7/28/2023
Regions Banks grew out of the merger of 3 small regional banks during the mid-19th and early 20th century. Today, it is headquartered in Birmingham, AL, and has some 1,300 branches in 15 southern and mid-eastern states, including Alabama, Florida, Georgia, Tennessee and Texas.
Along with checking and savings accounts, this bank also offers commercial banking, financial planning, personal loans, lines of credit, debit/credit cards, CDs and other products. In addition, it puts its app, Zelle service and mobile check deposit feature at your fingertips.
You may be interested in: Regions Bank customer service phone number
To take advantage of Regions Bank's services, you'll need to open an account with the bank. Here's how to do it and the conditions you must meet to have your application accepted.
Requirements for opening an account at Regions Bank
Each bank has varying policies for users to access its catalog of products and services. However, all must comply with the law to prevent identity theft, money laundering and aiding terrorism. In this sense, they ask you to provide a series of basic data, such as:
- Email.
- Full name.
- Verifiable address.
- Date of birth.
- Social Security Number or ITIN.
- Valid government ID.
- Telephone number (regular or mobile).
- Employment status (self-employed, employed or unemployed).
In addition, you will need to make an initial deposit, which is usually $50, except in the case of the Now Checking account, which requires only $10 to open.
If you want to avoid the monthly maintenance fee that Regions Bank charges on most of its accounts, you'll also have to meet additional requirements, such as maintaining a minimum daily balance or having other products such as loans or mortgages.
How do I open a Regions Bank account?
The evolution of traditional banking through digitalization has been beneficial for several types of customers. For one thing, you no longer need to visit a branch to complete simple procedures, such as opening a Regions account. You can choose to do it online, which is less time-consuming.
Debit account with checkbook that offers you full online and branch operations, with an initial deposit of $50 and a monthly fee that can be avoided meeting requirements.
Online debit account that you can open online or at any branch, with 3 free checks each month and monthly fee avoidable by paying with card.
Basic, fully operational day-to-day checking account with monthly fee of $5 if you receive online statements or $8 if you receive paper statements.
Debit account with checkbook and no handling fee, for students up to 25 years old. With free debit card and reimbursement program on purchases.
The process of opening a checking or savings account online with this financial institution follows a few simple steps:
- Go to the official website and on the top right locate the 'Open an Account' link.
- This will take you to a page with the different options available. There you can use the 'Compare accounts' button to see them in more detail.
- Once you have chosen the most convenient one for your personal finances, click on 'Open now'.
- You will then be presented with a screen that shows you the information you need to proceed: ID, email and SSN. You must also indicate whether you are a new customer or not.
- Let's say you want to open a Regions Bank account for the first time. Then you click on 'New costumer'. This takes you to the contact information page. There you enter your information and click 'Next'.
- This is followed by the personal information page, where you enter your date of birth, social security number and employment status. After completing this information, click on 'Next'.
- The next step is to provide your identification data. You can use your license, passport or a state or military ID. After completing, click 'Next'.
- On the second to last page of the process you will be asked for your current address information. There you also indicate if you are a U.S. citizen and if it is a joint account. Click 'Next'.
- The final screen is for you to check if the information you entered has any errors. When you verify that everything is correct, click on the 'Looks good' button for the bank to process the application.
As you have seen, it is a very simple and quick process that will take you only 10–15 minutes. After submitting the application, we understand that Regions Bank can give you the approval the same day or in 2 business days. It all depends on whether other documents are required to complete the process.
Final Recommendations
We like Regions Bank because it gives you daily interest, can reward you with an annual bonus depending on the account and offers cashback rewards when you use their debit card or prepaid Now Card. Despite these benefits, we invite you to review the details of their banking products to draw your own conclusion.
If you want to compare Regions Bank's checking and savings accounts with those of other banks, you can use Busconomico's search engine. On our website, you can review many helpful reviews in one place so you can make an informed decision.
Español: ¿Cómo abrir una cuenta en el Regions Bank?