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Huntington Bank Review: Checking, Savings and CDs

July 19, 2018
Banking, Banks & Credit Unions
Huntington Bank Review: User-Friendly Fee Structures Offset Unimpressive Rates
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NerdWallet rating: 3.5/5.0


Where Huntington shines:

  • Easy to avoid fees
  • Good customer service
  • Strong branch network in the Midwest
  • Promotional CDs with competitive rates

Where Huntington falls short:

  • Low interest rates on checking, savings and CDs
  • Overdrafts, if they happen, can get expensive

Where Huntington shines:

  • Easy to avoid fees
  • Good customer service
  • Strong branch network in the Midwest
  • Promotional CDs with competitive rates

Where Huntington falls short:

  • Low interest rates on checking, savings and CDs
  • Overdrafts, if they happen, can get expensive

Where Huntington shines:

  • Easy to avoid fees
  • Good customer service
  • Strong branch network in the Midwest
  • Promotional CDs with competitive rates

Where Huntington falls short:

  • Low interest rates on checking, savings and CDs
  • Overdrafts, if they happen, can get expensive

The bottom line

Huntington National Bank

at Huntington National Bank,

Member, FDIC

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. Low and easily avoidable fees are a draw, but low interest rates are a drag.

Best if: You’re looking for a brick-and-mortar bank with no or easily-avoided fees, and don’t consider the interest rate on your savings to be a high priority.


Checking: 4.0/5.0

Huntington’s basic Asterisk-Free Checking account won’t cost you anything to maintain, but with no interest, it won’t earn you anything either.

Upsides:

No monthly fee or minimum balance: Asterisk-Free Checking has no monthly maintenance fee and no minimum balance requirement.

Solid ATM network: The bank has 1,800 ATMs, a solid number for a regional bank.

Downsides:

Out-of-network ATM fee: You’ll pay $3 per transaction, plus any additional fees an ATM owner might charge, for using an ATM that’s not part of the Huntington network.

No interest: Some checking accounts come with high interest rates; this isn’t one of them.

» Want to see other options? Check out NerdWallet’s best checking accounts

Savings: 3.0/5.0

The Premier Savings account’s low interest rate means other savings accounts can get you more for your money. But the monthly fee is easy to avoid.

Upsides:

Easily avoided monthly fee: The monthly maintenance fee is $4. You can avoid it with a linked Asterisk-Free Checking account or $300 average daily balance.

Reasonable minimum opening deposit: You’ll need $50 to open a Premier Savings account.

Downside:

Bare bones interest: With an interest rate at 0.02%, you won’t see your money grow much.

» Explore accounts with higher rates and no fees at NerdWallet’s best savings accounts

Certificates of deposit: 2.0/5.0

Huntington offers a large range of CDs, including a wide variety of short-term CDs. Interest rates are abysmally low on all except a pair of promotional CDs.

Upside:

Variety of term lengths: Short-term rates begin at one month, or seven days for jumbo deposits ($100,000+), and go up to five years.

Promotional rates: Huntington Bank offers a 19-month CD with a competitive 2.50% APY and a 14-month certificate at 1.75% APY.

Downsides:

Other rates are low: Rates climb only to 0.55% on 72-month CDs. You’ll find better returns at others banks.

Minimum deposit: The minimum deposit of $1,000 is pretty standard, but some banks don’t have any minimum.

» Want the best yields? See our list of top CD rates for this month

Bank experience: 4.5/5.0

Upsides:

Strong branch presence in the Midwest: Huntington has nearly 1,000 branches, mostly across the Midwest.

Good customer service: The bank has a 24/7 phone line, a Twitter feed to answer consumer questions, and chat support, in addition to a full deck of standard online banking features like bill pay and paperless statements.

Downside:

Mixed reviews on mobile apps: Though Huntington’s Android app has gotten decent reviews, its iOS app has a relatively low average.

Overdraft fees: 2.5/5.0

Upsides:

24-Hour Grace: Huntington offers 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.

Free overdraft protection transfers: You can also link another account for overdraft protection transfers, which are free.

Downsides:

Overdrafts are expensive: If you don’t bring up your balance, you’ll be hit with a $37.50 overdraft fee up to four times a day. Customers should note that the first overdraft fee in a 12-month period is $23.

Extended overdraft fee: If your balance remains below zero for five days, you’ll be charged an additional $25 fee every five business days, up to four times.

» See what other banks charge on NerdWallet’s guide to overdraft fees by bank

Low rates; grace period on overdrafts

Huntington National Bank

at Huntington National Bank,

Member, FDIC

» Ready to take the next step? If you’re located near a branch and in-person access is a priority, Huntington is a good option. Though 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.

» Want to see your other options? See NerdWallet’s best banks and credit unions

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


Ratings methodology

NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, 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 technology, customer service and innovation.

The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.