9 Ways To Avoid Regions Bank Monthly Maintenance Fees



Regions bank monthly feesLike most banks, Birmingham, Alabama-based Regions Bank lets customers avoid different banking fees if they meet certain requirements. Learning how to sidestep these fees can save you hundreds or even thousands of dollars a year in banking charges. Keep reading to find out how you can avoid Regions Bank’s fees for various accounts:

What Are Regions Bank’s Checking Account Fees?

Regions Bank’s checking account fees can cost you as much as $18 a month, which is pretty cheap compared to other banks GOBankingRates has looked at. Here’s a quick rundown of Regions Bank’s fees for different checking accounts:

Regions Bank Checking Accounts
Account Monthly Maintenance Fee Earns Interest
Lifegreen Checking $11, or $8 if you sign up for paperless statements No
eAccess Checking $8 No
Simple Checking $8, or $5 if you sign up for paperless statements No
Preferred Checking $18 Yes
Student Checking None No
62+ Checking $11, or $8 if you sign up for paperless statements No
Information accurate as of April 23, 2020.

Note that Regions Bank gives its customers a way to reduce fees by signing up for paperless statements. Monthly maintenance fees aren’t the only ones you might have to pay, however. Here are some other fees you might face using your Regions checking account:

Regions Bank Checking Account Fees
Fee Cost
Out-of-network ATM $3 in the U.S.; $5 outside the U.S.
Overdraft Charge $36
Wire Transfers $15-$50
Stop Payment $36
International Debit Purchase 3% of transaction
Debit Card Replacement $5, or $25 for rush delivery
Information accurate as of April 23, 2020.

Many of these fees can be avoided by making wise financial decisions, such as ensuring you have enough money in your account before paying bills and not sending out checks that might require a stop payment.

Check Out: Best Checking Accounts of 2020

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What Are Regions Bank’s Savings Account Fees?

Monthly fees for Regions Bank’s savings accounts are very low — $5 is as much as you’ll have to pay, and that’s only for a single account. But those low fees are offset somewhat by the bank’s comparatively low annual percentage yields on its savings accounts. Here’s a quick look:

Regions Bank Savings Accounts
Account Monthly Maintenance Fee APY
Lifegreen Savings $0 0.01%
Regions Savings $5 0.01%
Savings for Minors $0 0.01%
Now Savings $0 0.01%
Information accurate as of April 23, 2020.

Although Regions’ APY is based on tiered account balances, all rates were 0.01% as of April 23, 2020.

Also See: Best Savings Accounts of 2020

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Regions Bank
How To Avoid Regions Bank’s Monthly Maintenance Fees

Banks usually have some way for their customers to avoid paying monthly fees. This might take the form of maintaining a particular account balance or linking up various accounts. Here are nine ways you can avoid paying Regions’ monthly checking account fees:

  • Lifegreen Checking
    • Make a qualifying monthly deposit of $500 or more, or a combined deposit of $1,000 or more among different accounts
    • Maintain a monthly balance of $1,500 or more
  • eAccess Checking
    • Make 10 or more purchases with your Regions CheckCard and/or your Regions credit card
  • Preferred Checking
    • Maintain a monthly balance of $5,000 or more
    • Maintain a combined balance of $25,000 or more among all of your Regions accounts
    • Have a combined outstanding balance of $25,000 or more with your Regions loans and lines of credit
    • Keep in good standing with your Regions first-lien home mortgage
  • 62+ Checking
    • Make a qualifying monthly deposit of $300 or more or a combined deposit of $1,000 or more
    • Maintain a monthly balance of $1,500 or more

There is no monthly fee associated with the Regions Bank student account. You can reduce the service fee for the Regions Simple Checking account by signing up for paperless statements, but you cannot avoid it altogether.

There is also no way to avoid the monthly service fee for Regions’ Savings account, but it’s only $5.

Check Out: Here’s Your Regions Bank Routing Number

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How To Avoid Regions Bank’s Overdraft Fees

Besides just not spending money you don’t have, you can avoid the overdraft fees by signing up for overdraft protection. Overdraft protection links your Regions checking account with a Regions savings or money market account. In the event you don’t have sufficient funds in your checking account to cover money you’ve spent, Regions will move the funds from your designated funding account. You’ll still get charged a transfer fee, but the transfer fee is much less than the overdraft fee.

Also note that due to the coronavirus pandemic, many savings accounts have been depleted for customers who’ve lost income. If you’ve taken a financial hit due to the coronavirus, it might be worthwhile to call the bank and see if you can have your fees waived.

Read More: How To Avoid Overdraft Fees

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How To Avoid Regions Bank’s ATM Fees

You can avoid Regions’ out-of-network ATM fees in the following ways:

  • Use an in-network ATM
  • Use a credit card to make purchases rather than withdrawing money from an out-of-network ATM
  • Withdraw cash directly from a Regions Bank branch

If you’re a member of the U.S. military, you get two free non-Regions ATM transactions per billing period for all Regions checking accounts.

Related: Guide to Daily ATM Withdrawal Limits and Debit Purchase Limits

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How Regions Bank’s Account Fees Compare To Other Banks

You should always consider bank fees when deciding whether to open a new checking or savings account. For some fees, the difference between banks can be considerable. Here’s how Regions Bank stacks up against leading national banks:

Fees at Regions Bank and Other Banks
Fee Regions Bank Bank of America Chase Citibank U.S. Bank Wells Fargo
Monthly Maintenance Up to $18 Up to $25 Up to $25 Up to $30 Up to $24.95 Up to $30
Out-of-Network ATM Withdrawal In U.S.: $3

Outside U.S.: $5

In U.S.: $2.50

Outside U.S.: $5

In U.S.: $2.50

Outside U.S.: $5

In U.S: $2.50

Outside U.S. and Puerto Rico: 3% of transaction

In U.S.: $2.50

Outside U.S.: 3% of transaction

In U.S.: $2.50

Outside U.S.: $5

Overdraft $36 $35 $34 $34 $36 $35
Excess Transactions $3 $10 $5 No fee, but Citibank will restrict or close your account if you withdraw three times over the limit $15 $15
Stop Payment $36 $30 $30, or $25 if done online or by phone $30 $35 $31
Wire Transfer $15-$50 Varies $15-$50 $10-$35 $20-$50 Varies
International Debit Purchase 3% of transaction 3% of transaction 3% of transaction 3% of transaction 3% of transaction 3% of transaction
Card Replacement $5, or $25 for rush delivery $5, or $15 for rush delivery Free, or $5 for rush delivery Free, or $6 for rush delivery Free, or $25 for rush delivery Free
Information accurate as of April 23, 2020.

Regions Bank’s out-of-network ATM fee is a bit high for domestic withdrawals. Also, unlike many banks, Regions charges a fee for replacing a card even without rush delivery. On the other hand, Regions has the lowest maximum monthly fee on the list as well as the lowest excess transaction fee.

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Getting the Most Out of Your Regions Bank Account

The easiest way to get the most out of your Regions Bank account is to avoid fees whenever possible. Beyond that, you can look for ways to take advantage of special offers. Regions doesn’t currently list any promotions or bonuses on its website. But if you have a significant other, you might be able to get more mileage out of your Regions account through the bank’s relationship status. Your Regions relationship benefits will get you a 30% discount on a safety deposit box and might also bring a better APY on a Regions CD as well as discounts on qualifying loans.

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More on Regions Bank

More on Avoiding Monthly Fees

Rates are subject to change. Information on accounts is accurate as of April 23, 2020. 

This article originally appeared on GOBankingRates.com: 9 Ways To Avoid Regions Bank Monthly Maintenance Fees



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