Banking » Compare Banks » Truist Bank vs. Regions Bank: Which Bank Account Is Better?
Advertiser Disclosure This website is an independent, advertising-supported comparison service. The product offers that appear on this site are from companies from which this website receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This website does not include all card companies or all card offers available in the marketplace. This website may use other proprietary factors to impact card offer listings on the website such as consumer selection or the likelihood of the applicant’s credit approval. This allows us to maintain a full-time, editorial staff and work with finance experts you know and trust. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impacts any of the editorial content on The Smart Investor. While we work hard to provide accurate and up to date information that we think you will find relevant, The Smart Investor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. Learn more about how we review products and read our advertiser disclosure for how we make money. All products are presented without warranty.

Truist Bank vs. Regions Bank: Which Bank Account Is Better?

There is no clear-cut answer to which bank is better, but Regions Bank is better than Truist if we have to choose one. Here's why:
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: June 3, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: June 3, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

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

Simply put, Regions Bank takes the lead in checking accounts. With specialized options like e-checking, student accounts, and +62 accounts, Regions stands out as a more appealing choice for a variety of customers looking for checking account options.

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

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
Top Offers From Our Partners

PNC bank logo

Promotion:
Up to $400 Open a new, select Virtual Wallet product and receive $500/$2,000/$5,000 or more in qualifying monthly direct deposits within 60 days to earn a $100/$200/$400 bonus.
Subject to state availability
PNC Virtual Wallet ® is available in AL, AZ, CA, CO, DC, DE, FL, GA, IL, IN, KY, MD, MI, NC, NJ, NY, NM, OH, PA, SC, TX, VA, WI, and WV. Virtual Wallet ® is offered in the state of MO with the exception of the Greater Kansas City area. Product availability may vary based on where you open your account and the Zip code of your primary address.

Chase_logo

Promotion:
$300 New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account and make direct deposits totaling $500 or more within 90 days of coupon enrollment.. Expired on 10/16/2024
Chase Overdraft Assist
With Chase Overdraft AssistSM, you won’t be charged an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day

UpgradeLogo

Fees:
No monthly fees No monthly fees and no overdraft fees. Plus get reimbursed for ATM fees with an active account 
Rewards:
Up to 2% cash back Up to 2% cash back on common everyday expenses for active accounts with monthly $1,000 direct deposit, and up to 1% cash back for other purchases 
Promotion:
$500 Use Promo Code “RC500” for a $500 bonus when you apply for a Rewards Checking account
Up to 3.30% APY
to get the maximum rate (up to $50,000) you'll need monthly direct deposits of $1,500 (0.40% APY), 10 transaction on your debit card (+0.30% APY), average daily balance of $2,500 on Axos Invest Managed Portfolio (+1.00% APY), average daily balance of $2,500 on Axos Invest Self Directed Trading Account(+1.00% APY) and make full monthly payment on loans (mortgage, personal and auto) with Axos account (+0.60% APY).

Promotion:
Up to $2,500 You could earn $1,500 or $2,500 if you open a new, eligible HSBC Premier checking account from July 1, 2024 through November 22, 2024, and complete qualifying activities: • Get a $1,500 Cash Bonus: Add New Money of $100,000 to $249,999 in deposit and/or eligible investment accounts within 20 days of opening your new checking account and maintain the Qualifying Balance for 3 full consecutive months. • Get a $2,500 Cash Bonus: Add New Money of $250,000+ in deposit and/or eligible investment accounts within 20 days of opening your new checking account and maintain the Qualifying Balance for 3 full consecutive months. – Cash Bonus will be deposited into your new checking account within 8 weeks of meeting all the offer requirements
Wealth Products & Advice
Get access to wealth products, insights and advice from an HSBC Financial Professional through HSBC Securities (USA) Inc

fifth-third-bank-logo

Promotion:
$200 $200 cash bonus if you make direct deposits totaling $2000 or more within 90 days of account opening.
No Minimum Deposit
Free checking account, no minimum balance, check writing, two days early paycheck
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

PNC bank logo

Promotion:
Up to $400 Open a new, select Virtual Wallet product and receive $500/$2,000/$5,000 or more in qualifying monthly direct deposits within 60 days to earn a $100/$200/$400 bonus.
Subject to state availability
PNC Virtual Wallet ® is available in AL, AZ, CA, CO, DC, DE, FL, GA, IL, IN, KY, MD, MI, NC, NJ, NY, NM, OH, PA, SC, TX, VA, WI, and WV. Virtual Wallet ® is offered in the state of MO with the exception of the Greater Kansas City area. Product availability may vary based on where you open your account and the Zip code of your primary address.

Chase_logo

Promotion:
$300 New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account and make direct deposits totaling $500 or more within 90 days of coupon enrollment.. Expired on 10/16/2024
Chase Overdraft Assist
With Chase Overdraft AssistSM, you won’t be charged an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day

UpgradeLogo

Fees:
No monthly fees No monthly fees and no overdraft fees. Plus get reimbursed for ATM fees with an active account 
Rewards:
Up to 2% cash back Up to 2% cash back on common everyday expenses for active accounts with monthly $1,000 direct deposit, and up to 1% cash back for other purchases 
Promotion:
$500 Use Promo Code “RC500” for a $500 bonus when you apply for a Rewards Checking account
Up to 3.30% APY
to get the maximum rate (up to $50,000) you'll need monthly direct deposits of $1,500 (0.40% APY), 10 transaction on your debit card (+0.30% APY), average daily balance of $2,500 on Axos Invest Managed Portfolio (+1.00% APY), average daily balance of $2,500 on Axos Invest Self Directed Trading Account(+1.00% APY) and make full monthly payment on loans (mortgage, personal and auto) with Axos account (+0.60% APY).

Promotion:
Up to $2,500 You could earn $1,500 or $2,500 if you open a new, eligible HSBC Premier checking account from July 1, 2024 through November 22, 2024, and complete qualifying activities: • Get a $1,500 Cash Bonus: Add New Money of $100,000 to $249,999 in deposit and/or eligible investment accounts within 20 days of opening your new checking account and maintain the Qualifying Balance for 3 full consecutive months. • Get a $2,500 Cash Bonus: Add New Money of $250,000+ in deposit and/or eligible investment accounts within 20 days of opening your new checking account and maintain the Qualifying Balance for 3 full consecutive months. – Cash Bonus will be deposited into your new checking account within 8 weeks of meeting all the offer requirements
Wealth Products & Advice
Get access to wealth products, insights and advice from an HSBC Financial Professional through HSBC Securities (USA) Inc

fifth-third-bank-logo

Promotion:
$200 $200 cash bonus if you make direct deposits totaling $2000 or more within 90 days of account opening.
No Minimum Deposit
Free checking account, no minimum balance, check writing, two days early paycheck
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

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.

Regions CD Rates
8 Month
4.50%
14 Month
4.00%
26 Month
4.50%
Top Offers From Our Partners

UpgradeLogo

Savings Rate: 5.21% APY
CIT-Bank-Logo
Savings Rate: Up to 5.00% APY

live-oak-bank-logo

Savings Rate: 4.40% APY
Quontic bank logo
Savings Rate: 4.50% APY

valley direct logo

Savings Rate: 4.75% APY APY

consumers credit union logo

CD Rate: 5.00% – 5.20% APY
Advertiser Disclosure
We get compensated for these product offers

Top Savings Accounts From Our Partners

Chime Banking App

  • 2.00% APY on Chime Savings 
  • Build Credit History
  • No Monthly Fees

Quontic High Yield Savings

  • 4.50% APY on savings
  • Interest is compounded daily
  • No Monthly Service Fees

CIT Savings Connect 

  • Up to 5.00% APY on savings
  • No monthly service fees.
  • Zelle, Samsung & Apple Pay

Advertiser Disclosure

The product offers that appear on this site are from companies from which this website receives compensation. 

Top Offers From Our Partners

UpgradeLogo

Savings Rate: 5.21% APY
CIT-Bank-Logo
Savings Rate: Up to 5.00% APY
Quontic bank logo
Savings Rate: 4.50% APY

valley direct logo

Savings Rate: 4.75% APY

consumers credit union logo

CD Rate: 5.00% – 5.20% APY
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

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 Secured credit card

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

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

Truist Future credit card
N/A
0% Intro APR 15 months on balance transfers and purchases
$0

Truist Enjoy Beyond credit card

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

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

Cash Rewards Visa® Credit Card

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

Prestige Visa® Signature Credit Card

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

Life Visa® Credit Card

Regions Life Visa Credit Card
N/A
N/A
$0

Explore secure Visa® Credit Card

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:

  1. 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.

  2. 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.

  3. 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.

  4. 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.

  5. 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

While Truist is a full-service bank where you can find almost any financial product, Chase is our winner. Here's why – and what else to know: Chase vs. Truist Bank

There is no clear winner as to whether Truist Bank or Bank of America is a better choice, but we prefer the latter. Here's why.

Truist Bank vs. Bank Of America

Wells Fargo offers better savings rates than Truist Bank, more selection for checking accounts and better credit cards. Here's our comparison: Truist Bank vs. Wells Fargo Bank

 

Citibank is our winner due to its checking account options, various credit cards, and better savings account rates than Truist Bank.

Truist Bank vs. Citibank

Overall, we like Fifth Third a bit more than Truist bank, mainly due to the various checking options. Truist is better in credit cards.

Truist Bank vs. Fifth Third Bank

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

Picture of Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Search
Banking Reviews
Best Banking Accounts
Savings Accounts
Top Offers From Our Partners

PNC bank logo

Promotion:
Up to $400 Open a new, select Virtual Wallet product and receive $500/$2,000/$5,000 or more in qualifying monthly direct deposits within 60 days to earn a $100/$200/$400 bonus.
Subject to state availability
PNC Virtual Wallet ® is available in AL, AZ, CA, CO, DC, DE, FL, GA, IL, IN, KY, MD, MI, NC, NJ, NY, NM, OH, PA, SC, TX, VA, WI, and WV. Virtual Wallet ® is offered in the state of MO with the exception of the Greater Kansas City area. Product availability may vary based on where you open your account and the Zip code of your primary address.

Chase_logo

Promotion:
$300 New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account and make direct deposits totaling $500 or more within 90 days of coupon enrollment.. Expired on 10/16/2024
Chase Overdraft Assist
With Chase Overdraft AssistSM, you won’t be charged an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day

fifth-third-bank-logo

Promotion:
$200 $200 cash bonus if you make direct deposits totaling $2000 or more within 90 days of account opening.
No Minimum Deposit
Free checking account, no minimum balance, check writing, two days early paycheck

UpgradeLogo

Fees:
No monthly fees No monthly fees and no overdraft fees. Plus get reimbursed for ATM fees with an active account 
Rewards:
Up to 2% cash back Up to 2% cash back on common everyday expenses for active accounts with monthly $1,000 direct deposit, and up to 1% cash back for other purchases 

Promotion:
$500 Use Promo Code “RC500” for a $500 bonus when you apply for a Rewards Checking account
Up to 3.30% APY
to get the maximum rate (up to $50,000) you’ll need monthly direct deposits of $1,500 (0.40% APY), 10 transaction on your debit card (+0.30% APY), average daily balance of $2,500 on Axos Invest Managed Portfolio (+1.00% APY), average daily balance of $2,500 on Axos Invest Self Directed Trading Account(+1.00% APY) and make full monthly payment on loans (mortgage, personal and auto) with Axos account (+0.60% APY).

penfed personal loan

APY on Daily Balances
0.15% APY on daily balances of less than $20,000 or 0.35% APY on daily balances of $20,000 up to $50,000
Get paid up to 2 days early
Set up direct deposits and get your paycheck up to 2 days early

Promotion:
Up to $2,500 You could earn $1,500 or $2,500 if you open a new, eligible HSBC Premier checking account from July 1, 2024 through November 22, 2024, and complete qualifying activities: • Get a $1,500 Cash Bonus: Add New Money of $100,000 to $249,999 in deposit and/or eligible investment accounts within 20 days of opening your new checking account and maintain the Qualifying Balance for 3 full consecutive months. • Get a $2,500 Cash Bonus: Add New Money of $250,000+ in deposit and/or eligible investment accounts within 20 days of opening your new checking account and maintain the Qualifying Balance for 3 full consecutive months. – Cash Bonus will be deposited into your new checking account within 8 weeks of meeting all the offer requirements
Wealth Products & Advice
Get access to wealth products, insights and advice from an HSBC Financial Professional through HSBC Securities (USA) Inc
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

#1 In Banking

Our Newsletter

Get expert advice, insider tips, fresh banking promotions and rate changes on savings accounts and CDs

Banking Promotions & Latest Rate Updates

Our Banking Newsletter

Sign up for our newsletter and gain access to expert advice,
insider knowledge, and exclusive updates

Sign Up for

Our Newsletter

Join our community for the latest attractive savings rate changes ,expert insights, and member-only perks