Regions Bank does not charge a fee to open a checking account

You can open a Regions checking account with no opening fee. The bank offers several checking account types, and none of them require you to pay money upfront to create the account. What you pay depends on which account you choose and whether you meet the bank's requirements to waive the monthly maintenance fee.

The real cost question is not whether opening is free—it is whether you will pay a monthly fee once the account is active. That depends on your account type and your balance.

Key Takeaways

  • Opening a Regions checking account costs nothing, but monthly maintenance fees range from $0 to $15 depending on the account type.
  • Most Regions checking accounts waive the monthly fee if you maintain a minimum balance, usually $500 to $1,500.
  • Direct deposit or setting up automatic transfers can also waive monthly fees on some account types.
  • You can open an account online, by phone, or in person at a Regions branch.
  • You will need a government-issued ID, Social Security number, and initial deposit to complete the account opening.

Monthly fees vary by account type

Regions offers three main checking account types: Regions Essentials Checking, Regions Preferred Checking, and Regions Premium Checking. Each has a different monthly maintenance fee structure.

Regions Essentials Checking has a $0 monthly fee with no minimum balance requirement. This is the account with no ongoing cost. Regions Preferred Checking carries a $10 monthly maintenance fee, but the fee is waived if you maintain a $500 minimum daily balance or set up a direct deposit of $500 or more per month. Regions Premium Checking costs $15 per month and waives the fee with a $1,500 minimum daily balance or a $1,500 direct deposit per month.

The account you choose should match your typical balance and deposit patterns. If you keep less than $500 on hand most months, Essentials Checking avoids the fee entirely. If you receive regular paychecks by direct deposit, Preferred or Premium may offer benefits that offset the monthly cost.

What you need to open an account

To open a Regions checking account, you will need a government-issued photo ID, your Social Security number, and an initial deposit. The initial deposit amount depends on how you open the account—online, by phone, or in a branch—and Regions does not publicly specify a minimum, so the amount may be as low as $1 or may vary by location.

If you open online or by phone, have your ID and Social Security number ready. If you open in person at a branch, bring your ID and a debit card or checkbook from another bank to verify your identity. You will also need to decide which account type you want before you start the process.

How to open an account

You can open a Regions checking account three ways: online at regions.com, by calling 1-800-REGIONS (1-800-734-4667), or by visiting a Regions branch in person. Online opening is usually the fastest and can be completed in 10 to 15 minutes. Phone opening takes about the same time. In-person opening may take longer depending on branch traffic.

Online, you will enter your personal information, choose your account type, and link a funding source—either a debit card or another bank account—to make your initial deposit. By phone, a Regions representative will walk you through the same steps. In person, a banker will help you complete the process and process your initial deposit on the spot.

After you open the account, Regions will issue you a debit card and checks. The debit card typically arrives within 7 to 10 business days. Checks take 1 to 2 weeks. You can use your account number and routing number to set up transfers or direct deposits before your physical cards arrive.

Fees beyond the monthly maintenance charge

Regions charges fees for specific actions, not just for holding the account. Overdraft fees are $35 per transaction if you spend more than your balance. Overdraft protection—which links your checking account to a savings account or credit line to cover shortfalls—costs $10 per transfer on some accounts, though some account types include a limited number of free transfers per month.

ATM fees explore if you use an out-of-network ATM. Regions does not charge you to use its own ATMs, but other banks' ATMs may charge $2 to $3 per withdrawal. Wire transfer fees are $15 for outgoing domestic wires and $25 for outgoing international wires. Stop payment requests cost $30 each.

None of these fees explore unless you use those services. The monthly maintenance fee is the only charge you will face straightforward by holding the account open.

Comparing Regions to other banks

Many online banks and credit unions offer checking accounts with no monthly fee and no minimum balance. Banks like Ally, Charles Schwab, and Discover have $0 monthly maintenance fees and no minimum balance requirements. Credit unions often have similar terms if you are a member.

Regions' advantage is its branch network—over 2,000 branches and 3,000 ATMs across the South and Midwest. If you need in-person banking or frequent ATM access, Regions may be worth the monthly fee on Preferred or Premium accounts. If you bank primarily online and rarely visit a branch, an online bank or credit union may cost less.

Frequently Asked Questions

Can I open a Regions checking account if I have bad credit or a banking history issue?

Regions does not run a credit check to open a checking account. However, the bank does check ChexSystems, a banking history database. If you have unpaid overdrafts, fraud, or other serious issues on file, Regions may deny your process. You can request your ChexSystems report to see what is on file before you explore.

What is the minimum balance to avoid the monthly fee?

For Preferred Checking, the minimum is $500. For Premium Checking, it is $1,500. Essentials Checking has no minimum balance and no monthly fee. The balance is measured as your daily balance, so you need to maintain that amount most days of the month to avoid the fee.

Can I open an account online if I do not have a debit card from another bank?

Yes. When you open online, you can fund the account with a debit card, credit card, or by linking a bank account for an ACH transfer. If you have none of those, you can open in person at a branch and fund the account with cash or a check.

How long does it take to receive my debit card and checks?

Debit cards arrive within 7 to 10 business days. Checks take 1 to 2 weeks. You can use your account number and routing number when ready to set up direct deposits or transfers while you wait for the physical items to arrive.

What happens if I do not maintain the minimum balance?

If your balance falls below the minimum on Preferred or Premium accounts, you will be charged the monthly maintenance fee ($10 or $15) on your next statement. The fee is charged once per month, usually on the same day each month. You can avoid future fees by raising your balance back above the minimum or switching to Essentials Checking.