Regions Checking Accounts Have No Minimum Balance Requirement
Regions Bank does not require you to keep a minimum balance in any of its standard checking accounts. You can open an account and maintain a zero balance without penalty or account closure. This applies to their most common checking products, including the Regions Basic Checking and Regions Checking accounts.
However, the absence of a minimum balance requirement does not mean there are no costs. Regions charges a monthly maintenance fee on most checking accounts unless you meet certain conditions that waive it. Understanding what those conditions are matters more than the minimum balance rule, because the fee is what actually costs you money each month.
Key Takeaways
- Regions checking accounts have no minimum balance requirement, so you will not be penalized for having zero dollars in the account.
- Most Regions checking accounts charge a monthly maintenance fee, typically between $5 and $12 depending on the account type.
- You can waive the monthly fee by setting up direct deposit, maintaining a linked savings account with a minimum balance, or meeting other account activity requirements that vary by product.
- The fee waiver conditions matter more than the minimum balance rule because they determine whether you pay anything at all each month.
How Monthly Maintenance Fees Work at Regions
Regions charges a monthly maintenance fee on checking accounts, but you have multiple ways to avoid paying it. The most common fee waiver is setting up direct deposit—if your paycheck or government benefit deposits directly into the account, the monthly fee is waived. This is the easiest path for most people because it requires no ongoing balance and no additional action after setup.
A second option is maintaining a linked savings account with a minimum balance. The balance requirement for the savings account varies by account type, but typically ranges from $300 to $500. If you keep that amount in savings and link it to your checking account, your checking maintenance fee is waived. This works if you have money available to set aside but do not receive direct deposits.
A third option, available on some Regions checking products, is maintaining a minimum balance in the checking account itself—usually $500 to $1,000 depending on the account. This is different from saying the account requires a minimum balance; it means you can choose to keep that balance to avoid the fee, but you are not forced to. If you do not meet any of these conditions, you pay the monthly fee.
Which Regions Checking Accounts Have the Lowest Costs
Regions Basic Checking is designed for customers who want to minimize fees. It has no minimum balance requirement and a lower monthly maintenance fee than premium accounts—typically $5 per month. The fee is waived if you set up direct deposit, which makes this account free for most employed people and benefit recipients.
Regions Checking is the standard product and carries a higher monthly maintenance fee, usually around $12. It also offers more features, such as higher ATM refund limits and better overdraft protection options. The fee waiver conditions are the same: direct deposit, linked savings account with minimum balance, or maintaining a checking balance of $500 to $1,000.
If you are not sure which account you have or what your fee waiver conditions are, log into your Regions online account or call the customer service number on the back of your debit card. They can tell you exactly what would waive your fee and whether you currently may have access to.
What Happens If You Do Not Meet Fee Waiver Conditions
If you do not set up direct deposit, do not maintain a linked savings account with the required balance, and do not keep the minimum checking balance, you will be charged the monthly maintenance fee. This fee posts to your account automatically each month, typically on the same date. At $5 to $12 per month, that adds up to $60 to $144 per year.
The fee does not close your account or prevent you from using it. You can continue to write checks, use your debit card, and make deposits and withdrawals. The fee straightforward reduces your balance each month. If your balance falls below zero because of the fee, Regions will charge an overdraft fee on top of the maintenance fee, which compounds the cost.
The best way to avoid this is to choose the fee waiver option that fits your situation. If you receive a paycheck or benefit deposit, direct deposit is free and requires no ongoing effort. If you do not, a linked savings account with $300 to $500 is usually the next easiest option.
How to Set Up Direct Deposit to Waive Your Fee
Direct deposit is the simplest fee waiver. You need to provide your employer or benefit administrator with your Regions account number and routing number. Both appear on the bottom left of your checks, or you can find them by logging into your online account or calling Regions customer service.
Once your employer or benefit administrator has this information, they will deposit your paycheck or benefit payment directly into your account. This usually takes one to two pay cycles to set up. After the first direct deposit posts to your account, Regions will automatically waive your monthly maintenance fee going forward—you do not need to do anything else.
If you change jobs or your benefit payments stop, you will need to set up direct deposit again with your new employer or benefit source to keep the fee waived. If direct deposit stops and you do not meet another fee waiver condition, the monthly fee will resume the following month.
Overdraft Fees and Other Costs Beyond the Monthly Fee
Regions charges an overdraft fee if you spend more money than you have in your account. This fee is separate from the monthly maintenance fee and typically ranges from $35 to $36 per overdraft. If you overdraw your account multiple times in one day, you may be charged multiple overdraft fees.
Regions also charges fees for certain other transactions: ATM withdrawals at non-Regions ATMs (though the amount varies), wire transfers, and stop payment requests. These are not automatic like the monthly maintenance fee; you only pay them if you use these services. The monthly maintenance fee is the only cost you will incur straightforward by having the account open.
To avoid overdraft fees, set up overdraft protection by linking your savings account to your checking account. If you overdraw checking, Regions will automatically transfer money from savings to cover it, usually for a smaller fee or no fee at all. Ask Regions about their overdraft protection options when you open your account.
Frequently Asked Questions
Can I keep a zero balance in my Regions checking account without closing it?
Yes. Regions will not close your account for having zero balance. However, if you do not meet a fee waiver condition, you will be charged the monthly maintenance fee even if your balance is zero. If the fee posts and your balance is negative, you will also be charged an overdraft fee.
What is the routing number for Regions Bank?
Regions has multiple routing numbers depending on which state you bank in. The routing number appears on the bottom left of your checks. You can also find it by logging into your online account, calling Regions customer service, or visiting the Regions website and searching for your state's routing number.
If I set up direct deposit, will the fee waiver explore when ready?
No. The fee waiver typically begins the month after your first direct deposit posts to your account. Until then, you may be charged the monthly maintenance fee. After the first deposit posts, the fee is waived automatically for all future months as long as direct deposits continue.
Can I waive the fee by keeping money in a savings account at a different bank?
No. The linked savings account must be at Regions Bank. The account must be linked to your checking account, and you must maintain the required minimum balance in that Regions savings account. A savings account at another bank will not may have access to for the fee waiver.
What happens to my account if I cannot meet any fee waiver condition?
Your account stays open and functional. You will be charged the monthly maintenance fee each month, which reduces your balance. If you want to avoid the fee, you will need to meet one of the waiver conditions: set up direct deposit, link a savings account with the required balance, or maintain the required checking balance.