`This Regions Quick GuideSM is for general information and discussion purposes only.
`
`The Regions Simplicity Pledge SM
`Regions is committed to providing you with the information you need to make good fi nancial decisions,
`and to helping you understand how your accounts and services work – simply, clearly and in plain language.
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`Description
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`Eligibility
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`Activation
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`Advances
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`KEY FACTS ABOUT REGIONS READY ADVANCE
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`Regions Ready Advance® is a small-dollar, revolving line of credit product. With a revolving line of
`credit, funds can be borrowed, repaid and then borrowed again.
`Ready Advance is an expensive form of credit compared to some alternatives. Please contact a Regions
`banker to discuss other credit opportunities for which you may qualify.
`
`Ready Advance* is available to customers with a Regions checking account that has been open at
`least six months; receives combined monthly, electronic deposit(s) of at least $100; and is in good
`standing (for additional eligibility requirements, please see the Ready Advance Account Agreement
`and Disclosures at regions.com/readyadvance).
`There is no initial application, credit check or loan closing process for Ready Advance if you qualify. To
`fi nd out if you are eligible, look for a Ready Advance link in the Customer Service menu within Regions
`Online Banking. If you do not see the Ready Advance link, but think you might qualify, you may call
`1-800-766-1205 to receive an application by mail.
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`*Not available for deposit accounts originated in North Carolina.
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`Ready Advance is activated through Regions Online Banking only. Upon reviewing and accepting the
`Agreement and Disclosures, Ready Advance is immediately available for advances.
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`Advances can be made by 1) visiting Regions Online Banking, 2) contacting Regions Customer Service
`at 1-800-231-7493 or 3) completing and signing a special Ready Advance Cash Advance Request Draft
`and presenting it at any Regions branch. An initial advance through Online Banking must be taken to
`complete the activation process.
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`Cash Advance Fees
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`(cid:129) During the fi rst 12 statement cycles, there is a $1 Cash Advance Fee for each $10 advance you obtain.
`(cid:129) After you have been a Ready Advance customer for at least 12 statement cycles and if your
` account is not in default, the fee will decrease to $0.70 per $10 advance.
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`Interest
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` Depending on your repayment model, there may be additional interest assessed on your outstanding
`balance in addition to the Cash Advance Fee. See page 2 for a description of the Base Repayment
`Model and Installment Repayment Model.
`Visit regions.com/readyadvance to review the complete Account Agreement and Disclosures for more
`information.
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`Petitioners Ex. 1011
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`PET_00315
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`ADDITIONAL INFORMATION
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`Product Terms
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`Credit Limit:
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`(cid:129) First 12 statement cycles: $50-$500 (based on 50% of the total monthly
`direct deposit activity for the previous month)
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`(cid:129) After 12 statement cycles: $50-$1,000 (based on 50% of the total
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` monthly direct deposit activity for the previous month)
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` See explanation of repayment models in next section
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`Interest Rate:
`Minimum Draw Amount: $10
`Copy Fee:
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`$5 per account history report request
`Statement Reprint Fee:
`$5 per statement reprint request
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`Ready Advance Has Two Types of Repayment Models
`1
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`BASE REPAYMENT MODEL
`(cid:129) This is the standard repayment method.
`(cid:129) In the fi rst 12 statement cycles and afterward if you choose to continue this repayment method, 100% of any
`outstanding balance is automatically repaid on the day Regions receives your next direct deposit(s) of at least $25
`(note that this is not limited to payroll direct deposits; other direct deposits also are eligible for repayment of
`advances). If the amount of the direct deposit is not enough to repay 100% of the outstanding balance, Regions will
`continue to repay the remaining outstanding balance from subsequent direct deposits until the outstanding balance is
`paid in full.
` u If not repaid within 35 days, the outstanding balance will be withdrawn from the checking account. This could
`potentially cause an overdraft to the checking account, and overdraft fees could apply.
`(cid:129) After 12 statement cycles, if your account is not in default, your balance will be automatically repaid on the due
`date shown on your monthly statement instead of on the day Regions receives your next direct deposit. We will
`withdraw from your checking account the entire outstanding balance, which may be different from the balance
`shown on your statement if you have taken additional advances since you received the statement.
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`You may choose to continue repaying your balance using your next direct deposit(s) instead of on your monthly due
`date. You must notify us by calling 1-800-231-7493. If you choose to continue using this repayment option, your
`Credit Limit will remain a maximum of $500 and your Cash Advance Fee will remain $1 for each $10 advanced.
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`NOTE: If your Ready Advance balances are not repaid in full and in a timely manner as explained in the Base
`Repayment Model terms, then in addition to the Cash Advance Fee, interest at a rate of 21% APR will be assessed
`on outstanding balances.
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`2
`INSTALLMENT REPAYMENT MODEL
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`(cid:129) Your installment payment will be 50% of the outstanding balance or $100, whichever is greater. You will receive
`a statement each month for the minimum payment due.
`(cid:129) You must let us know if you wish to repay your balance in installments.
`(cid:129) In addition to the Cash Advance Fee, interest at a rate of 21% APR is assessed on any outstanding balance.
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`Cool-off Period
`(cid:129) The cool-off period applies each time you reach your maximum available credit limit for six consecutive months.
`(cid:129) If you reach your maximum available credit limit for six consecutive months, at month seven no advances will be
`permitted for one full statement cycle. Additional advances will be permitted once the cool-off period has ended.
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`Managing Your Account
` After activating your account online, you can view your account balance, transaction history, available credit and
`payment information on your monthly statement or by visiting Regions Online Banking at regions.com.
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`We’re always here to help! Just call us at 1-800-231-7493.
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`This Guide is subject to change. It is not an offer or contract for any product or service, and it does not replace the legal terms and conditions
`for your account. Please refer to your agreement and related disclosures for the legal terms and conditions of your account. Other products
`and services described in this Guide may be subject to separate terms and conditions. Credit products are subject to credit approval.
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