Regions Bank LifeGreen® 62+ Checking Account
Banking solution for senior U.S. citizens who:
- are comfortable with Online and Mobile Banking,
- want to earn cash-back rewards on their purchases,
- prefer using a debit card and checks to cash.
securely on the bank's website
Senior U.S. citizens looking for a simple checking account solution that would meet their daily banking needs might want to consider Regions Bank's LifeGreen 62+ Checking.
This checking account comes with a rather low monthly fee, which can be $8 or $11 per month, depending whether you choose to receive electronic monthly statements or not (it'd be cheaper if you do). There are two ways you can have either fee waived. The first is to set up direct deposit: it can be a single monthly direct deposit of $300+ or $1,000+ in combined direct deposits. Direct deposits can be your payroll or government benefits. The second way to have the monthly fee on Regions LifeGreen 62+ Checking waived is simply to maintain an average monthly balance of $1,500 or more in your account.
If you're a U.S. military service member, you will receive 2 Regions out-of-network ATM usage fee reimbursements each month, which is a nice advantage to have. However, even though there are less than 2,000 Regions ATMs across the 15 states in which the bank operates, you should not worry about ATM fees. You can use your Regions Visa CheckCard anywhere Visa is accepted, whether it be online or for in-store payments. You can also add your Visa to a digital wallet, whether it be with Apple Pay, Google Pay, LG Pay, Samsung Pay or Click to Pay with Visa.
Your Visa CheckCard also comes with cashback rewards! Automatically enrolled in the Regions Cashback Rewards program, you will only have to select and activate offers in Online Banking, and then shop using your Visa card!
Security-wise, Regions Bank offers strong protection features, so you can bank knowing your account and personal information is protected against fraud and identity theft. That said, you still need to be prudent, especially when accessing your account in Online Banking or when shopping online. To that end, Regions created a bunch of educational resources you can use to learn about account and finance management, online safety, and digital banking security. It's called Insights by Regions, and it's quite a useful and interesting way to grasp all those financial concepts, tricks, and trends. You can also read more about how Regions protects its customers from cyber crime here.
But, if you ever need help from Regions, you can reach out to them:
- by phone at 1-800-734-4667 (Regions Contact Support Center) or 1-800-472-2265 (Online Banking Support),
- on social media: Regions Bank Facebook, Regions Bank Twitter,
- Regions email.
Overall, this isn't as bad of a senior checking account offer as some available out there. However, just because it says it's for senior citizens, it doesn't necessarily mean it's the best option available to them. We still think that there are better checking account offers, especially in terms of fees and perks included. On the other hand, if you really want a senior checking account, then make sure you've considered as many options as possible - so check out our other senior checking accounts!
Checking account details
- Monthly fee can be waived if you have ACH direct deposit, such as a recurring payroll or government benefit deposit, to your 62+ LifeGreen Checking account (at least one of $300 or more, or a combined amount of $1,000) OR keep a $1,500 average monthly balance in your 62+ LifeGreen Checking account.
- Regions Visa CheckCard with the Regions Cashback Rewards® program.
- Free Online and Mobile Banking with Bill Pay, multiple payment options, such as Click to Pay with Visa, and Regions LockIt®.
- Unlimited check writing.
- Free access to more than 1,900 ATMs.
- 50% discount on one Safe Deposit Box with an additional 10% discount for auto debit.
- Relationship rates on most CDs for customers who meet the Relationship requirements.
- Discount on qualifying installment loans with payments auto debited from a Regions account.
- Insights by Regions.
- Service Member Benefits.
- Optional Regions LifeGreen Savings Account.
- Optional Overdraft Protection.
- Award-winning customer service.
Checking account fees
-
Monthly Fee$8/$11 (can be waived)
-
APY0.00%
-
Minimum Deposit to Open$50
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Out-of-Network ATM Transaction Fee$3
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Out-of-Network ATM Withdrawal Fee$3
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Overdraft Fee$36
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Non-Sufficient Funds Fee$36
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Foreign Transaction Fee3%
Regions Bank LifeGreen® 62+ Checking Account FAQ
As its name states, the Regions Bank LifeGreen 62+ Checking is for legal U.S. residents aged 62 or more. If you open this checking account, but don't meet the age requirements, your LifeGreen 62+ Checking will be converted to the standard LifeGreen Checking Account.
You will pay a $11 monthly maintenance fee if you choose to receive your monthly statements through snail mail. If youenroll in online statements in Online Banking, you will pay a $8 monthly fee on your Regions LifeGreen 62+ Checking Account.
Either of the two monthly fees can be waived if you receive 1 ACH direct deposit of at least $300 each month or multiple ACH direct deposits totaling at least $1,000 combined. The other option would be to keep a $1,500+ average monthly balance.
If you've already opened a Regions Bank LifeGreen 62+ Checking, and enrolled in Regions Online Banking, you should be automatically enrolled in Online Statements. If not, then you need to sign in to your Regions Online Banking, and select "Online Statements" from the Accounts menu, and then follow the link under "Enroll in Online Statements". Each time there's an online document available for you to check, you'll receive an email.
In addition to electronic monthly statements, you may also receive select overdraft notifications, overdraft protection confirmation/termination notifications, stop payment requests, special paying confirmations, or a notice informing you of changes made to your Regions savings, if you have either a Regions Now Savings or LifeGreen Savings.
Your Personal CheckCard Visa works just like any other debit card. It is tied to your Regions LifeGreen 62+ Checking, and secured by the funds available in your account balance. Your Personal CheckCard Visa can be used for both debit and credit payments, anywhere Visa is accepted.
To start using your Regions Visa, you need to activate it first, by:
- calling 1-800-295-8472 and following the prompts,
or
- logging in to Online Banking,
or
- visiting an ATM.
Remember that, every time you use your Personal CheckCard Visa for eligible purchases, you'll earn cash back rewards!
As soon as you open a Regions LifeGreen 62+ Checking Account, you'll get access to your account through Online or Mobile Banking. When you log in, you'll be able to view and activate offers. Then, simply use your Visa CheckCard to pay for those purchases (make sure to read terms and conditions of each offer), and you'll earn rewards They will appear in your checking account within up to 90 days of redemption.
Regions LockIt® helps you control your Regions personal credit cards, CheckCards, and prepaid Now Card by enabling you to decide how, where, and when you use your Regions cards. It protects you against unauthorized charges with the option to lock any transactions you want to block (or unblock) using your Regions mobile app. This feature is great if, for example, you lose your card, since you can block it and prevent its usage with a touch of a button. Also, you can also lock the controls for transactions you want to keep an eye on, so you know when and how your card is being used.
There are 4 card control types available:
1. All Transactions
If you lock this control, your card can't be used for:
- All purchases (online, in-store, and other),
- Call Center transfers,
- ATM cash withdrawals,
- ATM transfers to deposit accounts,
- Non-recurring transactions,
- Credit card cash advances from an ATM, Regions branch or another Visa bank.
2. In-store Purchases
3. Online Purchases
When you lock the Online Purchases control, your card can't be used for purchases online, by mail order or by phone.
4. ATM Transactions
When you lock the ATM Transactions control, your card can't be used for cash withdrawals, transfers to deposit accounts or credit card cash advances at ATMs.
You'll be able to monitor blocked transactions on the app or through Online Banking, and also set up LockIt Alerts for an even greater peace of mind.
You can order checks through Regions Online Banking. When you log in to your Regions Bank checking account, choose "Services" under the "Customer Service" menu.
You can also order checks by visiting your local Regions Bank branch.
A safe deposit box might be a good solution if you need a place to store valuable items, such as important documents (birth certificates, marriage certificates, bond certificates, passports, etc.), rare coins, artwork, and other collectibles, photos, and jewelry. There are several safe deposit box sizes available, the price of which ranges approximately between $44 and $125. Based on your needs, you can rent a safe deposit box with Regions, and get 50% off the original rental price + an additional 10% discount if you set up automatic payments each month. We recommend that you contact your nearest Regions branch for more information.
While Regions safe deposit boxes are water and fire resistant, contents is not insured by either Regions or the FDIC. It is solely your responsibility to insure the contents of your safe deposit box.
A Regions LifeGreen Savings Account might be a good solution for you if you want to save money for your future, and benefit from the convenience of keeping both your checking and savings accounts at one financial institution.
As a Regions Bank LifeGreen for Students Checking customer, you can open a Regions LifeGreen® Savings Account, and pay no monthly fees (otherwise, the fee is set to $18). The Regions LifeGreen Savings has no minimum monthly balance requirements, but you'll need to make a minimum opening deposit of $50. This savings account comes with the usual Regions Bank benefits, as well as a 1% annual savings bonus up to $100 if you set up monthly automated savings transfers from your Regions checking account, and an average 0.01% APY.
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| Bank | Monthly Service Charge | Minimum Deposit to Open | APY |
|---|---|---|---|
| Regions Bank LifeGreen eAccess Checking Account® | $8 (can be waived) | $50 | 0.00% |
| Regions Bank LifeGreen® Checking Account | $8/$11 (can be waived) | $50 | 0.00% |
| Regions Bank LifeGreen Simple Checking℠ Account | $5 / $8 | $50 | 0.00% |
| Bank | Monthly Service Charge | Minimum Deposit to Open | APY |
|---|---|---|---|
| Comerica Bank Rich Rewards® Checking Account | $18 (can be waived / reduced) | $50 | 0.01% |
| Comerica Bank Premier Checking Account | $22 | $50 | 0.01% |
| Comerica Bank Comerica Platinum Circle Checking® | $0 | $50 | 0.10% / 0.25% |
