UPDATE 4/20/2016: $200 Bonus has been extended through June 30, 2016.
Huntington National Bank (Huntington Bank) regularly features opening bonuses for new checking accounts. The latest promotion, Huntington 5 Checking® and $200, is available now through
March 31 June 30, 2016.
In the past, this promotion was only available online, but this time, it’s available online and in-branch (with coupon).
Qualifications for the $200 Bonus:
- Open a new Huntington 5 Checking® account online, or in-branch using a coupon that will be emailed upon request.
- Make at least $1K in deposits within 60 days of account opening.
Complete details about the Huntington 5 Checking® account are available on Huntington Bank’s website.
- The $200 bonus will be deposited within 14 days of meeting the above qualifications.
- Available only for new checking account customers, i.e., those who have not closed a Huntington checking account in the past 6 months, or current Huntington checking customers.
- Each Huntington customer is limited to one new account related gift per calendar year.
- There is a $25 Early Account Termination Fee if the account is closed within 180 days of opening.
- The $5 Monthly Maintenance Fee that can be waived if a total relationship balance of at least $5K in a combination of deposits held by Huntington. (Eligible deposits include the Huntington 5 Checking®, Savings, MMAs, CDs, and IRAs.)
- There is also a $5 per month charge if account is inactive for 6 months. This fee can be waived with a minimum balance of at least $1,000 or for minor accounts.
Headquartered in Columbus, Ohio, Huntington Bank’s market area includes Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia.
As the 34th largest bank in the country, Huntington Bank has 766 branches located in Indiana (46), Kentucky (10), Michigan (223), Ohio (407), Pennsylvania (48), and West Virginia (32).
Huntington Bank has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 6.74% (excellent) based on December 31, 2015 data. In the past year, Huntington Bank has increased its total deposits by $3.84 Billion, an excellent annual growth rate of 7.32%. Please refer to our financial overview of Huntington Bank for more details.
Established in 1866 as The Huntington National Bank of Columbus, Huntington Bank (FDIC Certificate # 6560) has grown to be the 5th largest bank in Ohio, with assets in excess of $70 Billion. Starting in 1979, Huntington Bank began an expansion that included the acquisition of 53 banks in five states.
The following is an excerpt of an article, written by Craig Lovelace for Columbus Business First, that describes the financial climate preceding Huntington Bank’s founding in 1866.
One must first understand that by the late 1830s, banking in Ohio and the country was a mess. Individual banks could issue their own currencies, too much money was being printed and banks normally didn’t keep enough reserves on hand to cover the loans they made. If there was a blip in trade, the banks would print more money that would lead to higher inflation and a devalued currency. When the federal government declared in 1836 that it would accept only gold or silver for payment of federal land, it set off a run on the banks and cripple the economy, shutting the doors on many businesses.
How the Huntington 5 Checking® and $200 Compares
Assuming $5K (no monthly fee) in the Huntington 5 Checking® account for 180 days:
- $5K in a savings account earning 1.00% for 6 months = $24.94
- $5K in a Huntington 5 Checking® account for 6 months = $200.00
Assuming $1K ($30 in monthly fees) in the Huntington 5 Checking® account for 180 days:
- $1K in a savings account earning 1.00% for 6 months = $4.99
- $1K in a Huntington 5 Checking® account for 6 months = $170.00
With relatively simple qualifications and limited investment to earn the $200 bonus, this seems to be a highly desirable promotion for those in Huntington Bank’s market area.
Other Bank Promotions and Bonuses
Not eligible for Huntington National Bank’s bonuses? Check out my latest bank and credit union bonus blog posts to find other promotions. In addition, DepositAccounts.com readers and I also post often on bonuses in the Bank Promotions Forum.