Do you live in the Midwest?
Are you looking for a reliable banking solution for all your savings, credits, and deposit needs?
Huntington Bank offers all you need and so much more. It is a customer-centric bank with a lot of features and options for the modern-day banker. It caters for every possible banking need and provides a stellar customer support service.
It also provides one of the best twenty-four hours overdraft waiver facility of any bank.
Quick Guide To What Huntington Bank Offers:
- Savings Accounts
- Certificate of Deposit Accounts
- Money Market Savings Accounts
- Checking Accounts
- Retirement Planning Accounts
What is Huntington Bank?
Huntington Bank is one of the older financial institutions in the US. It was established in the year 1866 to serve residents of Columbus, Ohio. It’s currently owned by Huntington Bancshares Inc., which has over $74 million dollars in assets.
Over the years, Huntington Bank has expanded to cover the Midwest through its branches in Ohio, Kentucky, Illinois, Michigan, Pennsylvania, Wisconsin, and Virginia. It has more than a thousand branches and almost two thousand ATMs.
Some of its services include savings, credit, checking, and investments. It also provides loans such as home equity, mortgage, direct lending, and auto loans. There are also a number of insurance options available as well.
Huntington is a highly rated bank, having received Highest Customer Satisfaction with Retail Banking in the North Central Region by J.D. Power for the last five years straight. It offers flexible banking products for the customers that make it a favorite among many clients.
Huntington Bank Accounts Overview
Huntington offers several savings and checking account options. All of these enjoy a twenty-four-hour overdraft waiver, online bill payments, and account deposits throughout the day.
Savings Accounts
Huntington offers a few savings accounts that include:
- relationship savings, and
- premier savings.
These savings accounts provide clients with a plethora of options when they need to open a savings account.
| Name | Minimal Deposit | Access | Security | Fees | Terms and Rates |
|---|---|---|---|---|---|
| Huntington Relationship Savings | $2,500 | Online or mobile access, telephone access, and over the counter access. | FDIC insurance; maximum limit under the law. | 3% foreign transactions, $3 Other ATMs, and $10 monthly service charge for $2500 unless linked to a checking account. | O.25% APY linked to a private client checking account, 0.20% linked to a 25 interest checking account, 0.15% linked to a 5 interest checking account, and 0.5% for balances on standalone saving account. |
| Huntington Premier Savings | $50 | Online or mobile access, and over the counter. | FDIC insurance; maximum limit under the law. | $4 monthly charge unless linked with an asterisk checking account or maintaining a daily balance of $300. | 0.2 APY |
Huntington Relationship Savings Account
By itself, the Huntington relationship savings account does not have a great interest rate. This can easily be solved by linking the savings account to your checking accounts to attract more interest. It also has a high minimum deposit at $2,500.
One of the advantages of this account is the overdraft protection which guarantees you a twenty-four-hour overdraft waiver for your account overdrafts.
You can easily deposit into your account using an ATM or an account-account transfer. Its online mobile application is also great for monitoring your account and withdrawals.
Huntington Premier Savings Account
The Huntington premier savings account is a great alternative to the relationship savings account because a lower minimal deposit is pegged at $50. It allows you to enjoy all the benefits of relationship savings account without the pressure of large deposits.
To avoid a monthly $4 service charge, simply maintain a daily $300 account balance or link your account to your asterisk checking account.
Certificate of Deposits Accounts (CDs)
| Name | Minimal Deposit | Access | Security | Fees |
|---|---|---|---|---|
| Huntington Certificate of Deposit | $1,000 | Online or mobile access, bank branch | FDIC insurance; maximum limit under the law. | Only early withdrawal fee. |
Terms and Rates:
Promotional Terms with Standard Rates:
- 1.5% APY for 11 months.
Fixed Term Rate Standard CDs.
- 0.01% APY for 1 and 3 months,
- 0.1% APY for 6, 9, 12, 18 months,
- 0.15% APY for 24 months,
- 0.2% APY for 36 months,
- 0.35% APY for 48 months,
- 0.5% APY for 60 and 72 months
Fixed-Rate Jumbo CDS,
- 0.01% APY for 7, 14, 30, 60, 90 Days,
- 0.10% APY for 180, 270, 365, 547 Days,
- 0.15% APY for 730 & 912 Days,
- 0.20% APY for 1,095 Days,
- 0.35% APY for 1,460 Day,
- 0.55% APY for 1,825 Days (5 years)
Unlike savings accounts, A CD allows you to keep your money in your account for a specified period of time. This allows you to gain more interest. The only downside of this product is that you are slapped with a penalty for any early withdrawals.
A standard CD has a minimum deposit of $1000 while a jumbo CD requires a minimum deposit of $100,000. Every CD account comes with a ten-day grace period for withdrawal before the CD is renewed.
Money Market Savings Account
| Name | Minimal Deposit | Access | Security | Fees |
|---|---|---|---|---|
| Huntington Money Market Savings Account | No minimal deposit but $25,000 is needed to earn interest unless linked to checking account. | Online, mobile access, bank branch. | FDIC insurance; maximum limit under the law. | $25 |
Terms and Rates:
Introductory Interest Rate (180 Days)
- Balances of $25,000.00 to $2,000,000.99: 1.50%,
- Balances of $2,000,001.00 to $99,999,999,999.99: 0.25%,
Linked to the 5 Checking
- Balances of $25,000 to $2,000,000: 1.51%% APY,
- Balances of $2,000,001 to $99,999,999,999: 0.25% APY,
Linked to the 25 Checking Account
- Balances of $25,000 to $2,000,000: 1.51% APY
- Balances of $2,000,001 to $99,999,999,999: 0.25% APY
Linked to the Private Client Account Balances of $25,000 to $2,000,000: 1.51% APY
- Balances of $2,000,001 to $99,999,999,999: 0.25% APY,
With Other Checking Account
- Balances of $25,000 to $2,000,000: 1.51% APY
- Balances of $2,000,001 to $99,999,999,999: 0.25% APY
Huntington Money Market Savings Account
One main disadvantage with the Huntington Money Market Savings account is that it requires a huge opening balance of $25,000 to get an interest rate.
If you can’t manage the $25,000 opening balance or if you want to bump up your interests, you can link your account to any of your Huntington checking accounts.
Checking Accounts
| Name | Minimal Deposit | Access | Security | Fees | Terms and Rates |
|---|---|---|---|---|---|
| Huntington 25 Checking Account | $25 | Online, mobile access, bank branch. | FDIC insurance; maximum limit under the law. | $25 or a $25,000 balance in Huntington Relationship Savings account | 0.25% APY |
| Huntington 5 Checking Account | $5 | Online, mobile access, bank branch. | FDIC insurance; maximum limit under the law. | $5 or a $5,000 balance in Huntington Relationship Savings account | 0.15% APY |
| Huntington Asterisk Checking Account | None | Online, mobile access, bank branch. | FDIC insurance; maximum limit under the law. | None | None |
Huntington 25 Checking Account
The Huntington 25 checking account is the bank’s premium checking account that attracts a 0.25 APY. You also have access to your money everywhere you go with its out-of-network ATM waivers.
Huntington 5 Checking Account
The Huntington 5 checking account, on the other hand, gives you a 0.15 APY, with a small $5 monthly service charge. You can access five out-of-network ATMs with their waiver.
Huntington Asterisk-Free Checking Account
The simplest checking account by Huntington Bank is the Huntington Asterisk-Free Checking Account with no opening balance and no monthly maintenance fee. It also excludes interest.
Retirement Planning Accounts
| Name | Minimal Deposit | Access | Security | Fees | Terms and Rates |
|---|---|---|---|---|---|
| Huntington IRA CDs | $1,000 for CD | Online, mobile access, bank branch. | FDIC insurance; maximum limit under the law. | No monthly service charge but can attract IRA early withdrawal. | IRA |
Huntington Bank allows you to set up either a traditional or a Roth IRA that guarantees you a tax-free retirement withdrawal.
Huntington Bank’s Presence
Huntington Bank has a record 1,800 ATMs spread across the Midwest. It has more than a thousand active branches allowing you to bank conveniently.
With its website and mobile app, you can perform all your traditional banking operation at your convenience and comfort. You can make transfers, check balances, make payments, creating alerts and notifications for your accounts.
Creating a Bank Account with Huntington
Creating a bank account with Huntington is as simple as logging into their website with your social security number and government-issued ID. You might need to provide some personal information and a few electronic documents, but in no time, you will be good to go.
Alternatively, you can visit a branch and get yourself a ready-to-use account from one of their professional customer support agents.
Is Huntington Bank For You?
Huntington Bank is a great choice for anyone looking for a checking account. It has some impressive options with low monthly operational fees and great interest rates.
It also has great twenty-four-hour overdraft protection facility that ensures you don’t get unnecessary penalties.
One of the drawbacks of using Huntington is that their interest offerings are relatively low for the savings accounts.
Linking the checking and the savings accounts is the only way you can actually boost your interest rates.
If you are based in Ohio or the Midwest and are looking for a complete banking solution, this is the best bank for you.
You can take advantage of their mobile application and online presence to take more control of your finances and pay your bills more conveniently.
The post Huntington Bank Review | Your All Time Banking Solution appeared first on Good Financial Cents®.
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