Regions Bank does not charge an opening fee for most checking accounts

Regions Bank offers several checking account types, and none of them require a fee to open. You can open an account online, by phone, or in person at a branch without paying an upfront cost. However, the account you choose determines what monthly fees you might pay later, and some accounts have minimum balance requirements that trigger fees if you fall below them.

The most common Regions checking accounts are Regions Everyday Checking, Regions Premium Checking, and Regions Student Checking. Each has different rules about monthly maintenance fees, minimum balances, and what you need to do to waive those fees.

Key Takeaways

  • Opening a Regions checking account costs nothing, but monthly maintenance fees range from $0 to $15 depending on the account type and whether you meet fee-waiver requirements.
  • Regions Everyday Checking charges $10 per month unless you maintain a $500 minimum balance or set up direct deposit.
  • Regions Premium Checking costs $15 per month but waives the fee if you keep $2,500 in the account or have a may have access to direct deposit.
  • Regions Student Checking has no monthly fee and no minimum balance requirement, but you must be under 24 years old and a full-time student.
  • You will need a government-issued ID, Social Security number, and initial deposit to open an account, though the deposit amount is not specified as a requirement.

Monthly fees and how to avoid them

Regions Everyday Checking charges a $10 monthly maintenance fee. You can waive this fee in two ways: keep a minimum daily balance of $500, or set up direct deposit of your paycheck or other regular income. If you do neither, you pay $10 every month the account is open.

Regions Premium Checking costs $15 per month. The fee waives if you maintain a $2,500 minimum daily balance or have a may have access to direct deposit. This account includes additional perks like higher interest rates on balances and discounts on certain services, but you only benefit from those if you can meet the balance requirement or direct deposit condition.

Regions Student Checking has no monthly maintenance fee and no minimum balance requirement. This account is free to maintain as long as you remain may be able to access—you must be under 24 years old and enrolled as a full-time student. Once you turn 24 or leave school, Regions will convert the account to Everyday Checking, which then carries the $10 monthly fee unless you meet its waiver conditions.

What you need to bring or provide to open an account

To open a Regions checking account, you will need a government-issued photo ID (such as a driver's license or passport), your Social Security number, and an initial deposit. Regions does not publicly specify a minimum opening deposit amount, so the deposit requirement may vary or may be waived depending on the account type and how you open it.

If you open online, you can complete the process in minutes using your ID and Social Security number. If you open in a branch or by phone, a Regions representative will guide you through the same information. You can fund the account with a transfer from another bank, a check deposit, or cash if you open in person.

Other costs to watch for

Opening the account is free, but other transactions may carry fees. Overdraft fees apply if you spend more than your balance—Regions charges $36 per overdraft transaction. ATM fees vary: using a Regions ATM is free, but using an out-of-network ATM typically costs $2 to $3, depending on the ATM operator.

Wire transfers, cashier's checks, and stop-payment requests also carry fees that vary by service. Paper statements, if you request them instead of going paperless, may incur a monthly charge. Ask Regions directly about any service you plan to use regularly, because fees change and vary by account type.

How to compare Regions checking with other banks

Regions' $10 monthly fee for Everyday Checking is higher than some competitors but lower than others. Many online banks offer checking accounts with no monthly fee and no minimum balance, though they may not have physical branches. Traditional banks like Chase, Bank of America, and Wells Fargo charge similar monthly fees ($12 to $15) with similar waiver options.

The real cost difference depends on your habits. If you can maintain a $500 balance or set up direct deposit, Regions Everyday Checking costs nothing per month. If you cannot meet either condition, you pay $120 per year. If you prefer a bank with no monthly fee under any circumstance, an online bank or a local credit union may be a better fit.

Opening an account online versus in person

Opening online is faster and requires no branch visit. You can complete the process on Regions' website or mobile app in about 10 minutes using your ID and Social Security number. The account opens immediately, and you can start using it the same day, though transfers from other banks may take one to three business days to arrive.

Opening in a branch takes longer but allows you to ask questions and deposit cash immediately. A Regions representative can also explain the account features and help you set up online banking, bill pay, and mobile access on the spot. If you are unsure which account type fits your needs, opening in person may be worth the extra time.

Frequently Asked Questions

Can I open a Regions checking account without a Social Security number?

Regions requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open an account. If you do not have either, contact Regions directly to ask about alternative forms of identification or other options.

What happens if I cannot maintain the minimum balance?

If you have Everyday Checking and your balance falls below $500 and you do not have direct deposit, you will be charged $10 at the end of the month. You can avoid the fee by setting up direct deposit even if your balance is low, or by bringing your balance back above $500 before the fee posts.

Can I switch from Student Checking to a different account type?

Yes. When you turn 24 or are no longer a full-time student, Regions will automatically convert your Student Checking to Everyday Checking. You can also request a switch to Premium Checking or another account type at any time by contacting Regions.

Is there a fee to close a Regions checking account?

Regions does not charge a fee to close a checking account. You can close it online, by phone, or in person. Make sure your balance is zero or transfer any remaining funds before closing.

Do I have to keep a certain amount of money in the account after I open it?

The minimum balance requirement applies only to waive the monthly fee, not to keep the account open. You can have a zero balance in Everyday Checking or Premium Checking, but you will be charged the monthly maintenance fee if you do not meet the balance or direct deposit waiver condition.