The Bank On Certified Account gives people a new option to access banking services and achieve their financial goals.
BIRMINGHAM, Alabama, September 30, 2021– (BUSINESS WIRE) – Regions Bank announced the launch of Regions Now Checking on ThursdaySM, a checking account that combines the convenience of modern banking services with the absence of overdraft fees.
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Regions Bank announced the launch of Regions Now Checking, a certified Bank On account that combines the convenience of modern banking services with no overdraft fees. (Photo: Business Wire)
The account meets the national standards of the Cities for Financial Empowerment (CFE) Fund for Bank On certification.
Regions Now Checking complements the Regions Now Banking suite of financial solutions. With a low, flat monthly fee of $ 5, Regions Now Checking customers will not incur overdraft fees or insufficient funds. Regions Now Checking also offers traditional checking account functionality, such as check writing and mobile and online banking with bill payment and Zelle®, all compliant with Bank On National Account standards. In addition, Regions Now Checking accounts can be linked to other Regions accounts for overdraft protection without overdraft protection transfer fees.
“We’re here to meet people where they are and help them get to where they want to be in terms of reaching their financial goals,” said Scott Peters, Head of Consumer Banking Group for Regions Bank. “Regions Now Checking is a natural extension of our commitment to making banking easier by helping people manage and grow their finances through innovative and convenient options. This account also complements the financial wellness and budgeting tools available. free for all through Regions Next Step® and Regions.com. Our teams work every day to connect people with personalized financial information and advice, and we are delighted to add Regions Now Checking to our comprehensive network of services and solutions.
The Bank On certification aims to bring banking solutions to the underbanked and to ensure that everyone has access to a safe and affordable bank account. The CFE Fund supports financial empowerment strategies in communities across the country and works to improve the financial stability of low and moderate income households. This matches the regions emphasis on financial inclusiveness and efforts to meet the financial needs of existing customers as well as those not yet served by the banking system.
“The Cities for Financial Empowerment Fund is delighted to award its national Bank On Account certification to the Regions Now Checking Account at Regions Bank,” said Jonathan Mintz, President and CEO of the Cities for Financial Empowerment Fund. “This account provides consumers in the Southeast, Midwest and Texas looking to improve their finances a safe, affordable and truly useful consumer banking product – this is especially important during COVID-19, as consumers need to access and manage their money is both affordable and safe. Regions Bank’s offering of this great account puts them at the forefront of national banking access efforts, and we thank them. “
In addition to the regions being audited, other progress made by regions over the past year includes moving to an improved process for posting orders over time. Through this process, regions continue to apply available credits and deposits each day to accounts – before debits, payments and withdrawals are processed – offering customers the highest available balance to cover payments. or withdrawals of the day. The novelty is a more real-time approach to processing debits, payments, transfers and withdrawals to better reflect the order in which these transactions were received by the bank.
Regions have also reduced the number of overdraft fees and insufficient funds that can be charged to customers on other types of accounts each day. In addition, the bank has changed the way checks are processed on personal accounts to show pending transactions earlier, and regions have improved account alerts to let customers know more about transactions and balances. Customers can set personalized alerts, such as deposit and withdrawal alerts, to track their transactions and balances.
Regions have also improved their online and mobile banking services by using simpler language to describe pending transactions and providing expiration dates to indicate when funds pending for a deposited check will be available. Customers now also see a Projected Available Balance, which is their estimated Available Balance after the next nightly post.
Advancing financial well-being is a key priority for Regions Bank. In addition to the Regions Next Step program, Regions has for many years supported various financial education opportunities in the Southeast, Midwest and Texas. This includes growing regional financial support for Operation HOPE and its free HOPE Inside advice at various regional branches and through community workshops. Regions also works with schools, colleges, universities, and other organizations to connect people with free information to help them build a secure financial future.
Customers interested in opening a Regions Now Checking account can learn more at regions.com, by visiting a Regions branch or by calling 1-800-REGIONS.
About the Regions Financial Corporation
Regions Financial Corporation (NYSE: RF), with $ 156 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of personal and commercial banking services, wealth management and mortgage products and services. Regions serves customers in the South, Midwest and Texas and, through its subsidiary, Regions Bank, operates more than 1,300 bank offices and approximately 2,000 ATMs. Regions Bank is an equal housing lender and member of the FDIC. Additional information about Regions and its full range of products and services is available at www.regions.com.
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Jeremy D. King
Bank of regions
Regional news online: regions.doingmoretoday.com
News from the regions on Twitter: @RegionsNews