LAST UPDATED: July 7th, 2023
Originally known as the First Alabama Bancshares in 1971, Regions has gorwn to a 125.54 billion dollar empire. There are over 1,700 physical branches (as of December of 2010) and it services the south east portion of the country. Regions Bank is a member of the S&P 500 Index and provides retail and commercial banking.
- Banking solutions
- Checking accounts
- Features and services
Regions Bank provides everyday banking, investing, lending, and insurance services to their customer base. These solutions are available for individuals with personal needs, small businesses, and commercial businesses. There are also opportunities for wealth management for affluent persons through Regions Bank.
Regions checking accounts are a convenient option for those looking for standard and above-average features. All Regions Bank checking accounts come with free access to only banking, secure mobile banking, multiple overdraft protection options, a Regions Visa CheckCard, cash back rewards, discounts on safe deposit box, and free access to withdrawals and transfers at more than 2,000 Regions Banks ATMs. There are six different Regions checking accounts which includes:
- LifeGreen Checking account: available with no monthly fee and option to earn an annual savings bonus and requires a $50 deposit to open.
- LifeGreen eAccess account: available with no monthly fee and option to earn an annual savings bonus and requires a $50 minimum deposit to open.
- LifeGreen Simple Checking account: available with no monthly fee and option to earn an annual savings bonus and requires $50 minimum deposit to open and comes with unlimited check writing.
- LifeGreen Preferred Checking account: earn interest and enjoy the other added benefits of maintaining a more extensive relationship with Regions.
- Age-Defined Checking accounts: restrictions based on age
- LifeGreen Checking for Students: no monthly fee for students age 25 or younger with the benefits of LifeGreen Checking.
Features and Services
Financing life's opportunities and milestones is another financial feature Regions Bank can help their customers with. With Regions Bank, customers will have access to loan options, personal guidance, and complete understanding. Personal loans and credit include the following solutions:
- Credit Cards: several credit card options to provide you with convenience, security and even Regions Relationship Rewards.
- Mortgage Loans: home purchase or refinance, Regions has the loan program to meet all needs.
- Unsecured Loans and Lines: Regions offers several line of credit products, designed to meet a variety of needs
- Student Loans: the power to choose the right products and the flexibility to customize those products to meet all needs.
- Home Equity Loans: Use the value in your home to finance your dreams.
- Auto Loans: flexible terms and competitive rates to put you in a good vehicle.
- Secured Loans and Lines: Personal installment loans can be used to purchase just about anything.
Saving and investment opportunities are also available. There are a number of savings accounts and investment opportunities through Regions Bank. There are Money Market, CDs, and IRA Solutions all available.
- Limited locations
- Insurance issues
Regions Bank only services the southeast portion of the United States. In total, Regions Bank services sixteen states across the country. Individuals or businesses not located in the following states will not be able to use Regions Bank as their financial platform:
- North Carolina
- South Carolina
While it convenient to have insurance solutions conducted through a bank, there are some issues with the Regions service. There are individual, property, vehicle, and life insurance options available. Customers can utilize overdraft protection and safe deposit boxes. The insurance is not backed by the FDIC and is not actually done through Regions. Instead it is conducted through an affiliate of Regions Bank, known as Regions Insurance, Inc.
The Bottom Line
Regions Bank helps thousands of people finance important opportunities and satisfy standard banking needs. Whether you are a business owner or an individual, Regions Bank offers solutions for a wide-range of needs. Those that decide to bank with Regions can expect the following from the service:
- Number of checking accounts to choose from
- Savings and investment opportunities
- Solutions for loans/lending
- Limited service area
- Insurance available
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