At a glance

3.5

Bankrate Score

CDs

Checking

Savings

MMA

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Overview

Regions Bank could be a good option for customers living in the South, Midwest or Texas, who value getting rewarded for bank loyalty. However, savers seeking high APYs may want to shop elsewhere.

Highlights

Reward Checking
Highly Rated App

Overall

Serving residents throughout the Southern and Midwestern U.S., Regions Bank offers all types of deposit accounts, and customers get rewarded for loyalty, such as by earning a higher CD rate when they have a checking account with the bank. The rates on Regions Bank’s products are low overall, though. There are also high minimum balance requirements to waive the monthly fee on money market and checking accounts.

Pros

Customers get rewarded for having multiple types of accounts with Regions Bank.
With a savings, money market or checking account, customers get up to a 40 percent discount on a safe deposit box rental.
The Regions Debit card earns cash back rewards.

Cons

APYs are below average.
The money market and checking accounts have high minimum balance requirements to avoid their monthly fees.
The savings account only allows for three free withdrawals per month.
Branch service is limited to the South, Midwest and Texas.

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Regions banking products

2.3

Bankrate Score

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FEATURES

Regions savings overview

The Regions Savings account requires at least $50 to open and $300, averaged daily, to avoid the monthly maintenance fee. Otherwise, there’s a $5 monthly fee. The APY on the account is below average.

Customers with the savings account get up to a 40 percent discount on a safe deposit box rental. They can also link the account to a Regions checking account to serve as overdraft protection. Only three withdrawals per month can be made for free from the savings account; after that, there’s a $3 fee per transaction.

Three alternative savings accounts are offered. Regions LifeGreen Savings is only available to those with a Regions checking account and has no monthly fee. Regions Now Savings is for those with a Regions Now Card and earns annual bonuses. Finally, there’s a savings account for minors with no monthly fee or minimum balance requirement.

Pros

Only $50 is needed to open the Regions Savings account.
Account holders get up to a 40 percent discount on a safe deposit box rental.

Cons

If a $300 daily balance isn’t maintained, there’s a $5 monthly fee.
Withdrawals in excess of three per month cost $3 each. Most banks allow for at least six free transactions from savings accounts.
The APY is low.

Rate history for Regions's Savings account

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Regions

APY

APY last updated between 5/6 and 5/12.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Regions

APY

APY last updated between 5/6 and 5/12.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

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Regions CD overview

Regions Bank offers CDs with terms ranging from just a week up to six years. For CD terms of under 90 days, the minimum deposit to open is $2,500; over 90 days, only $500 is required.

Rates on most of Regions Bank’s CDs are low — below the national average. However, three promotional rates are offered as of this review, on terms of five, eight and 14 months. These promotional rates are much more competitive.

There is an opportunity to earn a higher rate called the Relationship Pricing interest rate. This rate is available to customers who have a checking account with the bank on terms of over 32 days.

Pros

Only $500 is needed to open CDs with terms of over 90 days.
Customers with a Regions Bank checking account can earn a higher APY.
Three promotional terms are offered with competitive rates.
A wide selection of terms is available.

Cons

Rates for most terms are below average.
Shorter CD terms require $2,500 to open.

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Regions money market overview

Regions Bank’s Money Market account comes with check-writing privileges and six free transactions per month, but it earns minimal interest. More than six withdrawals a month will cost you a lofty $15 per transaction.

Only $100 is needed to open the account, but the minimum balance to avoid the $12 monthly fee is high at $2,500.

Like the savings account, Regions’ Money Market account can be linked to a checking account for overdraft protection, and account holders get up to a 40 percent discount on a safe deposit box rental.

Pros

Customers get up to a 40 percent off a safe deposit box rental.
The account comes with check-writing privileges.

Cons

To avoid the monthly fee, account holders need a daily average balance of at least $2,500.
The $15 fee that applies to transactions in excess of six per month is high.
The APY is far below average.

3.8

Bankrate Score

Compare top checking rates

Regions checking overview

The LifeGreen Checking account offered by Regions Bank is a non-interest-bearing account that customers can open with $50. There’s an $11 monthly fee — discounted by $3 when you opt out of paper statements. However, this fee is waived with an average monthly balance of at least $1,500 or with recurring direct deposits of at least $500 into the account. Additionally, two out-of-network ATM fees are reimbursed for service members. The out-of-network ATM fee is $3 otherwise.

Customers get a Regions Visa debit card with the account that can earn cash back rewards.

While the overdraft fee is $36, which is above average, there’s no fee for linking a savings or money market account to cover overdrawn amounts.

Customers can earn a 1 percent annual savings bonus when they set up automated transfers of at least $10, for at least 10 months of the year, to the LifeGreen Savings account. The maximum bonus amount is $100. Also, account holders get up to a 40 percent discount on a safe deposit box rental.

Pros

The monthly fee can be waived by meeting certain criteria, including having at least $500 in recurring direct deposits.
The debit card that comes with the LifeGreen Checking account earns cash back rewards.
Customers have the opportunity to earn a 1 percent annual savings bonus.
Military service members get two out-of-network ATM surcharges reimbursed per month.

Cons

The $11 monthly fee is high, and there’s a high minimum balance requirement to waive it, if other criteria aren’t met.
The $36 overdraft fee is higher than average.
The $3 out-of-network ATM fee is nearly double the national average.

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Bank fees

Fee	Charged?
Overdraft fee	$36
Account maintenance fees (if requirements aren’t met)	$5 for savings; $12 for money market; $11 for checking
Out-of-network ATM fee	$3
Excessive transaction fee	$5 for savings; $15 for money market
Stop payment	$36

About Regions Bank

Regions Bank is headquartered in Birmingham, Alabama, and serves customers across the South, Midwest and Texas. The bank offers services online and at around 1,300 branch locations.

There are a variety of consumer deposits products available through the bank, plus credit cards, small business resources and wealth management services.

Customer experience

Branch and ATM network. Banking hours vary by location, though the bank’s headquarters are open 9 a.m. to 4 p.m. CT Monday through Thursday, 9 a.m. to 5 p.m. CT on Friday and closed on the weekend. Regions has its own fee-free ATM network throughout the South, but it’s not part of any other ATM networks.

Customer service. Customers can reach out to Regions Bank’s virtual assistant, Reggie, which is available 24/7. Reggie can answer basic questions, make changes to accounts and connect customers with a banker. Customers can also contact a phone service line or connect with the bank via one of its social media accounts.

Highly rated app. The bank’s mobile app has positive ratings on Google Play and the Apple app store.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.

Regions Bank Review 2024

The Bankrate promise

At a glance

Overview

Highlights

Overall

Pros

Cons

We want to know what you think about Regions Bank

Regions banking products

Regions savings overview

Pros

Cons

Rate history for Regions's Savings account

Regions CD overview

Pros

Cons

Regions money market overview

Pros

Cons

Regions checking overview

Pros

Cons

Bank fees

About Regions Bank

Customer experience

Review methodology

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