What is Regions Ready Advance?
A short-term form of credit, Regions Ready Advance allows eligible Regions consumer checking account customers to take an advance on their next qualified direct deposit.
How Regions Ready Advance Works
Ready Advance Features
There's generally no application — access is immediate via Online Banking for all eligible customers. Once you activate your Ready Advance account and take an advance, funds are available.
- Ready Advance helps meet unexpected financial obligations like auto repairs, medical expenses, home repairs and other immediate financial needs.
- There's no application, no underwriting and no closing process for eligible customers.
- Available credit ranges from $50-$500* based on half of your combined monthly direct deposits of $100 or more.
- Payments are conveniently drafted* from your next eligible direct deposit.
- A Cash Advance fee of $1 applies to every $10 you advance.*
- There are no additional fees which are typically associated with other lines of credit - annual fees, over-limit fees, late fees, etc.
- Eligible customers build a credit record as accounts are reported to the credit bureau.
- You must have an active eligible checking account with Regions for at least six months.
- Your checking account must have combined monthly direct deposit(s) of at least $100.
- Your checking account may not be linked to a credit product for overdraft protection.
- Your checking account must not currently be in a derogatory* status.
For more information, see the Regions Quick GuideSM to Ready Advance
Account Agreement and Disclosures
Note: This could be an expensive form of credit. You will be charged a Cash Advance Fee of $1 for each $10 you advance. Advances taken must be repaid quickly. Ready Advance is intended to be a short-term product to meet your cash needs. It is not recommended as a solution for long-term financial needs.
*See the Ready Advance Account Agreement and Disclosures for additional details and a full list of the eligibility requirements. Customers may elect to repay in installments. Monthly outstanding balances will be subject to an additional 1.75% monthly periodic rate (21% APR). Certain restrictions apply. Ready Advance is not available for deposit accounts originated in North Carolina. After you have been a Ready Advance customer for 12 complete statement cycles, and if your account is not in default, your Cash Advance Fee will decrease to $0.70 per $10 advance and, your credit limit may increase up to $1,000 based on your qualifying direct deposit activity. Additionally, each month your entire outstanding Ready Advance balance will be automatically debited from your checking account on your monthly Payment Due Date instead of upon receipt of your next direct deposit(s), unless you elect otherwise as provided in the Ready Advance Account Agreement and Disclosures.