The Regions Now Savings1 account has no monthly fee, no minimum balance requirement and allows customers to earn monthly and annual savings bonuses. This account is exclusively for the primary account holder of a Regions Now Card.
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This is a limited transaction account. Regulatory limit of six (6) transfers or payments (preauthorized, automatic, by telephone, or from a personal computer) including drafts, checks, debit card, or similar order (including POS transactions) payable to a third party from your savings account per statement cycle. The preauthorized or automatic transactions may be initiated by Telephone Banking, Regions Online Banking, or standing order. Exceeding the regulatory limit on transfers and withdrawals on more than an occasional basis may result in your savings account being converted to a transaction account. See pricing schedule for full details.
1. In order to be eligible for and to maintain a Regions Now Savings account, you must be the primary owner on a Regions Now Card and you must keep the Now Card open and in active status. If your Now Card is closed or becomes inactive for any reason, or if we otherwise determine that you are not the primary owner on a Now Card, we may convert your Regions Now Savings account to a Savings account. You may open and maintain no more than one (1) Regions Now Savings account at a time as primary account owner. If at any time you are the primary owner on more than one (1) Regions Now Savings account, we may convert any or all of your excess Regions Now Savings accounts to Savings accounts. We will notify you in advance if we convert your Regions Now Savings account to a Savings account. See pricing schedule for full details.
2. Regions Now Savings Annual Savings Bonus: A deposit of at least $5 to your account each calendar month, beginning with the account opening month is required to earn a 1% annual savings bonus. The annual savings bonus is based on the average monthly balance for the 12 calendar month period preceding the month in which the anniversary of your account opening falls (your “Account Anniversary Month”). The bonus will be paid by the second business day of the month following your Account Anniversary Month. To receive the annual savings bonus, your account must be open on the date the annual savings bonus is paid. Maximum annual savings bonus is $100. You are responsible for any tax due on any amount received under this offer. The annual percentage yield (APY) for the Regions Now Savings account is based upon balance and may change at any time. To see APYs in your geographic area use the “Find a rate in your area” function in the “Available Rate” section above. Fees could reduce earnings on the account.
3. Regions Now Savings Builder Bonus: Each month a deposit of funds of at least $5 is made to your Regions Now Savings account AND you make no withdrawals from your Regions Now Savings account during that same month, you will receive a $1 credit to your Regions Now Savings account. The bonus will be paid by the second business day of the month following each month the bonus is earned. To receive the builder bonus, your account must be open on the date the builder bonus is paid. You are responsible for any tax due on any amount received under this offer. The annual percentage yield (APY) for the Regions Now Savings account is based upon balance and may change at any time. To see APYs in your geographic area use the “Find a rate in your area” function in the “Available Rate” section above. Fees could reduce earnings on the account.
4. Subject to applicable overdraft transfer fees. With Overdraft Protection, if one or more transactions would overdraw your checking account, we will automatically transfer money to your checking account from your linked Now Savings account, as provided in the Regions Deposit Agreement. We may decline to transfer funds if the balance for the linked account is insufficient to pay the overdraft. For each transfer, your checking account will be charged the transfer fee provided in the pricing schedule, which is available at regions.com/agreements. See pricing schedule for checking accounts for full details.
5. To avoid the $2 Paper Statement Fee, you must be a Regions Online Banking customer who receives only Online Statements. To get started with Online Statements today, simply enroll in Regions Online Banking. If you are an existing Online Banking customer, log in and select the Online Statements link in the top navigation under Accounts. You must have a valid Social Security Number or Taxpayer Identification Number to be eligible for enrollment in Regions Online Banking. If you unenroll in Online Statements, your account will begin to be charged the $2 Paper Statement Fee each time you receive a paper statement.