Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts

Huntington's Premier Plus Money Market - Secretly Shrinking Rates

Wednesday, May 12, 2010 - 7:52 AM
It might appear that Huntington Bank's Premier Plus Money Market Account is a good deal with a 1.50% APY as of 5/12/10 for balances of at least $20K. However, it's only for new accounts. After you have this account, your rates will go down, and as described by the comment of this reader, it's hard to know by how much:
I used to have a Premier Money Market Plus account with Huntington Bank. Some time between 4/26 (my last statement) and 5/6/2010, Huntington slashed the interest from 1.30% to 0.60% on the balance I was carrying. This was not possible to find on their web site. I had to send them a secure message through my account window to verify the change. I called customer service to verify the news, it was true. However, Huntington is still offering the higher rate only to new customers for this class of account - how long those customers will receive it is unknowable since Huntington makes it difficult for their accountholders to know (at any given moment) just what their APY really is, unlike other banks I use.
Thanks to this reader tresho who shared his experience in the comments.
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,633