Regions Bank today introduced more features to help customers improve financial health.
Effective June 16, those include:
- Eliminating non-sufficient funds fees, also known as returned item fees, for all checking, savings and money market accounts.
- Lowering the cap on overdraft fees to three per day for all banking accounts except analyzed and commercial accounts.
These updates follow Regions’ elimination of its Overdraft Protection Transfer fee in March and are part of the 2022 changes to overdraft-related fees the bank announced in January.
“Customers are looking to us even more to help them meet daily financial needs, cover unexpected shortfalls, and plan for the future,” said Kate Danella, head of the Consumer Banking Group. “As their relationship bank, we remain committed to offering the tools and product features that enable them to keep up with bills, avoid late fees, and manage their finances.
“These important changes are part of our continuous focus on making banking easier and more relevant to our customers by leveraging technology while delivering an ever-more-personalized customer experience through skilled bankers.”
We succeed when our customers succeed. That is our focus and our commitment every day, and why we believe so strongly in empowering customers to manage and maintain financial health.
Kate Danella, head of the Consumer Banking Group
Danella said this includes the Regions Greenprint® financial plans the company’s bankers help customers prepare. Each plan gives customers a financial health score and recommended next steps to take to improve and reach financial goals.
Since Regions launched Greenprint in 2020, the bank has provided more financial health scores to customers than any other U.S. financial institution, according to the Financial Health Network. Greenprint plans use its FinHealth Score® Toolkit and framework to assess financial health. Regions completed more than 1 million personalized financial plans in 2021 alone for customers.
“We succeed when our customers succeed,” Danella said. “That is our focus and our commitment every day, and why we believe so strongly in empowering customers to manage and maintain financial health.”
More help coming for customers
Danella said Regions has more help for customers coming soon.
On July 14, the bank will reduce the Overdraft Protection transfer amount from increments of $100 to $10 so customers can keep more in the accounts they link to checking to cover overdrafts. And in September, Regions will give consumers access to qualifying direct deposits up to two days earlier and offer a new overdraft protection line of credit option up to $500 for eligible personal account customers.
Regions’ latest upgrades to its core checking products continue the bank’s multi-year journey to give customers greater control over their accounts.
That has brought improved account alerts, time order posting, the Bank On-certified Regions Now CheckingSM account with no overdraft fees, the LifeGreen Savings Bonus and Now Savings Bonus Programs that enable customers to earn a 1% annual savings bonus of up to $100 by meeting program requirements, projected available balance displays and other Mobile and Online banking enhancements, upgrades to the bank’s personal financial management tool – My GreenInsights, and many other additions to make banking easier for customers.
