While you won’t find the best interest rates, you’ll experience award winning customer service and get a wide variety of benefits upon account opening. To find out if Regions Bank is right for you, continue reading this review below.
With locations in 15 states in the Southern United States and Midwestern United States, you can enjoy over 1,900 ATMs locations that Regions Bank has to offer. Read on to check out their different savings, checking, CD accounts and what they have to offer!
Checking Account Options
With each Regions Bank checking account option, it includes access to their ATMs (1,900 ATMs legal disclaimer number1 across Regions 15-state service area.), free insights to help you manage, & digital/mobile banking.
This account requires $25 to open and you must maintain a low monthly balance or have direct deposit to enjoy great features such as unlimited check-writing with no monthly fee.
Avoid the monthly fee of $8 for electric statements or $10 with paper statements with a $1,500 average monthly balance or a recurring direct deposit of $500+.
This account requires $25 to open and are for those who enjoy banking online and prefer making purchases with a card instead of checks. Please note that there is $8 monthly fee but can be avoided by any combination of at least 10 Regions CheckCard and/or credit card purchases.
You’ll enjoy features such as free access to online banking, free standard delivery bill pay and more.
Enjoy a checking account for those who prefer a direct approach to banking, without compromising on features. This account will require a $25 opening deposit and features relationship benefits such as 30% discount on one Safe Deposit Box with an additional 10% discount for auto debit.
Please note that there is a $5-$7 monthly fee depending on if you get electronic or paper statements.
Open an account with options to earn interest and a host of special features and benefits to deepen your relationship with Regions. With a $25 opening deposit, you can earn an interest on your balance, though it depends on your location.
There is an $18 monthly fee but it can be avoided in a variety of ways.
For students 25 and younger, the LifeGreen Checking Account provides lots of features to bank your way without a monthly fee. With a $25 minimum deposit, enjoy $0 monthly fees and a variety of features
A retirement checking account for those who are 62+, enjoy great features and benefits like unlimited check writing, easy options to waive the monthly fee, and much more. It has a simple $25 opening deposit and offers features such as linking your checking account to an eligible Regions funding account for Overdraft Protection.
Compare Checking Accounts
Savings Account Options
Regions Bank does offer a few selection of savings accounts & certificate of deposit accounts (CDs) with decent perks. Access to these accounts will be through their digital banking with variety of ways to waive the monthly fees.
With this savings account, there are no monthly fees or balance requirements.
However, you’ll need to make a $50 opening deposit.
Additionally, you’ll earn a $5 opening deposit in branch when you set up an automatic recurring monthly savings transfer from a Regions checking.
With this savings account you’ll enjoy a basic, low fees account.
However, there is a $300 minimum daily balance, $5 monthly fee, $50 opening requirements, and more.
This account requires $10,000 to open with terms ranging with various terms available. Upon maturity, you’re able to allow your money to rollover or you can withdraw the funds. Get their best rates for an limited amount of time
This account requires $500 to open with terms of 90 days or longer, or requires $2,500 terms for terms 7 to 89 days.
Available terms range from 7 days to 72 months.
Upon maturity, you’re able to allow your money to rollover or you can withdraw the funds.
Compare Savings Accounts
With the CIT Bank Savings Builders account:
• Earn a top tier, competitive APY on your money—one of the top savings rates in the nation. Earn up to 1.00% APY on your funds - grow your savings faster.
• Build a habit of savings. Pay yourself first. Start with $100 per month and build your habit of savings-—all while getting a top rate.
• FDIC Insured
With the American Express® High Yield Savings Account:
• Earn 3.75% APY as of 3/16/23 on your deposits. Your High Yield Savings account earns interest daily and is posted to your account monthly.
• Links easily with your current bank accounts. No need to switch banks.
• FDIC Insured. Your account is insured to at least $250,000 per depositor.
• 24/7 Account Access
Open a Discover Online Savings Account for all these features:
• Earn $200/$150 Bonus with promo code HMB223 by 06/15/2023
• Earn high interest rate of 3.60% APY
• No minimum opening deposit, no minimum balance requirement, and now no fees
• Interest on Discover Online Savings Accounts is compounded daily and credited monthly
• Manage your account online or with the Discover mobile app
• FDIC insurance up to $250,000
• See advertiser website for full details
To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code HMB223 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 6/15/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice.
• Earn up to 0.61% APY with interest compounded daily and no monthly fees with the Axos Bank High Yield Savings account
• No minimum balance requirements
• Free ATM card upon request
• $250 minimum opening deposit
• Free Incoming Wires
Money Market Account Options
Money Market accounts allow for a higher yield and gives access to your funds with either checks or a bankcard.
To waive the fee of this money market account, you must have at least $2,500 already in bank your account because you need $100 in order to open it. Doing this will allow you to access online banking and bill pay.
To acquire this kind of money market account, you can either open a LifeGreen Preferred Checking Account or have at least $15,000 already as your balance. Having this kind of account also allows you to waive the monthly fee.
You can open this account by either having an initial balance of $15,000 or have a Regions Checking Account with at least a balance of $2,500.
Compare Money Market Accounts
• Earn 0.25% APY with the Axos Bank High Yield Money Market
• FDIC Insured
• Check writing privileges
• No monthly maintenance fees
• No minimum balance requirements
• Debit card transactions
• Minimum Balance Required to Open the Account: $ 1000.00
• Get started and open a Discover Money Market Account in 3 easy steps.
• Available nationwide online
• Earn high yields with flexible access to your cash.
• Earn 3.55% APY balances $100,000 and over
• Earn 3.50% APY balances under $100,000
• Open with as little as $2,500.
• No hidden fees. No surprises.
• Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs
With the CIT Bank Money Market Account, you can earn a competitive interest rate and access your money easily.
• Earn 1.55% APY on your funds
• One of the nation's top rates — several times the national average.
• Get up to 6 digital transfers/withdrawals per statement cycle
• Save smart and get more for your money
• Higher rates than traditional banks
• Get 24/7 Account Access
• Secure banking features
• Open with as little as $100
• FDIC insured
CD Account Options
Down below are how you can earn a higher interest rate by obtaining a CD Account with Regions Bank.
To open a promotional CD account, you need at least $10,000 as a balance. CDs usually have a higher interest rate, so, it would be better to have a checking account to offset it. However, if you already have a Regions Checking account, you could be eligible to receive a relationship interest rate.
You can also renew your CD when it reaches its maturity date or take out your money. Another option is having the interest earned directly deposited into your Regions checking or saving account.
CDs vary in maturity dates from either $500 for 90 days or 2,500 for terms that are a week or more (7-89 days). Having a Regions Checking account means you might be eligible for a relationship interest rate.
The interest you earn can be distributed among other Regions banking accounts. Another option is that you can also have your CD renew at the current market rates when it reaches its maturity date.
Compare CD Accounts
• Available nationwide online, Discover offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months
• Rates ranging from 2.00% APY up to 4.75% APY.
• Opening a Discover Bank Certificate of Deposit is extremely quick and easy.
• Funds on deposit are FDIC-insured up to the maximum allowed by law.
• Start today with a minimum deposit of $2,500!
• Get started and open a Discover CD in 3 easy steps.
• Available online nationwide
• Earn up to 4.65% APY
• $1,000 minimum to open
• Selection of terms to meet your needs
• A range of choices. Low minimum deposits.
• No fees to open or maintain the account
• Available as Custodial
• Open a CIT Bank Certificate of Deposit Account today!
Now Banking with Regions
If you aren’t particularly interested in opening a monkey market nor CD account, then Regions Bank has its own independent solution called “Now Banking”.
With this method, you don’t need to open an account directly at Regions in order to utilize the benefits. Down below are some options.
The Regions Now Card is a reloadable prepaid Visa that has a minimum of $10 deposits.
Although there is a small monthly fee, you can waive it by making $500 direct deposits each month.
To be eligible for the Regions Cashback Award program, you can only spend the amount that is already in your card.
If you apply for a Regions Now Card, you can also apply for a Regions Now Saving account.
The best thing about this account is that it requires no monthly service fee nor a minimum balance.
However, in order to earn interest, you must have $10 as your balance upon account opening.
You can also qualify for an annual savings bonus and the Builder’s Bonus, which gives you $1 back for every $5 deposit each month excluding withdrawals.
Now Banking with Regions allows for customers to cash checks at their local bank even if they don’t have a Regions checking account.
You can register in the program as long as you pay the fees that are based on the check amount.
The check doesn’t have to be from Regions either.
Reasons to Bank with Regions Bank
- Bank when and how you want with Mobile Banking, Online Banking with Bill Pay, and get free access to over 1,900 ATMs legal disclaimer across Regions’ 15-state service area.
- Visit Insights by Regions for tools, tips and calculators to help you manage your money, finance your needs and track your spending.
- Regions believe in giving back to our communities by supporting local organizations and donating our time and talents. Regions Bank even give associates a paid day off to volunteer with a cause of their choice.
- Earn Relationship Rewards with a Regions checking account or Rewards credit card, and earn Cashback Rewards through Online Banking for qualifying CheckCard & Now card purchases.
- Use Google Pay legal disclaimer , Apple Pay legal disclaimer, Samsung Pay legal disclaimer and Visa Checkout legal disclaimer to make secure payments from your mobile device. They also offer Zelle to send money to friends legal disclaimer, available through Online Banking and Regions Mobile app.
- To reduce the risk of fraud on your Regions cards, you can use Regions LockItSM: with the touch of a button, block transactions with your Regions mobile app.
- With award-winning customer service through a branch, online, over the phone, on Facebook or Twitter, or even at an ATM, Regions Bank strive to make each experience a satisfying one.
- Interest on savings accounts are compounded daily, paid monthly on collected balances.
Reasons Not to Bank with Regions Bank
- Regions Bank is only located in 15 states. Unless you’re located in Illinois, Iowa, Indiana, Arkansas, Alabama, Florida, Georgia, Louisiana, Kentucky, Mississippi, Missouri, North or South Carolina, Texas, or Tennessee, you won’t be able to open an account.
- No interest for low-balance customers. If you want to earn interest on your checking balances, you need at least $5,000.
- Low interest rates. The interest rate offered on certain deposit accounts is relatively low.
- $3 per withdrawal or transfer in excess of 3 per month
First Regions Bank Routing Number
Regions Bank has different routing numbers per state. To find find this routing number, you can simply check the bottom left corner of your checks – check to see if this number differs.
Contact Customer Service
Reach Regions Bank Customer Service at 1-(800) 734-4667. There are no specific hours listed for their customer service but they offer different lines by concern.
How Regions Bank Compares
- Chase Bank: Chase is one of the biggest banks in the U.S and offers just about almost everything. Compared to its other competitors, Chase offers much more checking account options.
- Bank of America: As one of the larger banks in the U.S. Many may choose BoA for the convenience of locations through out 35 states. However, BoA offers limited account options.
- First Tennessee: Limited to only a few states such as Arkansas, Alabama, Tennessee, Mississippi, North Carolina, Georgia, Kentucky, and Virginia. They can offer many bonuses depending on the account you sign up for.
- Wells Fargo: Although there are more locations for this bank, their offerings pale in comparison to Regions because they don’t have as many. Wells Fargo, however, does have 24/7 customer service, but their benefits would be the most useful to current Wells Fargo mortgage customers instead.
Compare to Other Banks
- Regions Bank vs Chase
- SunTrust Bank vs Regions Bank
- PNC Bank vs Regions Bank
- Discover Bank vs Regions Bank
- Axos Bank vs Regions Bank
Overall, Regions Bank offers pretty unique features compared to other banks, and are more flexible than most banks well known banks.
With their Now Regions feature, those who don’t want the hassle of opening a money market or CD directly through Regions can access it without having to have a Regions checking or savings accounts. As long as you pay the fees, you can make use of this service.
However, keep in mind that when you look for a checking or savings account be sure to look into all the fees charged. Don’t focus on the interest rate alone, but on what the account will cost you overall.
if you’re interested in banking with Regions Bank, see what they have to offer through Regions Bank Promotions! And while you’re here on HMB, check our full list of Best Bank Promotions for more options!
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