Summary: Banks generally don’t offer crypto trading as part of their platform due to the regulations and complexities that come with setting up a cryptocurrency trading platform. However, that doesn’t mean you can’t use your Regions Bank account to buy crypto.
All you need is a reliable and trusted crypto exchange. We recommend using eToro as it’s a very well-known exchange (rated 4.2/5 with over 15000 reviews) with a good amount of cryptocurrencies to choose from and great support.
How to buy crypto or bitcoin with Regions Bank
As stated above, just like with the vast majority of banks, you can’t buy crypto with Regions Bank on their platform. At the time of writing, banks aren’t implementing crypto trading platforms yet, seemingly because of the extra regulations they need to adhere to, in addition to other complexities when it comes to setting up a cryptocurrency trading platform.
However, luckily for us, there are plenty of crypto exchanges to choose from that you can use to buy bitcoin or any other cryptocurrency you might want.
1. Choose a crypto exchange
While there are a lot of crypto exchanges, it can get a bit tricky comparing them all as they all offer very similar features. The differentiating factors are mainly fees, the amount of digital assets to choose from, and any special features that the other exchanges don’t have.
The reason we recommend going with eToro is that they have a great combo of global reach (a lot of exchanges only work within specific GEOs), competitive fees, and a few very neat features (like “Copy Trading”, which allows you to copy the trades of other investors on the platform).
Let’s get into it!
2. Create an account on the exchange
The first thing to do is to create an account on the exchange and go through the required verification processes, which should go very smoothly as they’ve got it all streamlined.
3. Transfer funds into the account
Transferring funds from your Regions Bank account is also pretty easy as eToro supports bank transfer, PayPal, credit/debit card, and a few more deposit methods.
4. Buy crypto
Once the funds are in the account, you can navigate to their markets section, choose your cryptocurrency and hit the buy/trade button.
And that’s it, you now have some crypto, congratulations!
About Regions Bank
Regions Bank enjoys a strong reputation in its South and Midwest areas. It is known for its strong relationships and exceptional customer service. But it also offers many flexible accounts to suit different types of people. For more information, please read the full Regions Bank review.
Regions Bank currently offers four savings account.
Regions LifeGreen (r) Savings is a free checking account with no minimum balance. It has a low annual percentage yield (APY), which is common for brick-and-mortar bank accounts. Customers who create automated savings transfers can enjoy an annual savings bonus.
Regions Savings has a low APY and waived monthly fees. Its only benefit is the discount on safe deposit boxes. If you don't like that, you can always go with another account or a different bank.
The Regions Savings for Minors account has many similarities to the Regions LifeGreen (r) Savings account for adult. However, it is geared towards children younger than 18. The account does not have a minimum balance requirement or monthly maintenance fee. However, you must open it with at least $5.
Regions Now Visa card holders are required to have a Regions Now Savings account. Regions Bank has this account for you if you already have one or would like to open one. You don't have to pay a monthly maintenance fee or maintain a certain balance. Although the APY is not high, there are monthly bonuses for savings and monthly builders.
One of these accounts could be the right fit for you if you are looking for a savings account with a more competitive annual percentage.