Regions Bank Review: Account Options for Every Need

Fine-tune your banking with the right Regions account.

Deciding where to bank is not a decision to make lightly. With 1,500 branches and 1,900 ATMs across 15 states, Regions Bank offers banking options throughout the Southeast and Midwest, where it serves approximately 4.4 million customers. With its wide variety of account options, you can tailor what Regions’ offers to your specific needs.

Keep reading to learn about the variety of services Regions offers, and decide if the bank is the best place to put your money.

Regions Bank Review

Regions was one of the 10 best national banks in GOBankingRates Best Banks 2018 ranking. It has received high customer satisfaction marks from J.D. Power and Associates. Regions recognizes that retail banking is changing. The bank is focused on training its bankers to serve customers efficiently and offer the best-fitting services, according to its 2017 annual review. Regions is also expanding its online and app-based services, like its new LockIt tool to prevent unwanted account charges.

Regions Bank Savings Accounts

With three savings accounts, you have options both for yourself and your children:

  • The Regions LifeGreen savings account has no minimum balance, no monthly fee and a 1 percent annual savings bonus.
  • The Regions Savings account is a simple low-fee option.
  • Savings for Minors offers a way to help your children start saving.

Regions Bank Checking Accounts

Regions Bank offers six checking account options, each designed to serve a specific need:

  • The eAccess Account is for people who primarily bank online.
  • The Checking Account for Students doesn’t require a monthly fee.
  • The 62+ Checking Account includes bonus features for seniors.
  • The Checking Account offers direct deposit and unlimited check writing.
  • The Simple Checking Account includes a low, flat monthly fee.
  • The Preferred Checking Account gives you the option to earn interest.

Regions Bank Money Market Account

You can secure a better interest rate with a Regions Money Market Account than you can with other accounts, and Regions has two money market options for you:

  • The basic Regions Money Market has a minimum opening balance of $100 and a monthly fee of $12 for balances under $2,500.
  • The Platinum Relationship Money Market requires a $15,000 deposit to open and has a $15 monthly fee, but you can avoid that fee by keeping the balance at $15,000 or pairing it with a Regions checking account.

Learn which banks offer the highest money market rates.

Regions Bank Certificates of Deposit

Another way to improve on savings rates is with a Regions CD account. Regions offers seven- to 89-day CDs for balances starting at $2,500. For minimum balances of $500, terms are 90 days or longer. Additionally, the bank offers promotional CDs for balances of $10,000 or more available for a limited time.

Maximize Your CD Strategy: 5 Ways to Make More Money With Your CD Ladder

Other Personal Banking Products From Regions Bank

In addition to its standard account products, Regions Bank offers a variety of credit-building products and loans.

Regions Bank Credit Card

Regions Bank offers four types of Visa credit cards:

  • Explore Visa is secured by funds in a savings account and built for people looking to build a credit history.
  • Life Visa has low interest rates for people who expect to carry a balance.
  • Prestige Visa signature offers 1 percent back on qualifying purchases in the form of Relationship Rewards Points.
  • Premium Visa Signature offers more rewards and a “premium array” of purchase and travel-related benefits.

Regions cards also come with Regions LockIt technology, which allows you to place controls on when and where your credit card can be used, helping you avoid any unauthorized charges and keeping your finances safer.

Regions Bank Mortgage Loan

Regions Bank offers mortgage loans at competitive rates, assistance through the mortgage process and loans tailored to individual customers to more specifically address their needs. What’s more, you can lock in your rate at various points in the process, allowing you to avoid getting burned by fluctuating mortgage rates.

Regions Bank Auto Loan

You can finance your new or used car through Regions Bank, with options for loans originating either at a regional branch or exclusively online. Both options range from $5,000 to $100,000, with rates as low as a 2.49% APR with the Auto-Debit Discount, as of May 2018. Both options require mileage of 90,000 miles or less on used vehicles and a loan-to-value ratio of up to 120 percent. Learn how to get the best auto loan rates.

Is Regions Bank Right for You?

As with many financial institutions, opinions surrounding the Regions Bank customer service vary. Customers have expressed an overall satisfaction with the quality of service and have praised the bank for providing a variety of financial products. It has scored big points for the convenience of the online and mobile banking options.

While Regions offers a wide variety of products and accounts, it doesn’t have competitive rates for all the products it offers. Its CD rates, for example, are below national average rates.

Regions is especially well-established in Alabama, Arkansas, Florida, Louisiana, Mississippi and Tennessee, where 80 percent of its deposits are held.  If you live in one of these states and are looking for a full-service bank with robust online and in-branch services, consider Regions.

Up Next: 10 Best Checking Accounts of 2018

This content is not provided by the company mentioned. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone and have not been reviewed, approved, or otherwise endorsed by Regions Bank.