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Regions Bank has a great reputation throughout its service area in the South and Midwest. Its strong relationship benefits and excellent customer service help it stand out, but it also offers a variety of flexible accounts for many types of people.
Read our full Regions Bank review to learn about all it has to offer.
Regions Bank is a good fit for those who value great customer service and plan to do all their banking in one place. Relationship benefits abound if you open multiple accounts with the bank, and you'll have plenty of options to choose from. But its APYs aren't all that impressive.
Regions Bank currently offers four savings accounts.
The Regions LifeGreen® Savings account is a fee-free checking account with no balance requirements. Its annual percentage yield (APY) is low, which is typical of most brick-and-mortar banks. But it does offer an annual savings bonus to customers who set up automated savings transfers to this account.
The Regions Savings account has a waivable monthly fee and a low APY. Its only real perk is a discount on a safe deposit box. But unless that appeals to you, you might as well go with one of the other accounts listed here or try a different bank altogether.
The Regions Savings for Minors account is similar to the Regions LifeGreen® Savings account for adults. But it's geared to children under 18. It has no monthly maintenance fee or minimum balance requirement (though you need $5 to open the account).
The Regions Now Savings account is only available to those who have a Regions Now prepaid Visa card. If you have one of these or are interested in opening one, this account is your best bet for a savings account at Regions Bank. It has no monthly maintenance fee or balance requirements. And while its APY is low, it comes with an annual savings bonus and a monthly builder bonus if you make deposits and no withdrawals.
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
Account | APY | Promotion | Next Steps |
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Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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up to 4.60%²
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
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New customers can earn up to a $300 bonus with qualifying direct deposits!¹
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Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
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Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
4.25%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 11, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
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N/A
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Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website. |
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Open Account for UFB Portfolio Savings Account
On UFB's Secure Website.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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5.15%
Rate info
To ensure you keep getting the highest rate at UFB, you'll need to keep an eye on their rates. Occasionally, the bank launches new accounts with higher rates. Existing accounts need to contact the bank to request being moved to one of these new accounts.
Min. to earn: $0
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N/A
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Open Account for UFB Portfolio Savings Account
On UFB's Secure Website. |
Regions Bank currently offers two types of certificates of deposit (CDs).
You can open a Regions CD Account with terms ranging from seven days to 72 months. This makes it worth considering if you're interested in CD laddering. It's rare to find terms shorter than three months or longer than 60 months, so Regions Bank could be worth looking into if you're interested in these. But the APYs aren't that competitive with the CDs offered by online banks.
The Regions Promotional CD Account is only open to those who already have a Regions Bank checking account. It comes with higher APYs and a variety of terms, but it also has a $10,000 minimum balance requirement, which is steeper than what many other banks require.
If you're looking for some of the best CD rates around, one of these banks might be a better fit for you.
Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
---|---|---|---|---|
Member FDIC.
| APY: 4.60% | Term: 1 Year | Min. Deposit: $2,500 |
Open Account for Discover® Bank CD
On Discover Bank's Secure Website. |
Member FDIC.
| APY: 5.20% | Term: 10 Months | Min. Deposit: $2,500 |
Open Account for
On Secure Website. |
Member FDIC.
| APY: 5.10% | Term: 6 Months | Min. Deposit: $500 |
Open Account for
On Secure Website. |
Regions Bank offers its customers a choice between six checking accounts, most of which have waivable checking account fees.
The Regions LifeGreen® Checking Account has a waivable monthly fee and unlimited check-writing capabilities. It also gives you the opportunity to earn cash back rewards if you have a Regions CheckCard or Now Card. Plus, you can earn discounts on loans and relationship rates on savings products.
The Regions LifeGreen eAccess Account® also has a monthly fee, but it's waivable if you make enough Regions CheckCard or credit card purchases every month. You're only allowed three free checks with this account and then you start paying a per-check fee, so it's not a great fit for those who write checks often.
The Regions LifeGreen Preferred Checking® Account is the bank's interest-bearing checking account. It also offers cash back rewards and a host of other relationship benefits. But you'll want to be sure you can waive the high monthly fee before you sign up. If you can't, you may end up losing more than you gain with this account.
The Regions LifeGreen® Checking Account for Students is geared toward students 25 and younger. It has no monthly maintenance fee and it includes check-writing capabilities. You can also link this account to a Regions Bank savings account for overdraft protection.
This account is only available to people 62 and older. It's similar to the other checking accounts here in that it has a waivable monthly fee and it comes with a host of relationship benefits. These include discounts on loans and safe deposit boxes, and relationship rates on savings accounts.
The Regions Now Checking℠ Account has a lower monthly fee than you see with Regions' other checking accounts, but there's no opportunity to waive it. However, it has other perks, like no overdraft fees, that might help make up for this.
Regions Bank's customers tend to be pretty satisfied with the service they receive. In J.D. Power's 2021 U.S. Retail Banking Satisfaction Study, the bank scored above average in every region it featured in. It also maintains an A+ rating with the Better Business Bureau, though customer reviews on the BBB page rank it at about 3 out of 5 stars.
Regions Bank offers a variety of perks to customers who open more than one account with the bank. These include:
This is a wider array of benefits than you normally see, so Regions Bank could be a good fit if you want to be rewarded for doing all your banking in the same place.
If Regions Bank doesn't seem like the right choice for you, consider one of these banks instead.
Ally Bank is an online-only bank that offers a variety of banking products, including checking and savings accounts, CDs, loans, and more. Its rates are significantly more competitive than Regions Bank's, but you have to be comfortable managing your money entirely online. And you won't get any kind of relationship benefits for opening more than one account.
Charles Schwab Bank is also known for excellent customer service. While its APYs aren't quite as high as some of its competitors, they are better than Region Bank's. And none of its deposit accounts charge maintenance fees. But this is another bank that doesn't have relationship benefits.
Regions Bank could be a good choice for you if:
In addition to the deposit accounts mentioned above, Regions Bank also offers the following.
Regions Bank offers two money market accounts:
The two accounts are similar, but they differ in terms of available APYs and how much you have to keep in the account to avoid the monthly maintenance fee.
Regions Bank offers the following credit cards:
Regions Bank offers a variety of mortgage loan options, including:
Regions Bank provides the following loans as well:
Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.
These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.
We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.
Learn more about how The Motley Fool Ascent rates bank accounts.
Regions Bank is a well-known regional bank with excellent customer service and a variety of banking products. But like most brick-and-mortar banks, its APYs on deposit accounts aren't the highest.
Regions Bank has excellent customer service. The bank has scored highly in surveys conducted by J.D. Power, and it has an A+ rating with the Better Business Bureau.
Yes, Regions Bank is FDIC insured. This covers $250,000 per depositor, per institution, in the event of a bank failure.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.