Both Truist and Regions Bank are active in a variety of states such as Florida, Georgia, Atalanta, Tennesee, Kentucky, and more. Let's compare their banking products side by side:
Checking Accounts
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Account Types And Fees
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 |
Truist bank offers personal checking accounts with many features and easily waived monthly fees. However, there is no wide selection of accounts as you have with Regions Bank:
Truist Bank Account | Monthly Fee | Average Day Balance To Waive |
|---|---|---|
Truist One Checking account | $12 | $500 |
Truist Confidence Account | $5 | $500 |
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Account Features
Truist offers two checking account options: the basic one is the Truist Confidence Account, which includes features like mobile bill pay, no overdraft fees, and no check cashing fees, and the Truist One Checking account, a regular checking option.
The Truist One Checking provides benefits such as a loyalty bonus on Truist credit cards, a free first order of 10-pack checks, loyalty bonuses, and more perks.
Truist Bank Account | Main Features |
|---|---|
Truist One Checking account | Loyalty Bonus on Truist credit cards, free first order 10-pack checks |
Truist Confidence Account | Mobile bill pay, no overdraft fees, no check cashing fees |
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
Neither bank wins when it comes to savings accounts, as both banks offer poor rates on their savings accounts and also on their money market accounts.
Region Bank offers some savings account options, such as regular savings, LifeGreen savings, and savings for minors, but all offer low rates.
Truist and Regions banks offer a money market account, but unlike other banks – the rate is low on that product.
Regions Bank Savings | Truist Bank Savings | |
|---|---|---|
Savings Rate | 0.01% | 0.01% |
Minimum Deposit | $50 | $50 |
Fees | $5
Can be waived if you maintain a minimum daily balance of $30
| $5
The monthly maintenance fee can be waived by maintain a minimum daily ledger balance of $300 OR
schedule a recurring preauthorized internal transfer of $25 or more per statement cycle into the Truist One Savings account OR
waived for a minor under the age of 18 OR
waived with ANY related Truist checking product
|
Certificate Of Deposits (CDs)
When it comes to CDs, Regions is our winner.
However, Regions and Truist banks offer high rates only on specific promotional terms. While Regions Bank CD rates are competitive compared to other brick-and-mortar banks, Truist Bank doesn't publish its CD rates on its website, so comparing apples to apples is difficult.
Also, customers can only open Truist and Regions CD accounts in person at a branch, not online.
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Regions Bank CD Rates
Regions CD Rates | |
|---|---|
8 Month | 4.50% |
14 Month | 4.00% |
26 Month | 4.50% |
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Credit Cards
When it comes to credit cards, Truist Bank is our winner due to a bit better credit card features and more options for customers than Regions Bank.
The Truist Enjoy Cash is best for those who want to earn cashback, while travelers may prefer the Truist Enjoy Travel which offers a higher point rewards ratio on travel categories. The Truist Enjoy Beyond offers even more travel benefits.
For those who don't have good credit, the Truist Future card can help those who need 0% intro APR, and there is also a secured card, with a modest annual fee.
Card | Rewards | Bonus | Annual Fee |
| Truist Enjoy Cash credit card | 1% – 3%
3% cash back on gas and EV charging, 2% on utilities and groceries (up to the $1,000 monthly spend cap) and 1% on all other eligible purchases
OR 1.5% cash back on all eligible purchases | 0% Intro APR 12 months on purchases | $0 |
|---|---|---|---|---|
| Truist Enjoy Travel credit card | 1x – 2x
2x miles per $1 spent on airfare, hotels, and car rentals, 1x on all other eligible purchases | 20,000 miles
20,000 bonus miles when you spend $1,500 in first 90 days after account opening | $0 |
| Truist Future credit card | N/A | 0% Intro APR 15 months on balance transfers and purchases | $0 |
| Truist Enjoy Beyond credit card | 1x – 3x
3x points per $1 spent on airfare, hotels, and car rentals, 2x on dining and 1x on all other eligible purchases | 30,000 points
30,000 bonus points when you spend $1,500 in first 90 days after account opening | $195 |
| Truist Enjoy Cash Secured credit card | 1% – 3%
3% cash back on gas, 2% on utilities and groceries (up to the $1,000 monthly spend cap) and 1% on all other eligible purchase | N/A | $19 |
Regions Bank provides two cashback rewards cards. In addition, there is a lengthy 0% intro APR card and a secured card designed for building credit.
The Regions Prestige Visa Signature card offers higher cash back on everyday categories such as groceries, gas and dining and customers can get an increase of 1% if they register to Regions Rewards Multiplier Program.
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 Truist Bank.
Region Bank provides a comprehensive suite of lending options, covering mortgages, home equity, specialty mortgages, home equity loans, HELOC, auto loans, personal loans, and even student loans.
On the other hand, Truist has fewer loan options, including mortgages, mortgage refinancing, and home equity loans. They also offer personal loans, auto purchase loans, and auto refinancing.
Which Bank Is Our Winner?
There is no clear-cut answer to which bank is better, but if we have to choose one, Regions Bank is our top pick.
Regions Bank offers better options when it comes to the most important factor – checking accounts. On the other hand, Truist wins when it comes to credit cards.
Lastly, don't forget to consider different factors that matter to you, like banking services, help with overdrafts, how often you use ATMs, and how close the bank is to where you live. Everyone's needs are different, so weigh the factors that matter most to you.
Our Methodology: Breaking Down Bank Comparisons
In our thorough banking comparison, The Smart Investor team carefully reviewed and compared banks across five key categories:
Checking Accounts (30%): We examined features 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 available to customers.
Savings Accounts and CDs (20%): Our focus was on important factors such as the Annual Percentage Yield (APY), minimum deposit requirements, account flexibility, FDIC insurance coverage, special savings offers, variety of CDs, automatic renewal options, and early withdrawal penalties.
Credit Cards (15%): We analyzed rewards programs, annual fees, introductory bonuses, travel benefits, APR, and balance transfer options offered by each bank's credit cards to provide a comprehensive comparison of available features.
Lending Options (15%): We assessed the variety of loan options provided, including personal loans, student loans, mortgages, secured loans, HELOCs, and Home Equity Loans, offering insights into the banks' lending capabilities.
Customer Experience and Bank Reputation (20%): Our evaluation included an analysis of online banking and mobile app usability and ratings, accessibility of customer support, online reviews, JD Power research, Trustpilot ratings, and overall financial stability, providing a holistic view of customer experience and reputation.
Compare Truist Versus Other Banks
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Citibank is our winner due to its checking account options, various credit cards, and better savings account rates than Truist Bank.
Overall, we like Fifth Third a bit more than Truist bank, mainly due to the various checking options. Truist is better in credit cards.
Each bank excels in different categories, but our winner is M&T Bank over Truist. There are some reasons for that, here's our comparison: Truist Bank vs. M&T Bank
Our winner is PNC Bank as it offers more options for checking and higher savings rates than Truist bank. Here's our comparison: Truist Bank vs. PNC Bank
Both Truist and TD Bank are active in a variety of states, such as Florida, Georgia, North And South Carolina, and more. Here's our winner: Truist Bank vs. TD Bank
Our preferred choice is American Express, which provides a comprehensive banking package that outshines Truist Bank. Here's how they compare: Truist Bank vs. American Express Bank
