The huntington business account is a convenient option for small businesses that want to save on monthly fees. It has a generous overdraft policy and offers a sign-up bonus for new accounts.
You can open your huntington business account online or in-branch by using a promotional code from the bank’s website. You’ll need to provide your name, address, and other personal information.
For a limited time, Huntington Bank is offering an APY of 0.50% when you open and link a Business Premier Plus Money Market account. It’s a pretty good deal, especially when you compare it to the best bank rates available for business accounts and savings.
It’s a good option for people who are looking to earn higher interest on excess operating funds or who want to invest in a long-term investment. It has a high minimum balance requirement, though, so it may be best for people who have at least $25,000 in their account to qualify.
You can also link a Huntington Relationship Savings or Money Market to a checking account for additional benefits, such as lower monthly fees on the linked checking account. The Relationship Savings account earns a higher APY than its Money Market counterpart when you make a link, so you can boost your interest rate even more.
Huntington offers two primary savings accounts: Premier Savings and Relationship Savings. Each account has a different minimum opening deposit and monthly maintenance fee. You can waive the $4 Premier Savings fee by maintaining a daily balance of $300 or owning a Huntington Asterisk-Free Checking account, and you can avoid the $10 Relationship Savings fee by keeping an average daily balance of $2,500 or having an eligible checking account.
The bank’s checking accounts come with a 24-hour overdraft grace period and free online bill pay. The bank also allows you to link your checking and savings accounts for added overdraft protection.
In addition, Huntington has a generous overdraft policy for small-business customers that won’t charge overdraft fees as long as you don’t go over $50 in a single day. This is particularly helpful for owners who often rely on cash-flow margins to keep their business afloat.
Lastly, you can link your Huntington Perks and Platinum Perks accounts to a savings account for increased interest and perks such as identity monitoring and free out-of-network ATM withdrawals. These accounts have higher interest rates than the Relationship Savings or Money Market accounts, but you must have at least $25,000 for a total relationship balance across all your linked Huntington accounts.
Huntington Bank offers several ways to avoid overdraft fees, including a new feature that provides immediate access to up to $500 from your check deposits. This change, announced Tuesday, is aimed at helping struggling consumers and cutting costs for the bank.
The bank also plans to lower overdraft fees from $36 to $15 in July and introduce a courtesy overdraft option, which waives the fee when you make a deposit by midnight the next business day. That could be a big help for small-business owners who have limited cash flow and are struggling to keep up with their bills.
In addition to overdraft protection, huntington business account offers a wide variety of other business banking services, including three competitive business savings accounts, several business credit products, and powerful cash forecasting and spend tracking tools. These offerings are designed to help you better manage your money, and they all come with a free version of the Business Hub, a suite of online banking tools that will help you grow your business.
Premier Savings: This is a low-rate savings account that earns an APY of 0.02%, and requires no minimum balance to open or maintain. You can waive the $4 monthly maintenance fee by maintaining an average daily balance of $300 or linking it to a checking account that doesn’t have a monthly fee. The APY increases when you link it to a Huntington 5 or Huntington Platinum Perks Checking account, and a higher interest rate is earned when you maintain an average balance of $2,500.
Relationship Savings: This is another low-rate savings account that earns a rate of 0.02%, and it can be free for savers who link it to a Huntington 5 or Platinum Perks checking account. You can even link this account to a Premier Savings account for 0.02% APY and deposit-to-deposit overdraft protection, provided that you have an Asterisk Free checking account or link it to a Premier checking account.
While the APY on this account is not particularly competitive, the fact that it’s interest-bearing makes it a worthwhile choice for savers. However, it’s important to note that the account only pays interest on money you have on hand.
Huntington Bank is an excellent option for businesses looking to open a business checking account. They offer a number of different products that fit different budgets, including a free business checking account for startups and small businesses, as well as specialized business checking accounts for health care organizations.
The bank also offers competitive interest rates on its savings and money market accounts, as well as an introductory interest rate on certificates of deposit (CDs). In addition to these offerings, Huntington Bank has an impressive suite of online banking tools that allow business account holders to manage their money.
For starters, it offers a free $50 Safety ZoneSM to help you avoid overdraft fees. This feature is available for all of its business checking, savings, and money market accounts. You can also opt to have 24-Hour Grace® overdraft protection if you want to be extra safe.
Another popular offering from Huntington Bank is the Business Premier Savings Account. This low-fee account is perfect for businesses that don’t need a lot of interest and want an easy way to save. To waive the $10 monthly service fee, simply maintain an average savings balance of $10,000 or more.
If you’re interested in earning higher interest on your savings, check out the Business Premier Plus Money Market Account. This account also has a monthly fee, but it’s easier to waive than the standard savings account. It has a minimum balance requirement of $300, and you’ll need an average daily balance of $10,000 to earn the highest interest rates.
In terms of certificate of deposit options, Huntington Bank doesn’t offer a CD with a high interest rate, but it does offer a Jumbo CD with a lower interest rate. However, the terms and conditions of each type of CD differ by location.
As a final note, Huntington Bank doesn’t have the most extensive range of business checking accounts in the industry. Its 1,000+ branches are confined to 11 states, which can make it hard for small businesses located outside those areas to use the bank’s services. That’s why we suggest considering the options at Chase, Bank of America, or Wells Fargo instead.
Huntington offers robust customer service to its small business customers through a variety of channels. You can reach a representative via phone, online chat or social media.
You can also access your account information using the Huntington app or by visiting your local branch. The app lets you check your balances, transfer money between accounts and see pending transactions at the touch of a button without logging in.
The app is free to download and use and allows you to handle your transactions from any location. It has a number of features, including 3D touch and Touch ID.
To apply for a Huntington business account, visit the bank’s website or go to your local branch. You’ll need to provide personal information, as well as relevant business documents. You’ll also need a valid government-issued photo ID.
There are several types of Huntington business accounts, so it’s important to choose the one that best suits your needs. Some are geared toward specific industries, while others are based on how many transactions you handle each month.
If you’re looking for a basic savings account, the Huntington Business Premier Savings Account is a good choice. It offers a $10 monthly fee, but you can waive it by maintaining an average savings balance of $10,000 or more.
However, the account doesn’t earn interest on your balances, and early withdrawal penalties may apply. You can also open a Huntington Bank business CD, which pays interest but doesn’t have a monthly fee.
The Huntington Bank website is user-friendly and has a thorough FAQ section. The website also includes an automated assistant and can be accessed from any device.
For example, if you have a question about your account, you can instant message a representative using the Ask Us option on the site’s lower right hand corner. You can also contact a Huntington Bank representative by phone or online chat and get real-time help from an expert.
You can also bank with Huntington outside of regular business hours at a number of locations across 11 states. You can find the nearest branch by visiting the bank’s website or using the bank’s branch locator tool.