Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.
- Huntington Bank (Member FDIC) is available to residents of IL, IN, KY, MI, OH, PA, or WV.
- The bank offers three types of checking accounts and two types of savings accounts.
- Huntington’s rates and fees are comparable to other brick-and-mortar banks.
- See Insider’s picks for the best high-yield savings accounts »
Updated on March 23, 2021: We updated this review with a new section on Huntington’s Better Business Bureau rating and reputation as a company. We’re currently adding information on trustworthiness to all of Personal Finance Insider’s reviews.
Huntington Bank has over 800 branches and 1,400 ATMs across seven US states: Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, or West Virginia to bank with Huntington.
You’ll earn higher APYs on savings and pay fewer fees with online banks than with Huntington. But if you live near a branch and want a brick-and-mortar bank with a variety of accounts to choose from, then you might like banking with Huntington.
Should you use Huntington Bank?
|You might like banking with Huntington if you:||You probably won’t like banking with Huntington if you:|
The bottom line: Huntington Bank is a good option if you live near a branch and prefer in-person banking. But if you’re looking for good interest rates and low minimum balances, you may want to consider an online bank.
Huntington Bank checking accounts review
Huntington offers three checking account options. All three come with a 24-hour grace period, which gives you one full day to replace your funds when you overdraw from your account.
They also all offer free overdraft protection so you can connect your checking account to another Huntington account that will transfer funds if you risk overdrawing.
|Huntington Asterisk-Free Checking||Huntington 5 Checking||Huntington 25 Checking|
|Monthly service fee||$0||$5, or $0 with $5,000 in all Huntington accounts||$25, or $0 with $25,000 in all Huntington accounts|
|APY||None||0.02% APY||0.05% APY|
|Out-of-network ATM fee refunds||None||5/month||Unlimited|
|Savings/money market account benefit||None||Savings or money market account APY is higher if you also have checking||Savings or money market account APY is higher if you also have checking|
You can pay bills online with all three checking accounts.
HuntingtonAsterisk-Free Checking® Account
The HuntingtonAsterisk-Free Checking® Account doesn’t require an opening deposit or minimum account balance, and it doesn’t charge a monthly fee. However, you won’t earn any interest on your money, and Huntington will charge a $3 fee when you use an out-of-network ATM.
One of the account’s best features is its sign-up bonus. You can earn $150 for opening an account, and it’s easy to qualify for this bonus than for most banks’ promotions.
Huntington 5 Checking® Account
This account doesn’t come with a cash sign-up bonus, but there are some other perks. You’ll earn a slightly higher rate on your balance, and Huntington won’t charge any out-of-network ATM fees. It also offers unlimited reimbursements for fees charged by out-of-network ATM providers.
You can earn up to 1.25% cash back when you link a Huntington Voice Credit Card® with Rewards to your account, and like the Huntington 5 Checking® Account, this account monitors your credit score for you.
Huntington Bank savings accounts review
Huntington Premier Savings Account
A Huntington Relationship Savings Account comes with a $10 monthly fee. However, the fee will be waived if you also have a Huntington 5 Checking or Huntington 25 Checking® Account, or if you maintain a balance of at least $2,500.
Huntington money market account review
Huntington Relationship Money Market Account
The Huntington Relationship Money Market Account rate drops after the initial 90 days, and its rates are low compared to many competing banks. You need an opening deposit of at least $25,000, and you won’t earn any interest if your balance drops below that.
Huntington CDs review
Huntington Certificates of Deposit (CD)
If you withdraw from your CD before it matures, Huntington will charge an early withdrawal fee. You’ll pay 1% of your principal for terms of 12 months or less, 2% of your principal for terms of 13 to 24 months, and 3% of your principal for terms of 25 months or more.
Huntington Bank features
Huntington Bank is a regional bank with over 800 branches and 1,400 ATMs across seven US states. You can open an account online, but you still must be a resident of one of the following states:
- West Virginia
Huntington offers a variety of checking, savings, and money market accounts, as well as CDs. Your money is FDIC insured for up to $250,000, or $500,000 if you have a joint account.
You can call Huntington customer support or chat live online Monday through Friday, from 7:00 a.m. and 7:00 p.m. ET.
You can call Saturday, 8:00 a.m. to 7:00 p.m., or Sunday, 9:00 a.m. to 6:00 p.m. You can chat live online on weekends from 8:00 a.m. to 5:00 p.m. ET.
Is Huntington trustworthy?
The Better Business Bureau gives Huntington Bank an A+ in trustworthiness. A strong BBB score indicates a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices.
In 2020, Huntington agreed to pay a $10.5 million settlement when workers claimed their employer-sponsored retirement accounts would be more valuable if Huntington had managed their accounts differently. If this scandal between Huntington and its employees worries you, you may decide to bank elsewhere.
How Huntington Bank compares
We compared Huntington to two brick-and-mortar banks that are prominent in the same part of the country: Chase and US Bank.
Minimum opening deposits
Up to $25,000
Minimum opening deposits
Up to $1,000
Minimum opening deposits
Up to $1,000
Up to $25
Up to $25
Up to $24.95
|Open an account||Open an account||Open an account|
Huntington Bank review vs. Chase review
If you want to open a money market account, then you’ll want to go with Huntington over Chase; Chase doesn’t have a money market account.
Chase offers more CD term length options than Huntington. If you want a term over 72 months, then you’ll probably prefer Chase. Chase doesn’t have a no-fee checking account option like Huntington does, but you may qualify to have your monthly fee waived.
If it’s still a toss-up between these two banks, then your decision may come down to which has a branch closer to your home.
Huntington Bank vs. US Bank
US Bank could be a good option for people who want to open a money market account. It only requires $25 or $100 to open either of its accounts, while Huntington requires $25,000.
US Bank also has even more types of checking accounts than Huntington does, so you may decide you like one of those options.
Otherwise, your choice could come down to which bank is closer to where you live.
Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.
Source: Read Full Article