Regions Bank is again 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 125, have at least $500 in total direct deposits and at least 10 Visa check card purchases in the first 60 days. Offer is scheduled to end on 4/7/2013. The offer is listed in this Region's promotion page.
There's no mention of this offer on Region's home page. It was being advertised, and I called this week to confirm its availability. At first, the online application was saying the "125" promo code had expired. I told the Regions CSR about this problem, and this has now been resolved.
Below is a copy of the offer's small print:
$125 bonus offer is non-transferable, may not be combined with any other offer, is available only to you (the individual to whom this online offer was presented), and does not apply if you already have a Regions Checking account. To earn this bonus, you must meet all requirements of the offer described above by the expiration date. If earned, the bonus will be issued within 130 days of the expiration date shown above, 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. This offer does not apply to PFS Checking accounts. All LifeGreen Checking accounts require a $50 minimum opening deposit. A monthly fee may apply to your LifeGreen Checking account, depending on account type, but this fee may be waived if certain conditions are met. For accounts opened in Iowa, the monthly 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. Refer to Regions LifeGreen Checking page for more details.
Readers have mentioned that Regions Bank does two hard credit inquiries in the checking account application process.
If you open the LifeGreen Checking and you plan to keep it, you may want to consider Region’s LifeGreen Savings Account. It offers an annual bonus interest rate of 1% (up to $100) if there are monthly automatic transfers from the checking to the savings of at least $10. For balances of $10,000 and under, this is a good deal. Plus, there is no monthly service fee for this savings account.
When I called Regions this week, I was told new customers must reside in Region Bank's footprint to open a checking account. Also, a Regions' FAQ does state that new customers must visit a local branch to order the first set of checks. So this isn’t a nationwide deal.
Regions Bank branches are located in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.
Regions is a large bank with over $120 billion in assets. The bank has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas ratio of 12.66% (above average) based on December 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.