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Huntington Bank: A banking force in the Midwest

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Huntington Bancshares isn't the biggest bank, serving just eight states. But it does offer all of the services that most banking customers could need: checking accounts and savings accounts, mortgages, auto loans, insurance, small-business lending and commercial loans.

Its checking accounts come with monthly maintenance fees, but these fees are easily avoidable depending on how much money you have in your accounts at any time.

History

Huntington Bancshares reached a milestone in 2016, celebrating its 150th anniversary. In 1866, the bank, then known as Huntington National Bank, was founded in Columbus, Ohio. Today, the bank still operates from this founding location, but it has grown significantly. Today's Huntington Bancshares has $100 billion in assets.

Huntington bank locations

The bank operates nearly 1,000 branches in the Midwest states of Ohio, Kentucky, Michigan, Indiana, Pennsylvania, West Virginia, Illinois and Wisconsin. It also operates more than 1,800 ATMs in this region.

Checking accounts

Huntington Bancshares offers three main checking accounts.

Free checking account

The most basic, Asterisk-Free Checking, has a big selling point in that it comes with no monthly maintenance fees. You won't have to pay a fee to open this account nor will you have to pay one to maintain it. There is also no requirement to maintain a minimum balance.

There is a downside to Asterisk-Free Checking: This account doesn't earn interest.

Interest checking accounts

If you want to earn interest, you can apply for the Huntington 5 Checking account. This account does earn interest on all deposits. You'll also get five free non-Huntington ATM withdrawals a month.

There is no minimum deposit required to open this account, but there is a $5 monthly maintenance fee. You can avoid this fee by keeping a combined balance of $5,000 in your Huntington checking, saving, money market or other accounts.

The Huntington 25 Checking account generates a higher amount of interest. You'll also be able to make an unlimited number of withdrawals from non-Huntington ATMs without being charged any fees.

This account does come with a higher monthly maintenance fee of $25. That fee is waived if you keep a balance of at least $25,000 total in all of your Huntington accounts.

Savings accounts

Huntington offers customers a variety of savings accounts, too. The Huntington Relationship Savings Account offers an interest rate of 0.05 percent, no matter your balance. You can increase this rate to 0.15 percent if you also maintain a Huntington 5 checking account and 0.20 percent with a Huntington 25 checking account. You'll need a minimum opening deposit of $2,500 to open this account.

The Huntington Premier savings account requires a minimum opening deposit of just $50. It does, though, come with lower interest rates, and you can't boost these rates by taking out a checking account with the bank. The rate, as of June 2017, stood at 0.02 percent for all balances.

A Huntington money market account might be a good choice for consumers with higher balances. Consumers with balances above $25,000 will earn an interest rate of at least 0.60 percent for the first 90 days after opening this account type.

CD rates at Huntington Bank

Huntington also offers a range of fixed-rate and jumbo CDs, with plenty of CD rates options to earn interest. For 3 year CD rates (fixed-rate CD), customers earn an interest rate of 0.20 percent, as long as their balance stands at $1,000 or more. For a 12 month fixed-rate CD, customers can earn an interest rate of 0.10 percent if their balance is higher than $1,000.

The bank offers a 24-month stepped-up CD, too. For the first six months, this CD pays an interest rate of 0.05 percent for customers who have balances of $1,000 to $99,999.99. This interest rate eventually rises to 0.20 percent during the CD's fourth six-month period.

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