gabrielHuntington Bank offers a wide range of banking products, including checking, savings, money market, and CD accounts. While some accounts come with benefits like waived fees and increased interest rates, the bank’s APYs are relatively low compared to other banks. If you live in one of the 11 states where Huntington operates, read our full review to see if it’s a good fit for you.
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Huntington Bank provides personal and business banking, as well as CDs, insurance, and investment products. The bank has over 1,000 branches in the following states:
Huntington is also known for its community support, such as the Lift Local Business℠ Program, which offers loans, business planning support, and free financial courses to minority, women, and veteran-owned businesses.
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Pros
Cons
Huntington offers Premier Savings and Relationship Savings accounts, as well as a Money Market Account (MMA). Each account has different requirements to waive monthly fees and offers varying interest rates.
Premier Savings basic account with a 0.01% APY. Waives the $4 monthly fee with any Huntington checking account or an average daily balance of $300.
Relationship Savings slightly higher interest rate of 0.02% (up to 0.06% with a Private Client account). Waives the $10 monthly fee with Huntington Perks Checking℠ or Huntington Platinum Perks Checking℠ accounts or a $2,500 balance.
Relationship MMA has higher interest rates, potentially over 1%, for balances over $25,000 when paired with a Huntington checking account.
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Huntington offers a broad selection of CDs with terms ranging from one to 72 months. APYs vary based on the amount and term length. For example, a 1- or 3-month CD for $1,000 – $9,999 offers a 0.05% APY, while a 72-month CD offers a 0.10% APY.
In addition to savings, CDs, and Money Market accounts, Huntington offers several different checking account options. The Asterisk-Free Checking account is completely free, with no cost to open and no maintenance fees, unlike most other Huntington accounts.
The Perks Checking account has a $10 fee, which is waived if you maintain $1,000 in total monthly deposits or a $5,000 balance between your checking and qualifying Huntington savings accounts. This account offers a 0.02% APY and benefits like five free ATM withdrawals from outside banks.
Huntington’s highest-tier checking account, the Platinum Perks Checking account, offers a 0.03% APY, unlimited out-of-network ATM withdrawals, credit monitoring, and discounts on other Huntington products. This account has a $25 fee, which can be waived if you maintain $25,000 in total balances between your checking and savings accounts.
Huntington recognizes that overdrafts can occur. If your account is overdrawn by $50 or less, you won’t incur a fee. You then have 24 hours to deposit funds into your account before a fine is applied.
Huntington offers Standby Cash®, a distinctive feature providing a free line of credit between $100 and $1,000. The amount available is based on your deposit history rather than your credit score. You have three months to repay this loan, after which a 1% monthly interest charge will apply.
The Savings Goal Getter feature allows you to set up to 10 savings goals, including an emergency fund, for each of your savings and Money Market accounts. You can specify your end goals, and Huntington will help you calculate how much you can realistically save each month based on your banking history. You’ll receive alerts to track your progress and can set up automatic transfers to make saving easier.
Huntington’s Money Scout feature is ideal for individuals who believe they can’t afford to save. Recognizing that not everyone can set aside large sums each month, Huntington analyzes all your accounts to identify unused funds (between $5 and $50) and automatically transfers them to your savings account. You will receive an alert each time a transfer is made, ensuring you know exactly where your money is going.
Huntington prioritizes your security just as much as any other bank. All their online business banking products are FDIC-insured, providing you with peace of mind. Additionally, they use an SSL-encrypted system to protect your information and offer a personal guarantee that your money will be sent safely and on time when you use their online bill pay service.
Huntington is ideal for those who prefer branch banking and live in the Midwest or South where its branches are located. Since not all Huntington accounts offer high yields, it’s wise to compare rates.
Yes, the Huntington Asterisk-Free Checking Account does not charge monthly service fees.
Huntington Bank checking accounts require a $0 minimum opening deposit. Traditional savings accounts need a minimum deposit ranging from $50 to $2,500. CDs require at least $1,000 upfront, and money market accounts need an initial deposit of $25,000.
Huntington Bank serves a specific clientele, primarily those living in the South or Midwest to access local branches. Customers must be comfortable paying monthly fees between $4 and $25 or maintaining high balances across their accounts.
Despite this, Huntington offers perks like overdraft protection up to $50, multiple automatic savings options, and “free” lines of credit, making it a comprehensive option for those looking to consolidate their banking in one place.
