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Regions CD Owners Take Note

Monday, August 29, 2011 - 8:25 PMRegions Bank
Effective October 1, 2011 Regions Bank is changing its' fees
such that a (formerly no monthly fee) checking account may be
assessed an $18 monthly fee. If you (like I) acquired one of
the very competitive Regions CD's, that
<Ken nicely detailed in his October 28, 2009 post>,
which also required the opening of a Regions checking account,
you will want to re-examine the checking account.

Most of you (like I) would have opened the "Regions Preferred
Plus" checking account since it had no annual or monthly fees
with the (minimum) $10,000 CD offer. Unless you satisfy one
of the criteria below, CLOSE THIS CHECKING ACCOUNT to avoid
getting hit with the $18/month fee; closing the checking
account in no way has an adverse effect on your Regions CD.

Excerpted from the Regions notice:

"You may avoid the [$18] monthly fee by meeting one
or more of the following criteria:

    1. Maintain a $5,000 average monthly statement
       balance on your [checking] account
   2. Combined $25,000 minimum deposit balances
       from all checking, savings, money markets,
       CDs and IRAs
   3. Combined $25,000 minimum outstanding loan
       balances from all personal line of credit,
       equity line of credit, equity loans and
       credit cards in good standing"

To further obfuscate matters the formerly named "Regions
Preferred Plus" checking account has been renamed "LifeGreen
Preferred Checking".
cumuluscumulus364 posts since
Jan 16, 2010
Rep Points: 1,703