Huntington Bank Business Checking Review 2024

Huntington Bank offers several business checking accounts with different transaction limits and fee structures. These options include one free checking account with a monthly transaction limit and two business checking accounts that support unlimited transactions—albeit with waivable monthly fees.

There is a $5 paper statement fee on all Huntington business checking accounts that can be avoided by signing up for electronic statements. Each Huntington Bank business checking account comes with a Mastercard debit card you can use for fee-free ATM transactions at over 1,600 Huntington locations. However, out-of-network ATM transactions will incur a $3.50 fee, and debit cards also carry a 3% foreign transaction fee.

Huntington Business Checking 100

Business Checking 100 is Huntington Bank’s free, basic business checking account. While it doesn’t charge any monthly maintenance fees, you’re only allotted 100 free transactions per month. This includes debit card purchases, deposits and payments made through Huntington’s online bill-pay service. Once the limit is reached, additional transactions are $0.50 each.

You can deposit up to $5,000 per month without incurring additional charges. Small businesses with limited transaction and deposit needs are the best fit for this account.

Huntington Unlimited Business Checking

Huntington’s Unlimited Business Checking is designed for mid- to large-sized businesses. The account allows for unlimited transactions and carries a $20 monthly maintenance fee that is waived when you hold a combined relationship balance of $10,000 or more among eligible Huntington accounts.

You can deposit up to $10,000 per month without incurring additional charges. This account also allows you to choose one of the following bonus services: fraud tools, remote check deposit for up to 50 checks per month, 10% off Paychex payroll services, two free incoming domestic wire transfers per month or up to 25 returned deposited items per month.

Huntington Unlimited Plus Business Checking

Unlimited Plus Business checking is best for large companies with complex banking needs. This account offers unlimited transactions and charges a $40 monthly fee that the bank waives when you hold $50,000 or more in combined relationship balances with Huntington.

You can deposit up to $25,000 at branches and ATMs at no charge and earn interest on your balance, but the bank’s website doesn’t state the interest rate. (A customer service representative confirmed that the APY varies by ZIP code.) You also get to choose two of these bonus services: fraud tools, remote check deposit for up to 50 checks per month, 10% off Paychex payroll services, two free incoming domestic wire transfers per month or up to 25 returned deposited items per month.

Huntington Bank charges more fees than many of the best online banks. However, it offers a range of different business checking accounts with more features than you might find with a no-fee, no-frills business bank account.

Huntington Bank also offers a couple of generous overdraft protection policies to help you avoid the bank’s $36 overdraft fee.

• 24-hour grace period: All Huntington business bank accounts allow for a 24-hour grace period on overdrafts and return fees. If you inadvertently overdraw your account, you can avoid fees by depositing enough money to reach a positive balance before midnight Central Time on the following business day.
• Small overdraft forgiveness: With Huntington’s $50 Safety Zone, you are only charged if you overdraw your account by more than $50.

You can easily manage your Huntington business checking accounts online or through the bank’s mobile app.

Online banking features include:

• Bill pay. You can pay bills and transfer money to vendors and employees with Huntington Bank’s online bill-pay service. You can also set administrative controls to control who has access to company information and services.
• Alerts. Huntington lets you customize email and text alerts to monitor your business finances. Choose to receive alerts for upcoming due dates, transactions above a certain amount and more.

Huntington Bank deserves consideration for its business-friendly overdraft policies, such as a 24-hour grace period and small overdraft forgiveness. It also offers several options that range from free and basic business bank accounts to interest-bearing business checking accounts with unlimited transactions. As your business grows, your account can grow with it.

If you’re looking for a business bank account with lots of bells and whistles, Huntington might be a good fit. Huntington’s Business Hub offers tools to help you seamlessly manage your business finances. Spend Analysis lets you sort your spending and understand where your money is going so you can make adjustments if needed. The Look Ahead feature provides a bird’s-eye view of your future business expenses and income, so you always know what to expect.

However, the bank does charge more fees than many online banks, and it places limits on deposits, which may be inconvenient for some business owners. Here’s how Huntington compares to other popular options.

Huntington Bank vs. Axos

Axos offers two small business checking accounts: Axos Bank Basic Business Checking and Axos Bank Small Business Interest Checking. Basic Business Checking is your standard small business bank account, with no monthly maintenance fees or minimum opening deposit requirements but few other perks. Unlike Business Checking 100, Basic Business Checking offers unlimited free transactions.

Business owners looking to grow their savings may want to consider the Business Interest Checking account, which earns up to 1.01% APY on balances below $50,000. There is no monthly maintenance fee if you maintain an average daily balance of $5,000 or more, and you get unlimited domestic ATM fee reimbursements.

Huntington Bank vs. Bank of America

Bank of America’s small business bank account, Bank of America Business Advantage Fundamentals™ Banking, has no fee on the first 200 transactions, unlike Business Checking 100, which includes 100 free transactions. The deposit limit is also higher—$7,500 per statement cycle at no charge.

However, the Bank of America account costs $16 per month. This fee can be waived if you meet any of the following requirements:

• Spend at least $250 per month with your Bank of America business debit card
• Maintain an average combined monthly balance of $5,000
• Sign up for Preferred Rewards for Business

Forbes Advisor rates banks based on various factors, including their fees, interest rates and ATM networks, among other characteristics. We assign separate ratings to financial institutions and their individual products, such as checking accounts, savings accounts and certificates of deposit (CDs). We rate banks based on a scale of one to five stars, with one star as the poorest rating and five stars as the best.

To learn more about our rating and review methodology and editorial process, read How Forbes Advisor Reviews Banks.