How Much Money Do I Have To Have In My Regions Saving Account
Regions Depository financial institution
Regions Bank is an apparent choice if y'all're looking for a new checking account and you're located in the South or Midwest.
The bank's network of more than ane,900 ATMs and ane,500 branches arrive a popular choice.
The LifeGreen Checking Account is the basic pick offered by the bank.
It's a very standard checking account -- it gets the job done.
All the same, y'all should even so detect out everything you need to know virtually the account beginning.
And so, compare it to alternatives to come across if there is a better option for yous.
In this Regions Checking Account review, we'll compare rates, fees and services to other national and online banks.
Earn Relationship Rewards and Cashback with Your Debit Menu
Regions LifeGreen Checking Account Pros & Cons
| Pros | Cons |
|---|---|
|
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I of the biggest disadvantages of using a debit card to make purchases is its lack of rewards. Credit cards can requite consumers a mode to earn points, miles, or cash back while they store.
Some cards can give you lot as much as 5% of the value of your purchase as rewards. That gives using a debit card a pregnant opportunity toll.
Luckily, the Regions Bank LifeGreen Checking Business relationship gives you 2 ways to earn rewards from your checking business relationship.
Relationship Rewards program
You lot can earn points for all sorts of banking activities, such as ATM deposits, signing up for monthly statements, and using online bill pay.
You lot tin can redeem the points that you earn for a variety of rewards.
Redemption options include airfare, rental cars, travel packages, gift cards, electronics, merchandise, and cash.
Cashback Rewards program
Information technology gets meliorate:
When you log in to your online banking portal, you'll see a list of offers available to you.
You lot tin can activate these offers to add them to your debit card, giving you the hazard to earn some cash back.
These offers will come in the grade of "Spend $X at a specific retailer and get $Y back." For example, you might get an offer to spend $50 at Amazon.com and get $10 back.
All you have to exercise afterwards adding the offering to your debit carte is to use your card to brand purchases equally usual. If you satisfy the requirements of the offer, the rewards will exist deposited to your checking account automatically.
Use Insights by Regions to Help Manage Your Money
Coin tin exist complicated.
Information technology's hard to know how to manage your coin, how to save towards your goals, or what to do if you're experiencing financial stress.
Regions Bank wants to help its customers with their financial questions, so information technology offers Insights past Regions to its customers.
These Insights include tools, tips, and calculators that you lot can use to help figure out how best to manage your money.
For example, you tin can read about saving towards retirement and use a calculator to see how much you lot should exist saving each month.
Whether you need aid making a huge determination such as whether to rent or buy a home, or a smaller one like how much coin to keep in a savings business relationship, Insights by Regions can give you the assistance you need.
Send Money to Friends Using Zelle
Using cash might seem like the best option when it comes to settling a restaurant tab or splitting bills with roommates, but greenbacks can be inconvenient.
You have to make sure y'all take enough on hand to pay for your purchases, and you'll air current upward visiting ATMs or banks a lot to brand withdrawals.
You lot also have to hope that you have exact change on hand or hope that the person yous're paying can brand change for you.
Hither'southward the bargain:
Regions Bank volition soon offer a service chosen Zelle that makes it easy to transfer coin to your friends without having to use greenbacks.
Zelle lets you send money to anyone else with a Zelle enabled bank account free of charge.
Sending money
The entire process is electronic, and so money will get out your business relationship and automatically arrive in the recipients when the transaction completes.
To brand things fifty-fifty better:
Y'all can even ship money to people who haven't set up Zelle up yet.
When y'all want to send money to someone, but open up Regions Banking company'due south app or website.
Sign into your account and open Zelle, and you'll be prompted to enter the telephone number or due east-mail service accost of the person yous desire to send money to. You won't need to know anything about their banking concern or their bank accounts.
Enter the corporeality you want to send and confirm the transaction. The coin will be automatically removed from your business relationship. How much you can transport or receive will vary based on the banks involved.
One time you've sent money, your friend volition exist notified that a payment is incoming.
If they haven't set up Zelle yet, they'll be prompted to do and then. Once Zelle has been gear up, the money will arrive in three business organisation days.
Expert ATM Access in the Bank'south Service Area
Regions Banking company is primarily located in the South and Midwest, so it'southward ATM network is focused on those areas.
If y'all travel outside of those regions, you might not be able to detect whatever ATMs owned by the bank.
If you use a Regions Bank ATM, you won't have to pay whatever fees for the transactions that you brand. If you find yourself using another depository financial institution'due south ATM, you'll want to be wary of the fees.
What to spotter for:
If you're using another bank's ATM in the United states, yous'll pay a $2.50 for each transaction. Outside the United states, the per-transaction fee is doubled to $5.
These fees are charged by Regions Bank in add-on to the fees charged by the ATM's owner.
If you're traveling, brand sure yous accept enough cash that yous won't have to visit an ATM regularly. If you're forced to utilize another bank's ATM on a regular basis, it could go quite expensive.
Ways to Avoid the Monthly Fee
The Regions Banking company LifeGreen Checking Account charges a $10 monthly fee.
You can knock the fee down to $8 by signing upwardly for online statements. You should exercise this right away then that you can ensure that you'll save some money if you are not able to get the full fee waived.
To get the entire monthly fee waived, you must come across one of the following requirements:
- Maintain an average monthly balance of $ane,500
- Receive a unmarried straight deposit of at least $500
- Receive $1,000 in combined deposits
Try to go on some money in your account or sign upward for direct deposit to avoid the monthly fee.
Other Fees
Monthly maintenance fees are the almost common fees you'll see charged to a checking account.
Yet, there are some other fees that are less common, just withal good to know about.
Some of the fees that may apply to your Regions Bank LifeGreen Checking Business relationship are listed below:
Regions Bank LifeGreen Checking Business relationship Fees
| Blazon | Fee |
|---|---|
| Monthly Maintenance Fee | $8 |
| Non-Regions ATM | $2.fifty |
| Overdraft Fee | $36 |
| Overdraft Protection Transfer Fee | $fifteen |
| Returned Item | $36 |
| Stop Payment | $36 |
| Deposited Item Returned | $15 |
| Domestic Wire Transfer (incoming) | $15 |
| International Wire Transfer (incoming) | $18 |
| Cashiers Check | $eight |
Convenience
The Regions Banking company LifeGreen Checking Business relationship offers the convenience features that you'd expect from a checking account.
You should always attempt to cull a checking account that is easy to use, and then having admission to these features is of import.
If your checking business relationship is difficult to manage, even the nigh basic transactions can become a headache.
You can easily manage your LifeGreen Checking account from anywhere using the bank's website or smartphone app.
Once you log in to your business relationship y'all'll be able to run across your balance, transaction history, and scheduled transactions. Yous'll also exist able to make instant transfers or set up other hereafter transactions.
The banking company'southward website and mobile apps likewise requite you access to a costless bill payment service. Instead of writing checks each month and mailing them out, Regions Bank can handle that job for you.
Only enter the companies you lot take to pay and how much you have to pay them. The depository financial institution will transport the money on your behalf.
Other Regions Bank Checking Options
If yous're interested in condign a Regions banking consumer, but aren't sold on this checking account, bank check out some additional checking account options also offered past this bank:
Regions LifeGreen Elementary Checking
The Regions LifeGreen Simple Checking account is but that, a elementary checking account with all the basics a consumer would need to have a successful checking account.
With a $five or $vii monthly fee thatcannot exist waived, it'due south important to weigh the perks of this account, to encounter if information technology'south worth paying that monthly fee.
One of the key perks of this bank business relationship is the inclusion of Regions Relationship Rewards plan, which allows you lot to earn cash back through online banking for qualifying card purchases.
In improver to the Rewards program, customers with this account receive:
- Unlimited bank check writing
- 30% discount on ane (1) Safe Deposit Box with an additional 10% discount for car debit
- Relationship rates on most CDs for customers who meet the Relationship requirements
- Discounts on qualifying installment loans with payments auto debited from a Regions account
- No Regions ATM fee on two (2) ATM transactions at not-Regions ATMs per argument period if y'all provide your Military ID when opening account
Here's some of the main fees of the business relationship:
Regions Bank LifeGreen Simple Checking Account Fees
| Type | Fee |
|---|---|
| Monthly Maintenance Fee | $v with online statements, $7 with paper statements (without cheque images) |
| Minimum Opening Deposit | $l |
| Terminate Payment Fee | $36 |
| Overdraft Fee | $36 (onetime refund of overdraft fee) |
| Non-Regions ATM | $2.fifty |
| Newspaper Statement Fee | $2 |
| Early Business relationship Closing Fee (within 180 days) | $25 |
| Returned Deposit Item Fee | $15 |
| Cashier'due south Check | $8 |
Regions LifeGreen Preferred Checking Account
Every bit one of Regions Bank more premier checking accounts, the LifeGreen Preferred Checking account is an interest-bearing, reward-earning banking company account that features simple online cyberbanking and special features.
At an $18 monthly fee, it's crucial to note the perks that come with this account. Some of the about important ones are:
- Unlimited checking writing
- Waived fee for Cashier's Checks and Money Orders
- fifty% discount on one Safe Deposit Box with an boosted 10% disbelieve for machine debit
- Relationship rates on near CDs for customers who see the Relationship requirements
- Power to earn rewards through the Regions Cashback Rewards program with your Regions Visa CheckCard and Online Banking
Although there is a monthly fee that comes with this business relationship, y'all tin can become it waived by meetingoneor more of these requirements:
- Maintain a $5,000 average monthly argument balance in your business relationship
- Maintain a $25,000 combined minimum deposit balance between all of your Regions checking, savings, money markets, CDs and IRAs
- Take certain qualifying first-lien home mortgage loans in good standing, or
- Have a combined$25,000 minimum outstanding loan balance between all of your Regions personal installment loans, lines of credit, equity lines of credit, equity loans, directly loans and credit cards in good standing
We've highlighted some of the main fees of this account:
Regions Bank LifeGreen Preferred Checking Account
| Type | Fee |
|---|---|
| Monthly Maintenance Fee | $eighteen |
| Minimum Opening Eolith | $50 |
| Stop Payment Fee | $36 |
| Overdraft Fee | $36 (one-fourth dimension refund of overdraft fee) |
| Not-Regions ATM | $2.50 (fee waived commencement 2 times per statement wheel) |
| Cashier'south Cheque | $0 |
| Paper Argument Fee | $0 |
| Early Business relationship Closing Fee (inside 180 days) | $25 |
| Returned Eolith Particular Fee | $15 |
How Information technology Compares
The checking account is the most popular type of bank business relationship in the United States.
Near banks offering more than one type. That means that consumers have a huge variety of accounts to choose from. Take advantage of that fact to shop around for a good bargain.
When y'all're comparing checking accounts, the number i matter to consider is the account'southward fee-structure. You desire to avoid monthly fees if at all possible.
Too, make certain you won't be charged fees to use the ATMs in the areas you frequent.
Other things to consider when comparing accounts are:
- Minimum deposit requirements
- Fee waiver requirements
- Interest rates
- ATM access
- Convenience features
The Final Verdict
The Regions Banking concern LifeGreen Checking Account is an adequate checking business relationship, but it fails to offer any features exciting plenty to differentiate it from the contest.
You'll probably be better off with an online checking business relationship.
They rarely charge monthly fees and often give you ATM fee waivers so you can use any ATM in the land for costless.
Source: https://www.mybanktracker.com/checking/reviews/regions-bank-lifegreen-checking-account-review-291105
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