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Regions Bank's $125 Checking Account Bonus in Several States

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Regions Bank

Regions Bank is advertising a checking account promotion in which you can earn $125. This is another big bank that lacks free checking so you'll have to be careful to avoid monthly fees. The offer requires a new customer open a LifeGreen Checking Account online with the promo code Online125Bonus, have at least $500 in total Direct Deposits and at least 10 Visa CheckCard transactions in the first 60 days. Offer is scheduled to end on 9/30/2012. The offer is listed in this Regions promotion page.

There's no mention of this offer on Region's home page. I found it being advertised on Google so it doesn't appear targeted. Below is a copy of the offer's small print:

$125 incentive offer is non-transferable, may not be combined with any other offer, and available only to the individual to whom this online offer was presented, who cannot already have a Regions checking account. Limit one incentive per household. To receive this incentive, by September 30, 2012 you must open a new Regions checking account and have payroll or government direct deposits of at least $500 and at least 10 Visa® CheckCard transactions in the first 60 days. After all requirements have been met, incentive will be issued within 90 days of this date and will be in the form of a credit to the new checking account, which must be open at the time the credit is issued. All deposit accounts are subject to the Regions Deposit Account Agreement. A $50 minimum opening deposit is required to open a LifeGreen Checking account. A monthly fee may apply to your checking account, depending on account type, but may be waived if certain criteria are met. For accounts opened in Iowa, this fee is subject to Iowa State Sales Tax of 6%, which will be assessed at the time the fee is charged, unless exempt.

LifeGreen Checking account has a $10 monthly fee unless the customer uses direct deposit (at least one payroll or government direct deposit per statement cycle of at least $500 or a combined amount of $1000) OR maintain a $1,500 average monthly balance. The customer's first order of Regions custom single-wallet style checks are $6.95. Refer to Regions LifeGreen Checking page for more details.

Availability

When I last checked with Regions, new customers were required to visit a branch to complete a new account application. A Regions' FAQ does state that new customers must visit a local branch to order the first set of checks.

Regions Bank branches are located in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.

Bank Overview

Regions is a large bank with over $124 billion in assets. It just recently paid back all of its TARP funds it had received during the financial crisis.

The bank has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas ratio of 16.11% (average) based on March 2012 data. Please refer to our financial overview of Regions Bank for more details. The bank has been a FDIC member since 1934 (FDIC Certificate # 12368).

Other Bank Bonuses

We have a bank promotions page with a table of all of the active bank and credit union promotions. You can filter the table based on the type of promotion and based on your state. I have more details about how to use this page in this blog post.

You can view my latest bank bonus blog posts in this bank bonus page. I and DepositAccounts.com readers often post on bonuses in the checking account deals forum.

  Tags: Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas, checking account, Regions Bank

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Comments
12 comments.
Comment #1 by Anonymous posted on
Anonymous
They do 2 hard credit pulls plus chexsystems. Not worth it to me.

7
Comment #2 by Anonymous posted on
Anonymous
Anyone know if ACH counts as Direct Deposit with Regions?

1
Comment #3 by Anonymous posted on
Anonymous
In their LifeGreen checking account fees part, they refered:"Use Direct Deposit (at least one payroll or government direct deposit per statement cycle of at least $500 or a combined amount of $1000)" to avoid the $10 monthly fee. So I guess that the ACH push would not be counted.

1
Comment #4 by Anonymous posted on
Anonymous
@ #2 & #3 : From the bank's promotion webpage:  "To receive this incentive, by September 30, 2012 you must open a new Regions checking account and have payroll or government direct deposits of at least $500 and at least 10 Visa® CheckCard transactions in the first 60 days. "

1
Comment #5 by Anonymous posted on
Anonymous
i went to local branch, and the local sales staff did not know of offer. i printed out offer and deliveried to branch to open checking and savings.... so, be sure to have printed offer.

1
Comment #6 by Anonymous posted on
Anonymous
I stopped by a branch and the manager said that only US Government and payroll ACH count as direct deposits for this offer.

4
Comment #7 by Anonymous posted on
Anonymous
Can someone confirm that a Branch visit is required even when applying online?

 

Thank you

 

1
Comment #8 by Anonymous posted on
Anonymous
I went to a local branch. They did not know how to apply this promotion and said no method to do so.

1
Comment #9 by Anonymous posted on
Anonymous
This sounds like a lot of banks. The left hand

doesn't know what the right hand is doing..

1
Comment #10 by Anonymous posted on
Anonymous
 

"REGIONS BANK IS A SCAM, DON'T JOIN THIS BANK EVER!!!WOW, I WISH I WOULD HAVE FOUND THIS SITE BEFORE I FELL FOR THE SCAM ADVERTISEMENT FOR OPENING A FREE CHECKING ACCOUNT W/REGIONS BANK AND RECEIVE A FREE $125 VISA GIFT CARD. ONCE I SIGNED UP FOR THE ACCOUNT, THERE WERE A LOT OF HIDDEN STIPULATIONS BEHIND RECEIVING THIS GIFT CARD, I THEN DECIDED TO CLOSE THE ACCT OVER THE PHONE AND THE BANK CLOSED ACCT AND STOLE HALF MY MONEY, I ORIGINALLY DEPOSITED $50 AND THEY CHARGE ME A $25 EARLY CLOSING ACCT FEE, "WHAT THE HELL IS THIS; THIS WAS A MONTH AGO AND I HAVE COMPLAINED TO THE HEADQUARTERS AND STILL NO RESPONSE.  IN THE END, I WILL HAVE EARNED MY MONEY BACK IF A LEAST ONE PERSON READS THIS AND IS DETERRED FROM JOINING THIS BANK, ALSO THEY STILL HAVE THE NERVE TO SEND ME ADVERTISEMENT FOR MORTGAGE LOANS NOW THAT I AM LOOKING TO PURCHASE A HOUSE, HILARIOUS! IN THE END I AM GLAD THAT I ONLY LOST $25 DOLLARS INSTEAD OF REGIONS BANK'S CURRENT CUSTOMERS WHO ARE PROBABLY LOSING MILLIONS DUE TO BEING SCAMMED BY THE BANK'S OUTRAGEOUS HIDDEN FEES, GOOD LUCK! MY ADVICE IS TO GET WITH A CREDIT UNION THEY ARE  MUCH BETTER AND LESS CROOKED...

1
Comment #11 by JT (anonymous) posted on
JT
This is bogus.  I called Regions to set up an account and they said this was not true. 

1
Comment #12 by Anonymous posted on
Anonymous
I OPEN AN ACCOUNT, IN JUNE WAS TOLD I NEEDED TO DO A BILL PAY TO GET THE $125, THEN I WAS TOLD THAT ,MY DEPOSIT OF $500 MUST BE ONE TRANSACTION INSTEAD OF TWO WHICH I SET UP AND WASNT TOLD OF , I GUESS THEY DONT WANT TO PAY ME THE $125, I KNEW TO GOOD TO BE TRUE, WILL BE CLOSING ACCOUNT SOON.

1