What you need to open a Regions savings account

To open a savings account at Regions Bank, you will need a government-issued photo ID, your Social Security number, and an initial deposit. Regions offers savings accounts both in person at a branch and online through their website. The process takes about 15 to 20 minutes in a branch, or roughly 10 minutes online if you already have an account with them.

Your initial deposit amount depends on the type of savings account you choose. Some Regions savings products have no minimum opening deposit, while others require $25 or more. You can fund the account with cash, a check, or a transfer from another bank account.

If you do not have a government ID yet, Regions may accept other documents — call your local branch at the number on their website to ask what they can work with. Having your documents ready before you go in or start an online process will speed things up.

Key Takeaways

  • You will need a photo ID, Social Security number, and an opening deposit to start a Regions savings account.
  • Opening in person at a branch takes about 15 to 20 minutes, while online opening takes roughly 10 minutes if you are already a Regions customer.
  • Some Regions savings accounts have no minimum opening deposit, while others require $25 or more — check the specific account details before you start.
  • You can fund your new account with cash, a check, or a transfer from another bank account.
  • If you do not have a traditional photo ID, call your branch first to learn what other documents Regions will accept.

Opening a savings account in person at a Regions branch

Walking into a branch is the most straightforward route if you are new to banking or prefer to ask questions face-to-face. Bring your photo ID, Social Security number (or an ITIN if you do not have a Social Security number), and your opening deposit. A Regions employee will walk you through the account setup, explain the features of the savings account you chose, and answer any questions about how the account works.

The employee will ask you to sign paperwork and may ask about the source of your opening deposit — this is a standard banking question, not a sign of a problem. Once you sign, your account opens when ready. You will receive a debit card in the mail within 7 to 10 business days, and you can start using your account right away through the branch or online.

If you do not know which Regions branch is closest to you, visit the Regions website and use their branch locator tool. You can also call Regions customer service at the number on their website to find a nearby branch and confirm their hours before you go.

Opening a savings account online

If you already have a checking account or other product with Regions, you can open a savings account on their website without visiting a branch. Log into your Regions online banking account, look for the option to open a new account, and follow the prompts. The process asks for your Social Security number and the opening deposit amount, then transfers the money from your existing Regions account.

If you do not yet have any account with Regions, you can still open a savings account online, but the process is longer because Regions will need to verify your identity more thoroughly. You will provide your photo ID information, Social Security number, and answer security questions. This verification usually takes one business day, and Regions will contact you if they need additional information.

Once your account is open, you can log in when ready to see your balance and set up transfers. Your debit card will arrive in the mail within 7 to 10 business days. If you need to deposit cash before your card arrives, you can do so at any Regions ATM or branch.

Understanding Regions savings account types

Regions offers several savings account options, and the one you choose affects your opening deposit requirement and the interest rate you earn. A basic savings account typically has no minimum opening deposit and is designed for people building their savings from scratch. A money market account usually requires a higher opening deposit but pays a higher interest rate if you keep a larger balance.

Interest rates change over time and vary based on how much money you keep in the account. Regions publishes current rates on their website, and you can compare them before you open. The account paperwork will show you the rate at the time you open, and Regions will notify you if the rate changes.

If you are not sure which account fits your situation, ask a Regions employee in the branch or call customer service. They can explain the differences and help you pick the account that matches how you plan to use it.

What happens after you open your account

Once your account is open, you can deposit money by visiting a branch with cash or a check, transferring money from another bank account online, or using a Regions ATM. Your debit card will arrive in the mail, and you can set up it by calling the number on the back or through your online banking account.

Set up online banking if you have not already — this lets you check your balance, move money between accounts, and set up automatic transfers without visiting a branch. You can also set up direct deposit if your employer or a government program sends you money regularly. Direct deposit moves money into your account automatically on payday, so you do not have to go to the bank.

Regions will send you a monthly statement showing all deposits, withdrawals, and interest earned. You can receive this by mail or view it online. Keep your statements for at least a year so you have a record of your account activity.

Fees and things to watch for

Regions savings accounts may charge fees for certain actions — for example, if you withdraw money more than a set number of times per month, or if your balance falls below a minimum. The account paperwork lists all possible fees before you open, so read it carefully. Ask a Regions employee to explain any fee you do not understand.

Some fees can be avoided by keeping a minimum balance or by setting up direct deposit. Others explore only if you use certain services. Knowing the fees upfront helps you choose an account that fits your budget and your banking habits.

If a fee is charged to your account and you believe it was a mistake, contact Regions customer service. They can review the charge and may reverse it if there was an error.

Frequently Asked Questions

Can I open a Regions savings account if I do not have a Social Security number?

Yes. If you have an ITIN (Individual Taxpayer Identification Number) instead of a Social Security number, Regions will accept it. Bring your ITIN documentation along with your photo ID and opening deposit. If you are unsure whether your document qualifies, call your local branch before you go.

How long does it take to get my debit card after I open the account?

Your debit card arrives in the mail within 7 to 10 business days. You can start using your account when ready through online banking or at a branch, even before the card arrives. If you need cash right away, you can withdraw it at a Regions branch or ATM using your account number.

Can I open a savings account online if I have never banked with Regions before?

Yes, but the process takes longer because Regions must verify your identity more thoroughly. You will provide your photo ID information and answer security questions. Verification usually takes one business day, and Regions will contact you if they need additional documents.

What is the difference between a savings account and a money market account at Regions?

A basic savings account has no minimum opening deposit and is designed for people starting to save. A money market account usually requires a higher opening deposit but pays a higher interest rate. Money market accounts may also limit how many times you can withdraw per month. Ask a Regions employee which account matches your savings goals.

What should I do if I lose my debit card after I open my account?

Call Regions customer service when ready using the number on the back of your card or on your statement. They will deactivate the lost card and send you a replacement within 7 to 10 business days. You can still access your money through online banking or at a branch while you wait for the new card.