Regions Bank Overdraft Fees, Limits & Protection

Overdraft Apps » Bank Overdraft Policies » Regions Bank Overdraft Fees, Limits & Protection
Fee Cost Maximum overdrafts
per day
Maximum Daily
Cost
Regions Bank Overdraft Fee $36 5 $180
Regions Bank Insufficient Funds Fee $36 6 $216
Regions Bank Linked Account Transfer Fee $0 $0 $0

Though Regions’ bank recently announced changes to its overdraft protection program to reduce and eliminate some fees, it continues to charge above average fees that quickly surpass $100 per day if you aren’t carefully tracking your spending.

In this guide, we’ll break down how and when Regions charges you for overdrafts, what those fees can cost you, and some simple tips and tricks to avoid them altogether!

What We’ll Cover:

What Is Regions Bank’s Overdraft Policy?

Like most banks, Birmingham-based Regions requires customers to enroll in its overdraft protection program (sometimes called Regions ODP) in order to process overdraft transactions. There is no cost for Regions’ overdraft protection, which will link your savings account, credit card or line of credit to your checking account.

Once enrolled in overdraft protection, you can usually overdraw your account via ATM withdrawals, bill payments or debit card purchases at any time up to the amount available in both of your linked accounts, and beyond that amount (meaning you will have a negative balance) at the bank’s discretion. Regions will first try to transfer funds from your linked account to prevent your checking account balance from turning negative. It will do so in the greater of $100 increments or available funds in your linked account.

There is no fee for overdraft protection transfers.

regions open bank account

How Much Is Regions Bank’s Overdraft Fee?

Regions does not charge a fee for overdraft protection transfers, so if your linked account can cover your pending checking account transactions, you’re all set.

If your linked account does not have a large enough balance to cover an overdraft item, Regions will still process the transaction at its discretion, which will overdraw your account and result in a negative balance. Depending on your overdraft election, Regions will then charge your checking account a Paid Overdraft Item fee or a Returned Item fee of $36 per item. The $36 fee is above average for bank overdraft fees.

You may have multiple overdraft fees per day by making just a few small purchases while your account is overdrawn. Regions will currently charge you for up to five overdraft fees per day (5 overdrafts X $36 fee = $180!), though the bank recently announced that it will reduce this cap to three overdraft fees per day in mid-2022, which is still a painful $108 daily maximum! The bank will also be eliminating insufficient funds fees (also known as NSF), which it declines to process an overdraft transaction.

Customers with a Regions Now Checking account are not subject to overdraft fees, though that account carries a $5 monthly fee.

regions overdrafts fees
Regions currently charges up to five overdraft fees per day, totaling $180, but has announced that it will lower the cap to three daily fees in mid-2002

How Much Will Regions Bank Let Me Overdraft at an ATM?

If you’ve opted in to overdraft protection, then Regions Bank will let you overdraft at an ATM, so you can access cash. If your linked account has a large enough balance to cover the transaction, then you’ll avoid any fees. Otherwise, you’ll incur a $36 overdraft fee and any additional debit card purchases or bill payment you make that day will also be subject to additional fees, so be careful!

If you’re a new Regions Bank customer, you’ll generally need to wait 14 days to start accessing the overdraft protection features of your account, regardless of what the balance of your linked account is. There is one exception, though, that will let you overdraft your bank account right away. If you have an existing Regions Bank credit card account or open a new credit card with the bank and activate your card, you’re access to overdrafts will be activated even if you haven’t yet reached the 14 day waiting period.

If you’re not participating in Regions’ overdraft protection program, you won’t be able to use your debit card to make purchases or access cash if they would push your account into negative territory.

To opt-in to overdraft coverage, you can do one of the following:

  1. On the Regions Bank website, click the customer service tab and click manage overdraft protection from the account services section.
  2. Enroll the account and allow one business day before seeing coverage in effect.
  3. Log in to your Regions account and select overdraft coverage options from the customer service menu online.

You can also setup overdraft protection by calling Regions’ customer service number or visit your local Regions Bank branch.

regions banking atms

Does Regions Bank Charge NSF Fees?

Yes, Regions Bank charges a $36 fee for insufficient funds or returned items. This can be particularly frustrating and costly, as your transaction not only didn’t get completed but you get to pay the fee as well. If you had a bill payment bounce, you could be looking at significant fees for the bounced payment from that provider as well.

Regions will decline to process your transaction if you are not enrolled in overdraft protection or if the bank does not feel you will be able to promptly cover the cost of the transaction, even if you have some available balance in your linked account.

Good news, though – Regions has announced that it will also be eliminating NSF fees on most consumer checking accounts in mid-2022.

regions bank charge nsf fees

Can You Get a Regions Bank Overdraft Fee Waived?

Despite what many people think, it is possible to get an overdraft fee refunded or waived. As mentioned before, customers can receive a one-time refund on a returned item fee and an overdraft fee. You can call 1-800-734-4667 for a full refund.

Although U.S. banks make an average of $15 billion per year on overdraft fees alone, they do not particularly like it when you overdraw your account too often. As a consequence, the bank can report you to a credit bureau and terminate your bank account.

Here are a few tips to have your overdraft fee waived:

  • Speak to your bank and let them know the background information involving the overdraft.
  • Mention that you are unsure how this happened and ask to have it removed.
  • Remember banks are willing to forgive overdraft fees, especially during a pandemic.
  • Mention you are a loyal customer and that it is not common practice for you to do this.
contact regions bank

How To Avoid Overdraft Fees With Regions Bank

Customers hate overdraft fees. About 60% of customers have taken action after receiving a fine or fee, some of who closed their accounts for good.

Avoid overdraft fees by balancing your checkbook regularly and creating a budget for your household. Create an organized shopping list to avoid impulse buying.

If you have a shared account with another person, you can give them control of the checkbook and debit card as long as you know that they are trustworthy.

Never make a payment or write a check that is more than your current balance. Link your savings and checking account to avoid having an overdrawn account. You may receive a credit line of up to $1,000, and you can link your account and cover transactions made with insufficient funds.

Here are some of the best cash advance apps you can use to help:

  • Earnin – access your paycheck anytime with no fees! You can instantly get a cash advance of up to $100, with the funds going straight to your existing bank account. Build your account history and your limits can increase to up to $100 per day and $500 per pay period.
  • Dave – best for small advances as it lets you borrow money to cover expenses until you receive your next paycheck. It helps you avoid overdrawing your account.
  • Brigit – is great for budgeting tools as the free plan gives you tons of help with budgeting and other financial advice.
  • MoneyLion – Offers financial tracking, credit builder loan, mobile bank, and investment accounts. You can also take up to $250 in cash advances.

CLICK HERE FOR UP TO $2,500 IN MINUTES

Regions Bank offers many ways to protect you from overdrafting your account and makes it easy to withdraw money even if you forget your debit card at home. Always remember to budget your money well and use the apps above to manage your finances and prevent your account from going into an overdraft.

*Chime SpotMe eligibility requirements and overdraft limits: Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Spending Account each month. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member’s Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime’s discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. SpotMe won’t cover non-debit card transactions, including ACH transfers, Pay Friends transfers, or Chime Checkbook transactions. See Terms and Conditions.
Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.

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