Whether Regions is right for you depends on what you need from a bank and what you're willing to trade off

Regions Bank is a mid-sized regional bank operating in the South and Midwest, with over 1,500 branches. It offers standard checking and savings accounts, credit cards, mortgages, and investment services. The bank has been operating since 1971 and is FDIC-insured, which means deposits up to $250,000 per account are protected if the bank fails.

Whether it's a good fit for you depends on three things: whether you live or work near a branch, what fees matter most to you, and whether you prefer in-person banking or can work entirely online. Regions is strongest for people who want a physical location to visit and don't mind paying for convenience. It's weaker for people who prioritize low fees or live outside its service area.

Key Takeaways

  • Regions has physical branches in 15 states, mostly in the South and Midwest, so location is the first question to ask yourself.
  • Monthly maintenance fees on checking accounts range from $0 to $15 depending on the account type and whether you meet balance or deposit requirements.
  • Regions' mobile app and online banking work for routine transactions, but the bank charges fees for things like overdrafts and out-of-network ATM use that other banks waive.
  • Customer service quality varies by location and issue type, so read recent reviews specific to your local branch before opening an account.
  • If you're comparing Regions to online-only banks, you'll likely pay more in fees but get access to in-person help and a physical place to deposit cash.

Checking and savings accounts: what the fees actually are

Regions offers several checking account tiers. The basic option is called Regions NOW Checking, which has a $0 monthly fee if you maintain a $500 minimum balance or have a direct deposit of at least $500 per month. If you don't meet either requirement, the fee is $15 per month. That's higher than many competitors—online banks like Ally or Charles Schwab charge $0 with no minimums.

Savings accounts start at $0 monthly fees but come with low interest rates. As of early 2024, Regions' savings account paid around 0.01% annual percentage yield (APY), while online savings banks were paying 4% to 5%. If you're saving money, the difference compounds quickly. A $10,000 deposit would earn roughly $1 per year at Regions versus $400 to $500 at an online bank.

Overdraft fees are $35 per transaction, and Regions allows multiple overdrafts per day, so a single mistake can cost you $70 or more. Many banks now offer overdraft protection or waive the first overdraft per year. Regions does not.

ATM access and out-of-network fees

Regions has its own ATM network, and using a Regions ATM is free. But if you need cash outside that network, you'll pay $2.50 per transaction. That adds up if you travel or live in an area without Regions branches nearby. Some regional banks and most online banks reimburse out-of-network ATM fees or partner with larger networks like Allpoint or MoneyPass to avoid the charge altogether.

The size of Regions' ATM network depends on your location. In Tennessee, Alabama, and Louisiana, the network is dense. In states like Colorado or Oregon, Regions has few or no branches, so you'd be paying out-of-network fees regularly.

Customer service: what to expect

Regions offers phone support during business hours and online chat during limited hours. There's no 24/7 phone line. For urgent issues outside business hours, you're limited to the mobile app or waiting until morning. Online banks like Ally and Discover offer phone support around the clock.

Customer satisfaction scores for Regions vary. The bank consistently ranks in the middle range on the J.D. Power customer satisfaction index—not the worst, but not among the best either. Reviews on sites like Trustpilot and Google show a mix of positive experiences with local branch staff and frustration with phone support wait times and resolution speed.

The quality of service often depends on your local branch. Some customers report helpful, knowledgeable staff; others report long waits and staff who can't resolve issues without transferring you multiple times. Before opening an account, read reviews specific to the branch you'd use.

When Regions makes sense and when it doesn't

Regions is a reasonable choice if you live or work near a branch and value in-person banking. You might need to deposit cash regularly, prefer talking to someone face-to-face about financial decisions, or want a place to go if something goes wrong. For those situations, the fees and lower interest rates are a trade-off you're making consciously.

Regions is a poor choice if you're primarily looking for low fees and high savings rates. You'll pay more in monthly maintenance and overdraft fees, earn almost nothing on savings, and get charged for using ATMs outside the network. Online banks beat Regions on all three counts.

Regions is also not ideal if you live outside its service area. You'd be paying out-of-network ATM fees constantly and wouldn't have a branch to visit. In that case, a national bank like Chase or Bank of America, or an online bank, makes more sense.

How Regions compares to other banks

Against other regional banks in the South and Midwest—like Renasant Bank or Trustmark—Regions is similar in fee structure and service offerings. The main difference is branch density. Regions has more locations, so you're more likely to find one nearby.

Against national banks like Chase or Bank of America, Regions charges similar fees but has fewer branches outside its core region. You'd choose Regions over a national bank only if you live in its service area and prefer a smaller institution.

Against online banks like Ally, Charles Schwab, or Discover, Regions is more expensive. You pay higher fees, earn lower interest, and get limited customer service hours. You're paying for the physical branch, not for better banking.

Red flags and common complaints

The most common complaints about Regions involve overdraft fees, long phone hold times, and difficulty reaching someone who can actually resolve a problem. Some customers report that disputes take weeks to investigate and that the bank sides with merchants more often than customers expect.

Another recurring issue is that promotional rates on savings accounts or CDs expire and drop to very low rates without much notice. If you open a promotional account, set a reminder to check the rate before the promotion ends and move your money if needed.

A few customers report that branch staff made errors on accounts or were slow to correct them. This is not unique to Regions, but it's worth noting that if something goes wrong, you may need to visit the branch in person to fix it quickly.

Frequently Asked Questions

Is my money safe at Regions Bank?

Yes. Regions is FDIC-insured, which means deposits up to $250,000 per account type are protected if the bank fails. This protection applies to checking, savings, and money market accounts. If you have more than $250,000, spread it across account types or multiple banks to stay fully protected.

Can I use Regions if I don't live near a branch?

Technically yes, but it's not practical. You can do most banking online or through the mobile app, but you'll pay $2.50 every time you need cash from an ATM outside Regions' network. If you deposit checks or cash regularly, you'll need a branch or ATM nearby. An online bank or national bank would be cheaper.

What's the interest rate on Regions savings accounts?

As of early 2024, Regions' standard savings account pays around 0.01% APY, which is far below the 4% to 5% offered by online banks. If building savings is your goal, you'll earn significantly more money elsewhere. Regions' rates are not competitive for savers.

How long does it take to resolve a dispute at Regions?

Regions has 10 business days to acknowledge a dispute and up to 45 days to investigate and resolve it, which is the federal standard. Some customers report that investigations take the full 45 days and that the bank doesn't always side with the customer. If the dispute involves fraud, contact your local police department and file a report—that can speed up the process.

Does Regions offer overdraft protection?

Regions does not automatically waive overdraft fees or offer free overdraft protection like some banks do. You can link a savings account to cover overdrafts, but you'll still pay a fee if the transfer happens. The best approach is to monitor your balance carefully or switch to a bank that waives overdraft fees entirely.