April 8 - Mobile Banking customers can now make deposits to their accounts using their mobile device. With the introduction of Regions Mobile Deposit, customers can now use their phone or iPad to take a photo of a check and place those funds in a consumer deposit account or load them to a Regions Now Card, a reloadable Visa® prepaid card.
The Mobile Deposit service has three funds availability options – a standard option of two business days, an intermediate same day availability option, and an immediate availability option. Costs per Mobile Deposit transaction are as low as 50 cents.
“Services like Mobile Deposit and check cashing at DepositSmart ATMs are just two examples of how Regions is offering more ways for our customers to manage their finances when and how they want,” said Scott Peters, head of Regions Consumer Services. “It gives our customers more options that are easy to use and that fit their lifestyle.”
Mobile Deposit applications combine many aspects of traditional deposits and the ability to reload a prepaid card. Application development and integration service for Regions Mobile Deposit are provided in conjunction with Kony Solutions and Chexar.
“More and more people are using the mobile channel to manage their finances, and we believe providing customers the ability to load a prepaid card or have immediate funds availability is significant,” said Chris Cox, head of Regions eBusiness. “Customers have quickly shown an appreciation for these options and a product that lets them choose how quickly they need access to their funds.”
Versions of the Regions Mobile App updated with Mobile Deposit are available for download for Android, iPhone and iPad.
About Regions Financial Corporation
Regions Financial Corporation, with $121 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, mortgage, and insurance products and services. Regions serves customers in 16 states across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,700 banking offices and 2,000 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.