Wednesday, 25 November 2020

Regions Bank Reviews: CD, Checking, Savings, Money Market and IRA Rates

In order to open this account, you’ll need to meet a few requirements:

  • Make an opening deposit of at least $15,000
  • Have a Regions Bank checking account with either:
    • At least a $2,500 daily balance, or
    • A monthly direct deposit

If you can meet those criteria, you can earn slightly higher rates than with Regions Bank’s standard Money Market account. In order to waive the monthly fee, you’ll either need to have an active LifeGreen Checking account, or keep at least $15,000 in your money market account (which, coincidentally, is also the minimum opening deposit). Other than that, this account works very similarly.

If you go over six transactions out of the account each month (not including ATM or in-person withdrawals), you’ll face a $15 per-item excessive transaction fee. If you do this enough times, Regions Bank might change your account type to one that allows more frequent transactions.

You get a 50% discount on a safe deposit box with this account, as well as free basic monthly paper statements if you choose. If you want “deluxe check images” with your paper statement, you’ll need to pay another $5 monthly fee.

How to get Regions Bank’s Platinum Relationship Money Market account

Unfortunately, you are not able to open this account online. You’ll either need to visit a local branch in person, or make an appointment over the phone to open this account.


« »


Related Articles