Over 1,300 branches, 24/7 customer service

Overall bank rating

Advantages and disadvantages

Savings

Annual Percentage Yield (APY)

0.01% APY

Minimum deposit amount

$5 in store, $50 online

Annual Percentage Yield (APY)

0.01% APY

Minimum deposit amount

$5 in store, $50 online

More information
  • 1,500 branches in 15 states
  • 2,200 free ATMs
  • To earn the 1% annual bonus (up to $100), set up automatic monthly transfers from your Regions checking account to your LifeGreen savings account
  • Interest compounded daily, paid monthly
  • FDIC insured

The Regions LifeGreen® Savings Account does not charge a monthly service fee and has a minimum opening deposit of $5 if you open the account at a branch.

The account works best if you also have a checking account with regions. If you set up monthly automatic transfers from your checking account, you could earn up to $100 with the 1% annual savings account bonus.

Verification

Annual Percentage Yield (APY)

Nothing

Minimum deposit amount

$50

Annual Percentage Yield (APY)

Nothing

Minimum deposit amount

$50

More information
  • 1,500 branches in 15 states
  • 2,200 free ATMs
  • $11 monthly service fee with paper statements, $8 monthly service fee with online statements
  • To avoid monthly service charges, keep at least $1,500 in your account each month, make a single direct deposit of $500 OR a combined direct deposit of $1,000.
  • Overdraft protection lets you link your checking account to a savings account
  • FDIC insured

You might like Regions Bank’s LifeGreen® Chequing Account if you can avoid monthly account service fees, out-of-network ATM fees and overdraft fees.

To waive the monthly account service fee, you will need to keep at least $1,500 in your account per month, make a single direct deposit of $500, or a combined direct deposit of $1,000. If you don’t want to deal with monthly service fees at all, consider browsing our guide to the best checking accounts.

CD

Annual Percentage Yield (APY)

$500 to $2,500

Minimum deposit amount

0.01% to 0.05% APY

Annual Percentage Yield (APY)

$500 to $2,500

Minimum deposit amount

0.01% to 0.05% APY

More information
  • 1,500 branches in 15 states
  • 2,200 free ATMs
  • Terms range from 7 days to 6 years
  • Minimum opening deposit of $2,500 for terms less than 3 months; Minimum opening deposit of $500 for terms longer than 3 months
  • Early withdrawal penalties: All interest you would have earned on the amount withdrawn on terms between 7 days and 1 month; 30 days of simple interest for periods between 1 month and 6 months; 90 days of simple interest for terms between 6 months and 1 year; 182 days of simple interest for terms of 1 year or longer
  • Interest compounded daily, deposited monthly, quarterly or annually
  • FDIC insured

Regions Bank offers a variety of CD terms, ranging from seven days to six years. However, it pays low interest rates.

If your priority is finding a bank that pays a high rate, our guide to the best CD rates will be a more suitable match.

Money market account

Annual Percentage Yield (APY)

0.01% APY

Minimum deposit amount

$100

Annual Percentage Yield (APY)

0.01% APY

Minimum deposit amount

$100

More information
  • 1,500 branches in 15 states
  • 2,200 free ATMs
  • To waive the $12 monthly service fee, maintain at least $2,5000 in your account per month
  • Interest compounded daily, deposited monthly
  • FDIC insured

The Regions Bank Money Market Account can be useful if you are able to keep at least $2,500 in your account so that you can waive the $12 monthly service fee. Otherwise, the Regions Savings Account is probably a more solid option.

How the Bank of Regions works

Regions Bank has 1,300 branches and 2,000 ATMs. You will find a physical location in one of the following states:

  • Alabama
  • Arkansas
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Iowa
  • Kentucky
  • Louisiana
  • Missouri
  • Mississippi
  • North Carolina
  • Caroline from the south
  • Tennessee
  • Texas

Customer service is available by phone 24 hours a day, 7 days a week.

The bank’s mobile app is rated 4.8 out of 5 stars in the Apple Store and Google Play Store.

Regions Bank is FDIC insured, which means up to $250,000 is protected in an individual bank account.

Is the Bank of Regions trustworthy?

Regions Bank received an A+ rating from the Better Business Bureau. A good BBB rating indicates that a bank is likely to respond to customer concerns, advertise honestly, and follow transparent business practices.

A good BBB rating does not necessarily mean that your interactions with a company will be smooth. Read customer reviews online or speak with current members to get a more comprehensive perspective on the institution.

Regions Bank has not been involved in any recent public scandals.

How Regions Bank Compares

We compared Regions Bank to two other national financial institutions located in the Southeast: Fifth Third Bank and Truist Bank.

If you are looking for a bank with multiple physical locations nearby, your decision between these three institutions may largely depend on where you live. Truist Bank has the most branches, so this might be the first institution you want to check out.

You may also want to consider bank account fees and minimum opening deposits.

Regions Bank and Truist Bank both offer a free savings account. At Fifth Third Bank, you will need to have at least $500 in your account per month or pay a monthly service fee of $5.

If you don’t want to make an initial deposit, Fifth Third Bank is probably your best option. His savings and


check accounts

have a minimum opening deposit of $0.

Truist Bank can be useful if you only plan to open a savings account, as it does not charge any monthly service fees on Truist Bank’s online savings account.

Joseph P. Harris