The amount of the bonus and the requirements to qualify for the bonus have varied each time, with the latest LifeGreen Checking bonus being $200.
LifeGreen Checking $200 Bonus Requirements
- Open any personal LifeGreen Checking Account by September 30, 2016, online using Promo Code 200DIG, or in person using a personalized voucher that will be sent via email.
- Make 10 Purchases with Regions Visa CheckCard within first 60 days of account opening.
- Have $500 or more in qualifying ACH direct deposits (i.e., payroll or government payment) within 60 days of account opening.
- Receive a $200 credit to your new LifeGreen Checking Account within 120 days of completing the above.
LifeGreen Checking $200 Bonus Limitations
- Offer is non-transferable and only available to the person who has registered.
- Only valid for those who do not have or did not have a Regions’ checking account on or after August 1, 2015.
- Only applies to personal LifeGreen checking accounts.
- New LifeGreen checking account must be open at the time the credit is issued.
Regions Bank offers six different LifeGreen checking accounts: LifeGreen Checking, LifeGreen eAccess Account, LifeGreen Simple Checking, LifeGreen Preferred Checking, 62+ LifeGreen Checking, and LifeGreen Checking for Students. To determine which checking account is best for you, please refer to Regions Bank's Compare Checking Accounts page.
Opening any LifeGreen Checking account requires a $50 minimum deposit. The monthly fees, ranging from $2 to $10 paper statements, can be waived if an average monthly balance is maintained (different amounts for different checking accounts), or at least one payroll or government Direct Deposit of at least $500 per statement cycle occurs.
In addition to the LifeGreen Checking, Regions Bank also offer LifeGreen Savings, which is an automated savings plan directly linked to a companion LifeGreen Checking. A LifeGreen Savings can be opened with a minimum $50 deposit and can earn up to $100 with the 1% annual savings bonus. (A monthly automatic transfer of at least $10 from a LifeGreen Checking to the LifeGreen Savings for 12 months is required to earn the 1% annual savings bonus.) There is no monthly fee associated with this savings account. The interest rate on LifeGreen Savings may vary by state, but currently it is 0.01% APY in all states.
As stated previously, this LifeGreen Checking bonus is only available for new Regions checking customers in Atlanta, GA; Jacksonville, Miami, Orlando, and Tampa, FL; Indianapolis, IN; New Orleans, LA; Charlotte, Raleigh-Durham, NC; Nashville, TN; Dallas, Houston, and Austin, TX.
Note: Since I last wrote about this bonus in February, Regions expanded the availability to include Jacksonville (FL), Indianapolis (IN), New Orleans (LA), Charlotte, and Raleigh-Durham (NC).
Regions Bank (FDIC Charter #12368) has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 7.45% (excellent), based on March 31, 2016 data. In the past year, Regions Bank has increased its total deposits by $410.72 million, an above average annual growth rate of 0.41%. Please refer to our financial overview of Regions Bank for more details.
Headquartered in Birmingham, Alabama, Regions Bank is the largest bank in the state and one of the largest banks in the southeastern United States with assets in excess of $124 billion. Regions Bank was originally established in 1928 as the Exchange-Security Bank, and subsequently changed 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, with more than 1,600 branches in 16 states, stretching from Iowa to Florida. In 1994, the name was changed to Regions Bank in order to reflect their expanding operational presence.
How Regions Bank's LifeGreen Checking Bonus Compares
There are too many variables between the six different LifeGreen Checking accounts to make a blanket comparison. Let’s use the LifeGreen eAccess Account, as there is no average monthly balance required to waive the monthly fee, as long as at least 10 Regions CheckCard purchases are made per month.
Assuming that the initial $500 Direct Deposit is left undisturbed for four months:
- $500 in a 1.0% savings account for 4 months = $1.67 interest
- $500 in a LifeGreen eAccess Account for 4 months = $200 bonus
Other Bank Promotions and Bonuses
Not eligible for Regions Bank’s LifeGreen Checking bonuses? Check out my latest bank and credit union bonus blog posts to find other promotions. In addition, DepositAccounts.com readers and I also post often on bonuses in the Bank Promotions Forum.