Regions Bank $300 Checking Bonus + $50 Referral [AL, AR, FL, GA, IL, IN, IA, KY, LA, MS, MO, NC, SC, TN & TX]

Update 1/4/25: Deal is back, end dates: Register by June 2025, Opened by July 2025. Terms state ‘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if you have or had an ownership interest in a personal Regions checking account on or after January 1, 2024, and may be withdrawn at any time without notice.’ so might be targeted. In the past this language hasn’t been enforced.

Offer at a glance

• Maximum bonus amount: $300
• Availability: AL, AR, FL, GA, IL, IN, IA, KY, LA, MS, MO, NC, SC, TN & TX
• 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: 9/30/2023

The Offer

Direct link to offer

• Receive a bonus of $300 when you open a new Regions Bank checking account with promo code RGSPRNG24RM. Bonus is broken down 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

The Fine Print

• Important Information: 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if you have or had an ownership interest in a personal Regions checking account on or after June 1, 2022, and may be withdrawn at any time without notice.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)
• . 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 June 1, 2023, 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. Direct Deposits: Qualifying ACH direct deposits do not include Zelle®, Credits and Transfers.
• Qualifying ACH direct deposits may be combined to exceed $1,000, include recurring payroll or government benefit deposits, and must post to your new account within 90 days of account opening. All accounts are subject to the Regions Deposit Agreement. Your wireless carrier’s data fees may apply to mobile activities.
• 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

Not as good as the $400 bonus, but better than the regular $200 bonus. I’m not sure if we will see that $400 bonus return anytime soon so it could be worth doing this bonus instead. There is some targeted language in the terms, but I think that just refers to need to register for this promotion before signing up. We will add this to our best bank bonus page.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times

Post history:

• Update 7/11/24: Deal is back and valid until 12/31/24.
• Update1/2/24: Extended through June 30, 2024
• Update 10/3/23: Extended through December 31, 2023.