Regions Bank


Overview / Commentary
800-734-4667
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.

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Best B&M I've Banked With

Posted by: |

You won't get the great rates like you might at an online bank, but for what it is, I think it's the best bank out there.

Regions is great

Regions has great locations in my town and easy to use application for the phone. I rarely even need to go to the branch now that I can deposit checks on my phone. It is so simple to check my balance and transfer money by using the app as well. Regions made it very simple to add my husband to our account without him being present.

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.

Rude. Unhelpful. Apathetic.

Posted by: |

Recently had an issue with my paycheck having a hold put on it for reasons that nobody was able to explain to me. Spent hours on hold ( 30 minutes on average per call) trying to get a live person on the phone to sort the situation out only to be told there was " nothing they could do". Excuse after excuse. First stalling and telling me that it would clear after the weekend. Then blaming the other bank for the hold explaining there was " nothing they could do" and I'd simply have to wait 11 days for the check to clear. Then when pressed, they explained that the hold was on their side " for everybody's protection", whatever that means and there was " nothing they could do" besides leave me flat broke for a week and a half. All this despite the fact that I had the information for the other bank for them to call and confirm the transfer. I was told they were " unable" to do that. After contacting the other bank they were able to fix the problem provided I called the local branch and verify my information. When I attempted to do that I was told one of the two people I was referred to had " gone home" despite the bank being open for another 2 hours and the other person in question was aware of the issue, but they were with a customer and would call me back later that day though they never did and continued to leave me flat broke. I wouldn't trust these people to feed my fish let alone manage my money.

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Health

Health Grade Components

Overall
FDIC Certificate #12368
Year Established1928
Employees19674
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.61%
Return on Equity - YTD4.65%
Annual Interest Income$1.08B
Assets and Liabilities
AssetsQ1 2020vs Q1 2019$132.7B$128.1B
LoansQ1 2020vs Q1 2019$87.10B$83.90B
DepositsQ1 2020vs Q1 2019$101.8B$98.36B
Equity CapitalQ1 2020vs Q1 2019$17.66B$15.90B
Loan Loss AllowanceQ1 2020vs Q1 2019$1.56B$853.0MM
Unbacked Noncurrent LoansQ1 2020vs Q1 2019$723.0MM$620.0MM
Real Estate OwnedQ1 2020vs Q1 2019$65.0MM$67.0MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Regions Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

Regions Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.01%--Lifegreen Savings
0.01%--Regions Savings
0.01%--Savings for Minors
0.01%--Business Savings
0.01%--Regions Now Savings

Regions Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.01%--Money Market Account
0.01%$50-Money Market IRA

Regions Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$500-60 - 72 Month Relationship CD
0.50%$500-Business 60 - 72 Month Relationship CD
0.50%$500-7 Month Promotional Relationship CD
0.50%$500-Business 7 Month Promotional Relationship CD
0.40%$500-48 - 59 Month Relationship CD
0.40%$500-Business 48 - 59 Month Relationship CD
0.30%$500-36 - 47 Month Relationship CD
0.30%$500-Business 36 - 47 Month Relationship CD
0.25%$500-24 - 35 Month Relationship CD
0.25%$500-Business 24 - 35 Month Relationship CD
0.15%$500-12 - 17 Month Relationship CD
0.15%$500$1mBusiness 12 - 17 Month Relationship CD
0.15%$500-18 - 23 Month Relationship CD
0.15%$500-Business 18 - 23 Month Relationship CD
0.10%$500-6 Month Relationship CD
0.10%$500-8 - 11 Month Relationship CD
0.10%$500-Business 8 - 11 Month Relationship CD
0.10%$500-Business 6 Month Relationship CD
0.05%$500-3 - 5 Month Relationship CD
0.05%$500-Business 3 - 5 Month Relationship CD
0.03%$2.5k-1 - 2 Month Relationship CD
0.03%$2.5k-Business 1 - 2 Month Relationship CD
0.01%$2.5k-0 Month Relationship CD
0.01%$2.5k$1mBusiness 0 Month Relationship CD

Regions Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$250-60 - 72 Month IRA
0.50%$500-7 Month Promotional IRA
0.43%$250-18 Month Variable IRA
0.40%$250-48 - 59 Month IRA
0.30%$250-36 - 47 Month IRA
0.25%$250-24 - 35 Month IRA
0.15%$250-12 - 17 Month IRA
0.15%$250-18 - 23 Month IRA
0.10%$250-6 Month IRA
0.10%$250-8 - 11 Month IRA
Locations

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