Overall institution rating
Regions Bank is a regional institution that offers a few features many other banks don’t, such as an annual 1% savings account bonus and a checking account rewards program. But other banks offer better checking and savings rates — not to mention less painful overdraft fees.
Best for: Consumers in the South and Midwest who prioritize rewards checking and savings over high interest rates and don’t make many withdrawals from savings.
Penalty for CFPB settlement: NerdWallet deducted 0.5 star from Regions Bank’s overall rating due to a consumer banking-related settlement from the Consumer Financial Protection Bureau. For more information about our penalty, see our methodology page.
- No monthly fees on some savings accounts.
- Solid regional branch network.
- Early direct deposit.
- Expensive overdraft fee.
- Low rates.
- Excess withdrawal fee.
How does Regions compare?
SoFi Checking and Savings
CIT Bank Platinum Savings
With $0 min. balance for APY
With $5,000 min. balance for APY
Earn up to $300 with direct deposit. Terms apply.
at SoFi Bank, N.A.
at CIT Bank
NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.