Posted by William Charles on November 7, 2018
Bank Account Bonuses

Published on November 7th, 2018 | by William Charles

67

Regions Bank $300 Business Checking Bonus + $150 Referral [AL, AR, FL, GA, IL, IN, IA, KY, LA, MS, MO, NC, SC, TN & TX, In Branch Only]

Offer at a glance

  • Maximum bonus amount: $300
  • Availability:Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee and Texas. In branch only [Branch locator]
  • Direct deposit required: None
  • Additional requirements: See below
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: Up to $1,000 (and another $1,000 when you open a free savings account). Probably won’t work in branch
  • Monthly fees: $5-$10, avoidable
  • Early account termination fee: $25, 180 days
  • Household limit: None
  • Expiration date: December 31st, 2018

The Offer

Direct link to offer

  • Regions Bank is offering a bonus of $300 when you open a new business checking account and complete the following requirements:
    • Show voucher in branch (you can get a voucher on the landing page) and open business checking account with a business visa checkcard by December 31st, 2018
    • Make at least 10 transactions with your new Business Visa CheckCard within 30 days of account opening
    • Keep a balance of $5,000 or more fort he first 60 days

The Fine Print

  • Bonus offer is nontransferable, may not be combined with any other offer, does not apply if the business has or had a Regions Business Checking account opened after Sunday, October 15, 2017, and is limited to one $300 credit to the business identified in the corresponding email.
  • Minimum opening deposit of $100 is required.
  • Our goal is to be your new bank. We think that once you bank with us, you will experience our award-winning customer service and become a long term customer.
  • 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 only valid in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee and Texas.
  • Present a personalized voucher with applicant’s name and registered email address in order to open in branch.
  • This offer is non-transferable, may not be combined with any other offer, does not apply if you have or had an ownership interest in a Regions checking account on or after Sunday, October 15, 2017, only applies to business checking accounts, and may be withdrawn at any time without notice.
  • To earn this bonus, the business identified in the offer has or had must meet all requirements of the offer described above within 60 days of opening your new account.
  • If earned, the bonus will be issued within 120 days of meeting these requirements and will be in the form of a credit to the new checking account which must be open at the time the credit is issued.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

LifeGreen Business Simple Checking – $5 Monthly Fee

The monthly fee on this account is waived with

  • At least $500 in Regions Business CheckCard and/or Business Credit Card purchases

LifeGreen Business Checking – $10 Monthly Fee

The monthly fee is waived if you do any of the following:

  • $2,500 average monthly statement balance
  • At least $1,000 in Regions Business CheckCard and/or Business Credit Card Purchases
  • At least one Regions Merchant Serivces transaction credited to this account

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 $150

There is also a referral bonus you can receive in addition to this $300 bonus (bringing the total to $450). This has worked in the past on the personal account, but it is no guarantee to work this time around. You can share your referrals here.

Our Verdict

As far as I know we’ve only seen the $150 referral bonus before. I’m not entirely convinced you’ll be able to stack the business bonus with the referral as it requires opening in branch, but I guess it might be possible? Either way the $300 bonus is worth doing if you live not too far from a branch, have a business and $5,000 to spare. Because of that I will be adding it to our list of the best business checking bonuses.

Hat tip to GunneRy0205

Useful posts regarding bank bonuses:



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Dylan
Dylan

Ooooh, good morning to me! Thank you for this info.

The terms are a bit conflicting regarding having a previous Regions checking account: “does not apply if the business has or had a Regions Business Checking account opened after Sunday, October 15, 2017” and “does not apply if you have or had an ownership interest in a Regions checking account on or after Sunday, October 15, 2017.”

Hopefully this is business checking specific. We’ve got a Regions branch in the area and will at least attempt to take advantage of this offer.

mjs
mjs

I saw the exact same thing! Let us know what you hear.

I think it’s probably a good idea to at least send the email for the business bonus to a separate email from any used to have earned a personal bonus (just in case they evaluate the bonus eligibility in some way on the email, and just to make sure they don’t already see a bonus was paid to the same email).

Sean
Sean

That’s the language I am worried about as well. I have had a personal account and received a bonus there, but never a business account

Mike
Mike

I can’t think of a single bank who does not treat personal versus business as separate entities. Business and personal are two different “people”.

Jay
Jay

The referral system you linked to doesn’t seem to be working for Regions anymore.

However, this seems to be current and does apply to business accounts:
https://www.regions.com/promo/refer-a-friend
https://offers.regions.com/#!/registration

Also, might want to remove the CC funding part because this is in-branch only.

Thanks for the HU. As for the “does not apply if you have or had an ownership interest in a Regions checking account on or after Sunday, October 15, 2017″ language, I will try to be the DP on this. I closed my personal Regions checking account in Nov 2017.

Joe
Joe

Business account is in the terms. You’re fine.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

It posts up to 120 days after meeting requirements that’s brutal. Wish I lived in a state with a branch.

Clinton
Clinton

I think most DPs show it posting about a month after all requirements are met
EDIT….Sorry, just realized this is for Biz checking

Dan - Legal Bank Robber
Dan - Legal Bank Robber

No worries!

Vikram
Vikram

What qualifies as a business with them? Can I just mention I buy and sell things (which is true) or would I need to bring verified documents etc?

SA
SA

Any idea about their business credit cards if they show up on personal reports or not?

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Personally, I do not know with certainty. The status quo for most biz. are that they count as a hard pull on personal reports, but do not show as an account. So if you’re worried about it effecting your 5/24 status, you are most likely good.

Dylan
Dylan

You wouldn’t want their biz cards anyway unless you were trying to take advantage of the 0% APR offers.

Their best card get’s you 1% back everyware and that’s it.

Mike
Mike

William Charles
Regions has a new referral system. I posted a new link in the dedicated thread (awaiting moderation). Maybe it would make sense to clean up the thread since none of the old links are working anymore.

PlugNPray
PlugNPray

Do we need proof of business ownership to open this business checking account in regions branch? Or just tell the banker any name in our mind?

A M
A M

Usually go with a sole proprietor business type which just needs your name and your own SSN

akjohnny
akjohnny

I’m starting to like regions bank… $200 bonus plus $2k in credit card funding on personal accounts… now $300 bonus and another $2k in cc funding for min spend requirements…

Joe
Joe

No CC funding. It’s in branch.

David
David

we can only fund CC in branch?

akjohnny
akjohnny

is there a way to self refer for this bonus?

Mike
Mike

Only existing account holders can refer.

Mike
Mike

It’s important to note that the referral qualifications require a $500 opening deposit and signing up for e-statements.

Derrick C
Derrick C

Is the easiest way to avoid monthy fees just to do the LifeGreen Business Checking with the $10 monhly fee and keep a $2,500 avg monthly balance? Or what does everyone do to waive the fees?

Mike
Mike

Yes, that seems the to be the easiest way.

simon
simon

my DP here, i gave toad my email and name and within 5 minutes after he put in, regions email me a link to sign up for the $150 referral, i clicked the link from regions and registered my info, then went regions 1 hour later at TN with the email print out about $300 bonus, banker has no idea, then asked manager for help. spent about 20 minutes to open sole prop/ lifegreen simple business account, she said i have 60 days to deposit 5k, 30 days to use debit card 10 time and signed on line estatement to get bonus 300$. she did not put in code during process due to she said no where to put, she took the print out and put in my file and said she wanted to make sure i got bonus later. Whole process is simple, no paperwork needed, no hardpull, just name, address, business name and tax ID and SSN. I deposited 500 cash to open. If anyone want to open, send me your email address and full name, I will put in regions for you, so they can send you a link for the referral bonus. its totally different with the 300$ bonus, make sure email address matches. My email is [email removed. Share that in the dedicated referral post]

SA
SA

Did they ask you for EIN and SSN both or SSN only would suffice?

Toad
Toad

SA I believe just SSN would suffice, but if you have done a personal account referral and bonus with them, I would probably open with an EIN just so everything is completely separate. I used an EIN, but reading through their documents seem to indicate SSN is ok. Also note that if you have done a personal referral you will need to use a different email for the business referral (and to open the account with).

simon
simon

@SA Toad is correct below, even though i gave both SSN and EIN to her, but the impression banker gave me was that SSN is enough if you open as Sole prop business owner, reason i open lifegreen simple due to i plan to use the business debit card to load my bluebird $126 weekly to satisfy the 500 monthly debit usage requirement to avoid monthly fee. unless someone here think its a no go.

Toad
Toad

simon I appreciate you using my referral, but you just hosed yourself. $300 bonus requires a balance of $5k or more for the first 60 days…you need to open with $5k. I would immediately make an ACH transfer for the remainder and hope for the best.

Edit: I read your post to fast, although I’m not sure I would believe you have 60 days to deposit the $5k since it directly contradicts the bonus terms.

Ricky
Ricky

Does anyone have a DP yet confirming that you are able to stack the $300 business account bonus with the $150 referral bonus for a total bonus of $450?

Mike
Mike

I for sure know it works with personal accounts. Not sure why business would be any different.

Mimi
Mimi

I can confirm I got the $150 VGC from getting referred followed by the $300 bonus.

Charles
Charles

I went to apply today and was told that I need $5,000 in the account or more from Day 1 to Day 60 for the bonus.

A M
A M

Yes, the terms say that: “Keep a balance of $5,000 or more fort he first 60 days”

John McBride
John McBride

Tried to open in-branch in Texas. Turned away after presenting the voucher for not having a d/b/a. My business is actually real; I’m a sole prop.

A M
A M

That sucks, it’s happened to me too. Try going to another branch.

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