Regions Bank LifeGreen® checking review: Everyday checking with a cash back rewards program

Mother and daughter on a couch with tablet and debit card banking onlineImage: Mother and daughter on a couch with tablet and debit card banking online
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Regions Bank LifeGreen® checking account at a glance

Physical locationsYes — branches and ATMs
Getting startedEasy to open with a $50 initial deposit
Monthly service feeUp to $11 — waive the fee by setting up eligible direct deposit or maintaining an average monthly balance of $1,500
Overdraft fees$36 per item if not covered by overdraft protection
Other fees$3 fee for out-of-network ATMs, $5 fee for international ATM transactions
How to depositIn branch, mobile deposit, direct deposits, ATM, Zelle
How to withdrawCheck, in-person withdrawal, ATM withdrawal, debit card transaction, electronic transfers, Zelle
Notable featureRewards program that makes it possible to earn points on eligible debit card purchases

Like other big banks, Regions Bank offers a variety of services for personal banking, business banking, and investment and retirement management. Regions has multiple personal checking accounts to choose from — including a senior checking account or a checking account that earns interest. 

Their most popular account is Region’s everyday checking option, the LifeGreen account. Let’s dive into the details and see if it’s a good fit for you.

5 things to know about the Regions Bank LifeGreen® checking account

1. Monthly maintenance fee

While the monthly maintenance fee associated with this checking account can range from $8 to $11 per month, you can potentially have the cost waived. 

To waive the monthly maintenance fee, you’ll want to either set up direct deposit (a singular deposit of at least $500 or multiple deposits equaling $1,000 or more per month), or maintain a $1,500 average monthly balance. 

2. Overdraft protection

Overdraft fees with the LifeGreen account can be pricey ($36 per overdraft). Region’s overdraft protection allows you to transfer funds from a linked account — like your savings account — to cover the remaining balance if your checking account drops below zero during a transaction.  But you’ll still face overdraft charges if there isn’t enough in the second account to cover the overdraw.

3. ATM fee discount for military

Regular customers pay a $3 fee when using an ATM that isn’t associated with Regions Bank, but military members can avoid paying an ATM fee on two transactions made with non–Regions Bank ATMs per statement period. To access this perk, all they have to do is present their military ID when they open their bank account.

4. Exclusive cash back offers

Through the Regions Cashback Rewards program, merchants make special offers that can earn you cash back through debit card purchases. You’re automatically enrolled in the program via your debit card after you sign up for online banking. 

To activate a reward, simply log in to your online account and click on the offer. Then use your debit card at said retailer or provider and the cash back will be automatically deposited into your account.

5. One-stop banking

If you want to manage your financial life all in one place, Regions Bank may be a good fit. They offer a suite of options including everyday banking, investment, retirement and business services. And once you open a LifeGreen account, you also have the ability to open a savings account with no monthly fees.

What do you need to open a checking account at Regions?

To open a checking account at Regions Bank, you’ll need to provide your Social Security number or tax identification number, birth date, a form of personal identification (like a driver’s license, passport or state or government-issued ID), and a secondary form of identification (like a Social Security card, birth certificate or insurance card). 

You’re also required to make an opening $50 deposit. 

How do I avoid monthly fees at Regions?

There are two options available to account holders to help them avoid paying the $8 to $11 monthly maintenance fee.

  • Set up a direct deposit. One $500 direct deposit per month or multiple monthly direct deposits that equal at least $1,000 will keep you free of the monthly maintenance cost.
  • Maintain a monthly balance. Keep an average of $1,500 in your LifeGreen checking account to avoid a maintenance fee.

Not sure if Regions Bank LifeGreen® checking account is right for you? Consider these alternatives.

  • Betterment checking: If you’re an avid traveler, Betterment checking might be a good choice — the account comes with automatic reimbursement of ATM fees worldwide.
  • Capital One 360: To avoid monthly maintenance fees without having to jump through hoops, check out Capital One 360 checking, which doesn’t charge any account fees.

About the author: Jacqueline DeMarco is a freelance writer based in southern California who graduated from the University of California Irvine with a degree in literary journalism. She writes about a wide range of topics, including fin… Read more.