Update 4/15/2013: There's a new $150 checking account promotion that's scheduled to end on 4/30/2013. Please refer to this Huntington bonus review post for more details.
Huntington Bank is again offering a checking account promotion that makes it easy to qualify for a $100 bonus. It's very similar to what they were offering in December, and like that one, the promo is scheduled to end soon. The checking account must be opened by February 27, 2011. The promo page is listed at www.huntington.com/100dollars. To qualify for the $100, you must open a checking account with a $25 deposit and either set up an automatic direct deposit OR make 5 debit card purchases in 60 days.
Unlike the December promo, there's no mention of which states are eligible for this offer. I called the bank at 888-810-1381, and according to the CSR, it's only available to new customers who reside in states that have branches (Ohio, Michigan, Indiana, Pennsylvania, Kentucky, West Virginia, and Florida).
Huntington Free Checking qualifies for this promotion. It has no monthly fees or minimum balance requirement.
Here are some additional important points from the small print:
All new accounts subject to account opening approval. Bonus will be deposited to the new checking account within 90 (ninety) days of account opening (if “i or “ii condition is also met). Bonus is considered interest and will be reported on IRS Form 1099-INT. Offer not available on account conversions or in combination with any other offer. An Early Account Closing Fee will apply to accounts closed within 180 days of opening. Bank reserves the right to limit to one gift incentive per household.
In December, one reader mentioned he was rejected due to too many ChexSystem inquiries. So if you have recently opened accounts at other banks, you might have trouble qualifying.
Also, readers mentioned receiving a hard pull in the application. Hard credit pulls can temporarily ding your credit score.
In my March 2010 Huntington post, a reader mentioned that there's a monthly inactivity fee if the free checking is not used in a six month period. Be sure to review the fee schedule.
Even though their are possible gotchas, readers have reported success for previous promotions. One reader who applied last December received the $100 credit after Huntington debited her funding account for the initial deposit. This ACH deposit into the Huntington account apparently counted as a direct deposit.
Huntington Bank is headquartered in Columbus, Ohio. It's a sizable regional bank with $52.7 billion in assets. The bank has an overall health score at DepositAccounts.com of 4 out of 5 with a Texas Ratio of 21.42% (above average) based on September 2010 data. Please refer to our financial overview of Huntington Bank for more details. The bank has been a FDIC member since 1934 (FDIC Certificate # 6560).
Other Bank Bonuses
To find other bonus deals at other banks and credit unions, please refer to the bank bonus page which has all of my recent bank bonus blog posts. There are also additional bonuses listed in the checking account deals forum. If you learn about a bonus, please post them in this forum.