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About Regions Bank
Regions Bank serves 16 states across the Southern and Midwestern regions of the U.S. It caters to a wide range of customers, including individuals, small businesses and commercial clients. The bank says it is focused on serving the needs of local communities and supporting economic growth and development in its service areas.
Pros & Cons
- Specialized checking accounts for students and seniors
- Promotional CDs have competitive yields
- Several ways to waive monthly fees
- Below-average APYs
- Savings accounts have strict withdrawal requirements
- Promotional CDs have high minimum deposits
Regions Bank is a U.S.-based bank that provides a range of financial services to customers across 16 states. It offers high-yield promotional CDs but low-interest rates on savings accounts.
Top Regions Bank Reviews
Every branch appreciates your business, regardless of your financial situation. They're friendly, and are loyal to honorable Veterans or proven customers. I'm disabled, and they a...Read full review
Easy to use. Very efficient and always available to help. No fees to use. Like the fact that they have lots of brick and mortar offices in many states. We have been customers and ...Read full review
What is Regions Bank?
Regions Bank was founded in 1856 and serves customers in the Midwest and South. It offers a range of banking and financial services to individuals, small businesses and corporate clients, including checking and savings accounts, loans, mortgages, credit cards and investment services.
Today, the bank has over 1,200 branches and is a Fortune 500 company with over $154 billion in assets.
How does Regions Bank work?
You can open a checking or savings account with Regions Bank online or at one of its branches. You can also apply for credit cards, loans and other financial products through its website or by visiting a branch.
Once you have a Regions Bank account, you can manage transactions through its online and mobile banking platforms.
If you need to visit a branch in person, Regions Bank has more than 1,200 locations across 16 states. You can meet with a banking representative to discuss your financial needs, open new accounts or receive guidance on managing your finances.
Regions Bank products and services
Regions Bank offers these products:
- Checking accounts
- Every Regions Bank checking account has a monthly fee, with the exception of its student checking account. Most fees can be waived when you maintain a minimum balance or complete a minimum number of transactions each month.
- LifeGreen Checking is a standard checking account with just the basics.
- LifeGreen Preferred Checking earns interest and grants you Preferred Banking Program membership, which includes a dedicated banker and personalized service.
- Regions Now Checking has no overdraft fees, but the monthly fee cannot be waived.
- LifeGreen eAccess Account is for customers who primarily bank online and pay for most purchases with a debit or credit card.
Regions also has specialized accounts for those under age 25 (LifeGreen Checking for Students) and those aged 62 or older (62+ LifeGreen Checking).
- Savings accounts
- All Regions savings accounts have low interest rates that hover around 0.01% annual percentage yield (APY) at publishing. For comparison, most online banks have rates above 3% APY. LifeGreen Savings, the bank’s most popular savings account, earns a 1% savings bonus at the end of the year, but the max payout is $100.
If you’re under age 18 or have a Regions Now Card, you can open a savings account for free. While the Regions Savings account has a $5 monthly fee, you can waive it by maintaining a $300 minimum balance.
Regions Bank’s money market accounts earn slightly better interest rates, but require a minimum balance of $2,500 or more to avoid the $12 to $15 monthly fee.
- Certificates of deposit
- Out of all of Regions’ savings products, its promotional certificates of deposit (CDs) earn the highest APYs. For instance, its 13-month promotional CD earns 4.25% at publishing. However, you must have a Regions checking account to unlock the best rates, and promotional CDs require a $10,000 minimum deposit.
All other Regions Bank CDs earn 0.01% to 0.05% APY at publishing with relationship rates, which are much lower than rates offered by online banks. They also require a $500 to $2,500 minimum deposit depending on the term.
- Credit cards
- Regions Bank offers five credit cards, most of which have no annual fee:
- Cash Rewards Visa Credit Card earns cash back on purchases.
- Premium Visa Signature Credit Card earns points that can be redeemed for travel, merchandise, gift cards or cash.
- Prestige Visa Signature Credit Card has an accelerated earn rate in select spending categories.
- Life Visa Credit Card offers a 15-month 0% introductory annual percentage rate (APR).
- Explore Visa Credit Card is a secured card designed for establishing or improving your credit.
- Mortgages, loans and lines of credit
- With Regions Bank, customers can obtain personal loans, auto loans and refinancing, student loans and lines of credit. It also offers mortgages, mortgage refinancing and home equity lines of credit (HELOCs).
- Investment services
- Regions offers a range of investing and brokerage services, including mutual funds, exchange-traded funds (ETFs), stocks, bonds, educational 529 plans and individual retirement accounts (IRAs).
Regions Bank fees
Many Regions bank accounts have monthly fees that can be waived when you link another Regions account or maintain a minimum balance.
Savings account holders will pay a $3 fee each time they make more than three withdrawals a month. This fee is strict considering most banks give you six free withdrawals a month. Money Market Account holders pay a $15 fee for each withdrawal over six.
Regions Bank also charges these common fees:
- $3 for non-network domestic ATMs
- $5 for non-network international ATMs
- $36 for overdrafts over $5 (to avoid this fee, link a Regions checking and savings account for overdraft protection)
- $15 for incoming domestic wire transfers
- $25 for outgoing domestic wire transfers
- $18 for incoming international wire transfers
- $45 for outgoing international wire transfers
- $25 for closing your account within 180 days of opening
Regions Bank FAQ
Does Regions Bank have Zelle?
Yes, Regions Bank uses Zelle to allow customers to safely send and receive money. You can use Zelle by logging into the Regions Bank mobile app.
Is there a limit on Zelle with Regions Bank?
No, Regions Bank does not limit or cap how much money you can send in a single transfer with Zelle.
What is Regions Bank’s ABA routing number?
Regions Bank has multiple routing numbers that vary by state. You can view your routing number by logging into your account.
How much cash can I withdraw from my Regions checking account in one day?
Regions Bank’s daily ATM withdrawal limit is $808.
Is Regions Bank legit?
Regions Bank is a legitimate financial institution that’s a publicly traded company and regulated by the Federal Reserve. It’s best for individuals and small businesses looking for a full-service bank that offers a range of financial products. It may also be a good option for those who live in the Southeastern or Midwestern U.S., where the bank has branch locations.
Regions Bank Reviews
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I write this out of boredom and frustration while sitting in the commercial banking drive-through line for going on 30 minutes now… there is absolutely no sense in something taken this long. Why is this bank Always so slow?!? If this were my personal account, I would pull out every penny and go somewhere with better customer service but as previously stated, this is a commercial account so you would expect to be treated as a priority, but I guess not at Regions.
I have a checking account with Regions Bank, because they give a loan and they required me to open an account so they can automatically debit the payment every month, but happens that is a commercial account and I only use it for that purposes, so I used to transfer money from my primary account in Chase Bank, but now they don’t accept Zelle transfers for commercial accounts, you can’t see your online account if you don’t have paperless statements, I have to keep $2,500 to avoid monthly fees, I don’t know about other banks, but compare to chase bank is a lot of difference, it works like a small community bank, so trying to send money thru Zelle, they block my online account and I have to go to the branch to fix it, I am very disappointed with regions bank, too many stupid rules and restrictions, I hope this help somebody to avoid it
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I have figured out that they have set up their computer system to keep transactions in a pending state for days. This causes an illusion that you have money available to spend, and they do indeed let you spend money even though they claim the money is in pending status. One thing this does is stop you from closing an account because transactions stay pending for many many days. Another thing this does is cause accounts to go Into NSF and negative amounts.
So let's say you have 1000$ ready to spend. You spend 999$ of it. You have 1$ left and you deposit another 1000$ before you spend any more money. You think that you now have 1001$ so you go spend more money on things like rent. Wrong!
The second deposit is pending for days but you can't tell this at all and they even let you spend the money you deposited as if it's there in the account. You go spending more than 1000$ and now the bank claims you're in NSF status because that 1000$ you deposited is not yet available and stuck in pending even though they let you send it! So I'll help you picture it better. At 5pm you had 1000$. At 6pm you paid for something and you have 1 $ left. You deposit another 1000$ at 630pm. You think you now have 1001$ by 7pm and can spend it. In fact it shows up in your account as if it's ready to spend! At 730pm you spend 100$ thinking everything is fine because you have 1001$ but NO, you do not. That REGIONS BANK computer they are using calculates the deposit of 1000$ you made at 630pm as a pending transaction.
This pending state can last for days! Yes that's correct, the bank will show you in the app and the website that the deposited money is available but it really is not available because the computer system does is SLOW on purpose to make YOU go into NSF. So now you are overdrawn. At no point does the app or website ever show your deposits as pending. IN fact, it will allow you to spend that money they claim was "pending." THIS IS WHAT THEY DID TO ME 2 TIMES IN LESS THAN 5 DAYS. As of this moment my account is negative 465$ because the bank claims I spent money that wasn't yet available in my account even though they allowed me to have access to that money and that money was deposited by me in cash...
Again. This is all because they specifically set up their computer system to recognize every transaction including deposits, days after it's actually made. And to add to it they grant you access to the money they claim doesn't yet exist in your account. So depending on when you spend the money they claim doesn't yet exist vs the money to used to pay for items that stay in pending, you could end up in astronomically negative values of money missing in your account.
Now I gotta go to the bank first thing in the morning and speak to low iq low waged people that have zero clue what the bank computer is actually doing to people. It's all a plan. They set it up so YOU get zero help from un knowledgable employees and you end up giving up and just paying for Fees upon fees that stack up very fast. Not me.
This is the worst Credit Card Bank. The service dept is absolutely impossible to deal with. Is a constant run-around of misled information. First they submit my credit card for payment on a service that I never authorized. After disputing and complaining, they totally ignore me and begin adding late fees and finance charges. Three times contacting for waiving the fees after being confirmed by an associate over the phone that they would do that. I paid my disputed amount in full because my husband said he didn't want to mess up with them anymore and they were going to create issues with my credit. This is still ongoing until I get a response, which I can assure it will never come. Worst customer service. I will happily just stay with my Chase and American Express!!
Regionsbank.com has completely lied and misled me on a financial transaction. They told me they were putting my total life savings in a money market account. They kept telling me I would make 1.33% every month. It was the furthest thing from the truth. We are down $50,000 few months. I would never use Regions Bank for anything. We have contacted the BBB, the Attorney General, & Regions Bank. Nobody will do anything. Please help me get the word out. 1 ⭐️ all the way.
This bank must have the worst customer service of any bank in the Southeast for sure. They will literally shut the door in your face and tell you that they are closed and cannot open the door and then open the door and let customers out after you walk away. Waited this morning thinking the drive-through opens at 8:30 as my other banks do although that was my mistake. Rushed back after work and driving 1 hour back into town to literally walk to the door at 5:00 according to my iPhone to be told that he cannot open the door for me. I watched him close the door as I was approaching. He did not care. This is only 1 example of several that I have to reflect the customer service that they provide of the same careless attitude toward their customers. Do NOT use this bank as you will be disappointed in customer service and you can see the numerous other 1-star reviews besides mine so I am not the only one.
On 11/27/22, I did a mobile deposit. The mobile deposit went through, and the app said it would be available the next day. So, I was ok with that. But what do I see when I wake up... nothing. I called and the rep stated that it would be the next morning due to the holiday. OK, no problem. Welp, it happened again, but this time there are now 2 mobile deposits on my account. One that says available tonight and another that says on hold until Dec 7th. Now what bothers me the most is, my father just died in Dec of 2021 now I am planning his mother's funeral. Trying to get prepared for a funeral with a 7-10 hold on a check is ridiculous. Nobody can tell my why. I deposited a check from the same company in Dec, just different amounts and there was NO ISSUES. They will not stop the check nor stop the hold. They do not care about their customers nor what we have going on.
In late August, my Visa credit card was scammed; but, I did not know where it happened. The next few days, there were fraudulent charges appearing on my account. I reported them and Regions canceled the Visa card and removed the charges. I received my new card a few weeks later and the first time I used it was at a POS device at a grocery store. The very next day, a $106 unauthorized charge appeared on my Visa account. This happened on the 3rd of Sept and I reported it on the 4th. Again, Regions cancelled the card; but, they although they accepted my dispute report, they did not put a hold on the fraudulent charge.
Late in the evening on the 4th, two more charges appeared ($658.72 & $305.38) on the cancelled account. Immediately, on the 5th of Sept, I again reported and disputed those two fraudulent charges. Regions accepted the dispute and said they would "investigate" and send me a letter within 30 days of the results of their investigations... I just received their summation where they deny my dispute and say that I had either "authorized or participated in the charges". They do not provide their findings... such as how they determined their conclusions... were there signatures??? I have been a responsible Regions customer for more than twenty years; however, this has cost me $1070 and makes me want to find another bank.
Every time you want to log in you have to have a text sent to your phone and twice validate, every time! I tried to contact someone from the company about it to potentially change the settings but the website literally bounces you from page to page looking for a "message me" button that doesn't seem to exist. The feedback button does not open the page which could be blocked by cookies but all of that time spent looking and trying to get a message to customer service is time wasted. Companies make it so hard to get in touch with someone when you have an issue and that needs to be a thing of the past.
Replacement card was requested 8/11/22. On 9/11/22, since it had not been received, that account was closed and a new card requested. It was again not received, so a replacement was requested on 10/5/22. In the meantime, the temporary card has expired. It cannot be extended. It cannot be reordered via phone. The closest office with Saturday hours is 65 miles away and only open until noon. All offices are closed until Tuesday due to a Monday Holiday. I have no access to my own funds and the newest card has a 7 - 10 BUSINESS DAY lead time to arrive, so I can expect it around 10/19.
The ONLY suggestion is to visit my branch, close the current Now Card and begin this completely absurd process again. No one felt that having to issue the card for the third time indicated that perhaps it won't be good customer service to overnight it! Yes, I am researching other banking options. I cannot begin to express my disdain for this lack of customer service.
Regions Bank Company Information
- Company Name:
- Regions Bank
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