“We really tried to eliminate some of the barriers that some consumers find when they’re trying to start saving. We’ve really tried to make it easy for people to save, and we also tried to provide some incentives for people, too,” Mitchell said.
The account has features such as monthly and annual savings bonus opportunities, no monthly fee, no minimum balance, free online statements and free online banking. It is available only to customers who have a Regions Now Card.
The Regions Now Savings account rewards prepaid card customers for saving. They are eligible to earn a 1 percent annual savings bonus based on a consistent monthly deposit of at least $5 to the account. There is a $100 maximum for the annual savings bonus.
The account also has a monthly builder bonus. Customers earn $1 each month when they make at least a $5 deposit to the account and have no withdrawals.
Regions Now Banking is available in all Regions Bank branch locations and the company’s online banking platform and ATM network.
$374 IN COUPONS
Today’s Augusta Chronicle has $374.03 in coupons. This includes $24 at Rite Aid, $33.35 in Red Plum, $260.39 in Smart Source, $20 at Toys R Us and $10 at Rack Room Shoes.
The Parade insert has two coupons for $2.50 off Cover Girl lip products. The coupons expire Aug. 31.
RISING BANK FEES
The latest Bank Fee Survey from MoneyRates.com, a personal finance Web site, has found that checking and ATM fees are rising. The semiannual study found that checking account and ATM fees increased in several ways during the first half of 2012.
The study also found that online banks and smaller banks are offering lower fees than traditional and larger banks in several key categories.
The Bank Fee Survey found that average monthly, ATM and overdraft fees all rose in the first half of 2012. The proportion of checking accounts with no monthly service fee fell by more than 3 percentage points to 35.3 percent.
Overdraft fees jumped for the second straight quarter to an average of $29.83, according to the study.
“Consumers need to be on the alert,” said Richard Barrington, senior financial analyst for MoneyRates.com, in a release. “This is the most comprehensive rising fee trend we’ve seen in one of our checking account surveys ... You need to watch for new fees popping up in your existing accounts.”
MoneyRates.com reports that consumers are more likely to find lower fees by choosing an online bank or a smaller bank with less than $5 billion in deposits.