Huntington Bank Review 2021

Published December 2020 by Lance Davis

AT A GLANCE
3.4

Bankrate Score

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ATM fee refunds

Huntington is a good option if you’re looking for a lot of branches in Ohio or Michigan.

  • Checking
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    4.8
  • Savings
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    2.7
  • CDs
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    2.5
  • MMAs
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    1.9
  • MORE HIGH-YIELD OPTIONS
    MORE HIGH-YIELD OPTIONS
    Goldman Sachs Bank USA

    Member FDIC

    Savings account

    0.50 % APY

    $ 0

    Min. balance for APY

    Sallie Mae

    Member FDIC

    MMA

    0.40 % APY

    $ 0

    Min. balance for APY

    Goldman Sachs Bank USA

    Member FDIC

    CD

    0.70 % APY

    18mo

    Term

    $ 500

    Min. deposit

    Overall

    3.4

    Bankrate Score

    The Huntington National Bank attracts its customers with consumer-friendly products and an impressive branch network for its size.

    What we like

    • There’s a free checking account option available.

    • The bank offers customers access to a range of features, like 24-Hour Grace.

    • The wide range of CD terms gives customers the ability to build a CD ladder.

    What we don't

    • Yields for savers are very low.

    • The minimum balance needed to earn the intro rate on the money market account is steep.

    Checking accounts

    4.8

    Bankrate Score

    OTHER CHECKING OFFERS YOU MAY LIKE
    Quontic Bank

    Member FDIC

    Checking account

    1.01 % APY

    $ 100

    To open

    $ 0

    To avoid fees

    Huntington offers three checking accounts: Asterisk-Free Checking, Huntington 5 Checking and Huntington 25 Checking.

    The Asterisk-Free Checking account is a no-frills free checking account. There’s no minimum deposit needed to open the account and no monthly maintenance fee.

    The Huntington 5 Checking account, which pays an APY, offers the ability to waive fees for up to five ATM withdrawals per month, among other features. The $5 monthly fee can be waived if you have $5,000 combined across accounts.

    The Huntington 25 Checking account offers the highest interest rates of checking accounts from Huntington Bank. The $25 monthly service fee can be waived with at least a $25,000 balance combined across accounts. Huntington waives the $3 fee for all cash withdrawals at ATMs outside its network as well as reimburses for fees charged by the owner of the ATM.

    What we like

    • Huntington offers three checking accounts to meet the individual needs of its customers.

    • The Huntington 25 Checking account waives most fees at non-Huntington ATMs.

    What we don't

    • Customers need $25,000 in eligible deposits to waive the monthly fee on the Huntington 25 account.

    Savings accounts

    2.7

    Bankrate Score

    OTHER SAVINGS OFFERS YOU MAY LIKE
    Goldman Sachs Bank USA

    Member FDIC

    Savings account

    0.50 % APY

    $ 0

    Min. balance for APY

    Huntington offers two savings accounts: its Relationship Savings and Premier Savings accounts.

    The Relationship Savings account charges a $10 monthly fee, but it’s easily avoidable. To waive the fee, you’ll need an average daily balance of $2,500 or have a qualifying Huntington checking account. The account requires just a penny to open and start earning interest. The account pays a low APY, however, lower than the national average.

    Premier Savings Account has no maintenance fee if you have an average daily balance of $300 or if it’s linked to a qualifying checking account. Otherwise, it’s $4 each month. This savings account also pays an APY that’s below the national average. The account requires a $50 deposit to open.

    What we like

    • Both accounts offer simple ways to avoid the monthly service fees.

    What we don't

    • The APYs on both accounts are very low.

    CD rates

    2.5

    Bankrate Score

    OTHER CD OFFERS YOU MAY LIKE
    Goldman Sachs Bank USA

    Member FDIC

    CD

    0.70 % APY

    18mo

    Term

    $ 500

    Min. deposit

    Huntington Bank offers standard CDs across terms ranging from one month to 72 months, giving savers the flexibility to build a CD ladder of just about any length. The minimum deposit is $1,000 for all standard CDs. Jumbo CDs are also available with a deposit of $100,000 or more.

    APYs for standard and jumbo CDs are very low, however. In fact, they’re well below the national average yield across term lengths. Huntington doesn’t offer any specialty CDs, such as a bump-up or no-penalty CD.

    What we like

    • The wide range of terms gives customers the ability to build a CD ladder.

    • The minimum deposit for all standard CDs is a manageable $1,000.

    What we don't

    • CD yields are very low, even for jumbo CDs.

    • No bump-up or no-penalty CDs are available.

    Money market accounts

    1.9

    Bankrate Score

    The Huntington Relationship Money Market account is the top savings product at Huntington — as long as you have a linked checking account and a big enough balance to get the 90-day introductory interest rate. The intro APY, however, is slightly above the national average. Once the intro rate expires, the account’s APY falls below the national average.

    An ATM card is available for the money market account. The account also has check-writing privileges.

    There’s a $25 monthly fee on the account, but it’s waived when you link it to a qualifying checking account or maintain a $25,000 balance.

    What we like

    • The money market account has check-writing privileges.

    • It’s fairly easy to avoid the monthly service fee.

    What we don't

    • There are much better savings APYs offered elsewhere.

    • The minimum balance needed to earn the intro rate is steep.

    Bank experience

    The Huntington Bank experience shines on a number of fronts.

    Customers get access to a range of features. One of them is the bank’s 24-Hour Grace feature, a program that gives you until midnight the next day to bring your account positive. Huntington also offers its All Day Deposit, which means that the deposit day ends at midnight for deposits made at an ATM or through the mobile app. You can also link your savings account to your checking account to transfer funds if you overdraw your checking account. Additional features include online bill pay, mobile banking and account alerts.

    Customers also can contact the bank 24 hours a day, seven days a week. They can also link their debit cards to digital wallets, like Samsung Pay and Google Pay, to pay for things with their smartphones. Customers can also set up alerts to get a heads-up about important money moments on Huntington’s mobile banking app and more.

    About Huntington Bank

    The Huntington National Bank offers a full range of products and services, including banking products, wealth management and insurance. Founded in 1866, the bank is one of the largest operating throughout the middle part of the country. It has more branches in Michigan and Ohio than any other bank. Some of its branches are operated inside of grocery stores.

    Lance Davis Twitter Created with Sketch. @LRD0015

    Lance Davis Twitter Created with Sketch. @LRD0015

    Lance Davis is the senior editorial director for Bankrate, overseeing content for mortgages, deposits, investing, loans and insurance. Lance leads a team of more than 20 editors and reporters who are passionate about creating content that helps readers make smarter financial decisions. Lance started at Bankrate as a copy editor in 2013, where he learned the finer points of personal finance while reading almost every article before it was published. In this role, Lance saw how small moves today can have a big impact on your financial future. He developed a passion for sharing these lessons to help others budget their money, buy a house, save for retirement and more. Lance also gets involved with fun projects like hosting Bankrate’s webinars with Greg McBride and publishing the annual Best Banks list, which has been cited by MSN, Fox Business, The Points Guy, among others. When he’s not reading Bankrate articles or playing around on the retirement calculator, Lance enjoys following sports, going on runs and reading books. He dreams of being able to retire early and buy a home on a beach where the temperature rarely falls south of 60. Lance earned his bachelor’s degree in journalism from Auburn University in 2013. Have feedback or suggestions for the editorial team? Send Lance an email at lance.davis@bankrate.com.