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  Regions Bank Savings Account

Regions Bank Savings Account

in Savings Accounts from Regions Bank · fdic

Unaffiliated

Regions Bank Savings Account

Unaffiliated

in Savings Accounts from Regions Bank · Member FDIC

Net Recommendation Score -100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.

-100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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1 user doesn't recommend
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Highlights
Community Rating

Rating not yet determined  

Monthly Fee $0 - $5
APY (Annual Percentage Yield) 0.01%
APY Minimum Balance N/A

Regions Bank Savings Account Review

Regions Bank Savings Account is offered by Regions Bank, a bank founded in 1873 and based in Huntsville, AL. Regions Bank Savings Account is available in 15 states across the USA.

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.01%.
  • $0 monthly Service Charge available. This account charges a monthly service fee of up to $5, but the fee is waived if you keep a minimum balance of $300.
  • No ATM fees. Regions Bank Savings Account does not charge fees on ATM transactions.
  • Bill pay. Pay your bills to practically anyone in the United States through Regions Bank.
Regions savings account Pros & Cons
Pros Cons
  • Interest-yielding account.
  • Access to physical branches.
  • No signup bonus.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
  • Only available in 15 states.
  • Higher than average wire transfer fees.
  • Monthly service charge.
Regions savings account FAQ

Are savings accounts from Regions Bank federally insured?

Yes, your Regions Bank savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Does Regions Bank offer a signup bonus?

Regions savings account doesn't offer a signup bonus.

What is the minimum initial deposit for Regions savings account?

The minimum deposit to open a Regions savings account is $50.
Regions Bank Savings Account Minimums
Description
Minimum Balance to Avoid Monthly Fee Starting at $300
Minimum Opening Deposit Starting at $50

What APY does Regions Bank offer?

Regions savings account offers an APY of 0.01% (APY stands for annual percentage yield, rates may change).

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does Regions savings account charge?

Regions savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fees if you have a minimum daily balance of $300.

  • Outgoing domestic bank transfers come with a $30 fee.
  • Incoming domestic bank transfers come with a $15 fee.
  • Outgoing international bank transfers come with a $50 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
  • Incoming international bank transfers come with a $18 fee.
  • Regions savings account charges a $25 fee for an early account closure. Contact Regions savings account for more details on what is considered an early closure.
  • Regions savings account charges $3 every time you request a paper statement.

What features and perks does Regions savings account offer?

This savings account includes the following features:

  • Check images with monthly statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks for each statement period.
  • Fraud monitoring - Regions savings account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
  • Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - Regions savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

Can you set up a direct deposit to Regions savings account?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for Regions savings account?

The customer support email for Regions savings account is askRegions@regions.com.

How do people rate the customer service and user experience of Regions savings account?

Overall, Regions savings account is strongly not recommended based on community reviews that rate customer service and user experience.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 15 states
  • Alabama
  • Arkansas
  • Florida
  • Georgia
  • Iowa
  • Illinois
  • Indiana
  • Kentucky
  • Louisiana
  • Missouri
  • Mississippi
  • North Carolina
  • South Carolina
  • Tennessee
  • Texas

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $300
Minimum Opening Deposit Starting at $50
Early Account Closure $25
International ATM Surcharge $5
Monthly Fee $0 - $5
Paper Statement Fee $3
Returned Deposit Fee (Domestic) $15
Wire Transfer Fee - Domestic (Incoming) $15
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Incoming) $18
Wire Transfer Fee - International (Outgoing) $50
Bauer Financial A+/A Rating
Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Check Images with Statement
  • Mobile Banking
  • Fraud Monitoring
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • Branch Access
APY (Annual Percentage Yield) 0.01%

Regions Bank Savings Account Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.

-100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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