Regions Bank Rates & Review

Regions Bank Review

Regions Bank was the first multi-bank holding company in Alabama. It is an award-winning bank providing a complete suite of products and services for businesses and individuals alike.

Regions Financial Corporation was formed in 1971. It opened with three affiliate banks including Regions Bank which was founded in 1928. The holding company began acquiring out-of-state banks in 1986. The following year it became the first Alabama bank to offer telephone banking.

Personal banking

Each checking account at Regions Bank can be linked with a savings account to avoid account fees. For example, the Regions LifeGreen checking account (a rewards checking account) can be linked with the LifeGreen savings account. Likewise, the Regions Preferred Plus and PFS checking accounts can be linked with the Platinum Relationship Money Market account.

Other savings account options include a regular savings account, savings for minors, CD accounts with terms starting at 90 days, and a regular money market account. Other personal banking services include loans, Visa gift cards, tax payment services, credit cards, insurance, brokerage services, trust and asset management services, mutual funds, annuities and retirement planning services.

Small business banking

Regions Bank provides a full suite of products and services for small businesses. This suite includes three checking account types, three small business savings accounts, business CDs, SBA loans (and other loans and business lines of credit), business insurance and employee retirement planning.

Commercial banking

An additional suite of commercial banking services supplements the small business product suite. This suite includes deposit services, merchant services, treasury management services, audit confirmations, payroll services and global trade finance services.

Regions Bank awards

This bank has been honored with several awards. It received Top Honors in the First Annual Gomez Web Performance Award 2010. Gomez's research also earned the bank recognition for its accuracy and response time. Additionally, Regions Bank was ranked one of the top small business lenders in the country by the U.S. SBA.

Deposit insurance

Regions Bank has been insured by the Federal Deposit Insurance Corporation since 1934.

In July 2010, FDIC coverage for eligible deposits was permanently increased from $100,000 to $250,000 per depositor. Joint accounts are insured by FDIC up to at least $250,000 per account holder.

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