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Huntington Bank Review: Checking, Savings and CDs

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Huntington Bank Review: User-Friendly Fee Structures Offset Unimpressive Rates

Huntington Bank
NerdWallet’s rating: 3.5 / 5.0

3.5 stars out of 5

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If you’re in the Midwest or Southeast and are looking for a no-frills bank to stow your money, Huntington Bank will get the job done. A robust overdraft protection program and a clean website put Huntington among one of the best banks in the region, though low interest rates are a drag.

The bottom line

  • Huntington has its strongest presence in Michigan, Ohio, Pennsylvania and Indiana, with fewer branches in other states across the Midwest and Southeast
  • Don’t expect to make much money off interest rates
  • Good online and mobile accessibility, the options of banking in person and 24/7 phone assistance make customer service Huntington’s greatest strength

» MORE: NerdWallet’s best banks and credit unions in the Midwest

OUR RATINGS
Checking accounts3.5 stars out of 5
Savings & money market accounts3.0 stars out of 5
Certificates of deposit (CDs)2.5 stars out of 5
Customer experience4.0 stars out of 5
Overdraft fees2.5 stars out of 5
Overall3.5 stars out of 5

Checking accounts

3.5 stars out of 5

3.5 / 5.0

Huntington’s basic Asterisk-Free Checking account, with no monthly maintenance fee or minimum balance requirement, won’t cost you anything to maintain. But it won’t earn you anything either, with an interest rate at 0%.

ProsCons
  • Asterisk-Free Checking has no monthly maintenance fee and no minimum balance requirement
  • Has 1,400 ATMs, a solid number for a regional bank
  • The interest rate is 0%
  • The fee for using out-of-network ATMs is $3 per transaction
Account reviewed for rating: Asterisk-Free Checking

» MORE: NerdWallet’s best checking accounts

Savings and money market accounts

3.0 stars out of 5

3.0 / 5.0

Huntington’s Premier Savings account will cost you $4 a month if you don’t maintain an average daily balance of at least $300. Savings accounts typically entice customers with interest rates that will grow the money put in them over time. The Premier Savings account’s low interest rate means other savings accounts can get you more for your money.

ProsCons
  • Reasonable minimum deposit of $50 for Premier Savings account
  • The monthly maintenance fee is relatively low at $4 — you’ll have to keep an average daily balance of at least $300 to avoid it

  • With an interest rate at 0.02%, you won’t see your money grow much
Account reviewed for rating: Premier Savings 

» MORE: NerdWallet’s best savings accounts

Certificates of deposit

2.5 stars out of 5

2.5 / 5.0

Huntington offers a large range of CDs, including a wider-than-average variety of short-term CDs. But interest rates on the bank’s CDs are abysmally low, defeating the purpose of having a CD in the first place.

ProsCons
  • Wide variety of products, from short-term to long-term CDs
  • Short-term rates begin at one month, or seven days for jumbo deposits ($100,000+)

  • Very low rates, ranging from 0.01% to 0.55%
  • Minimum deposit of $1,000

Customer experience

4.0 stars out of 5

4.0 / 5.0

Huntington has a well-organized website that makes its fees easy to find. Its mobile apps have decent reviews on iOS and Android, and it offers online banking features such as bill pay and online statements.

Customer service is also robust, with a responsive 24/7 phone help line and a Twitter feed to answer consumer questions. It does have online chat services, but the “Chat Now” button does not always appear.

As a regional bank, Huntington is ideal for customers in Ohio or Michigan, where there are about 400 branches each. Pennsylvania and Indiana also have an ample number of branches.

Overdraft fees

2.5 stars out of 5

2.5 / 5.0

All of Huntington’s checking, savings and money market accounts come with a free overdraft protection feature called 24-Hour Grace. If you overcharge your account, you’ll have until midnight of the next business day to pull your balance up to at least negative $5 to avoid overdraft fees. You can also link another account for overdraft protection transfers, which are free.

If you don’t bring up your balance, you’ll be hit with a $37.50 overdraft fee, up to four times a day — that can get expensive quickly. The 24-Hour Grace program doesn’t apply to return fees — fees incurred by bounced checks or automatic payments that didn’t go through because of insufficient funds. And if your balance remains below zero for five days, you’ll be smacked with an additional $25 fee per day.

» MORE: NerdWallet’s guide to overdraft fees by bank

Low rates; grace period on overdrafts

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at Huntington Bank
If you’re in Michigan or Ohio or near a branch in another state, Huntington is a good option. Though the interest rates start to get competitive only with higher-tier checking and savings accounts, the free accounts all come with a generous 24-hour cushion if you overdraw. As long as you’re not too picky about making a lot of money off interest, Huntington is a solid place to park your cash.

Amber Murakami-Fester is a staff writer at NerdWallet, a personal finance website. Email: amufe@nerdwallet.com. Twitter: @iamyams.

Updated April 25, 2017.


Ratings methodology

For banks and credit unions, NerdWallet’s overall rating is a weighted average of each subcategory: checking accounts, savings and money market accounts, CDs, customer experience and other fees. Factors we consider, depending on the subcategory, include rates and fees, ATM and branch access, account features and limits, user-facing tech and customer service. Several Nerds contribute to each financial institution’s ratings to ensure consistency and accuracy.

What the ratings mean:
5 stars out of 5 — Among the very best
4.5 stars out of 5 — Very good; only minor caveats for most customers
4 stars out of 5 — Good; issues that might make a difference to some customers
3.5 stars out of 5 — Fair; make sure strengths and weaknesses are a good match for you
3 stars out of 5 — Poor; proceed with great caution
2.5 stars out of 5 (or below) — Best to avoid