Regions Bank is the banking division of the Regions Financial Corporation, which is one of the largest financial service providers in the United States. The bank provides individual and commercial customers with deposit and loan products and services, as well as trust and wealth management services. Regions Bank also employs Wealth Advisors on its wealth management side to provide customers with guidance on various investment and insurance products.
On its Personal Banking side, Regions offers its customers various depository products including Checking, Savings, Money Market, and Certificate of Deposit accounts. Multiple checking accounts are available that offer simple services like direct deposit and check writing. Several checking account offerings are customized for different demographics like seniors and students, and most of the accounts have no monthly fees. As far as savings accounts, Regions offers one with a good interest rate if conditions are met, as well as an account for minors. Money Market accounts are available as well and come with a monthly fee and minimum balance requirements. Regions also offers CDs that range in term lengths starting from as short of a period as 7 days.
Regions Bank online banking is a sophisticated Internet platform on which customers can pay bills, view check images, transfer funds, and manage their rewards. The bank’s reward program offers points for purchasing activities performed using a Regions-issued Visa checkcard. Regions Bank also has a mobile smartphone app that allows customers to perform tasks like bill pay, account management, mobile deposit, and fund transfer while on the go.
Regions Bank is headquartered in Birmingham, Alabama, and is the largest bank in the state and one of the largest banks in the southeastern United States. It operates over a thousand branches across multiple states in the region. Regions Bank was originally established as the Exchange-Security Bank in 1928 before changing its name to First Alabama Bank of Birmingham in 1975. After a series of acquisitions and mergers, the bank expanded its operations to cover the majority of the Southeastern United States. In 1994, the bank changed its name to Regions in order to reflect their expanding operational presence.
DO NOT use REGIONS bank or any AMsouth bank. They exist only to
find ways to remove money from your account. I have lost thousands
of dollars due to there incompetence on 2 different occasions. One
when a woman forgot to turn in paperwork to cancel a check card
when fraudulent charges showed up, thereby allowing my account to
be drained. Then tried to force me to pay hundreds in overdrafts
due to thier own incompetence!! When I contacted regions they ran
me around and literally did nothing. They lied to me about letting
me talk to a manager and only passed the phone to another low level
employee who lied to me about his position.
Less than a year later they did almost the same thing, failing
to close an account and tried to
hold me acountable for fraudulent charges after the account was
supposed to be closed. When I finally did get through to a higher
up, he told me..... "while I wasn't on the phone for that
converstation now was I?" "Lets see you prove it" Yeah this was MY
Simply put, they care nothing about thier customers, only finding
ways to part them from thier money through hidden rediculous
Bottom line... WHY take a chance? GO ELSEWHERE!!!
To make a long story short, Regions allowed a debit on my account by another person for over $800. Wow! Talk about your money not being safe!!! I never got a clear answer as to why they'd let someone by a totally different name than what's on the account withdrawl any amount of money. They told me it would be 3-5 days before I'd get the money credited back to my account and because the weekend was coming up, it'd take even longer.
My husband when down to the branch to complain and they called the police on him. How do you like that for customer service?!!! Oh yeah, they didn't credit our account until several days later and then we immediately closed it!!!!
I went to cash my check at regions, to which I have an account with, and they told me that I could not cash my payroll check because I did not have the enough money in my account to do so. When I know myself that I was not in the negative at all. Wth? I will no longer be going there to do my banking. I would give them no stars if I could but that isn't an option, so I had to give them at least one.
My family has taken out two Mortgages through Regions Bank. I Had also been a loyal customer of Regions Bank Customer for over 12 years. About 6 months ago, my state Identity and Regions Bank card was stolen and all my funds were drained from my account. Regions Bank assured me the problem would be taken care of and I would not be held responsible for any of the debited funds. The person who stole my identity also used fraudulent checks (not my checks) to withdraw money from my current balance. (Eg. He used stolen checks and cashed the stolen checks at a Regions Bank. The transaction was taken by a Regions Bank Employee who then cashed the fraudulent checks on my account. When the checks were returned, Regions bank charged my account for the Fraudulent Checks and the funds were debited out of my account for the amount of the Fraudulent Checks. )
I waited for over 5 months for some action to be taken. I took all necessary steps in which Financial Advisors Sean, Mia, and Michelle Bergeron asked of me at Regions Bank Cheshire Bridge. I was told I would be contacted by their Corporate Security Officer Frank and he would be the one to tell me when the funds would be released. It is now 6 months later and I have not received $1 of the large sum of money that I was told I would not be held responsible for. The last conversation I had with Michelle Bergeron is that Regions were exiting their relationship with me after 12 years and goodbye. I will be contacting the FDIC and also the BBB. I plan on posting this review on every possible review web site. DO NOT BE TAKEN ADVANTAGE OF LIKE I WAS. Regions does not stand behind their protocol or any of it's policies with the FDIC. Everything in this statement is true and I will stand behind everything stated. This has destroyed my credit and also my trust in any banking system.
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Regions Bank had $1.54 billion in non-current loans and owned real-estate with $17.25 billion in equity and loan loss allowances on hand to cover it. This gives Regions Bank a Texas Ratio of 8.95% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Regions Bank decreased slightly from 12.58% as of December 31, 2012 to 8.95% as of December 31, 2013, resulting in a positive change of 28.90%.This indicates that the balance sheet and financial strength for Regions Bank has improved slightly in recent periods.
In the past year, Regions Bank has decreased its total deposits by -$2.61 billion, resulting in -2.7% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Regions Bank has shown is below average.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Regions Bank has $116.61 billion in assets with $17.25 billion in equity, resulting in a capitalization level of 14.79%, which is excellent.
|FDIC Certificate #||12368|
|Assets and Liabilities|
|Equity Capital||$15.91 billion|
|Loan Loss Allowance||$1.34 billion|
|Unbacked Noncurrent Loans||$1.41 billion|
|Real Estate Owned||$131.46 million|
|Historic Data - December 2012|
|Equity Capital||$16.51 billion|
|Loan Loss Allowance||$1.92 billion|
|Unbacked Noncurrent Loans||$1.41 billion|
|Real Estate Owned||$146.22 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.31%|
|Return on Assets||1.1%|
|Return on Equity||8.07%|
|Interest Income||$3.64 billion|
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|0.01%||-||-||Savings for Minors|
|0.25%||$100k||$1m||Platinum Relationship Money Market Special|
|0.25%||$50||-||Money Market IRA|
|0.25%||$50||-||Money Market Roth IRA|
|0.25%||$50||-||Money Market CESA|
|0.15%||$100k||-||Platinum Relationship Money Market|
|0.01%||-||-||Money Market Account|
|0.01%||-||-||Lifegreen Preferred Checking|
|0.01%||-||-||Business Interest Checking|
|1.01%||$10k||$1m||58 Month CD Special|
|1.01%||$10k||$1m||Business 58 Month CD Special|
|0.60%||$500||-||60 - 72 Month Relationship CD|
|0.60%||$500||-||Business 60 - 72 Month Relationship CD|
|0.50%||$500||-||48 - 57 Month Relationship CD|
|0.50%||$500||-||59 Month Relationship CD|
|0.50%||$500||-||Business 48 - 57 Month Relationship CD|
|0.50%||$500||-||Business 59 Month Relationship CD|
|0.30%||$500||-||36 - 47 Month Relationship CD|
|0.30%||$500||-||Business 36 - 47 Month Relationship CD|
|0.20%||$500||-||30 - 35 Month Relationship CD|
|0.20%||$500||-||24 - 29 Month Relationship CD|
|0.20%||$500||-||Business 24 - 29 Month Relationship CD|
|0.20%||$500||-||Business 30 - 35 Month Relationship CD|
|0.10%||$500||-||12 - 17 Month Relationship CD|
|0.10%||$500||-||18 - 23 Month Relationship CD|
|0.10%||$500||-||Business 12 - 17 Month Relationship CD|
|0.10%||$500||-||Business 18 - 23 Month Relationship CD|
|0.05%||$500||-||6 - 11 Month Relationship CD|
|0.05%||$500||-||Business 6 - 11 Month Relationship CD|
|0.03%||$500||-||1 - 5 Month Relationship CD|
|0.03%||$500||-||Business 1 - 5 Month Relationship CD|
|0.01%||$2,500||-||0 Month Relationship CD|
|0.01%||$2,500||-||Business 0 Month Relationship CD|
|1.01%||$4k||-||58 Month IRA Special (Traditional,CESA,Roth)|
|0.60%||$250||-||60 - 72 Month IRA (Traditional,Roth,CESA)|
|0.50%||$250||-||48 - 57 Month IRA (Traditional,Roth,CESA)|
|0.50%||$250||-||59 Month IRA (Traditional,CESA,Roth)|
|0.33%||$250||-||18 Month Variable Rate IRA (Traditional,Roth,CESA)|
|0.30%||$250||-||36 - 47 Month IRA (Traditional,Roth,CESA)|
|0.20%||$250||-||24 - 29 Month IRA (Traditional,Roth,CESA)|
|0.20%||$250||-||30 - 35 Month IRA (Traditional,Roth,CESA)|
|0.10%||$250||-||12 - 17 Month IRA (Traditional,Roth,CESA)|
|0.10%||$250||-||18 - 23 Month IRA (Traditional,Roth,CESA)|
|0.05%||$250||-||6 - 11 Month IRA (Traditional,Roth,CESA)|