What you need to open a Regions savings account
Regions Bank lets you open a savings account online, by phone, or in person at a branch. You will need a valid government-issued ID (driver's license, passport, or state ID), your Social Security number, and an initial deposit. The deposit amount depends on the account type — some Regions savings accounts require a minimum opening deposit, while others do not. You can fund the account with a debit card, transfer from another bank, or cash if you open in person.
The entire process takes about 10 to 15 minutes online or over the phone. If you open at a branch, bring your ID and Social Security number, and a banker will walk you through the account setup and deposit options. Regions will run a background check through ChexSystems (a banking history database) as part of the approval process, but this does not affect your credit score.
You will receive a confirmation email or letter with your account number, routing number, and online banking login details. Your debit card arrives by mail within 7 to 10 business days if you order one. You can start making deposits and transfers immediately, even before the card arrives.
Key Takeaways
- You need a valid government ID, Social Security number, and an initial deposit to open a Regions savings account online, by phone, or in person.
- Minimum opening deposits vary by account type — check the specific savings product you want before you start, because some have no minimum and others require $100 or more.
- The approval process takes 10 to 15 minutes and includes a ChexSystems background check, which does not affect your credit.
- You can fund your account immediately with a transfer or debit card, and your physical debit card will arrive within 7 to 10 business days.
Opening online through Regions' website
Go to regions.com and click the link to open a savings account. You will be asked to choose which savings product you want — Regions offers several, including a basic savings account and higher-yield options. Read the details for each, because interest rates and minimum balances differ.
Enter your personal information: full name, date of birth, Social Security number, address, phone number, and email. Regions will verify this information against public records. If you have moved recently or your name appears differently on your ID than in public databases, the system may flag your application for manual review, which adds 1 to 2 business days.
Next, you will set up online banking credentials: a username and password. Write these down or store them in a password manager — you will need them to log in and manage your account. Regions will send a confirmation email with your account number and routing number. You can then link an external bank account to transfer money in, or use a debit card to fund the account.
Opening by phone with a Regions representative
Call Regions customer service at 1-800-regions (1-800-734-4667). A representative will walk you through the account setup over the phone. Have your ID, Social Security number, and initial deposit method ready — you can provide a debit card number or arrange a transfer from another bank.
The representative will verify your identity by asking security questions based on your credit history and public records. This step usually takes 5 to 10 minutes. Once verified, they will create your account, assign you an account number, and set up your online banking login. They will also confirm your mailing address so your debit card and welcome materials arrive at the right place.
Ask the representative which savings product they are opening for you and what the current interest rate is. Rates change, and different account types earn different amounts. Get this in writing via email confirmation so you have a record of what you agreed to.
Opening in person at a Regions branch
Find your nearest Regions branch at regions.com/locations or by calling 1-800-regions. Bring your government-issued ID, Social Security number, and your initial deposit (cash, check, or debit card). A banker will review the available savings products with you and help you choose the right one based on your goals.
The banker will enter your information into the system, verify your identity, and run the ChexSystems check. This usually takes 10 to 15 minutes. You can fund the account immediately with cash or a debit card. If you want to transfer money from another bank, the banker can set that up, though the transfer itself may take 1 to 3 business days to complete.
You will receive a temporary account number and online banking login on the spot. Your debit card will be ordered and mailed to you, arriving within 7 to 10 business days. Ask the banker for a receipt showing your new account number and initial deposit — keep this for your records.
What happens after you open your account
Once your account is open, you can log into Regions' online banking portal or mobile app to check your balance, transfer money, set up bill pay, and manage your account. Your account number and routing number are available immediately in your online dashboard.
If you ordered a debit card, it will arrive by mail within 7 to 10 business days. When it arrives, you will need to activate it by calling the number on the back of the card or logging into your online account. Until you activate it, the card cannot be used.
Regions will send you a welcome packet by mail with your account agreement, fee schedule, and other disclosures. Read the fee schedule carefully — it lists what Regions charges for overdrafts, ATM withdrawals outside their network, and other services. You can also view this information online at any time.
Minimum deposits and account types at Regions
Regions offers several savings account options, and the minimum opening deposit varies. Some accounts have no minimum, while others require $100, $500, or more. The account type also determines the interest rate you earn — higher-yield accounts often require larger balances to earn the advertised rate.
Before you start the application, decide what matters most to you: a low or no minimum deposit, a higher interest rate, or specific features like no monthly fees. Visit regions.com/savings to compare the current offerings and rates. Interest rates change frequently, so the rate you see today may not be the rate you get if you open the account next week.
If you do not meet the minimum balance requirement, Regions may charge a monthly maintenance fee. Some accounts waive this fee if you set up direct deposit or maintain a certain balance. Ask about these options when you open your account.
If your application is denied or delayed
Regions may deny your application if you have a history of unpaid overdrafts, fraud, or other banking issues flagged in ChexSystems. If this happens, you will receive a notice explaining the reason. You have the right to request a copy of your ChexSystems report and dispute any errors on it.
To get your ChexSystems report, visit chexsystems.com or call 1-800-428-9623. If you find errors, you can file a dispute directly with ChexSystems. Correcting errors can take 30 to 60 days, after which you can reapply with Regions.
If your application is delayed (taking longer than a few business days), call Regions at 1-800-regions to ask why. Sometimes applications are held for manual review if your identity cannot be verified automatically. Providing additional documentation — a recent utility bill or lease agreement — can speed this up.
Frequently Asked Questions
Do I need to be a Regions customer already to open a savings account?
No. You can open a Regions savings account as your first account with the bank. You do not need an existing checking account or any prior relationship with Regions.
Can I open a savings account if I do not have a Social Security number?
Regions requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open an account. If you have an ITIN, you can use that instead. Call Regions at 1-800-regions to confirm whether your ITIN will work before you start the application online.
What is the difference between opening online and opening in person?
Online opening is faster and can be done anytime. In-person opening lets you ask questions and fund the account with cash immediately. Both methods take about 10 to 15 minutes and result in the same account. Choose based on what is most convenient for you.
How long does it take to access my money after I open the account?
You can transfer money into your account immediately after it opens. Transfers from other banks take 1 to 3 business days to show up. Deposits made in person at a branch are available the same day. Debit card purchases can be made once your card arrives and is activated, which is 7 to 10 business days after opening.
Can I change my mind and close the account right after opening it?
Yes. You can close your Regions savings account anytime by calling customer service or visiting a branch. If you close within a certain period (usually 30 days), Regions may charge a fee — check your account agreement for details. Make sure your account balance is zero or transfer any remaining money out before you close it.