Huntington National Bank is bringing back one of it's most popular promotions. From now through October 31, 2017, if you open a new Huntington 5 Checking account, you will receive a $200 bonus. Although there are a few qualifications and limitations, you will not be required to set up a Direct Deposit of any type.
The qualifications for receiving the $200 bonus are as follows: You must open new Huntington 5 Checking® account. You can open the account online or in a Huntington National Bank branch using a promotional code that will be emailed to you. In addition to opening the account, you must deposit at least $1000 within 60 days of opening the account to receive the $200 bonus.
Along with the qualifications comes some limitations.
• The bonus is only available to new customers opening a checking account. You can not have closed a Huntington checking account in the past six months or be a current Hunting checking customer.
• Huntington customers can only receive a new account gift once per year.
• If you close the account within 180 days of opening it, you will be charged a $25 Termination Fee.
• You will be charged a $5 Maintenance Fee monthly. However, it can be waived if your total balance across Huntington products (Checking, Savings, Money Market Accounts, CDs, IRAs) is at least $5000.
• If the account is inactive for 6 months, there will be an additional $5 charge per month. The fee is waived if the minimum balance of the checking account is $1,000 or above or is considered a minor account.
• The bonus will be added to your account within 14 days if the qualifications are met.
All of these details and more are available in your local Huntington National Bank branch or online.
Huntington National Bank is headquartered in Columbus, Ohio. The Huntington 5 Checking® $200 bonus will be available in the bank's market area that includes Indiana, Kentucky, Michigan, Ohio, Pennsylvania, West Virginia, and Wisconsin.
Also, as a reminder, the Huntington 5 Checking® $200 bonus is available online and in a bank branch. If the Huntington 5 Checking® account is opened in a bank branch, you will need a coupon that will be emailed to you. Huntington Bank is the 28th largest bank in the US. There is a total of 985 branches located in Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia.
A brief overview of Huntington Bank shows that it has an overall health grade of "A+" at the website DepositAccounts.com and a Texas Ratio of "Excellent" based on data from June 30, 2017. Over the past year, Huntington Bank has increased its total deposits by $19.98 billion, which is an annual growth rate of 36.83%.
The Huntington National Bank of Columbus was established in 1866. Huntington Bank has grown to become the 5th largest bank headquartered in Ohio. Huntington Bank's assets are in excess of $101 billion. Huntington Bank began an expansion in 1979. The bank acquired 54 banks in five states. The most recent acquisition was the purchase of Firstmerit Bank, N.A. in Akron, Ohio.
A comparison of a top internet savings account with a 1.40% yield and the Huntington 5 Checking® account bonus was conducted with the assumption that $5000, which has no monthly fee, is in the Huntington 5 Checking account for 180 days:
• $5,000 in the aforementioned internet savings account that earns 1.40% for 6 months will yield $35 in interest. $5000 in the Huntington 5 Checking® account for 6 months will earn the $200 bonus.
Another comparison was conducted with the same products but with only $1000 in the accounts. With only $1000 in the Huntington 5 Checking account, there will be a total of $30 in monthly fees:
• $1000 in the internet savings account that earns 1.40% for 6 months will yield $7 in interest.
• $1000 in a Huntington 5 Checking® account for 6 months will earn a bonus of $170.
As you can see, it would make a lot more sense (and money) to take advantage of the Huntington 5 Checking account bonus rather than the top internet savings account. Even if you are not able to deposit enough to have the fees waived, you will still make more money going with the Huntington 5 Checking account $200 Bonus promotion.
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