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From interest-bearing checking to business CDs, Regions Bank offers a broad selection of accounts with online and mobile-friendly banking options. But you’ll need to live within its branch network to apply.
What banking products does Regions Bank offer?
Personal banking
LifeGreen Checking. After a $25 minimum opening deposit, you’ll get unlimited checkwriting privileges. But you’ll need to maintain a daily balance of $1,500 to avoid the $10 monthly maintenance fee.
LifeGreen eAccess. Designed for those who prefer online and mobile banking, this account has a waivable $8 monthly maintenance fee and requires a $25 minimum opening deposit.
LifeGreen Simple Checking. Opt in to receive online statements for a $5 unwaivable monthly fee and enjoy unlimited checkwriting and mobile banking.
LifeGreen Preferred Checking. An interest-bearing checking account with rates that vary by state. But you’ll need to maintain a monthly balance of $5,000 to waive the $18 monthly maintenance fee.
LifeGreen Checking for Students. A checking account designed for those 25 or younger that requires a $25 opening deposit but features no monthly fees and unlimited checkwriting privileges.
LifeGreen 62+ Checking. Those 62 and older are eligible for this checking account offering unlimited checkwriting privileges.
Regions LifeGreen Savings. This savings account offers tiered interest rates, no monthly fees and a potential annual savings bonus of up to $100 when you set up automated monthly transfers from a Regions checking account.
Regions Savings. A basic savings account that requires a $50 opening deposit and offers tiered interest alongside a $5 monthly account fee if you don’t meet the $300 minimum daily balance.
Regions Savings for Minors. Applicants 18 and younger are eligible for this joint savings account with no monthly fees or minimum balance requirements.
Regions Now Savings. Exclusively designed for Regions Now cardholders, this account features no maintenance fees and a $1 bonus every month you make a $5 minimum deposit with no withdrawals.
Regions CDs. Terms range from seven days to 72 months with minimum opening deposits of $500 to $2,500, depending on your term.
Regions Promotional CD. Regions checking account holders ready with a $10,000 minimum opening deposit can qualify for Regions promotional CD rates.
Regions Money Market. With a $100 minimum opening deposit, you’ll get tiered interest rates and online banking. A minimum daily balance of $2,500 is required to waive the $12 monthly maintenance fee.
Regions Premium Money Market. You’ll get higher rates and a 50% discount on a Regions Bank safe deposit box rental. But you’ll need to hold a LifeGreen Preferred Checking account or maintain a $15,000 daily balance to waive the $15 monthly account fee.
Fixed Rate IRA. With a minimum opening deposit of $250, you’ll earn fixed-rate interest on terms of six to 60 months with no monthly fees.
Money Market IRA. Open this account with $50 to take advantage of regular deposits, rollover funds and no monthly maintenance fees.
18 Month Variable Rate IRA. Available only as a Traditional IRA, this account earns variable interest over a fixed 18-month term and automatically renews at the end of its term.
Business banking
Simple Checking Business. Designed for small businesses with a Regions Business CheckCard, the account has a waivable $7 monthly maintenance fee and offers $2,500 free monthly cash deposits.
Checking Advantage Business. Open an account with $100 to access 500 free monthly transactions, 24-hour automated telephone banking and safe deposit box rental discounts.
Checking Business Interest. An interest-bearing business checking account that offers 150 free monthly transactions. But you’ll need to maintain a minimum monthly balance of $5,000 to avoid the $15 monthly fee.
Checking Business. A simple business checking account that offers up to $5,000 in free monthly cash deposits, 150 free monthly transactions and a waivable $12 monthly fee.
Checking Not-for-Profit. Account perks include no monthly fees, 50% discount on custom business checks and up to 75 free transactions monthly.
Business Savings. A no frills business savings account requiring a $100 minimum opening deposit. But you’ll need a daily balance of $500 to avoid its $5 monthly fee.
Business Premium Money Market. Get started with a $1,000 minimum opening deposit to access tiered interest rates and a 30% safe deposit box rental discount. But you’ll need a $5,000 minimum daily balance to avoid the $12 monthly fee.
Business CDs. Fixed-rate terms span seven days to 72 months with minimum deposits of $500 to $2,500.
Other products
Loans. Finance your next big buy with Regions Bank‘s lines of credits and auto, home, personal and student loans.
Credit cards. Region’s credit cards offer 0% introductory APRs, no annual fees or foreign transaction fees, relationship rewards and the option to customize the outside of your card.
How does Regions Bank compare to other banks and services?
Regions Bank is one of the nation’s largest full-service providers headquartered in Birmingham, Alabama. It offers commercial and consumer banking products, wealth management services, trusts, brokerage services and mortgages. The bank serves customers across the South, Midwest and Texas and has about 1,500 branches and 1,900 ATMs.
Checking accounts
Pros
Rewards programs. Earn cashback rewards for using your Regions Bank debit card at select retailers. Plus, earn relationship rewards when you open more than one Regions Bank account or sign up for online banking.
Regions LockIt. Should you misplace your Regions Bank card, you can block transactions right from the Regions Bank mobile app.
Specialized accounts. Regions Bank has a range of accounts, including interest-bearing options and those for students, seniors over age 62 and business owners.
Cons
$50 opening deposit. You’ll need at least $50 to open most accounts — whereas other banks let you get started with as little as $0.
Monthly fees. Aside from Student Checking, every account has a monthly fee ranging from $5 to $18. But you can avoid most feesmost fees can be waived when you meet certain direct deposit or minimum balance requirements.
Expensive ATM fees. Expect to pay $3 each time you use a domestic non-network ATM and $5 each time you use an international ATM. This doesn’t include potential ATM operator fees you may pay.
Savings accounts
Pros
Promotional rates. The Regions LifeGreen Savings account comes with a 1% annual savings bonus, which you earn when you set up monthly automated savings transfers from a Regions checking account.
No monthly fees. Most personal savings accounts don’t have monthly fees, so you can save even more money each month.
Accountholder perks. Regions Bank savings account holders get a 30% to 50% discount on safe deposit boxes.
Cons
Tiered rates. Most interest rates with this provider are tiered and vary by state, which means you’ll need to talk to a representative to find out what you qualify for.
Minimum opening deposit. You’ll need at least $50 to open a personal savings account, $100 to open a personal money market or business savings account and $1,000 to open a business money market account.
Excessive transaction fee. If you make more than six outgoing transactions a month, expect to pay a $3 fee if you have a savings account or $15 if you have a money market account.
CDs
Pros
Promotional rates. Earn a higher relationship APY when you link your Regions Bank checking account to your CD.
Wide term ranges. Regions Bank offers CD terms ranging from one week to six years, making it easy to find a term that’s right for you.
Interest disbursements. Have your CD earnings automatically transferred to another Regions account at any time without penalty.
Cons
Varying deposit requirements. Regions Bank requires a $2,500 minimum deposit for CDs with terms less than 90 days and $500 for CDs with terms of 90 days or more.
Unclear interest rates. Interest rates vary by state, so you’ll need to contact a representative to find out how much you can expect to earn on a CD.
Can’t open online. You can only open Regions Bank CDs at a local branch. You can’t complete the application process online.
Overall banking
Pros
Impressive account suite. Regions Bank offers a comprehensive selection of both personal and business banking products.
Convenient customer service. Reach out to a Regions Bank representative by phone, email, Twitter, Facebook or in person at a local branch.
Cons
Limited availability. Regions Bank‘s products are limited to residents in 16 states: Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, Texas and Virginia.
Limited ATM network. Straying outside Regions 1,900 ATM network could result in ATM fees.
Compare Regions Bank to the competition
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Regions Bank‘s customer service
There are five ways to get in touch with a Regions Bank representative:
Phone. Call 800-734-4667, weekdays from 7 a.m. to 7 p.m. and Saturdays, 8 a.m. to 2 p.m., CT.
Online form. Regions customers can log in to the website and complete a secure online form for a reply from customer service.
Live chat. Chat with a representative on Region’s website, weekdays from 7 a.m. to 7 p.m. and Saturdays, 8 a.m. to 2 p.m., CT.
Social media. Keep up with all things Regions Bank on Twitter, Facebook, Foursquare and LinkedIn.
In person. Visit a Regions branch during business hours.
Bottom line
With such a broad selection of accounts, Regions Bank caters to a range of personal and business banking needs. But you’ll need to live within its 16 state branch network to open an account.
To open a Regions Bank checking account online, you’ll need to provide the following:
Social Security number
Date of birth
Email address
Drivers license or state ID
Routing and account number of external bank account
Yes. You can use the Regions mobile app to deposit a check to your checking, savings or money market account. You can also use the mobile check deposit feature to load funds into your Regions Now card.
Shannon Terrell is a lead writer and spokesperson at NerdWallet and a former editor at Finder, specializing in personal finance. Her writing and analysis on investing and banking has been featured in Bloomberg, Global News, Yahoo Finance, GoBankingRates and Black Enterprise. She holds a bachelor’s degree in communications and English literature from the University of Toronto Mississauga.
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