Regions has launched a digital Direct Deposit Switcher tool giving customers an easier and secure way to set up direct deposits with the bank.
How it works
Customers first enroll in Online Banking then download the Regions Mobile app. Then instead of filling out and providing a paper form to their employer they:
- Log in to the Mobile App or Online Banking1 and navigate to “Manage direct deposits.”
- Select their account and choose their employer or payroll provider.
- Confirm the Direct Deposit Setup and Deposit Amount.
Highlighted on the Direct Deposit Overview page of Regions.com, Direct Deposit Switcher gives Regions its first fully digital direct deposit setup solution. The traditional method involves using the direct deposit forms supplied by the employer’s payroll department to provide the account and routing numbers needed to set up payroll deposits.
While approximately 85% of employers and payroll providers are supported through the new digital Direct Deposit process, the new tool also accommodates employers that still require paper forms, helping ensure a smooth experience across a wide range of employer scenarios.
“We’re excited about the ability of Direct Deposit Switcher to help us create extraordinary experiences that build financial confidence and share the benefits of a Regions banking relationship with even more customers,” said Kimberly McDonald, manager of Consumer Checking Products.
We’re excited about the ability of Direct Deposit Switcher to help us create extraordinary experiences that build financial confidence and share the benefits of a Regions banking relationship with even more customers.
“This tool gives customers the convenience they expect from their bank and, with Early Pay, the ability to access their money from participating employers or federal and state government payments up to two days earlier.”
It may take up to two pay cycles for direct deposit requests to take effect.
Direct Deposit Switcher benefits
- Seamless setup: No manual entry of routing/account numbers.
- Digital: No paper forms required.
- Split deposits: Customers can allocate portions of their paycheck to multiple Regions accounts such as automatically sending a certain percentage to savings and the rest to checking.
- Automated savings: Encourages financial wellness by making saving effortless.
- Enhanced security: Encrypted connections protect sensitive information.
Ready to serve
With the launch of Direct Deposit Switcher, Regions is streamlining deposit and account-opening processes to address a known obstacle for customers.
Many customers have multiple accounts but few switch their direct deposits because of steps like having to provide forms completed with their checking account routing and account number to employers and/or provide a voided check with the information.
“We know how difficult it can be to switch banks or set up direct deposit so we want to take that stress off the table with Direct Deposit Switcher,” McDonald said. “It’s fast, it’s secure, and it’s built to make life better for our customers.
“Whether they’re opening a new account or just looking for a better way to manage their money, this tool helps them get started quickly so they can take the next step in their financial journey.”
1Enrollment in Regions Online Banking requires eligible Regions accounts. To enroll in Online Banking, you must have either a Social Security or taxpayer identification number or use alternative enrollment procedures available by visiting a branch. Regions Mobile app, Alerts, Notifications, Text Banking and Mobile Deposit require a compatible device and enrollment in Online Banking. All are subject to separate terms and conditions. There is no fee to access Online Banking or the mobile app, but fees may apply to certain products and services offered through Online Banking and the mobile app. Mobile Deposit may be subject to fees. Your mobile carrier’s messaging and data fees may apply. You must be at least 18 years of age to use Regions Bill Pay or Zelle®. U.S. checking or savings account required to use Zelle®. We can provide Text Alerts only if you have provided your compatible mobile phone number and/or email address to us; we can provide alerts by text only if you have not opted out of communication via these methods. We provide alerts as a courtesy, and have no liability for any failure or delay to provide an alert to you. We may modify or discontinue these alerts at any time and without notice to you.