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 minimum opening deposit varies by account type — some accounts require $25, while others may ask for $100 or more. Check the current requirements on Regions' website or call your local branch, since these minimums change.
You will also need a way to fund the account: a debit card, another bank account for a transfer, or cash if you open in person. If you are opening online or by phone, you will provide your routing and account number from an existing bank account, or use a debit card. Regions will verify your identity during the process, which usually takes a few minutes.
If you do not have a Social Security number, Regions may still open an account for you using an Individual Taxpayer Identification Number (ITIN), though policies vary by state. Call ahead to confirm what Regions accepts in your location.
Key Takeaways
- You need a valid ID, Social Security number, and an initial deposit to open a Regions savings account.
- Opening online takes about 10 minutes and requires access to an existing bank account or debit card to fund the deposit.
- Minimum opening deposits range from $25 to $100 depending on the account type; check Regions' current rates before you start.
- Regions offers multiple account types with different interest rates and features, so compare them before choosing which one to open.
Opening online through Regions' website
Go to Regions.com and look for the "Open an Account" button, usually on the homepage. Select "Savings Account" and choose the specific account type you want — Regions offers several, including basic savings and money market accounts. Each has different interest rates and minimum balance requirements, so read the details for each before you decide.
Enter your personal information: full name, date of birth, address, phone number, email, and Social Security number. Regions will ask for your driver's license or state ID number. You will then choose how to fund the account — either by linking an existing bank account for a transfer or by providing a debit card number. The system will verify your identity, which may include asking security questions based on your credit history.
Once approved, your account opens immediately and you can start using it right away. Your debit card will arrive by mail within 7 to 10 business days if you order one. You can transfer money to your new account before the card arrives.
Opening by phone with a Regions representative
Call Regions at 1-800-REGIONS (1-800-734-4667) to open an account over the phone. A representative will walk you through the same information you would provide online: your ID details, Social Security number, address, and how you want to fund the account. The call usually takes 10 to 15 minutes.
Phone representatives can answer questions about which account type fits your needs and explain the current interest rates and fees. This route works well if you prefer to talk through your options before committing. The representative will confirm your identity and process the opening while you are on the call.
After the call ends, you will receive a confirmation email with your new account number and login information. You can log in to Regions' online banking immediately to check your balance and set up transfers.
Opening in person at a Regions branch
Visit any Regions Bank branch with your ID, Social Security number, and your initial deposit. You can bring cash, a check, or a debit card. A banker will help you choose the right account type and complete the paperwork. This process usually takes 15 to 20 minutes.
Opening in person is useful if you want to ask detailed questions about account features, interest rates, or other Regions products. The banker can also set up online banking access on the spot, so you can start using your account immediately from home. If you bring cash, the deposit posts right away. Checks may take one to two business days to clear.
Find your nearest Regions branch using the branch locator on Regions.com or by calling 1-800-REGIONS. Some branches have limited hours, so check before you go.
What happens after you open your account
Your account is active as soon as the opening process completes, whether you opened online, by phone, or in person. You can log into Regions' online banking or mobile app immediately to see your balance, transfer money, and set up bill pay. If you ordered a debit card, it will arrive within 7 to 10 business days.
Regions will send you a welcome packet by mail with your account details, routing number, and information about online banking. Keep this for your records. You can also download your account statements from online banking anytime.
If you have questions about your new account after opening, call Regions customer service at 1-800-REGIONS or visit a branch. You can also use the mobile app to contact support through chat or message.
Account types and interest rates at Regions
Regions offers several savings account options. The basic savings account has a low minimum opening deposit and no monthly fee if you maintain a minimum balance. A money market account typically offers a higher interest rate but requires a larger minimum balance. Regions also offers certificates of deposit (CDs), which lock your money for a set time period (3 months to 5 years) in exchange for a may provide interest rate.
Interest rates change based on the Federal Reserve's rate decisions and market conditions. Rates vary by account type and by how much money you keep in the account. Check Regions.com for current rates before you open, since what you see today may not be the same next month. You can also call a branch or representative to ask about the latest rates.
Some accounts waive monthly maintenance fees if you keep a minimum balance or set up direct deposit. Others charge a small monthly fee regardless. Read the fee schedule for your chosen account type so you know what to expect.
Frequently Asked Questions
Can I open a Regions savings account if I do not have a Social Security number?
Regions may open an account using an Individual Taxpayer Identification Number (ITIN) in some states, but policies vary. Call your local Regions branch or 1-800-REGIONS to ask what identification Regions will accept in your area.
How long does it take to open a Regions savings account online?
Opening online usually takes 10 to 15 minutes from start to finish. Your account is active immediately, though if you fund it with a bank transfer, the money may take one to two business days to arrive.
What is the minimum opening deposit for a Regions savings account?
Minimum opening deposits range from $25 to $100 depending on the account type. Check Regions.com or call 1-800-REGIONS to confirm the current minimum for the specific account you want to open.
Can I open a Regions savings account for someone else?
No, the person whose name is on the account must be present or complete the opening process themselves. If you want to open an account for a minor, you will need to open a joint account or custodial account with the child's parent or legal guardian.
What if I want to close my Regions savings account later?
You can close your account anytime by visiting a branch, calling 1-800-REGIONS, or using online banking. Regions will send any remaining balance to you by check or transfer it to another account you specify.