Regions Bank Offers $125 Bonus for New Accounts

If you live in one of over 16 southern states and are in the market for a new bank account, you can earn a $125 bonus by signing up for Regions Bank's LifeGreen Checking account. As with nearly all bank promotions, there are a few requirements you must meet to get the bonus, but you have 60 days from the account opening to do so. You simply have to make 10 Visa CheckCard transactions and have payroll or government direct deposits totaling $500 or more within that two-month period. Banks' direct deposit requirements are a way to not only save on labor costs for tellers; it also encourages customers to stay with the bank longer since most people assume it a hassle to change direct deposits from bank to bank. While it's true that you will have to fill out paperwork to change or start a new direct deposit, it usually only takes less than 10 minutes to accomplish. Depending on the benefits of the bank account (and the bonus promotion), this can be time wisely spent.

Regions Banks are located in AL, AR, FL, GA, IA, IL, IN, KY, LA, MO, MS, NC, SC, TN, TX, and VA. To be eligible for this promotion, you cannot currently have a Regions checking account and you must make a $50 minimum initial deposit. A monthly fee may apply to your account but may be waived if certain criteria are met. For accounts opened in Iowa, this fee is subject to Iowa State Sales Tax of 6%.

Of course, monthly fees could negate any bonus you receive, so you want to make sure you can meet the requirements for a free account, whenever possible. The fee is waived for this LifeGreen checking account if you have a have at least one payroll or government direct deposit of at least $500 per statement cycle or maintain an average $1,500 monthly balance. Additionally, by having direct deposit, you are eligible free enrollment in the Regions Relationship Rewards Program , where you can earn points for every-day banking transactions like making an ATM deposit. You can then redeem your points for things like, cash, gift certificates and merchandise.

The bonus for the new account and the Regions Relationship Rewards program make this checking account one worth considering, if you live in one of the above-listed southern states. However, you must enter Promo Code 125 and sign up before September 30th, 2012 to get this deal.

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