Regions Bank Review 2024 (2024)

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The bottom line: 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.

Overall bank rating

Pros and cons

Regions LifeGreen® Savings Account

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

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

Regions Bank offers a variety of CD terms, 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

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.

Regions Bank: Frequently asked questions