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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2/24 - Regions Bank Offers Targeted $200 LifeGreen Checking Bonus
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)
Best B&M I've Banked With
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
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.
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.
Data as of Q1 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 12368 |
| Year Established | 1928 |
| Employees | 19674 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.61% |
| Return on Equity - YTD | 4.65% |
| Annual Interest Income | $1.08B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2020vs Q1 2019 | $132.7B$128.1B |
| Loans | Q1 2020vs Q1 2019 | $87.10B$83.90B |
| Deposits | Q1 2020vs Q1 2019 | $101.8B$98.36B |
| Equity Capital | Q1 2020vs Q1 2019 | $17.66B$15.90B |
| Loan Loss Allowance | Q1 2020vs Q1 2019 | $1.56B$853.0MM |
| Unbacked Noncurrent Loans | Q1 2020vs Q1 2019 | $723.0MM$620.0MM |
| Real Estate Owned | Q1 2020vs Q1 2019 | $65.0MM$67.0MM |
