MoneyTransfers
/Reviews/Regions Bank for International Transfers

Regions Bank International Transfer: Exchange Rates, Fees, and Transfer Times

Regions Bank comes with hefty fees and long waiting times.

Regions Bank charges a flat fee of $45 per international transfer, a $18 receiving fee, and adds a 5% - 7% exchange rate markup.

This means a transfer of $1000 to the UK would cost you $105.00 vs $10.79 with a money transfer provider such as Wise.

You can send money abroad with Regions Bank, but it would be cheaper and quicker to use your account to deposit money into Wise account and send from there.

April Summers
Author 
April Summers
Artiom Pucinskij
Editor 
Artiom Pucinskij
46 minutes
September 19th, 2024
Visit this site
Expert Rating
3/10

Regions Bank for international wire transfers

We’ve compared the fees and exchange rates between Regions Bank and an average money transfer provider.

Transfer type

Regions Bank

Money Transfer Companies

Sending fees

$45

$0 - $20

Receiving fees

$18

$0

Exchange Markup

5% - 7%

0% - 2%

Transfer Times

3-5 business days

Instant - 3 business days

Payment Methods

  • International wire transfer

  • Domestic Zelle transfers

  • ACH transfers

  • Money orders

  • Checks

  • Debit card transfers

  • International transfer via Western Union

  • ACH transfer

  • Credit/debit card

  • International and domestic wire transfer

  • Cash pick-up

Compare now to get the best transfer rate
You can send money using your Nave Federal account through a money transfer provider to save on fees. Fill in the form to get the most out of your transfer.
Send
RATING BREAKDOWN

Scoring Regions Bank

We’ve looked at and analyzed the exchange rates, transfer costs, support, and online user reviews. Here’s a quick summary of the top highlights and drawbacks.

Pros
  • Domestic and international cash transfer options
  • Sophisticated, bank-level security using out-of-band authentication (OOBA)
  • Commercial customers can deposit foreign currency to their Regions multi-currency account
  • Commercial customers can obtain real-time currency exchange rates when purchasing or selling foreign currency, through RegionsFX Online
Cons
  • Complicated and varied fee structure
  • Available to US-based customers only
  • Substantial exchange rate margins (also known as mark-ups) and transfer fees applied to each foreign currency transfer
COST

Regions Bank fees and exchange rates

There are two main costs to consider when making an international bank transfer:

  • Exchange rate margins

  • International bank transfer fees

Exchange rates

Most banks charge an exchange rate margin for converting foreign currencies as part of an international money transfer for their customers; this is referred to as a mark-up.

Banks tend to add a markup of 4 - 6% on top of the actual mid-market rate and the Regions Bank’s markup is no different.

The exact markup on exchange rates for foreign currency will depend on factors such as currency pairing, transfer amount, and delivery method.

On average, you can expect to pay an additional 5% - 7% on top of the ‘real’ mid-market rate with Regions Bank.

Can you exchange money for what it’s actually worth?

You can get the right value for your exchange if you use a provider that offers the mid-market rate on exchanges.

Online money transfer providers like Wise, Revolut, and Instarem all make exchanges using the mid-market rate, but there’s a small fee for your transfer.

In addition, we’ve looked at what Regions Bank customers have to say about the bank's exchange rates. In summary, this is what it looks like.

Average online reviews for Regions Bank vs Wise exchange rates. 0s represent no reviews for the given period.
Average online reviews for Regions Bank vs Wise exchange rates. 0s represent no reviews for the given period.

International transfer fees

Apart from Regions Bank exchange rate margins, there are international fees to consider.

Regions Bank charges the following fees for international transfers between banks:

  • Incoming transfers: $18 per transfer (money you receive)

  • Outgoing transfers: $45 per transfer (money you send)

This is generally on par with other major US high street banks but is significantly more expensive than using a money transfer provider.

However, Regions Bank is partnered with Western Union to provide a cheaper alternative to international transfers abroad.

The following fees are charged for international transfers sent through the bank’s partnership with Western Union:

  • Sending up to $50: $5 fee

  • Sending $51 to $300: $8 fee

  • Sending $300 to $500: $10 fee

  • Sending $500 to $1,000: $12 fee

  • Sending over $1,000: 1% of the transfer amount

You can use the service to transfer money abroad to anyone or pay your bills abroad. Either way, it’s nice to see that high street banks are offering cheaper solutions to remittance.

To give you an idea of what these numbers actually mean, this is how Regions Bank compares to Truist Bank and Wise.

Let’s assume you’re making a $1000 transfer from the US to a bank via wire transfer to an account in the following countries:

Country

Regions Bank bank wire transfer

Truist Bank wire transfer

Wise money transfer

The UK (GBP)

$45 + ~6% markup

$65 + ~3% markup

$10.79 + 0% markup

Mexico (MXN)

$45 + ~6% markup

$65 + ~3% markup

$13.16 + 0% markup

France (EUR)

$45 + ~6% markup

$65 + ~3% markup

$10.36 + 0% markup

Here’s how users have rated the bank’s fees on average.

Average online reviews for Regions Bank vs Wise transfer fees. 0s represent no reviews for the given period.
Average online reviews for Regions Bank vs Wise transfer fees. 0s represent no reviews for the given period.
SPEED

Transfer speed

The international transfer speed is determined by the currency pair, transfer amount, destination country, and receiving bank.

When it comes to Regions Bank, you have a few delivery options that will directly impact the cost and the transfer speed.

For example, using a next-day service will cost you more compared to a standard wire transfer which can take up to 3-5 days.

In terms of speed, we’ve looked at what customers are saying online. Here’s what it looks like for the past 12 months.

Average online reviews for Regions Bank vs Wise transfer speed. 0s represent no reviews for the given period.
Average online reviews for Regions Bank vs Wise transfer speed. 0s represent no reviews for the given period.
LIMITS

Transfer limits

Transfer limits are calculated on a case-by-case basis, depending on the total amount being sent or received.

For wire transfers, there is a $100,000 limit per transaction and a $500,000 limit in aggregate transactions per month.

The same limits apply to ACH transfers.

You can view the limit for each international transfer through the Online Banking account.

BEWARE OF RECEIVING LIMITS

Regions Bank advises customers to check if any external restrictions may apply to intermediary or receiving banks involved with the transfer.

This simply means that the receiver bank may have limits in place, so you should check with them to make sure the amount can be received with no issues.

Here’s how users have rated Regions Bank’s transfer limits in the past year.

Average online reviews for Regions Bank vs Wise transfer limits. 0s represent no reviews for the given period.
Average online reviews for Regions Bank vs Wise transfer limits. 0s represent no reviews for the given period.
PRODUCT

Product offering

Mobile app

The Regions Bank Mobile app is free for download on iOS or Android devices.

The Regions Bank app is rated fairly low compared to other money transfer apps.

It has a rating of 4.8 on the App Store and a pretty low score of 2.7 on the Google Play Store.

Foreign currency exchange

Regions Bank offers foreign currency exchange services for international money transfers.

However, Regions Bank does not disclose any available currencies, it simply states they have the service.

The exchange service is offered by RegionsFX service, which is aimed at commercial clients and business transfers.

For consumer services, Regions Bank is partnered with Western Union to make international transfers more affordable.

Regions NOW Banking

Regions NOW Banking is a suite of financial services offered by Regions Bank that is designed to provide banking options for those without access to traditional banking services.

It includes various features and services tailored to meet the needs of the underbanked and unbanked.

Here are a few examples of services offered by Regions NOW Banking:

  • Check cashing: Allows you to cash checks without needing a Regions checking or savings account. However, these come with separate fees.

  • Western Union® money transfer: Provides domestic and international money transfer services through Western Union. This service allows you to send and receive money quickly, even without a traditional bank account.

  • Money orders: This enables you to purchase money orders, which can be used for bill payments or other transactions where cash or checks are not suitable.

  • Regions Now Card: A reloadable Visa prepaid card that you can use for everyday purchases, ATM withdrawals, and online transactions. The card can be reloaded through various methods, including direct deposit and at Regions branches.

  • Online and mobile banking: Offers digital banking services, allowing you to manage your accounts, transfer funds, pay bills, and more using Regions' online banking platform or mobile app.

  • Bill pay: Allows you to pay bills electronically, either as one-time payments or set up recurring payments, providing a convenient way to manage monthly expenses.

  • Savings programs: Includes options to open savings accounts tailored for you if you are looking to build savings with lower fees and minimum balance requirements.

These services are designed to provide flexible and accessible financial solutions, especially for those who may face barriers to traditional banking.

Here’s how users have rated Regions Bank’s features in the past year.

Average online reviews for Regions Bank vs Wise product features. 0s represent no reviews for the given period.
Average online reviews for Regions Bank vs Wise product features. 0s represent no reviews for the given period.
USABILITY

Ease of use

Convenience and ease of use is one of the key factors to consider when picking a bank. Here’s how users have rated Regions Bank’s usability in the past year.

Average online reviews for Regions Bank vs Wise usability. 0s represent no reviews for the given period.
Average online reviews for Regions Bank vs Wise usability. 0s represent no reviews for the given period.

Customer service

Regions Bank offers a wide range of support options to its customers:

  • Customer service center: General inquiries and support can be addressed by calling 1-800-734-4667.

  • Online banking support: For assistance with online banking, customers can call 1-800-472-2265.

  • Card customer service: For help with credit, debit, and prepaid cards, customers can call 1-800-253-2265.

  • Loan customer service: For questions regarding loans, the dedicated line is 1-800-231-7493.

  • Mortgage customer service: For mortgage-related support, customers can call 1-800-986-2462.

  • Report fraud: To report fraud or suspicious activity, customers can call 1-800-734-4667.

  • International customer service: For international support, customers can call 1-800-458-5890.

  • Hearing impaired support: TDD/TTY service is available at 1-800-374-5791.

  • Lost or stolen card: To report a lost or stolen card, customers can call 1-800-734-4667.

  • Online chat support: Regions Bank offers an online chat option through their website for real-time assistance.

  • Email support: Customers can send secure messages through the Regions Online Banking portal for email support.

  • Social media support: Regions Bank provides support through their official Facebook and Twitter pages.

  • Branch locator: Customers can find support and assistance at any of their local branches using the branch locator on the Regions website.

Here’s how you can contact Regions Bank.

Support Option

Contact Details

Customer Service Center

1-800-734-4667

Online Banking Support

1-800-472-2265

Card Customer Service

1-800-253-2265

Loan Customer Service

1-800-231-7493

Mortgage Customer Service

1-800-986-2462

Report Fraud

1-800-734-4667

International Customer Service

1-800-458-5890

Hearing Impaired Support

1-800-374-5791

Lost Or Stolen Card

1-800-734-4667

Online Chat Support

Available on Regions website

Email Support

Secure messages via Online Banking

Social Media Support

Facebook and Twitter

Branch Locator

Available on the Regions website

Similarly to usability, customer options and quality are one of the major considerations. Especially if you’re moving large amounts of money.

Here’s how users have rated Regions Bank’s customer service in the past year.

Average online reviews for Regions Bank vs Wise customer service and support. 0s represent no reviews for the given period.
Average online reviews for Regions Bank vs Wise customer service and support. 0s represent no reviews for the given period.
SAFETY

Safety and trust

Just like any other high street bank, Regions Bank has a number of security features in place, including:

  • Multi-factor authentication (MFA): Requires multiple forms of verification to access accounts.

  • Fraud detection systems: Monitors accounts for unusual or suspicious activity.

  • Encryption: Uses advanced encryption technologies to protect sensitive data.

  • Secure browsing: Employs secure socket layer (SSL) protocols for safe online transactions.

  • Account alerts: Sends alerts for account activities and potential security issues.

  • Card controls: Allows customers to lock and unlock their debit and credit cards via the mobile app.

  • Biometric authentication: Supports fingerprint and facial recognition for mobile app login.

  • Email and text alerts: Notifies users of significant changes or transactions in their accounts.

  • Online security center: Provides resources and tips for protecting personal information.

  • Identity theft protection: Offers services to help detect and resolve identity theft issues.

  • Chip-enabled cards: Issues cards with EMV chip technology for enhanced security during transactions.

  • Transaction monitoring: Continuously monitors and analyzes transactions for potential fraud.

  • Mobile banking security: Implements various security measures for mobile banking, including app-specific security controls.

Here’s how users have rated Regions Bank’s safety features in the past year.

Average online reviews for Regions Bank vs Wise safety and security. 0s represent no reviews for the given period.
Average online reviews for Regions Bank vs Wise safety and security. 0s represent no reviews for the given period.
REVIEWS

Customer feedback

ANALYSIS OF USER REVIEWS

There are no positives highlighted by the users online. Most of the online reviews are fairly negative.

Many users report significant issues with Regions Bank's customer service and account management.

Including the unexpected closure of long-standing business accounts, understaffed and unqualified local branches, and a lack of available loan officers.

Users also experience delays and complications in receiving debit cards and accessing their funds.

There are issues with the bank's handling of credit card payments, leading to disputes over late fees and missed payments.

Overall, many customers advise against using Regions Bank due to these numerous difficulties and inefficiencies.

Here's a summary of average user reviews this year.

Jan 24

Feb 24

Mar 24

Apr 24

May 24

Jun 24

Jul 24

International Transfers

0

0

0

0

0

0

0

Fees

1

1

1

0

2

2

1

Exchange Rates

0

0

0

0

0

0

1

Speed

0

0

0

0

0

0

0

Limit

0

0

1

1

0

0

2

Features

1

1

1

0

0

0

1

Ease of Use

0

0

0

0

0

0

0

Safety

0

0

0

0

0

0

0

Customer Support

0

0

1

2

0

0

1

SIGN UP

Opening an account

Before sending money, you’ll need to open an account with Regions Bank. Here’s a step-by-step process on how to get started:

Choose the type of account you want
Gather necessary documentation
Visit a Regions Bank branch or apply online
Complete the application form
Deposit initial funds
Review and sign the terms and conditions
Receive your account details
SEND MONEY ABROAD

Making international transfers

International transfer requirements & details

When making an international transfer, you will need to have the following details ready:

  • Recipient’s name: Full name of the person or entity receiving the funds.

  • Recipient’s address: Complete address of the recipient.

  • Recipient’s bank name: Name of the recipient’s bank.

  • Recipient’s bank address: Address of the recipient’s bank.

  • SWIFT/BIC code: International code used to identify the recipient’s bank.

  • IBAN: International Bank Account Number for the recipient’s account.

  • Transfer amount: Amount of money to be transferred.

  • Currency: Currency in which the recipient will receive the funds.

Regions Bank’s swift code is: UPNBUS44XXX

Where XXX is your branch number. You can find it on any of your bank documents or in your online banking portal.

Use the search box below to find your recipient’s SWIFT code.

Find a SWIFT Code

Making wire transfers

There are three different ways to arrange an international transfer with Regions Bank:

  1. Your account: Use your Regions Bank account for a traditional international bank transfer; this is best suited to individual account holders.

  2. Western Union: Use Regions Bank’s partnership with Western Union Money Transfer®. This way you can move money directly from your deposit account to any participating Western Union Agent location in the world. This is best suited for personal or corporate account holders.

  3. RegionsFX: Use the corporate banking foreign exchange services, RegionsFX Online. This is best suited for commercial customers wanting to make mass payments or large transfers.

Here are step-by-step instructions on how to make an international wire transfer using your Regions Bank account.

Log in to your Regions online banking account
Navigate to the transfers section
Select international wire transfer
Enter recipient details
Enter transfer details
Verify and confirm details
Authorize the transfer
Submit the transfer

Use Wise to send money from your Regions Bank account

It may be simpler to fund your transfer with your Regions Bank account, but use a transfer provider like Wise to send your money overseas.

Register for a Wise account
Add the details of your transfer
Review the received amount
Send the money
RECEIVING MONEY

Receive international transfers

To receive an international wire transfer to your Regions Bank account, you’ll need to provide the following information to the sender.

Your ABA, RTN, or SWIFT code

For domestic wire transfers, you’ll need to supply the Wire Routing Transit Number (your ABA or RTN): 062005690.

For international wire transfers, you’ll need to supply your SWIFT code or BIC: UPNBUS44.

The bank name and address

Regions Bank’s address for wire transfers is 1900 Fifth Avenue North, Birmingham AL, 3520.

Your account number, name, and address

You’ll need to supply your complete Regions Bank account number, the name on your account, and the complete address of your account as it appears on your bank account.

ALTERNATIVES

How Regions Bank compares to money transfer services

If you need to send money abroad and already have an account, you can use their partnership with Western Union to make the transfer.

However, amongst money transfer services, Western Union is known to have higher fees than the average.

This is why we’d recommend trying out the alternatives below. You can still use your Regions Bank account to fund your transfer via bank transfer or debit card with any of the providers below.

  • Wise
    Fees & Rates
    9.4
    Transfer Speed
    9.0
    Safety & Trust
    9.5
    Product Offering
    8.8
    Transfer Limits
    9.5
    Ease of Use
    10.0
    Customer Feedback
    8.5
    9.2
    Overall
  • Currencies Direct
    Fees & Rates
    9.8
    Transfer Speed
    9.0
    Safety & Trust
    9.0
    Product Offering
    8.0
    Transfer Limits
    9.0
    Ease of Use
    9.0
    Customer Feedback
    8.4
    8.9
    Overall
  • TorFx
    Fees & Rates
    9.3
    Transfer Speed
    9.0
    Safety & Trust
    9.0
    Product Offering
    8.0
    Transfer Limits
    9.0
    Ease of Use
    9.0
    Customer Feedback
    8.7
    8.9
    Overall
  • WorldRemit
    Fees & Rates
    9.1
    Transfer Speed
    8.0
    Safety & Trust
    9.0
    Product Offering
    9.0
    Transfer Limits
    8.0
    Ease of Use
    9.0
    Customer Feedback
    9.0
    8.7
    Overall
  • OFX
    Fees & Rates
    9.4
    Transfer Speed
    8.0
    Safety & Trust
    8.5
    Product Offering
    8.8
    Transfer Limits
    9.5
    Ease of Use
    8.2
    Customer Feedback
    8.3
    8.7
    Overall

Other Alternatives

Alternatively, consider using one of these neobanks for international transfers.

SUMMARY

Regions Bank: Is it good for transfers abroad?

We believe corporate and commercial customers will reap the benefits of Regions Bank’s services.

But, generally speaking, this bank is very expensive for international transfers (even if we take the Western Union partnership into account).

In fact, it is more expensive than many other high street banks in the US such as Bank of America and Truist Bank.

Regardless of the reason why you need international currency (be it for a transfer, a holiday, or a property purchase abroad), we suggest you always compare your options to get the best exchange rates.

Find the best rates for your transfer
Send
FAQS

A bit more about Regions Bank

Can I open a Regions Bank account in any country?
Can I use a Regions Bank debit card when traveling abroad?

Help & FAQ

Get answers to the most common questions asked when sending money abroad. Covers costs, fees and the best way to compare.

FAQs

More Banks

  • Capital One
    You can send international wire transfers with Capital One, however, at a higher cost compared to other banks and services. They also use a SWIFT network to process their transactions, meaning transactions will take longer.
  • Bank of America
    No doubt BofA is one of the more popular banks in the US, but it might not be your best option for sending money abroad.
  • Chase Bank
    Here’s a quick overview of Chase and how it compares to an average money transfer provider.
  • Wells Fargo
    Here’s an overview of Wells Fargo’s international transfers, and how they compare to money transfer companies.

Regions Bank user feedback

Would you recommend Regions Bank?
Be the first to leave feedback for Regions Bank.

Contributors

April Summers
April Summers is an experienced Senior Financial Content Editor who combines a wide range of professional skills with her academic background in English literature and journalism. Her professional background includes key positions at the Daily Star, LBB Online, and Entertainment Daily UK, which have sharpened her financial and journalistic expertise.
Artiom Pucinskij
Artiom Pucinskij is a seasoned financial content strategist who holds an impressive background in marketing from the University of Portsmouth. With years of dedicated experience in the personal finance and remittance sectors, Artiom has become an integral part of MoneyTransfers.com's growth.