Regions Bank is a traditional bank that offers three scalable business checking accounts, an interest-earning checking account, and a nonprofit checking account. All offer waivable monthly fees, a debit card with cash back rewards, online and mobile banking, and access to Regions iTreasury® Small Business, its cash management platform.
The bank excels at blending traditional banking with useful digital tools. Its online banking platform provides access to an in-house budgeting tool called My GreenInsights, which uses banking data to help you make better financial decisions.
One of the Regions Bank business checking requirements to open an account is to set an appointment at a branch. The bank has branches in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, and Texas.
Pros
- Waivable monthly fees
- Cashback on eligible debit card purchase
- Free budgeting tools
Cons
- Locations only in 15 states
- No online account opening
- Only 75 free monthly transactions for entry-level checking account
Features
- Free and customizable Regions Business Visa Debit Card that earns cash back rewards
- Transfer funds, pay bills, and deposit checks via mobile app
- Online and mobile banking
- Access to Regions iTreasury® Small Business cash flow management platform
- Access to My GreenInsights budgeting tool
- Fraud prevention tools
- Discounted safe deposit boxes
- Integration with Quicken and QuickBooks
How Regions Bank Stacks Up Against Its Competitors
Monthly Fee | Monthly Transaction Limit Before Fees | Opening Deposit Requirement | Geographic Availability | |
|---|---|---|---|---|
 LifeGreen Business Simple Checking® | $7; waivable | 75, then 50 cents per item | $100 | |
 Business My Way Checking | $10; waivable | 225, then 50 cents per item | $50 | |
 Silver Business Checking | $0 | 125, then 50 cents per item | $100 | |
When Regions Bank Is a Good Fit
- You run a nonprofit organization: There are no monthly fees for the Regions Bank LifeGreen Not-for-Profit Checking account.
- You want to earn cash back on debit card spending: Through a program called Regions Offers, you can earn cash back rewards on debit card purchases from select retailers.
- You want a bank that can help you budget: Regions’ Online Banking comes with a free budgeting tool called My GreenInsights, which uses your banking data to analyze spending and help you create budgets, savings goals, and loan payoff goals.
When To Choose an Alternative
- You operate outside of the Regions Bank service area: While Regions Bank has over 1,900 ATMs, it only has branches in 15 states. You can opt for Chase for its nationwide branch coverage. Read our review of Chase business checking to find out which of its business checking accounts matches your needs.
- You want to bank without a monthly fee: There are monthly fees for all Regions Bank business checking accounts. If you want a business checking account with a $0 monthly fee and no activity requirements, consider the U.S. Bank Silver Business Checking account. We discuss this account in detail in our U.S. Bank business checking review.
- You want to earn competitive interest on a fee-free checking account: The Regions Bank Business Interest Checking account charges a monthly fee of $15. If you want to earn interest without paying a monthly fee, consider the online-only banking solution Bluevine, which earns 2.0% APY on balances of $250,000 and less. Our review of Bluevine business checking covers how to qualify.
Check out more providers in our list of the best small business checking accounts.
Regions Bank Business Checking Overview
Regions Bank Business Checking Requirements
You can visit the Regions Bank website to fill out an online form so that a Regions Banker can contact you. Another way to open a business checking account is to schedule online for an in-person appointment at the nearest branch. Ask the bank’s specialist what business documents need to be presented at the branch.
Before heading to the branch to open an account, see our guide on how to open a business bank account, which includes a free downloadable checklist of required documents.
Regions Bank Business Checking Features
Regions Business Visa Debit Card
If you have a Regions Bank business checking account, you can apply for a Regions Business Visa Debit Card. This card features secure contactless chip technology that allows single-tap payment. It is also protected through Visa’s Zero Liability Policy.
Through a program called Regions Offers, you can earn cash back on debit card purchases with pre-selected retailers. You are required to enroll in Regions Online Banking to view available cash back offers.
For a fee of $10, you can use the Regions YourPix Studio platform to customize your card’s design.
Online & Mobile Banking
Through the Regions Bank website and mobile app, you can do the following:
- Organize and pay bills
- Transfer funds
- Send money through Zelle
- Manage cards
- View online statements
- Use the My GreenInsights budgeting tool
- Deposit checks through mobile check deposit (app only)
Reviews for Region Bank’s mobile app are superb on both the App Store1 (4.8 out of 5) and Google Play2 (4.7 out of 5). Most users said that they can use the app easily and with no issues. However, a handful of reviewers mentioned that the app crashes upon login and fails to display notifications after update rollouts.
My GreenInsights
My GreenInsights is Regions Bank’s in-house budgeting tool. It lets you do the following:
- View and categorize transactions
- View spending trends based on your banking data
- Set goals for savings and loan payoffs
- Create budgets
- Identify unnecessary expenses
You can link accounts from other financial institutions to get a more complete picture of your financial health. However, not all accounts are guaranteed to be compatible with the platform.
Regions iTreasury® Small Business
Regions Bank provides small business owners with an online banking platform that integrates business checking accounts with QuickBooks and allows secure fund transfers using wire transfer and ACH origination as a low-cost transaction option. Furthermore, business owners are protected from fraud through its Positive Pay services, ACH alert notifications, and user access control.
Business Services
- Merchant services: Mobile credit card processing, point-of-sale (POS) software, loyalty and rewards cards, and payments insider merchant portal
- Cash management/treasury management services: Regions Quick Deposit®, wire transfer, ACH payments, lockbox services, vault services, commercial card, sweep services, and liquidity manager
- Fraud protection: Positive pay and Regions ACH alert
- Payroll: Skylight ONE card, Paycor, employee retirement plans, and employee loyalty cards
- Industry solutions: Agricultural banking and restaurant/franchise banking/McDonald’s franchise financing
Other Regions Bank Business Products
Regions Bank lets you open savings accounts, money market accounts, and CDs.
- Business savings: For a $100 minimum opening deposit, you can earn a variable rate of interest with your Regions business savings account. The $5 maintenance fee is waived when you meet the $500 daily balance requirement.
- Business money market: With a $1,000 deposit, you can grow your money with the business premium money market account. No monthly fee is collected when you maintain a $5,000 minimum daily balance. Otherwise, $12 is charged per month.
- Business certificate of deposit (CD): For a $2,500 minimum deposit, you’re offered guaranteed returns with little risk on your business CDs at flexible terms of seven to 89 days. If you want longer terms starting at 90 days, only $500 is required as a minimum opening deposit. This product has no monthly fees.
- Business promotional CD: For a $10,000 minimum deposit, you can take advantage of high returns with business promotional CDs. This is for a limited time when you have a Regions business checking account. This product has no monthly fees.
There are two types of Regions Bank business credit cards:
- The Regions Visa Business Credit Card offers temporary interest-free financing with no annual fee—it provides an APR of 0% up to the end of your sixth billing cycle. Our Regions Visa Business Credit Card review can help you determine whether the card is right for you.
- The Regions Visa Business Enhanced Rewards Credit Card also provides 0% APR for your first six months and earns one redeemable reward point per $1 spent. Learn more about the card’s rewards program through our Regions Visa Business Enhanced Rewards Credit Card review.
Regions Bank offers the following types of lending products:
- Small Business Administration (SBA) loans
- Equipment and finance leasing
- Small business loans
- Lines of credit
This preferred-customer program connects you to a dedicated Priority Banker that attends to your daily banking needs. To qualify, you need the following:
- A business checking account
- At least $50,000 in combined deposits, loans, and investment balances
Regions Bank Business Checking Reviews From Users
The bank has a 3.8 out of 5 rating on WalletHub3 (based on 2,100-plus reviews). Those who left Regions Bank business checking reviews criticized the bank for having long processing times for transactions. Multiple customers said that the wait time for deposited funds to arrive in their accounts often exceeds three days. One reviewer said that even instant transfers often take hours to clear. These delays often cause customers to incur overdraft fees on automatic payments.
None of the positive reviews published in recent years discussed the bank’s business checking products. Satisfied customers typically remarked on Regions Bank’s credit cards, with many praising the rewards program and 0% introductory APR.
Reviews for customer service are also mostly negative. According to customers, the bank does not have enough staff to accommodate its user base, which leads to long lines at bank branches and long wait times for phone helplines.
Bottom Line
We recommend Regions Bank for organizations wanting useful digital banking tools without sacrificing the traditional banking experience. With in-house budgeting software and cash back programs for both debit and credit cards, the bank is also a great choice for businesses looking to boost their savings.
User review references:
1App Store
2Google Play
3WalletHub
