Two prominent contenders in the banking industry, Chase and Regions Bank, offer a range of financial products and services.
In this article, we will conduct a thorough comparison of their savings accounts, checking accounts, CDs, credit cards, and lending products.
Checking Accounts
There is no clear winner when it comes to checking accounts, as both banks offer various checking options. Usually, Chase is our winner in this category, but Regions bank offers tailored options such as e-checking, students, and +62 accounts, making Regions a string competitor when it comes to checking options.
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Chase vs. Region: Account Types And Fees
Chase Bank offers a variety of checking account types to suit the diverse needs of its customers. One notable option is the Total Checking account, which provides access to a widespread network of ATMs and a range of digital banking tools.
For customers with a premium banking preference, Chase presents the Sapphire Checking account and private client checking, renowned for its exclusive benefits like enhanced travel rewards.
Account | Monthly Fee | Average Day Balance To Waive |
|---|---|---|
Chase Total Checking | $12 | $1,500 |
Chase Premier Plus Checking | $25 | $15,000 |
Chase Sapphire Checking | $25 | $75,000 |
Chase College Checking | $12 | $1,500 |
Chase Private Client Checking | $30 | $150,000 |
Chase Business Complete Banking | $15 | $2,000 |
Chase Performance Business Checking | $30 | $35,000 |
Chase Platinum Business Checking | $95 | $100,000 |
Regions Bank offers several checking account options, including the LifeGreen Checking and LifeGreen eAccess Account. Here are the accounts, their monthly fee and how you can waive it:
Account | Monthly Fee | Average Day Balance To Waive |
|---|---|---|
LifeGreen Checking | $8 | $1,500 |
LifeGreen Preferred Checking | $18 | $5,000 |
Regions Now Checking | $5 | Can't be waived |
LifeGreen eAccess Account | $8 | At least 10 Regions debit/credit card purchases |
62+ LifeGreen Checking | $8 | $1,500 |
LifeGreen® Checking for Students | $0 | Under age 25 |
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Chase vs. Region Checking Account Features
Chase provides checking accounts that come with a bunch of helpful features to meet different money needs. The Chase Everyday Accounts are easy to get started with since there's no need for a big initial deposit. Plus, with over 15,000 ATMs and 4,700 branches, it's super easy to access your money.
If you go for a Chase Premium Account, you get even more perks for a top-notch banking experience with the Chase Private account such as private banker and investments benefits.
Chase Bank Account | Main Features |
|---|---|
Chase Total Checking | Overdraft assist, chase credit journey, alerts |
Chase Premier Plus Checking | Interest on balance, free checks , free counter checks |
Chase Sapphire Checking | JPM wealth management, no ATM fees, no wire transfer |
Chase College Checking | No monthly fees, free credit score, new account promotion |
Chase Private Client Checking | Priority service, preferred rates, J.P. Morgan advisor |
Chase Business Complete Banking | Chase QuickAccept, fraud protection, chase business online |
Chase Performance Business Checking | No cost wires, unlimited electronic deposits, Chase business |
Chase Platinum Business Checking | No fee transactions, cash management support, platinum service |
Regions Bank offers a range of checking accounts tailored to diverse customer needs, each with distinct benefits.
The LifeGreen Checking account is the main basic account, offers features like online and mobile banking for convenient account management, customizable alerts to stay informed about transactions, and optional overdraft protection for added financial security.
Regions Bank's LifeGreen Preferred Checking account has mor premium features. This interest-earning account provides added financial benefits, including no Regions ATM fee on two ATM transactions at non-Regions ATMs per statement period.
Account | Main Features |
|---|---|
LifeGreen Checking | Alerts and notifications, mobile check deposit, Zelle, Visa debit card |
LifeGreen Preferred Checking | nterest-earning, free two ATM transactions at non-Regions ATMs |
Regions Now Checking | No overdraft fees, unlimited check writing, online bill pay |
LifeGreen eAccess Account | Alerts and notifications, mobile check deposit, Zelle, Visa debit card |
62+ LifeGreen Checking | Overdraft Protection, Alerts and notifications, mobile check deposit |
LifeGreen Checking for Students | Alerts and notifications, mobile check deposit, Zelle, Visa debit card |
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Savings Accounts
There is no clear winner when it comes to savings accounts, as both banks offer similar rates. And anyway, the rates are falling below the rates available with other savings accounts.
Region Bank provides a couple of savings account options, such as regular savings, LifeGreen savings, and savings for minors, but all of them offer quite low rates. It also offers a money market account, but unlike other banks – the rate is low also on that product.
Regions Bank Savings | Chase Premier Savings | |
|---|---|---|
Savings Rate | 0.01% | 0.01% |
Minimum Deposit | $50 | $25 |
Fees | $5
Can be waived if you maintain a minimum daily balance of $30
| $25 per month
Can be waived if you carry $300 account balance at the start of the month, $25+ autosave or linking a Chase checking account
|
Certificate Of Deposits (CDs)
When it comes to CDs, Regions Bank is our winner due to its better CD rates. Both Chase and Regions Bank offer higher rates only on specific CD terms, so customers have no options to combine short and long-term CD options or use strategies such as CD laddering.
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Chase Bank CD Rates
Chase offers two primary CD categories: Standard and Relationship. Individuals without a Chase checking account can opt for the Standard CD. On the other hand, those with an existing Chase checking account can link it to their CD account to unlock slightly higher APYs through Relationship CDs.
CD Term | APY | Early Withdrawal Penalty |
|---|---|---|
3 Months | 4.25% – 4.25% | 90 days of interest |
6 Months | 3.00% | 180 days of interest |
9 Months | 4.00% – 4.50% | 180 days of interest |
12 Months | 2.00% | 180 days of interest |
18 Months | 2.50%
| 180 days of interest |
24 Months | 2.50% | 365 days interest |
30 Months | 2.50% | 365 days interest |
36 Months | 2.50% | 365 days interest |
48 Months | 2.50% | 365 days interest |
60 Months | 2.50% | 365 days interest |
120 Months | 2.50% | 365 days interest |
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Regions CD Rates
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Credit Cards
Card | Rewards | Bonus | Annual Fee |
| Chase Sapphire Preferred® Card | 2X – 5X
5x total points on travel purchased through Chase Travel, 3x points on dining, online grocery purchases and select streaming services. 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases.
| 60,000 points
60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
| $95
|
|---|---|---|---|---|
 | Chase Freedom Flex℠ Card | 1-5%
5% cash back on up to $1,500 in combined purchases on selected categories each quarter and 5% cash back on travel purchased through Chase Ultimate Rewards®. Also, you can earn 3% cash back on dining at restaurants (including takeout and eligible delivery services), drugstore purchases , and 1% on all other purchases
| $200
$200 bonus after you spend $500 on purchases in the first 3 months from account opening
| $0 |
| Chase Freedom Unlimited® | 1.5% – 5%
5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases and 1.5% cash back on all purchases
| $200
Earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.
| $0 |
| Chase Sapphire Reserve® | 1X – 10X
5X total points on air travel and 10X total points on hotels, car rentals and dining when you purchase through Chase Ultimate Rewards®, immediately after earning your $300 annual travel credit. Also, earn 3x points on dining at restaurants and travel (after meeting the $300 travel credit), then 1x points per dollar spent on all other purchases. | 60,000 points
60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
| $550 |
| Marriott Bonvoy Boundless Card | 1x – 6X
6X points for every $1 spent at over 7,000 hotels participating in Marriott Bonvoy® with the Marriott Bonvoy Boundless® credit card. Plus, earn up to 10X points from Marriott for being a Marriott Bonvoy® member. Plus, earn up to 1X point from Marriott with Silver Elite Status. Earn 3X points for every $1 on the first $6,000 spent in combined purchases each year on grocery stores, gas stations, and dining. Earn 2X points for every $1 you spend on all other purchases.
| 3 Free Nights
3 Free Nights (each night valued up to 50,000 points) after you spend $3,000 on purchases in your first 3 months from your account opening
| $95 |
 | United Explorer Card | 1X – 2X
2x per $1 spent on United purchases, hotel accommodations, restaurants & eligible delivery services and 1x per $1 spent on all other purchases
| 50,000 miles
50,000 miles after you spend $3,000 on purchases in the first 3 months your account is open.
| $95 ($0 first year) |
Regions bank offers two rewards cards with different options to earn cashback: one card with a long 0% intro APR and a secured card for those who want to build credit.
Card | Rewards | Bonus | Annual Fee |
| Regions Cash Rewards Visa Credit Card
| 1.5%
1.5% cash rewards on every purchase | $200
$200 bonus Cash Rewards when you spend $1,000 in the first 90 days, or earn a $100 bonus when you spend $500 in the first 90 days | $0 |
|---|---|---|---|---|
| Regions Prestige Visa Signature Credit Card | 1% – 4%
4%/3% on dining & entertainment purchases, including fast food, 3%/2% on gas and grocery store purchases and 2%/1% on all other purchases. When you register for Rewards Multiplier, you can earn up to an extra 1% on every credit card purchase | $200
$200 bonus when you spend $1,000 in the first 90 days after account opening. If you spend at least $500 but not quite $1,000, you will earn a $100 bonus | $0 |
| Regions Life Visa Credit Card | N/A | N/A | $0 |
| Regions Explore Secured Visa Credit Card | N/A | N/A | $29 |
Mortgage And Loans
Regions bank offers better options for borrowers than Chase
Region Bank provides a comprehensive suite of lending options, covering mortgages, home equity, specialty mortgages, auto loans, personal loans, and even student loans.
In the realm of mortgages, customers can explore various options such as fixed-rate and adjustable-rate loans, FHA/VA/USDA loans, and specialty mortgages tailored for physicians or those seeking jumbo, renovation, construction, state bond, or employee relocation services.
Chase offers fewer options for borrowers as it mainly excels in mortgage and auto loans. Their mortgage options cater to homebuyers, offering various loan types, fixed or adjustable rates, and personalized advice.
Which Bank Is Our Winner?
Comparing Chase Bank and Regions: Our Methodology
In our detailed banking comparison, The Smart Investor team thoroughly looked in five main areas in both banks and compare them side by side:
Checking Accounts (30%): We checked things like direct deposit, debit card availability, monthly fees, ATM and branch access, check deposit, bill pay options, and account alerts. We also considered any special offers for customers.
Savings Accounts including CDs (20%): We focused on important stuff like how much interest you can earn (APY), the smallest amount you need to open an account, how flexible the accounts are, and if they're insured by FDIC. We also looked at special savings offers, different types of CDs, and any fees for taking money out early.
Credit Cards (15%): We looked at what rewards you get, how much the card costs each year, any bonuses you get for signing up, perks for traveling, how much interest you pay on balances, and if you can transfer balances from other cards.
Lending Options (15%): We checked out the different kinds of loans they offer, like personal loans, student loans, mortgages, and loans where you use your home as collateral.
Customer Experience And Bank Reputation (20%): We looked into how easy it is to use their online and mobile banking, how helpful their customer support is, what people say about them online, any awards they've won, and how stable they are financially. This gave us a good idea of what it's like to be a customer and how much people trust them.
Compare Chase Versus Alternative Banks
Although Chase Bank has a modern, trendy image, it is one of the oldest banks in the United States. JP Morgan Chase's consumer division, Chase Bank, is one of the largest banks in the United States. Even though its interest rates aren't particularly competitive when compared to online banks and credit unions, loyal Chase customers who keep a significant amount of money with the bank can earn slightly better rates.
American Express is best known for its credit card business. The financial services firm, on the other hand, has a banking subsidiary that offers high-yield savings and CD accounts. For those looking to save money with a well-known financial institution, the American Express High Yield Savings Account is a popular option.
Read Full Comparison: American Express vs Chase Bank
Chase and Wells Fargo appear to offer very similar products at first glance, so we need to dig a little deeper. There is little to distinguish the savings accounts, and both banks provide a variety of checking accounts.
While Chase's account maintenance fee is slightly higher, it does have some more interesting features. Chase also has an advantage in terms of CDs, but Wells Fargo is a better option for loans and mortgages.
Read Full Comparison: Chase vs Wells Fargo: Where to Save Your Money?
The Chase and Citi checking accounts both have no minimum deposit and a monthly account maintenance fee of $12. This can also be waived with a balance of $1,500 or more, or with qualifying deposits.
Furthermore, both have a very impressive selection of more than credit card options.
Read Full Comparison: Chase vs Citi: Which Bank Account Wins?
The Discover checking account is more traditional. While the account does not pay interest, you can earn 1% cash back on debit card purchases. There are also no fees if you require a replacement debit card, have a deposit item returned, or have insufficient funds in your account.
Chase offers a wide range of banking products, including savings accounts, checking accounts, home loans, home equity options, auto loans, and a wide range of credit cards. In addition, Chase's customer service system is quite extensive.
Read Full Comparison: Discover vs Chase: Which Bank Account Suits You Best?
Chase has some great features including a massive selection of credit card options. Both banks also offer some great mortgage packages. PNC also has some innovative credit card options, and you can also access personal loans.
Read Full Comparison: Chase vs PNC Bank: Which Bank Account Is Better?
Because both Chase and TD Bank provide a comprehensive range of products, we'll need to summarize the benefits and drawbacks to determine which bank is superior.
Chase offers some novel features, including the possibility of comparable CD rates without the TD Bank's minimum deposit. However, there is little to distinguish the checking accounts, as TD Bank's savings rate is twice that of Chase.
Although Chase has more credit card options, don't discount TD Bank, which has some interesting options.
Read Full Comparison: Chase vs TD Bank: Which Bank Suits You Best?
Chase and Capital One both have banking product lines that compete with traditional high street banks.
Capital One also has a competitive advantage in terms of checking accounts. The Capital One checking account is not only fee-free, but you can also earn interest on your account balance. Chase's checking account does not pay interest, and you must meet certain requirements to have the $12 monthly fee waived.
However, when you open a qualifying account, Chase will give you a welcome bonus, and its checking account has some nice features such as paperless statements for up to seven years and checking account upgrade options.
Read Full Comparison: Chase vs Capital One: Compare Banking Options
Both banks have account maintenance fees that can be waived by meeting one of several requirements. The rates are also quite similar, so which bank is best will come down to what products you’re looking for.
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