Huntington Bank Business Checking: 2024 Review

A grace period on overdraft charges makes Huntington Bank an appealing option for small-business owners.
Kelsey Sheehy
By Kelsey Sheehy 
Updated
Edited by Mary M. Flory

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3.9

NerdWallet rating 

Huntington Bank has three business checking accounts. While this review will touch on all of those options, the star rating corresponds to the bank's Business Checking 100 account, which has no monthly maintenance fee.

The regional bank's standout feature is its gracious overdraft policy. Huntington Bank will refund any overdraft fees as long as you make a deposit by midnight the next business day to bring your account into good standing.

And small-business customers who don't overdraw their accounts by more than $50 won't be charged any overdraft fees. That’s a major benefit for small-business owners who operate with tight cash-flow margins.

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Huntington Bank business checking is best for small-business owners who:

  • Operate a business in the bank’s service area.

  • Won’t exceed the 100-transaction limit of the bank’s free checking account.

  • Occasionally cut it close and could benefit from wiggle room on overdraft fees.

Another option with a similar overdraft policy is Chase business checking. But with 4,700 branches across 48 states, the odds of you consistently being close to a location are much higher.

Pros and cons

Pros

  • No overdraft fee unless your account is overdrawn by more than $50. A 24-hour grace period applies to overdrafts beyond that amount.

  • Free business checking with a generous cash deposit limit.

Cons

  • Business accounts are only available in 10 states.

  • Huntington Bank is not part of a national ATM network. Customers are charged $3.50 per transaction at out-of-network ATMs.

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4.5

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4.7

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Monthly fee 

$16.00

Monthly fee 

$0

Monthly fee 

$0

APY 

N/A

APY 

2.25%

With $0 min. balance for APY

APY 

2.00%

With $0 min. balance for APY

Bonus 

$200

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Huntington Bank business checking at a glance

Business Checking 100

Unlimited Business Checking

Unlimited Plus Business Checking

Monthly fee:

$0

$20, waived with a combined balance of at least $10,000 across business bank accounts

$40, waived with a combined balance of at least $50,000 across business bank accounts

Minimum opening deposit requirement:

$0

$0

$0

APY:

None

None

0.05%

Transactions:

100 free transactions per statement cycle; 50 cents for each additional transaction

Unlimited

Unlimited

Bonus:

$100.

Free feature trial also available.

See details below.

$400.

Free bonus feature also available. See details below.

$1,000. Free bonus features also available. See details below.

How Huntington Bank business checking works

Account options: Huntington Bank offers three traditional business checking accounts, plus an Analyzed Checking option designed for large, complex businesses.

Business Checking 100 is a free business checking account that includes 100 free transactions and up to $2,500 in free cash deposits each month. Beyond that, cash deposits are 30 cents per $100 and transactions are 50 cents each. Actions that count toward your transaction limit include debit card purchases, bills paid through online bill pay, income ACH debits and credits, and checks paid or deposited. As a bonus, Business Checking 100 customers get a 120-day free trial of Reverse Positive Pay ($8 per month), a tool that helps detect fraudulent checks.

Unlimited Business Checking is $20 per month and includes unlimited transactions and up to $10,000 in free cash deposits per month. To avoid the monthly maintenance fee, you need to maintain a combined average daily balance of $10,000 across your business accounts.

Unlimited Plus Business Checking is $40 per month, includes unlimited transactions and allows up to $25,000 in free cash deposits each month. The account also earns 0.05% interest, with no minimum balance required to begin earning interest. You need to maintain a combined average daily balance of $50,000 across your business accounts to avoid the monthly maintenance fee.

Bonus: New customers can earn up to $1,000 when they open a new business checking account. To qualify, you must deposit a minimum amount within the first 60 days. That amount is $2,000 for a $100 bonus and $5,000 for a $400 bonus. Business owners who deposit at least $20,000 can earn a $1,000 bonus — but that deposit must be made within 30 days, not 60. For all bonuses, you must keep the account open for at least 90 days.

Unlimited Business and Unlimited Plus Business Checking customers can also choose from a slate of bonus services, including 10% off Paychex payroll services, up to 25 free returned deposit items per month or two free incoming wire transfers per month.

Location availability: Huntington Bank operates across 11 states (Colorado, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, West Virginia, and Wisconsin); however, businesses operating in Florida aren't eligible. The bank has more than 1,000 branches and 1,300 ATM locations in its service area.

How to apply: Sole proprietors and LLCs can apply for a Huntington Bank business account online. All other business types need to visit a branch to open an account.

  • Required information: You need to provide personal information (name, date of birth, Social Security number, phone number and address), as well as information about your business, including your tax ID, business name and address.

  • Required documentation: Relevant business documents and a government-issued photo ID are required to open your account.

Where Huntington Bank business checking stands out

Overdraft grace period: Huntington Bank does not charge an overdraft fee if your account is overdrawn by $50 or less. If your business checking balance ever does dip below -$50, Huntington Bank will refund any overdraft fees ($36 for each item paid), provided you make a deposit before midnight the next business day to cover the overdrawn amount.

Free checking: Business Checking 100 has no monthly maintenance fee or minimum balance requirement. Free transactions are capped at 100, though, and Huntington Bank counts debit card purchases, bills paid through online bill pay, income ACH debits and credits, and checks paid or deposited toward that limit. Keep this in mind when deciding whether this is the right checking account for your small business. Several online business accounts offer free checking with no transaction limits.

Where Huntington Bank business checking falls short

ATM network and fees: Huntington Bank does not partner with a national ATM network like Allpoint or MoneyPass, so customers are limited to the 1,300 ATMs Huntington operates in its service area. Transactions at non-Huntington ATMs are $3.50 each.

Limited service area: Huntington Bank operates more than 1,000 branches across 11 states, but in some cases the bank's network is concentrated in one metro area. In Illinois, for example, branch locations are largely concentrated in the Chicago area. And Huntington’s presence in Pennsylvania is limited to Pittsburgh and points east. You’d be wise to research your closest branch before opening an account.

Monthly service fees: Huntington Bank sets a high bar to waive the monthly maintenance fee on its premium checking accounts. Unlimited Business Checking and Unlimited Plus Business Checking require an average combined daily balance of $10,000 and $50,000, respectively, to skirt the monthly fee.

Capital One Business Basic Checking, by comparison, is $15 per month but the fee is waived if you have an average balance of $2,000 over 30 or 90 days. The account has many of the same features offered by Huntington Bank, including unlimited transactions, but requires an opening deposit of $250 and charges for cash deposits in excess of $5,000 per month.

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