Regions Bank does not charge an opening fee for most checking accounts
Regions Bank offers several checking account types, and none of them require money upfront to open. You do not pay a fee to start the account itself. What you do pay depends on which account you choose and how you use it — some accounts charge monthly maintenance fees, others do not, and some waive fees if you meet certain conditions like keeping a minimum balance or setting up direct deposit.
The account you pick determines what happens after opening. A basic account might cost $5 to $12 per month if you do not meet the bank's conditions to waive the fee. Premium accounts may cost more but offer additional features. The key is understanding what each account requires and what you will actually pay once the account is active.
Key Takeaways
- Regions Bank does not charge a fee to open a checking account, but monthly maintenance fees vary by account type.
- Most Regions checking accounts waive their monthly fee if you maintain a minimum balance, usually between $500 and $1,500 depending on the account.
- Direct deposit, setting up automatic payments, or keeping linked savings accounts can also waive monthly fees on certain accounts.
- You will need a government-issued ID, Social Security number, and initial deposit (amount varies by account) to open an account in person or online.
Monthly fees and how to avoid them
Regions offers checking accounts with different fee structures. The most common accounts charge between $5 and $12 per month, but the bank waives these fees under specific conditions. The most straightforward way is maintaining a minimum balance — typically $500 to $1,500 depending on the account type. If your balance drops below that threshold, the monthly fee kicks in.
Other ways to waive the fee include setting up direct deposit of your paycheck, maintaining a linked savings account with a certain balance, or having automatic bill payments come from the account. Some accounts waive fees if you meet just one condition; others require you to meet multiple conditions. Regions also offers accounts specifically designed for students or seniors that may have lower or no monthly fees.
Check the current fee schedule on Regions' website or ask at a branch, because fee structures and waiver conditions change. What matters is knowing upfront whether you can realistically meet the conditions to avoid paying monthly.
What you need to bring to open an account
To open a checking account at Regions, you will need a government-issued photo ID (driver's license, passport, or state ID), your Social Security number, and an initial deposit. The initial deposit amount varies — some accounts require as little as $25, while others may require $100 or more. Regions accepts deposits by check, cash, or transfer from another bank account.
You can open an account online, by phone, or in person at a Regions branch. Online and phone openings are faster and do not require a trip to the bank. In-person openings let you ask questions and get immediate answers about which account fits your situation. Either way, the process typically takes 10 to 15 minutes, and your account is usually active the same day or within one business day.
Overdraft fees and other charges to know about
Opening the account is free, but Regions does charge fees for certain transactions and situations. If you overdraw your account — spend more than you have — Regions charges an overdraft fee, typically $35 per transaction. This is separate from the monthly maintenance fee and applies each time you go negative.
Other charges include fees for using an out-of-network ATM (usually $2 to $3), wire transfers ($15 to $25 depending on type), and stop-payment requests ($30 to $35). These are not automatic; you only pay them if you use these services. The monthly maintenance fee is the only charge that recurs automatically unless you meet the conditions to waive it.
Comparing Regions accounts to understand the real cost
Regions offers several checking account options, each with different fee structures and features. A basic account might charge $8 per month but waive the fee if you keep $500 in the account. A premium account might charge $12 per month but waive the fee with direct deposit or a higher balance. A student or senior account might have no monthly fee at all.
The real cost depends on your situation. If you can maintain a $500 balance, a basic account costs you nothing monthly. If you cannot, you will pay $8 to $12 per month. If you receive direct deposit, you might may have access to for a higher-tier account with better features at no extra cost. Spend a few minutes comparing the accounts Regions offers and matching them to your habits — that determines whether you pay $0 or $144 per year in maintenance fees.
How to open an account online or in person
Opening online is the fastest route. Go to Regions' website, select "Open an Account," choose your account type, and follow the prompts. You will enter your personal information, verify your identity, and make your initial deposit. The process takes about 10 minutes, and your account is usually ready to use the same day. You will receive your debit card in the mail within 5 to 7 business days.
Opening in person at a Regions branch takes about 15 minutes. Bring your ID, Social Security number, and initial deposit. A banker will walk you through the account options, explain the fees and waiver conditions, and set up your account on the spot. You can often get a temporary debit card immediately and use it right away, with your permanent card arriving by mail later.
By phone, call Regions' customer service line and ask to open a checking account. A representative will guide you through the process and arrange your initial deposit by transfer from another bank account. This method is slower than online or in-person because you cannot hand over cash or a check, but it works if you prefer speaking to someone.
What happens after you open the account
Once your account is open, you can start using it immediately if you opened in person or by phone. If you opened online, you can usually log in and transfer money the same day, though your debit card will arrive by mail. Set up direct deposit with your employer if you want to waive the monthly fee — this usually takes one pay period to activate.
Review your account statements monthly to track fees and make sure you are meeting the conditions to waive them. If you are paying a monthly fee and did not realize it, contact Regions to see if you can switch to an account with lower fees or meet the waiver conditions for your current account. Many people pay fees for months without realizing they could have avoided them by adjusting their balance or setting up direct deposit.
Frequently Asked Questions
Does Regions charge to close a checking account?
No, Regions does not charge a fee to close a checking account. You can close it anytime by visiting a branch, calling customer service, or using online banking. Make sure your balance is zero or transfer any remaining money before closing.
Can I open a Regions checking account if I have had banking problems before?
Regions uses ChexSystems, a banking history report, to screen new account applicants. If you have unpaid overdrafts, fraud, or other serious issues on your record, Regions may deny your application. You can request your ChexSystems report to see what is on file and dispute inaccuracies.
What is the minimum balance to avoid the monthly fee?
It varies by account type, typically between $500 and $1,500. Some accounts waive the fee with direct deposit instead of a balance requirement. Check Regions' current fee schedule or ask at a branch to confirm the exact requirement for the account you want.
How long does it take to receive my debit card?
Debit cards usually arrive within 5 to 7 business days of opening your account. If you opened in person, you may receive a temporary card immediately that you can use right away. You can also request expedited card delivery for an additional fee.
Can I open a joint checking account at Regions?
Yes, Regions offers joint checking accounts. Both account holders must be present in person or provide authorization, and both will need to provide ID and Social Security numbers. Joint accounts have the same fee structure as individual accounts.