Regions Bank $400 Checking Bonus + $50 Referral [ AL, AR, FL, GA, IL, IN, IA, KY, LA, MS, MO, NC, SC, TN & TX]

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Offer at a glance

  • Maximum bonus amount: $400/$450
  • Availability: AL, AR, FL, GA, IL, IN, IA, KY, LA, MS, MO, NC, SC, TN & TX. Note that opening online doesn’t seem to work in some areas, according to some, you need to live within 50 miles of a branch. [Branch locator]
  • Direct deposit required: Yes, or ACH deposit $1,000+ 
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: Up to $125 (and another $125 when you open a free savings account). Only Visa accepted.
  • Monthly fees: $8, waive-able
  • Early account termination fee: $25 if closed within 180 days
  • Household limit: None mentioned
  • Expiration date: April 29, 2022

The Offer

Direct link to offer

  • Receive a bonus of $400 when you open a new Regions Bank checking account with promo code . Requirements are as follows:
    • Make $1,000 in total deposits that post to your account within 60 days of account opening. Deposits must be new to Regions
    • Enroll in online banking within 30 days of account opening

The Fine Print

  • Register before or at the time you open your checking account to be eligible.
  • Present the personalized voucher emailed after registration was completed with your name and registered email address.
  • To open online: You must enter the promo code at the time you open your account online to be eligible for this offer.
  • General: Offer only applies to personal LifeGreen checking accounts.
  • Email address used when opening your checking account must match the email address used when registering.
  • We reserve the right to terminate this offer without notice at any time in the event of any suspected or actual abuse or fraud.
  • Offer valid in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, and Texas.
  • This offer is nontransferable, may not be combined with any other offer, and does not apply if you have or had an ownership interest in a personal Regions checking account on or after March 1, 2021, and may be withdrawn at any time without notice.
  • When the credit is issued, new account must be open and have a positive balance. Enrolling in Online Banking requires a Social Security or Taxpayer ID number (alternative options may be available by visiting a branch).
  • Total deposits may be combined to exceed $1,000, must post to your new account within 30 days of account opening, must be new funds to Regions, and may not be transferred from other existing Regions accounts.
  • Regions may report bonus value to the IRS as required by law; anyone whose tax status would require Regions to impose tax withholding is not eligible.
  • Regions associates are not eligible. Deposit Accounts: All LifeGreen checking accounts require a $50 minimum opening deposit. As of March 1, 2022, the Annual Percentage Yield (APY) paid on LifeGreen Preferred Checking® accounts was 0.01% for all balances. Regions may change the APY at any time. No interest is paid on other personal checking accounts. Fees may reduce earnings. Accounts opened in Iowa may be subject to a 6% Iowa State Tax.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

LifeGreen Checking, $8 Monthly Fee

The monthly fee goes from $8 to $10 if you opt for paper statements instead of online statements, but this bonus requires you to opt for online statements. The monthly fee is waived if you do any of the following:

  • Receive a single ACH direct deposit, such as a recurring payroll or government benefit deposit, of at least $500, OR
  • Receive multiple ACH direct deposits, such as a recurring payroll or government benefit deposit, with a total combined amount of at least $1,000, OR
  • Have an average monthly balance of $1,500 or more (this is presumably calculated using a daily average and is not the same as a minimum monthly balance)

Early Account Termination Fee

There is an early account closure fee of $25 if you close your account within 180 days of account opening.

Referral Bonus $50

There is also a referral bonus you can receive in addition to this $200 bonus (bringing the total to $250). This has worked in the past, but it is no guarantee to work this time around. Do not share your referrals in the comments below, they can be found and shared here.

Our Verdict

Normally this is a $200 + $50 bonus. This is an extra $200, obviously making this deal significantly better. Terms do state ‘Register before or at the time you open your checking account to be eligible. Present the personalized voucher emailed after registration was completed with your name and registered email address’ but apparently this refers to accounts opened in branch and you can enter your details to get the promotion e-mailed to you. Assuming this is open to all it’s a fantastic deal and worth doing. I’d recommend signing up sooner rather than later if eligible as I can see this being pulled early. We will add this to our best bank account bonus page.

Do not share your referrals in the comments below otherwise you will be permanently banned. You can find them and share them in this linked post.

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