Payments

Regions Bank intros early pay, protection line of credit

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September 22, 2022

Regions Bank has introduced its Early Pay feature, which allows customers with direct deposit with a checking, savings, money market or Now Card to receive direct deposits up to two days early. The bank also rolled out a protection line of credit to offer $50 to $500 for short-term financial needs, according to a press release.

Customers do not have to enroll in Early Pay to access its benefits. They can subscribe to alerts to receive notices when Early Pay is available. The protection line of credit is a digital-invitation offer only and has no annual or cash advance fee. It acts as the customer's linked account for overdraft protection.

"Combined with fewer fees and more simplified banking, Regions customers now have more options to optimize their cash flow, safeguard against surprises, and improve their financial health," Kate Danella, head of Consumer Banking Group, said in the release. "And, as always, our teams remain available to help people develop financial plans that are custom tailored around the needs of individual consumers."