Summary: The best way to buy Bitcoin with a Regions Bank account in the United States is through a licensed cryptocurrency brokerage platform.
We recommend eToro for the lowest fees and fastest USD deposits from the Regions Online Banking platform.
- Fast and Cheap US Dollar deposits from US Banks and ACH Transfer.
- Trade over 70 Cryptocurrencies on a trusted and regulated platform.
- Low and variable trading fees with tight spreads.
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Table of Contents
Can I buy Bitcoin with Regions Bank?
Regions Bank does not currently allow customers to directly buy Bitcoin and other cryptocurrencies from their online banking platform, or through a banking branch. This means that Regions Bank account holders will need to find a digital asset exchange that will connect to their bank account to deposit USD.
How to buy Bitcoin with Regions Bank?
The easiest way to invest in Bitcoin and cryptocurrencies with a Regions Bank account is through a trusted trading platform like eToro. They allow you to deposit USD via Bank Transfer 24/7 with low fees to buy, sell and trade over 70 digital assets.
To get started, follow the simple guide below:
- Sign up to eToro US and complete your onboarding by verifying your personal information.
- Find the 'Deposit Funds' page and deposit USD via bank transfer from your Regions Bank account
- Once your funds are deposited, select the 'Discover Crypto' page
- Then select the crypto you want to buy and execute the trade
Regions Bank Cryptocurrency Policy
Regions Bank does not have any internal policies that prohibit their customers from connecting with licensed digital asset trading platforms to invest in cryptocurrencies. This means that you are safe to sign up to regulated platforms like eToro to buy and hold Bitcoin, Ethereum, AVAX ,and other tokens.
We recommend that you avoid off-shore exchanges like Binance, Kucoin or Gate.io that have unclear regulatory status under the purview of the SEC and other financial regulators in the United States.
Regions Bank Crypto Fees
If you are buying Crypto from a Regions Bank account, you will pay zero fees when depositing USD into eToro via bank transfer. Once you are on the platform, you will pay up to 1% depending on the coin you buy and it's liquidity due to the variance in market spreads.
For large cap coins like Bitcoin or Ethereum, the spread should be narrow, meaning the fees will be well under 1%. This is far cheaper than alternatives like Coinbase who charge 3.99% for Debit/Credit Card purchases.
About Regions Bank
Regions Bank is a bank headquartered in the U.S. state of Alabama, with operations in Mississippi, Tennessee, and Louisiana. As of June 30, 2020, Regions Bank had $171 billion in assets. The bank operates more than 1,500 branches and 2,000 ATMs across 16 states.
Regions Bank is the largest bank in Alabama and the second-largest bank in Mississippi. It is a member of the S&P 500 Index and is headquartered in Birmingham, Alabama. The company was founded in 1971 and is a subsidiary of Regions Financial Corporation. In May 2021, Regions Financial Corporation announced it would be selling its banking operations in Puerto Rico to FirstBank Puerto Rico.
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. This is not meant to be tax advice or financial advice of any kind. The above information we compiled from online tax forums. Please, consult a CPA or lawyer if you have questions about filing your tax return, forms to use, or what is/is not taxable. eToro is not a tax advisor.
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