, reviewing account types, rates, fees, minimum balance requirements, rewards, customer service, and mobile apps. Our research and editorial processes are designed to ensure that our reviews help users make informed decisions﷽ for their banking needs.