UPDATE 1/19/2017: The $400 bonus is no longer available.
A week ago, I wrote about Regions Bank’s (Regions) $300 LifeGreen Checking bonus. How quickly things change. Regions is now offering a $400 LifeGreen Checking bonus, and the Direct Deposit requirement has been dropped.
$400 Bonus Requirements
- Open any personal LifeGreen Checking Account by January 31, 2017, online using Promo Code 400MC3, 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.
- Enroll in Online Statements within 60 days of account opening.
- Receive a $400 credit to your new LifeGreen Checking Account within 120 days of completing the above.
$400 Bonus Limitations
The limitations on the $400 bonus are the same as for last week’s $300 bonus.
- Offer is non-transferable and only available to the person who has registered. (“To receive this offer, the email address in Regions' system at the time of fulfillment must match the one used to register for this offer and open your new account.”)
- Only valid for those who do not have or did not have a Regions’ checking account on or after August 1, 2016.
- Only applies to personal LifeGreen checking accounts.
- New LifeGreen checking account must be open at the time the credit is issued.
- There is a $25 Early Termination Fee if the account is closed within 180 days of opening.
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.
Opening any LifeGreen Checking account requires a $50 minimum deposit. The monthly fees can be waived, but each LifeGreen Checking account has a different requirement, including maintaining an average monthly balance is maintained, at least one payroll or government Direct Deposit of at least $500 per statement, or a minimum of ten CheckCard purchases. Please refer to Regions Bank's Compare Checking Accounts page to determine which account would be best for you.
Note: When I read about the $400 bonus, the first question that popped into my head was, “What about all those who applied for the $300 bonus last week?” We should know relatively soon if Regions is offering an “upgrade,” since people who feel they have been wrongly denied love to talk about it. If you have a tale to tell, please share it with us.
Headquartered in Birmingham, Alabama, Regions Bank’s market area includes Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, and Texas.
In the past, the LifeGreen Checking bonus was only available in specific metropolitan areas, but this $400 bonus (like the $300 bonus) is available to all residents within the market area.
Regions Bank (FDIC Certificate #12368) has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 7.56% (excellent), based on September 30, 2016 data. In the past year, Regions Bank has increased its total non-brokered deposits by $2.43 billion, an above average annual growth rate of 2.47%. 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, having 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 $400 Bonus Compares
Without the Direct Deposit requirement, this is essentially a $400 gift for opening a new LifeGreen Checking account. As one of DA’s readers is fond of saying, “Sure beats getting a toaster.”
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.