Huntington Bank Business Checking Review
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
This article is part of a larger series on Business Banking.
Huntington Bank is a great choice for businesses with low monthly transaction activities that are looking for traditional full-banking services with no or waivable monthly fees. It’s also great for businesses needing a Small Business Administration (SBA) lender for business financing.
It offers three business checking accounts:
- Business Checking 100 has no monthly fee, up to 100 free monthly transactions, and a free deposit limit of $5,000.
- Unlimited Business Checking has a waivable $20 monthly fee, unlimited free monthly transactions, and a free deposit limit of $10,000.
- Unlimited Plus Business Checking has a waivable $40 monthly fee with unlimited free monthly transactions and a free deposit limit of $25,000.
These all come with a free debit card, zero minimum opening deposits, and a 24-Hour Grace® Overdraft and Return Fee Relief.
Businesses must be based in the United States and operating in Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, or Wisconsin to be eligible for an account.
Huntington Bank
What We Like
- No minimum opening deposit
- 24-Hour Grace® Overdraft and Return Fee Relief
- No monthly fees for the Business Checking 100
What's Missing
- Expensive domestic and international outgoing wire fees
- High maintaining balances to waive monthly fees for Unlimited Business Checking and Unlimited Plus Business Checking
- Branch service areas limited to 11 states: Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, and Wisconsin
Features
- Free debit Mastercard
- Online and mobile banking
- Deposit checks, send money, and pay bills online
- $50 Safety ZoneSM feature lets you avoid an overdraft fee
- Bonus services include free desktop check deposit scanner, payroll discount, and free incoming wires
- Access to Huntington SmartTax® service allowing timely tax payments
- Access to The Hub for financial management tools
How Huntington Bank Stacks Up With Its Competitors
Annual Percentage Yield (APY) | Cash Deposit Fee | ATM Fee | Minimum Opening Deposit | |
|---|---|---|---|---|
 Business Checking 100 | N/A | Up to $5,000 free per month; then 30 cents per $100 per month | Free at Huntington ATMs, $3.50 at non-Huntington ATMs plus operator fees | None |
 Business Advantage Fundamentals Banking | N/A | Up to $7,500 per month free, then 30 cents $100 per statement cycle | $2.50 per transaction at non-Bank of America ATMs, plus ATM operator fees | None |
 Business Complete Banking | N/A | Up to $5,000 monthly free, then $2.50 per $1,000 per statement cycle | $2.50 per transaction at any non-Chase ATM, plus ATM operator fees | None |
When Huntington Bank Is a Good Fit
- You’re a startup or small business with a low monthly transaction activity: With Huntington Business Checking 100, you get up to 100 free transactions and up to $5,000 in free cash deposits each month.
- You want to save on monthly fees: Huntington’s Business Checking 100 account has no monthly fee, freeing you from meeting minimum balances to waive it.
- You have a higher monthly transaction activity and greater cash flow needs: With Unlimited Business Checking and Unlimited Plus Business Checking, your fee-free transactions are unlimited, and your free cash deposit limits are higher at $10,000 and $25,000, respectively.
- You’re seeking a top SBA lender for business financing: Huntington Bank made it to our list of the best SBA lenders for coming in second in dollars for SBA loan approval in the fiscal year of 2021. Its area of expertise is focused on franchises, manufacturing, and restaurants.
When Huntington Bank Is Not a Good Fit
- Your business requires in-person banking but is based outside Huntington’s service areas: Even if it doesn’t require a minimum opening deposit for its business checking accounts, its 1,000+ branches are confined to 11 states. You can consider Chase, Bank of America, and Wells Fargo for their nationwide presence.
- Your business frequently sends and receives wire fees: Huntington has expensive wires, so you can opt for Relay instead. It has free incoming domestic and international wires and low-cost outgoing wires.
- You’re looking for a free checking account that offers APY: While the bank has a free business checking account, Business Checking 100, it doesn’t earn APY. You can consider Bluevine and Axos Bank if you want to gain interest.
- You’re looking to gain cash back rewards on debit card purchases: Huntington’s cash back offer is confined to its Huntington Voice Business Credit Card. A better alternative is Grasshopper Bank, with its 1% debit card cashback on online and in-store purchases.
Huntington Bank Business Checking Overview
Huntington Bank Business Checking Requirements
You can visit the Huntington Bank website or go to one of its branches to open a business checking account. You’ll need to provide personal information, such as your name, address, employer identification number (EIN), if applicable, a tax identification number (TIN), and date of birth.
A government-issued ID is required, such as:
- Driver’s license
- REAL ID card
- US Department of Defense (DoD) ID card
- Passport/Passport card
- Social security card
- Birth certificate
You can open an account online if you’re:
- Authorized to open accounts and transact on behalf of the business
- 18 years and older
- A US citizen
- Based in the US and operating in Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia or Wisconsin
Click on your entity type to view the bank’s additional business checking requirements.
Sole Proprietorship
The sole proprietor must be present at a Huntington branch to open the account with the following documentation:
- Two forms of personal identification
- Social Security number
- EIN
- EIN assignment letter
- Assumed name certificate or fictitious name certificate
General Partnership
At least two general partners must be present during account opening at a Huntington branch for a General Partnership Bank Account with the below documentation. The controlling party, along with any beneficial owner who owns 25% or more of a business, will be required to provide additional information and complete a Certification of Beneficial Owner(s) form.
- One form of personal identification for each general partner
- EIN
- At least one form of business identification:
- Partnership agreement
- Government-issued business license
- EIN assignment letter
- Assumed name certificate or fictitious name certificate
Limited Partnership
At least two General Partners must be present upon account opening. Additional documents may be required before your business deposit account can be opened. The list provided below may change as applicable state and federal regulations change.
- One form of personal identification for each general partner
- EI)
- The EIN assignment letter or business identification must provide verification of the business address, or the business will need to provide an additional document to confirm the address, such as a utility bill or vehicle registration
- Registered certificate of limited partnership
- Partnership agreement
- Assumed name certificate or fictitious name certificate
- The controlling party, along with any beneficial owner who owns 25% or more of the business, will be required to provide additional information and complete a Certification of Beneficial Owner(s) form
Limited Liability Corporation (LLC)
At least two LLC members (or manager, if applicable) must be present at account opening for an LLC Bank Account, unless the entity is a sole member LLC. The controlling party, along with any beneficial owner who owns 25% or more of a business, will be required to provide additional information and complete a Certification of Beneficial Owner(s) form.
Huntington will need the following documentation:
- Two forms of personal identification
- Social Security number, if the entity is a sole member LLC
- EIN
- EIN assignment letter
- Assumed name certificate or fictitious name certificate
- Registered articles of organization
- Operating agreement listing the names of member(s) and the manager
Limited Liability Partnership (LLP)
All LLP Partners must be present to open an account for a corporation with the following documentation. The controlling party, along with any beneficial owner who owns 25% or more of a business, will be required to provide additional information and complete a Certification of Beneficial Owner(s) form.
- One form of personal identification for each authorized signer
- EIN
- Registration of LLP
- LLP agreement, including the names of the partners
- EIN assignment letter
Corporation
At least two Officers of the corporation must be present to open an account for a corporation with the following documentation. The controlling party, along with any beneficial owner who owns 25% or more of a business, will be required to provide additional information and complete a Certification of Beneficial Owner(s) form.
- One form of personal identification for each authorized signer
- EIN
- Registration of incorporation
- Assumed name certificate or fictitious name certificate
- EIN assignment letter
Organization/Association
At least two representatives of the association or organization, as identified in the governing document, must be present upon account opening.
- By-laws, charter, constitution, or other governing document
- EIN
- The EIN assignment letter or business identification must provide verification of the business address, or the business will need to provide an additional document to confirm the address, such as a utility bill or vehicle registration.
- Assumed name certificate or fictitious name certificate
Additional documents may be required before your business deposit account can be opened. The list provided above may change as applicable state and federal regulations change.
Before opening an account, see our guide on how to open a business bank account. It includes a free downloadable checklist of required documents.
Huntington Bank Business Checking Features
Huntington Bank’s business checking accounts offer a debit card, online and mobile banking, 24-hour Grace Overdraft, and bonus services.
Free Debit Card
The Huntington Debit Mastercard BusinessCard protects you from unauthorized purchases with its zero liability feature. It’s free when you open a business checking account, and you can request individual cards for your authorized employees.
Online & Mobile Banking
Huntington Bank lets you transfer funds, pay bills, and check your balance securely online. You can download Huntington Bank’s mobile banking app via the App Store and Google Play.
The Hub for Business
The bank offers access to the Business Hub, an online platform where you’ll find financial tools, Spend Analysis, Look Ahead Calendar, and Cash Position & Cash Flow Forecast. You can keep track of your past expenses, view your future expenses through the calendar’s monthly view, check your business cash levels, and monitor your business’s cash reserves to analyze the cash inflow and outflow.
24-Hour Grace® Overdraft & Return Fee Relief
This feature is free for all Huntington business checking, savings, and money market accounts, and it allows business account holders more time to deposit and avoid paying an overdraft or return fee. The deposit must be made before midnight Central time, and it must bring your account balance to positive.
Huntington won’t charge an overdraft fee for overdrawn accounts $50 and below. Beyond that, you can take advantage of the 24-Hour Grace to waive the overdraft or return fees.
Bonus Services
For those that open a Business Checking 100 account, you get a 120-day free trial to a fraud prevention tool, Reverse Positive Pay. Meanwhile, with an Unlimited Business Checking or an Unlimited Plus Business Checking account, you can select one or two services, respectively. Here are a few of the bonus services that you can choose from:
- Free Huntington Deposit ScanSM Desktop scanner
- 10% discount off Paychex payroll services
- No charge on two incoming domestic wires per month
- No fees for returned checks up to 25 occurrences each month
- Free Reverse Positive Pay fraud prevention tool
Other Business Checking Product
A Business Analyzed Checking account for larger companies with more complex banking needs is available.
Treasury Management Services
Huntington provides merchant services, payroll services, remote deposit capture, SmartTax® service, lockbox services, and vault deposit services.
Other Banking Products
The financial institution offers a full range of banking products, from business savings and lending to a business credit card.
- Business Savings: Business Premier Savings Account
- Business Money Market: Business Premier Plus Money Market
- Lending: Business Line of Credit, Practice Finance, Business Term & Real Estate Loans, SBA-Guaranteed Business Loans
- Insurance: Bonds, Professional Liability, Property & Casualty, Title Insurance, Group Medical for Employees
- Credit Card: VoiceSM Business Credit Card
Huntington Bank Business Checking Pros & Cons
| PROS | CONS |
|---|---|
| Welcome bonus for new accounts | No cashback rewards for debit card purchases |
| Bonus services depending on your business checking type | No APY for basic Business Checking 100 and Unlimited Business Checking |
| $50 Safety ZoneSM protection from an overdraft fee | No ATM fee refunds for using non-Huntington ATMs |
The bank has great business checking products. Business owners can benefit from its free $50 Safety ZoneSM, wherein no overdraft fee will be charged if you overdraw your accounts by $50 or less. You also gain bonus services that can include payroll discounts, a free desktop check deposit scanner, or free incoming wires depending on the checking product you open. On top of that, Huntington offers a welcome bonus of up to $750 for new business checking accounts.
However, it doesn’t have ATM fee reimbursements when you use an out-of-network ATM. Also, its Business Checking 100 and Unlimited Business Checking don’t generate interest, and you don’t earn cash back rewards for your debit card purchases.
Alternatives to Huntington Bank Business Checking
Huntington’s business checking accounts are excellent—but if you want to earn an APY on a fee-free account, receive cash back rewards when you use your debit card for purchases, or want a traditional bank with a wider service area footprint, then it’s best to go with an alternative.
Here are three to consider:
- Bluevine is best for business owners wanting to generate interest on a fee-free business checking account.
- Grasshopper Bank is ideal for businesses that frequently make online and in-store debit card purchases and are seeking cash back rewards.
- Chase is optimal for businesses needing to transact in brick-and-mortar branches covering nationwide service areas.
Check out more providers in our list of the best small business checking accounts.
Bottom Line
Huntington Bank is an outstanding choice for a business checking account as it offers suitable services depending on your company’s size. Startups and small businesses can start with Business Checking 100 with its no monthly fee feature. As your banking needs grow, you can opt for an Unlimited Business Checking or Unlimited Plus Business Checking account, which has free unlimited transactions to match your business activity. What sets Huntington Bank apart from its competitors, is its 24-Hour Grace® Overdraft and Return Fee Relief, helping business owners save more, especially small business owners heavily reliant on working capital.
