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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

Learn more
at Huntington Bank
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 West Virginia, 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 option 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

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 offers a good range of checking accounts with three different options: Asterisk Free, Huntington 5 and Huntington 25. Though interest-bearing Huntington 5 and Huntington 25 accounts have high minimum balances to avoid the maintenance fee, all accounts come with notable overdraft protection features that are hard to find elsewhere.

  • Asterisk Free checking has no monthly maintenance fee.
  • Interest rates range from 0.15% to 0.25% for higher-tier accounts, higher than those at many large banks.
  • Has 1,400 ATMs, a solid number for a regional bank.
  • A steep minimum balance — $5,000 or $25,000 — is needed to avoid maintenance fees on higher-tier accounts, though that can include savings account balances.
  • If you get the free account, the $3 out-of-network ATM fees won't be reimbursed.
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 offers two savings accounts — Premier Savings and Relationship Savings — and one money market account.

Though linking your savings account to a higher-end Huntington checking account can boost your interest rates, rates are low across the board.

  • Maintenance fees are low, from $4 to $25, and can be waived if the account is linked to a Huntington checking account.
  • Reasonable minimum deposit of $50 for Premier Savings account.
  • Get a higher interest rate for linking a higher-tier savings account to a qualifying checking account.

  • Though interest rates are slightly better than at most bigger banks, ranging from 0.02% to 0.37%, better rates are available elsewhere.
  • The minimum balances to qualify for those interest rates are high: $2,500 for Relationship Savings, $25,000 for a money market account.
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.

  • 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 is lower than at most large banks but still steep.
  • Need a higher-tier checking account to qualify for more competitive interest rates.

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 generally positive 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 access to the “Chat Now” button appears randomly and rarely.

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

Huntington sets itself apart from the crowd with 24-Hour Grace, its overdraft protection feature that comes free with all checking, savings and money market accounts. If you overcharge your account, you’ll have until midnight of the next business day to pull your balance up to at least minus $5 to avoid overdraft fees. You can also link another account for overdraft protection transfers, which are free.

If 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. 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

Learn more
at Huntington Bank
If you’re in Michigan or Ohio or near a branch in another state, Huntington is a solid 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: Twitter: @iamyams.

Updated Oct. 12, 2016.

Ratings methodology

NerdWallet’s overall rating is a weighted average of each category: checking, savings, CDs, customer experience and overdraft fees. Factors we consider, depending on the category, 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