Regions Bank

Overview / Commentary
1900 Fifth Avenue North
Birmingham, AL 35203

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.

Related Posts

Regions Bank 18-Month Variable Traditional IRA Up To 4.60% APY - 10/21/2022

Due to system problems, Regions Bank rates are not available online today. But, I confirmed with CSR that the current rate on the 18-Month Variable IRA is now 4.60% APY based on this week's 6-month Treasury auction. This rate rivals the highest direct CD and Treasury rates available today for this maturity that are available in an IRA.  And, if you think 6-month Treasury rates will continue to rise,  this product will enable you to capitalize on those rising rates. If you are interested, you may want to check out my previous posts on this product.

Regions Bank 18-Month Variable Rate Traditional IRA Yielding 3.55% APY - 8/30/2022

I made a Forum post about this offering on July 31 when it was at 3.22% APY. As of yesterday's 6-month Treasury Bill auction, the yield is now up 33 bps to 3.55% APY. I find the product to be innovative, so I tried to get a bit more information. Availability: Branches in 15 states - Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, and Texas Key points: - Variable interest rate equals the weekly 6-month Treasury Bill + 25bps - APY is calculated based on weekly compounding - Traditional IRA's only - No monthly or annual fee - Minimum opening deposit of $250 - Add-on with a minimum of $50 - A transfer fee of $15 per account will apply if you transfer any IRA to another institution. - Early Withdrawal Penalty is all interest earned or 2% of amount withdrawn, whichever is less Customer Service Experience: - It was a bit of a challenge getting information on this product so, if yo

Regions Bank Offers Leading Rate On 18 Month Variable Rate IRA (3.22% APY) - 7/31/2022

Availability: According to their site "Regions serves customers across the South, Midwest and Texas" Interest Rate Calculation: "The interest rate on this deposit is equal to the discount rate of the new 6-month Treasury bill plus ¼%. The discount rate of the 6-month Treasury bill is determined by the weekly auction of the Federal Reserve. To this extent, the interest rate and Annual Percentage Yield (APY) earned on this deposit are subject to change weekly and may be deemed variable rates." May be of most interest to those who believe rates will continue to increase over the next 18 months and who value the ability to add-on. Available for Traditional IRA's only. Not available for Roth IRA or Coverdell Education Savings Accounts. Minimum opening deposit amount of $250. Additional deposits are permitted during the 18-month term, with a minimum of $50. IRA Time Deposits and Certificates are not eligible for relationship interest rates. [URL="

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7/15/16 - Regions Bank Extends LifeGreen Checking Bonus
2/24/16 - Regions Bank Offers Targeted $200 LifeGreen Checking Bonus
6/15/15 - [EXPIRED] Earn $350 For Opening A Checking Account At Regions Bank
10/20/14 - Earn $165 When You Open A LifeGreen Checking Account At Regions Bank
7/7/14 - Competitive 70-Month Promotional CD at Regions Bank
1/19/14 - Regions Bank Exits Payday Loan Business
4/17/13 - No Hackers To Blame For Regions’ Website Outage
3/22/13 - Another Regions Bank's $125 Checking Account Bonus - Available in Several States
7/31/12 - Regions Bank's $125 Checking Account Bonus in Several States
4/4/12 - Treasury: Regions Financial Repays TARP Funds
8/29/11 - Regions CD Owners Take Note
1/9/11 - Regions Bank CD Special Relationship Rates On 1/9/2011
12/7/10 - Regions Bank CD Special Relationship Rates
1/9/10 - 2.00% 12-Month CD, 2.50% 23-Month CD & 3.25% 42-Month CD at Regions Bank in Several States
12/16/09 - 2.00% 15-Month CD & 2.50% 23-Month CD at Regions Bank in Several States - Local Only
10/24/09 - 3.25% 42-Month CD at Regions Bank in Several States
9/20/09 - 3.25% 42-Month CD & 2.50% 23-Month CD at Regions Bank in Several States
4/21/09 - 3.25% 39-Month CD and Other Competitive CD Rates at Regions Bank
11/10/08 - Update on Regions CD and Money Market Account Promotions
10/9/08 - 4.00% Money Market Promotion and Update on CDs at Regions
10/3/08 - 5.00% 30-Month CD at Regions Bank
8/29/08 - 5.00% 6-Month CD at a Georgia Bank (Integrity Bank).
8/29/08 - 5.00% Reward Checking Account at a Georgia Bank (Integrity).
8/29/08 - 4.25% 10-Month CD at a Georgia Bank (Integrity).
8/5/08 - 4.00% 7-Month / 4.75% 30-Month CD at Regions Bank (Rates May Vary By State)

Reviews (121)

My Regions Bank

I see a lot of 1 star reviews, but I have only good things to say about my Regions bank. One month, my employer made an error and did not direct deposit my money into my account. I went in and talked to someone at the bank and they allowed me to overdraft (without charge) enough to pay my rent on time while my employer got the mistake untangled. The bank officer said if I needed more, to come back. In this world today, who would do this? I pride myself in not being late with bills, so it was important to me to pay the rent on time, and my other bank was in another state, and I could not get to it in time. They have won me as a customer for life.

Leaving Regions - Like Others Due To Indefinsible Deposit Holds

When we moved to Florida some 3 years ago there was a Regions just 5 minutes from our new home - very convenient. Since then the lobby area has increasingly remained closed (not even a sign on the door) - with only drive up service available. According to the Manager, this has been due to a shortage of personnel ... FOR WEEKS OR MONTHS. This is particularly true and aggravating on Fridays - a peak banking day for many.

As others have decided and posted, we will begin our account moves out of Regions to another institution on Monday - due specifically to these indefensible deposit holds ... 10 days or more - even for CASHIER CHECKS DEPOSITED FROM MAJOR BANKS BLOCKS AWAY! Of course these holds defeat the entire purpose of getting a cashier's check to speed financial transactions along in the first place. In fact, these Regions practices make a mockery out of the entire cashier check process within the industry.

I can only wonder if sitting on deposits like this could be a sign of deeper overall corporate financial concerns ...

A few phone calls today indicated "the norm" within the financial industry locally seems to be a 24 hour hold for cashier's checks. If not outright illegal, these practices seem unethical at best. Bye bye Regions.

Going Downhill Fast

Posted by: |

I've been banking with Regions for decades, but recently, there have been changes that make it difficult to stay with them. First of all, a year or so ago, they fired almost all of their long-time employees, leaving the staff shorthanded. Then they closed on Saturdays. Last week, I lost a credit card. I called the bank, they told me I had to call an 800 number to report the loss, they couldn't handle it in the office! 800 number has a wait time of 20 minutes, and they hung up on me after about 10. That's happened 3 times this week. As a result of COVID, I tried for weeks to set up online banking with no success. I have begun the process of moving my savings to another bank.

They Steal And Lie To Customers

I wanted to like Regions especially after leaving Wellsfargo after 18 years. First, they lied to me about the interest rate on my MMA. Quoted me one amount, then the next day emailed me that it was much lower and that the rates change daily. That would be fine if they quoted me that amount and the account was funded on another day, but it wasn’t. I went into the branch and was quoted the higher rate by the representative as well as her supervisor. Did a wire transfer which funded the account that same day that I was quoted the better rate. Escalated the complaint which did no good. The person in Complaints in Tennessee did nothing but listen and agree with me and said she would have the manager at the local branch contact me. The rate was never adjusted, never heard back from the manager after emailing the person in Tennessee again, so I moved the bulk of my money to a different bank. My checking account and small savings accounts are still there. On more than one occasion, I will receive a refund for something and it will show up in my transactions but it doesn’t reflect in my available balance. Since these accounts that are left at Regions are much smaller, it’s very easy to do the math. I do believe they steal money because they’re not applying my refunds. My balance never goes up when I receive a refund but shows up in the transactions as received. They are scammers and I’m already looking for another bank. I’ve only been with them since Nov 2022. The worst!



Health Grade Components

FDIC Certificate #12368
Year Established1928
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.47%
Return on Equity - YTD14.12%
Annual Interest Income$2.21B
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$159.8B$154.7B
LoansQ2 2022vs Q2 2021$92.62B$83.65B
DepositsQ2 2022vs Q2 2021$139.6B$132.8B
Equity CapitalQ2 2022vs Q2 2021$16.09B$18.52B
Loan Loss AllowanceQ2 2022vs Q2 2021$1.43B$1.60B
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$421.0MM$829.0MM
Real Estate OwnedQ2 2022vs Q2 2021$11.0MM$20.0MM

Sorry, we do not have rate data for Regions Bank.



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