Review: Is Regions Bank the Place to Put Your Money?
The multitude of options you’re faced with when choosing a new bank can be overwhelming — should I go for savings? Checking? CD? — and the easy way out is often picking a banking institution quickly and without much forethought. This is a great way to cheat yourself out of a bank with a stable history and strong track record.
If you’re on the hunt for a new financial institution, there are more than a few reasons to give Regions Bank a chance. Headquartered in Birmingham, Ala., Regions offers a variety of personal banking, business, investment and insurance products.
Regions Bank Review
If you are interested in opening a new deposit account to manage your bills or increase your personal savings, here are several options available at Regions Bank.
Regions Bank Savings Account: Don’t keep your cash under the mattress; a Regions Bank savings account is one of the easiest ways to maximize your personal savings. With three savings account options, there’s something for everyone. Choose between a low-fee or a no-fee basic savings account for yourself, or open an account for your children and help them develop responsible financial habits early.
Regions Bank Checking Account: Regions Bank offers five checking account options. Whether you want direct deposit with unlimited check-writing privileges, an online checking account, a low-fee checking account or interest checking, there’s an account that’s right for you.
Regions Bank Money Market Account: Not happy with the rate of return on your savings account? You’re not alone. Fortunately, a money market account with Regions Bank can help you reach your financial goals sooner. Choose between a basic or a premium account. Regardless of your personal financial needs — saving for retirement, a down payment or a nest egg — a money market account can put you on the right path.
Regions Bank Certificate of Deposits: A money market account isn’t the only way to earn a higher return on your savings. Regions Bank CD rates are competitive, and since returns are guaranteed, there is little to no risk. CD terms can be as little as seven days. There is no monthly maintenance fee, interest compounds daily and there’s the option to automatically renew your certificate of deposit at maturity.
Other Personal Banking Products Offered by Regions Bank
Regions Bank Credit Card: Regions Bank offers four types of credit cards that include choice features, such as 0% interest on balance transfers for the first seven months, no annual fees and the option to earn reward points. If you’re seeking an account to build your credit history or a card with bonus perks, such as lost luggage replacement, trip cancellation insurance or Visa Signature Concierge services, a Regions credit card might be a good fit.
Regions Bank Mortgage Loan: Regions Bank mortgage rates are at an all-time low. Whether you’re interested in buying a starter home or building your dream house, there is a mortgage option to meet your purchasing needs. Choose between a fixed-rate or an adjustable-rate mortgage, or learn about loans available to first-time home buyers. A Regions Bank home loan might also be the solution if you’re interested in refinancing your mortgage or applying for a home equity loan.
Regions Bank Auto Loan. If you’re buying or refinancing a car, apply for an auto loan with Regions Bank and enjoy rates as low as 2.04%. Finance up to 130% of the car’s value for up to 75 months (depending on the age of the automobile).
Pros and Cons of Regions Bank
As with many financial institutions, opinions surrounding the Regions Bank customer service vary among account holders. Some customers seem overall happy with the level of service and praised the bank for providing a wide variety of financial products. For example, Regions online banking and mobile banking scored big points, as many customers appreciate the convenience of managing their accounts and paying bills from a computer or mobile device.
The ability to direct deposit checks was another big plus, as many account holders like that they can give their employers a Regions Bank routing number and account number and avoid the bank on payday.
Unfortunately, there were complaints regarding Regions Bank hours. Most branch locations are not open on Saturdays. And while many other banks stay open longer on Fridays, Regions Bank closes at 5 p.m. Another disadvantage is that Regions Bank is only located in 16 states throughout the South and Midwest.
How to Get Started with Regions Bank
Who says that you can’t get everything you need from a single bank? Regions Bank is committed to offering the financial solutions you desire and providing an uncomplicated banking experience. To learn more about the bank’s products and services, visit the Regions Bank website or stop by your local branch.