Regions Bank does not charge a fee to open a checking account

You can open a Regions checking account with no opening fee. The bank offers several checking account types, and none of them require money upfront to create the account. What you pay depends on which account you choose and how you use it after opening.

The real costs come from monthly maintenance fees, overdraft charges, and minimum balance requirements — not from opening the account itself. Some account types waive these fees under certain conditions, while others charge them regardless.

Key Takeaways

  • Regions Bank charges no fee to open any of its checking accounts, but monthly maintenance fees vary by account type.
  • Monthly fees range from $0 to $15 depending on the account and whether you meet waiver conditions like direct deposit or minimum balance.
  • Overdraft fees and out-of-network ATM fees are separate charges that explore after the account is open.
  • You can waive monthly fees on most accounts by setting up direct deposit or maintaining a minimum balance, typically $500 to $1,500.

Monthly maintenance fees by account type

Regions offers three main checking account types: Essentials, Preferred, and Premium. Each has a different monthly fee structure.

Essentials Checking has a $5 monthly maintenance fee, but it is waived if you set up direct deposit or maintain a $500 minimum daily balance. This is the lowest-cost option if you can meet either condition.

Preferred Checking costs $10 per month, waived with direct deposit or a $1,500 minimum daily balance. It includes more ATM access and higher debit card limits than Essentials.

Premium Checking costs $15 per month and is waived only with direct deposit or a $2,500 minimum daily balance. It offers the most features, including higher transaction limits and priority customer service.

How to avoid monthly fees

The easiest way to avoid fees is to set up direct deposit. If your employer or benefits provider deposits your paycheck or income directly into your Regions account, the monthly maintenance fee disappears on any account type — no minimum balance required.

If direct deposit is not an option, you can waive the fee by keeping a minimum daily balance. The amount depends on your account type: $500 for Essentials, $1,500 for Preferred, and $2,500 for Premium. The balance is calculated daily, so you need to stay above the threshold every single day of the month.

Some customers find the minimum balance route difficult because it ties up money that could go elsewhere. Direct deposit is usually the simpler path if it is available to you.

Other costs after you open

Monthly maintenance fees are only part of the picture. Regions charges overdraft fees when you spend more than your balance, typically $35 per overdraft transaction. If you overdraft multiple times in one day, you may be charged multiple times.

Using ATMs outside the Regions network costs $2.50 per withdrawal. Regions has a large ATM network, so this is avoidable if you plan ahead, but it is worth knowing if you travel or live far from a Regions branch.

Returned check fees, wire transfer fees, and stop-payment fees also explore, though these are less common charges. Your account agreement will list all of them.

What you need to open an account

To open a checking account at Regions, you will need a government-issued photo ID, your Social Security number, and an initial deposit. The initial deposit can be as small as $25 for most account types, so the opening itself is not a financial barrier.

You can open an account online, by phone, or in person at a Regions branch. Online opening is fastest and takes about 10 minutes. In-person opening lets you ask questions and set up direct deposit on the spot if you have your employer information ready.

Comparing Regions to other banks

Many online banks and credit unions offer checking accounts with no monthly fee and no minimum balance, period. If you do not have direct deposit and cannot maintain a minimum balance, those options may cost less over time than any Regions account.

Regions' advantage is its physical branch and ATM network — useful if you deposit cash regularly or prefer in-person banking. The trade-off is that convenience costs money if you do not meet the fee-waiver conditions.

If you already bank with Regions or value the branch access, the Essentials account with direct deposit is competitive. If you are choosing a bank from scratch and want to minimize fees, compare Regions against online options like Ally, Charles Schwab, or a local credit union.

Frequently Asked Questions

Can I open a Regions checking account with no minimum deposit?

No. Regions requires an initial deposit to open, typically $25 or more depending on the account type. You can deposit this amount and then withdraw it once the account is open, though some banks hold new accounts for a few days before allowing withdrawals.

What happens if I do not meet the minimum balance or set up direct deposit?

You will be charged the monthly maintenance fee for your account type. For Essentials, that is $5 per month; for Preferred, $10; for Premium, $15. These charges are deducted from your account on a set date each month.

Can I switch from one Regions checking account to another without paying a fee?

Yes. Regions allows you to change account types without a fee. You can downgrade to Essentials if you want lower fees, or upgrade to Preferred or Premium if you want more features. The change usually takes effect within one business day.

Does Regions charge a fee to close a checking account?

No. You can close your Regions checking account at any time with no penalty. If you have pending transactions or automatic payments, make sure to cancel those first or move them to another account.