Regions Bank


Overview / Commentary
205-326-5151
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 Rate IRA Yielding 5.33% APY - 2/28/2023

I posted about this product several months ago, but rates have increased dramatically, so I am updating. Because it is an IRA, it does not seem to get covered in the regular CD Deals Summary. Availability: Quoting DA, "Regions Bank is the banking division of the Regions Financial Corporation, which is one of the largest financial service providers in the United States." This offering is available in 15 states: Alabama, Arkansas, Florida, Georgia, Indiana, Illinois, 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 - Traditional IRAs only (Not available for Roth IRAs) - Minimum opening deposit of $250 - Add-on deposits allowed with a minimum deposit of $50 Early Withdrawal Penalty (EWP) - I was told by a CSR that there is no EWP if a withdrawal is made after age 59 1/2. Being somewhat skeptical, I went on a search of the Deposit Agreement and

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8/21/17 - Regions Bank Has $200 LifeGreen Checking Bonus
1/18/17 - $400 Checking Bonus Available At Regions Bank
1/10/17 - Regions Bank Offers $300 LifeGreen Checking Bonus
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 (132)

Holding My Money

Posted by: |

I had a friend help me out. He got some of his friends to donate me some money to get my teeth worked on and other things I needed.
They deposited checks. Regions thought they looked suspicious so they put a block on my account.
When I talk to them at my branch they said they thought they were fraudulent and they were protecting me and themselves in case they were bad. I was asked if I knew who deposited them. I told them the truth no I didn't and it came as a surprise to me. But I said when I called my friend they people preferred to remain anonymous. But I said thats fine hold them until you see that they are good.
Its been two months and they still have my account blocked holding my money. You would think if they were fraudulent it would have showed by now.
But they will not close out my account and send me my money. What do I do?

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.

DONT EVER BANK HERE THEY WILL RUIN YOUR CREDIT SCORE!!!

Posted by: |

Honestly this has been the most unprofessional bank I’ve ever had the displeasure of being a part of it doesn’t matter whether you pay online, over the phone with an agent, OR IN PERSON! They will not accept your payment for credit cards. I’ve unfortunately been a poor soul attached to one of their credit cards for 3 years and I’ve had 8 bounced payments not due to the lack of money(I have plenty to pay their pitiful minimum payment) but due to the fact they don’t have customer service bums that know what they are doing, their online service makes windows 1.0 look like a super computer, their live agents are a less expensive hallmark card, the poor things are worse than useless(I’m calling them stupid because they are) and even when I went into a physical branch and paid that way I still managed to get something wrong. Im done, im sick of it, and honestly better not catch the CEO slipping on the streets I’ll curb stomp his dumb ass for all the late fees he brought me. Those fuckers ruined my credit score no fault of my own. Would rate in the negatives if I could.

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Health
B+

Health Grade Components

Overall
FDIC Certificate #12368
Year Established1928
Employees20150
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.57%
Return on Equity - YTD15.94%
Annual Interest Income$5.14B
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$152.9B$156.8B
LoansQ3 2023vs Q3 2022$97.83B$94.01B
DepositsQ3 2023vs Q3 2022$129.3B$137B
Equity CapitalQ3 2023vs Q3 2022$14.48B$14.59B
Loan Loss AllowanceQ3 2023vs Q3 2022$1.55B$1.42B
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$722MM$551MM
Real Estate OwnedQ3 2023vs Q3 2022$14MM$13MM
Rates

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

Locations

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