Regions Bank overdraft fees are $35 per transaction
Regions Bank charges $35 for each overdraft transaction — that is, each time a transaction posts to your account when there is not enough money to cover it. The fee applies whether you overdraft by $1 or $100. You can be charged up to three overdraft fees per day, meaning a single day of multiple small purchases could cost you $105 in fees alone.
Regions also offers Overdraft Protection, which links your checking account to a savings account or money market account. If a transaction would overdraft your checking account, the bank transfers money from the linked account instead, and charges you a $10 transfer fee rather than a $35 overdraft fee. This is cheaper but only works if you have money in the linked account to transfer.
The fee structure has not changed recently, but Regions periodically reviews its policies. Check your account agreement or call Regions directly at 1-800-637-7455 to confirm the current fee if you want the most up-to-date information.
Key Takeaways
- Regions Bank charges $35 per overdraft transaction, with a maximum of three fees per day.
- Overdraft Protection transfers money from a linked savings or money market account for a $10 fee instead, if you have funds available.
- You can opt out of overdraft coverage entirely, which means transactions will be declined rather than charged a fee.
- Setting up account alerts or automatic transfers can help you avoid overdrafts before they happen.
How overdraft fees are calculated and when they hit your account
Overdraft fees post to your account after the transaction that caused the overdraft has cleared. Regions processes most transactions at the end of the business day, so a purchase that overdrafts your account in the morning will not show the fee until later that day or the next business day. This delay means you might not see the overdraft immediately, which can lead to a cascade of additional overdrafts if you make more purchases before the fee posts.
The three-fee-per-day limit means that even if you make ten purchases that overdraft your account on the same day, you will only be charged $105 in overdraft fees, not $350. However, each overdraft transaction still counts against your account, and the bank may close your account if overdrafts become a pattern.
Overdraft Protection and how to set it up
Overdraft Protection is a service you must enroll in separately. It links your checking account to another Regions account you own — typically a savings account or money market account. When a transaction would overdraft your checking account, Regions automatically transfers the needed amount from the linked account and charges you $10 for the transfer.
To set up Overdraft Protection, log into your Regions online banking account, go to the account settings or services section, and look for overdraft options. You can also call Regions at 1-800-637-7455 or visit a branch in person. The linked account must have sufficient funds at the time of the transfer, or the transfer will fail and you will be charged the standard $35 overdraft fee instead.
Overdraft Protection does not prevent overdrafts — it just makes them cheaper. If you repeatedly rely on transfers from your savings account to cover checking account shortfalls, you are spending down your emergency savings and may want to address the underlying budget issue.
Opting out of overdraft coverage
You have the right to decline overdraft coverage. If you opt out, transactions that would overdraft your account will simply be declined at the point of sale — you will not be able to complete the purchase, and you will not be charged a fee. This prevents surprise fees but can be embarrassing if a transaction is declined in front of a cashier.
To opt out, contact Regions at 1-800-637-7455 or visit your online banking settings. Some banks make this easy; others require you to call or visit a branch. Once you opt out, you can opt back in at any time if you change your mind.
Strategies to avoid overdraft fees
The simplest way to avoid overdraft fees is to keep a buffer in your checking account — money you do not spend and treat as a cushion. Even $100 or $200 can prevent most accidental overdrafts. Many people aim to keep their account balance above the amount of their largest regular bill or paycheck.
Set up account alerts through Regions online banking to notify you when your balance drops below a threshold you choose — for example, $500. These alerts come via email or text and give you time to transfer money in or adjust your spending before an overdraft happens. Regions also offers a low-balance alert that is free to use.
If you receive paychecks or regular deposits, make sure they are set up as direct deposits. Direct deposits post earlier in the day than checks or transfers, giving you access to money sooner and reducing the window during which an overdraft could occur. You can also set up automatic transfers from savings to checking on the day you expect a large bill to post.
What happens if you cannot pay an overdraft fee
If your account goes negative and you cannot cover the overdraft fee, the fee will remain on your account and accrue interest if your account stays negative. Regions may eventually close your account and report it to ChexSystems, a banking history database that other banks check before opening new accounts. A ChexSystems report can make it harder to open a checking account elsewhere for several years.
If you have overdraft fees you believe were charged in error — for example, if a transaction posted twice or if you were charged after opting out — contact Regions customer service at 1-800-637-7455. Explain the situation clearly and ask for a fee reversal. Banks sometimes reverse one or two fees as a courtesy, especially if you have been a customer for a long time or if the error was on the bank's side. There is no may provide, but it is worth asking.
Comparing Regions overdraft fees to other banks
Overdraft fees vary by bank. Most traditional banks charge between $30 and $40 per overdraft, so Regions' $35 fee is in the middle of the range. Some online banks and credit unions charge lower fees or offer overdraft protection at no cost. A few banks have eliminated overdraft fees entirely for certain account types.
If overdraft fees are a frequent problem for you, it may be worth comparing accounts at other banks. Credit unions often have lower overdraft fees and more flexible overdraft policies. Online banks like Ally or Charles Schwab offer checking accounts with no overdraft fees at all — instead, transactions are simply declined if there are insufficient funds. The trade-off is that online banks have fewer physical branches, which may not matter if you rarely visit a branch in person.
Frequently Asked Questions
Can Regions charge me more than three overdraft fees in one day?
No. Regions caps overdraft fees at three per day, which means the maximum you can be charged in a single day is $105. However, if you overdraft on multiple days, you can be charged $35 per day on each of those days.
Does Overdraft Protection work at ATMs?
Yes, Overdraft Protection can cover ATM withdrawals that would overdraft your account. The $10 transfer fee applies the same way it does for debit card purchases. If the linked account does not have enough funds, the ATM withdrawal will be declined and you will not be charged a fee.
Will Regions reverse an overdraft fee if I ask?
Regions may reverse one or two overdraft fees if you contact customer service and explain the situation, especially if the overdraft was caused by an error or if you have a good account history. There is no may provide, but it is worth calling 1-800-637-7455 and asking politely. Be prepared to explain what happened.
What is the difference between overdraft fees and NSF fees?
An overdraft fee is charged when a transaction posts and your account goes negative. An NSF (non-sufficient funds) fee is charged when a check or automatic payment is declined because there is not enough money in your account. Regions charges $35 for overdrafts; NSF fees may vary and should be listed in your account agreement.
Can I get overdraft fees refunded if I close my account?
Closing your account does not erase overdraft fees you owe. Regions will pursue collection of the negative balance, and the debt may be reported to a collection agency or credit bureau if left unpaid. Contact Regions to discuss a payment plan if you cannot pay the full amount at once.