Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate banking products to write unbiased product reviews.
Regions is one of the best banks, especially in the Southeast. It's a good option if you prefer a bank with a variety of bank accounts or a large branch network. But if your goal is to earn a high interest rate or avoid account fees, you'll likely fare better at another institution.
Regions Bank Overall Rating
| Feature | Personal Finance Insider rating (out of 5) |
| Savings | 3.5 |
| Checking | 3.75 |
| Money market accounts | 3.5 |
| CDs | 3.75 |
| Trustworthiness | 4 |
| Total | 3.75 |
Regions Bank Pros and Cons
| Pros | Cons |
|
|
Regions LifeGreen® Savings Account
no monthly service fee
0.01%
$5 at a branch, $50 online
- No monthly service fees
- You could earn a 1% annual savings bonus
- $5 minimum deposit when opened at a branch
- $50 minimum deposit when opened online
- Low APY
- 1,300 branch locations in 15 states
- 2,000 free ATMs
- To earn the 1% annual bonus (up to $100), set up monthly automatic transfers from your Regions checking account to your LifeGreen Savings account
- Interested compounded daily, paid monthly
- FDIC insured
The Regions LifeGreen® Savings Account doesn't charge monthly service fees and has a $5 minimum opening deposit if you open the account at a branch.
The account works best if you have a checking account with Regions. If you set up monthly automatic transfers from your checking account, you could earn up to $100 through the saving account's 1% annual bonus.
Regions Bank LifeGreen® Checking Account
$8 or $11 monthly service fee
None
$50
- Free overdraft protection available
- Receive qualifying direct deposits up to 2 days early
- Possible to waive monthly service fee
- $50 minimum opening deposit
- $11 or $8 monthly service fee
- $3 out-of-network ATM fee
- $36 overdraft fee if overdrawn by more than $5
- 1,300 branch locations in 15 states
- 2,000 free ATMs
- $11 monthly service fee with paper statements, $8 monthly service fee with online statements
- To avoid the monthly service fee, keep at least $1,500 in your account monthly, make a $500 single direct deposit, OR a $1,000 combined direct deposit
- Free overdraft protection lets you link your checking account to a savings account
- Overdraft fee can be avoided by making a deposit before 8 p.m. Central Time the following business day
- FDIC insured
You might like the Regions Bank LifeGreen® Checking Account if you're able to avoid the account's monthly service fees, out-of-network ATM fees, and overdraft fees.
To waive the account's monthly service fee, you'll need to keep at least $1,500 in your account monthly, make a $500 single direct deposit or a $1,000 combined direct deposit. If you don't want to deal with monthly service fees at all, consider running through our best checking accounts guide.
Regions Bank Regions Bank CD
0.01% to 4.50%
$500 to $2,500
- $500 minimum opening deposit on terms longer than 3 months
- Variety of terms to choose from
- Standard early withdrawal penalties
- $2,500 minimum opening deposit on terms shorter than 3 months
- Low interest rate
- 1,300 branch locations in 15 states
- 2,000 free ATMs
- Terms range from 7 days to 6 years
- Minimum opening deposit of $2,500 for terms shorter than 3 months; $500 minimum opening deposit on terms longer than 3 months
- Early withdrawal penalties: All the interest you would have earned on the withdrawn amount on terms between 7 days and 31 days, all interest earned on the amount withdrawn as of the date of withdrawal or 1% of the amount withdrawn, whichever is less; for terms between 32 and 364 days, all interest earned on the amount withdrawn as of the date of withdrawal or 2% of the amount withdrawn, whichever is less; for terms of 365 days or more see Regions Deposit Agreement for more details
- Interest compounded daily, and paid according to the terms of the CD: Monthly, quarterly, semi-annually, annually or at maturity
- FDIC insured
Regions Bank offers a variety of Regions Bank Regions Bank CD, ranging from seven days to six years. It pays competitive rates on its promotional 8-month and 14-month terms, but otherwise, its rates are very low.
If your priority is to find a bank that pays a high rate, our best CD rates guide will have a more suitable match.
Regions Bank Money Market Account
$12 monthly service fee
0.01%
$100
- $100 minimum opening deposit
- Possible to waive the monthly service fee
- Check writing included
- Low interest rate
- $12 monthly service fee
- 1,300 branch location in 15 states
- 2,000 free ATMs
- To waive the $12 monthly service fee, maintain at least $2,500 in your account monthly
- Interest compounded daily, deposited monthly
- FDIC insured
The Regions Bank Money Market Account may be worthwhile if you're able to keep at least $2,500 in your account so you can waive the $12 monthly service fee. Otherwise, the Regions savings account is likely a stronger option.
How Regions Bank Works
Regions Bank has 1,300 branches and 2,000 ATMs. You'll find a brick-and-mortar location in any of the following states:
- Alabama
- Arkansas
- Florida
- Georgia
- Illinois
- Indiana
- Iowa
- Kentucky
- Louisiana
- Missouri
- Mississippi
- North Carolina
- South Carolina
- Tennessee
- Texas
Customer service is available over the phone 24/7.
The bank's mobile app is rated 4.8 out of 5 stars in the Apple store and 4.7 out of 5 stars in the Google Play store.
Regions Bank is FDIC-insured, which means that up to $250,000 is protected in an individual bank account.
Regions Bank Trustworthiness and BBB Rating
Regions Bank has an A- grade from the Better Business Bureau due to government action taken against the bank.
In 2022, the Consumer Financial Protection Bureau required Regions Bank to pay a total of $191 million in a settlement that accused the bank of charging customers surprise overdraft fees after some ATM withdrawals or debit card purchases.
Regions Bank vs. Fifth Third Bank
Fifth Third Bank has over 1,087 branches in 10 states, while Regions Bank has over 1,300 branches in 15 states.
If you don't want to make an initial deposit, Fifth Third Bank is likely your best option. Its savings and checking accounts have a $0 minimum opening deposit.
You also might lean more toward Fifth Third Bank if you're specifically searching for a checking account. The Fifth Third Momentum Checking doesn't charge any monthly service fees. At Regions, you'll need to meet certain requirements to waive a fee.
You may prefer Regions Bank if you want to open a savings account, though. The Regions LifeGreen® Savings Account available to Regions checking customers doesn't charge any monthly service fees, and you'll have the opportunity to earn a 1% annual savings bonus if you set up monthly automatic transfers from your Regions Bank LifeGreen® Checking Account.
Regions Bank vs. Truist Bank
Truist Bank is another regional bank located in the Southeast region of the US. Your decision between the two banks may ultimately come down to where you live. Regions Bank has over 1,300 branches in 15 states. Truist Bank has over 2,500 branches in 17 states, plus Washington, DC.
You also might want to consider bank account fees and minimum opening deposits.
Regions Bank and Truist Bank both have free savings accounts. However, for checking accounts, Truist Bank offers more ways to waive checking account fees, but Regions Bank has lower monthly services.
Why You Should Trust Us: How We Reviewed Regions Bank
We rate bank accounts on a scale from one to five stars. For Region Bank's checking, savings, and money market accounts, we used Personal Finance Insider's bank account ratings methodology. The exact factors we evaluate vary depending on the type of account — for example, we look at overdraft fees for checking accounts and interest rates for savings and money market accounts.
For Region's CDs, we used our CD rating methodology which looks at interest rates, minimum opening deposits, early withdrawal penalties, CD variety, customer support availability, mobile app ratings, miscellaneous features, and the security and ethics of the company.
We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.
Regions Bank: Frequently Asked Questions
Yes, Regions is a legitimate bank with branches throughout the Southeast and Midwest. It is a Member FDIC bank.
Regions Bank may be a good option if you live in the Southeast US and prefer brick-and-mortar banks to online banks. It offers solid free savings account with a low minimum opening deposit if you open the account at the branch. It also has a variety of checking accounts, but you may need to meet certain requirements to waive monthly service fees on checking accounts.
The Regions Bank LifeGreen® Checking Account has a $50 minimum opening deposit. If you get the Regions LifeGreen® Savings Account, there's a $5 minimum opening deposit at branches if you set up monthly automatic savings transfers from a Regions checking account, otherwise it's $50.
