Huntington Business Account Review for 2024

Huntington Bank has provided reliable and quality banking services since 1845, ranking #21 on the list of biggest banks in the U.S.¹

They offer checking and savings business accounts, which provide convenient cash management solutions. Curious about what a Huntington business bank account offers? Keep reading to learn more and why a Wise business account is a good alternative.

Looking to make or receive low-cost international payments?

Try Wise Business >>

Trustpilot: 4.3/5 average rating - Excellent⁹
No minimum balance required and no monthly fees
Pay a one-time fee for local business account details (GBP, EUR, AUD, CAD, and more) transfers

Table of Contents

Huntington Bank Business Account: Features and bank account types² Additional Huntington Business Services Is there a Huntington Small Business Account? What you need to open a Huntington business account How to open Huntington business account online Huntington Business Checking Account Pros and Cons Wise Business Account for International Transfers Huntington Business Account Alternatives and Comparison

Huntington Bank Business Account: Features and bank account types²

There are several Huntington Bank business checking accounts, including the Business Checking 100, Unlimited Business Checking, and Unlimited Plus Business Checking.

Here’s an overview of each account type and their terms, features, and monthly fees.

Account Type	Terms	Features	Monthly Fees
Business Checking 100: Best for start-ups and small businesses	Business must be based in the U.S. and operating in CO, IL, IN, KY, MI, MN, OH, PA, SD, WV, or WI	100 monthly transactions Digital tools like cash flow forecast Online banking and mobile app Treasury management and fraud tools Huntington debit Mastercard 24-Hour Grace for overdraft and return fees	None
Unlimited Business Checking: Right for businesses with more checking activity and cash flow needs	Business must be based in the U.S. and operating in CO, IL, IN, KY, MI, MN, OH, PA, SD, WV, or WI	Unlimited transactions One bonus service (fraud tools, discounts on payroll service, etc.) Everything from Business Checking 100	$20/month, but waived fees with $10,000 in combined deposit relationship balances
Unlimited Plus Business Checking: Great for larger businesses with treasury management needs and many monthly transactions	Business must be based in the U.S. and operating in CO, IL, IN, KY, MI, MN, OH, PA, SD, WV, or WI	Earn interest on balance Two bonus services Everything from Business Checking 100	$40/month, but waived fees with $50,000 in combined deposit relationship balances

See the Best Banks for Small Businesses >>

Additional Huntington Business Services

In addition to the accounts, Huntington also offers several other business banking services.

Huntington Bank Business Credit Cards

With the Voice Business Credit Card℠ you choose one category where you’ll earn 4% cash back on the first $7,000 spent during each quarter or the first $28,000 spent annually. On all other purchases, you earn 1% cash back. Users also receive no annual or foreign transactions fees on these expenditures. ⁵

Online & Mobile Banking

Businesses can manage their accounts, pay bills, and transfer funds with Huntington’s online banking platform. Thanks to their mobile app, you can also do all these things on the go.

Merchant Services

Their merchant services let businesses accept credit and debit card payments. They also offer competitive pricing and the ability to set up recurring billing for your customers. Collecting card data is also made easy with a secure payment gateway.

Huntington Debit Mastercard BusinessCard

The Debit BusinessCard is provided with each business checking account. This debit card has various features, such as free ATM access and individual cards for authorized personnel (full/limited functionality). It also lets businesses manage employee spending by setting individual spending limits for each cardholder.

Payroll & Benefits

The bank provides payroll and benefit services, including direct deposit, automated deductions for taxes and benefits, and a range of other benefits, such as health insurance or 401(k) programs. Batch payments can also be processed directly through their system.

Loans & Lines of Credit

Huntington offers a variety of loans and lines of credit, including term loans, SBA loans, and commercial real estate financing.

Cash Management

The bank also provides cash management services like ACH payments, wire transfers, and more.

Is there a Huntington Small Business Account?

The best account for small businesses is the Huntington Business 100 checking account. It gets its name from the 100 monthly transactions that it offers clients. This is ideal for companies that have lower balances and account activity. After these 100 transactions, there is 50 cent charge per transactions.⁸ 

This account comes with additional tools, such as cash flow forecasting, online and mobile banking, treasury management and fraud tools, as well as a Huntington debit Mastercard. They also offer a 24-hour grace period on overdrafts and return fees.⁸ 

Learn More: The Best Small Business Accounts

What you need to open a Huntington business account

To open a Huntington Bank business account, you’ll need to provide some basic information about your business. You’ll need certain documentation depending on your business type, whether a general partnership, LLC, corporation, or something else.

For most business types, you’ll need the following:

• ID: One or two forms of personal identification like a driver’s license or passport
• Social Security Number (SSN)
• Employer Identification Number (EIN): The unique nine-digit number for your business, also known as a Federal Tax Identification Number
• Employer Identification Number (EIN) Assignment Letter: The document that verifies the EIN
• Assumed Name Certification or Fictitious Name Certificate: The legal document that shows the operating name of the business. For example, your LLC is called “CoolDog LLC,” but your store name is “Cool Dog Store.”

Some types will need two representatives or partners to be there when you open the account. Others will need extra documents like a Registration of Incorporation, Registered Articles of Organization, and other important files³.

Once you have all the necessary information, you can open an account online or visit a local branch.

How to open Huntington business account online

Opening a Huntington business checking account online is easy and convenient. All you need to do is:

1. Go to the Huntington website.
2. Select “Business” from the main menu, click “Checking,” and choose one of the business accounts available.
3. Once on the page, click “Apply Now.”
4. Fill out all required information, including your name and contact information, as well as your business’s legal name and address. You will also be asked for additional documents related to your business that may include articles of incorporation or a federal tax ID number.
5. After filling out the form and uploading any necessary documents, you can submit your application.
6. If you’re approved, you will receive a welcome letter with all the relevant information like account numbers and routing numbers. You can then begin using your business account immediately!

Huntington Business Checking Account Pros and Cons

What are the pros and cons of opening a Huntington Bank business checking account? Find out below.

Pros

• Low monthly maintenance fees – There are no minimum balance requirements for all checking accounts and no monthly maintenance fee for the Business Checking 100. The monthly maintenance fee can be waived for the Unlimited Business Checking and Unlimited Plus Business Checking.
• Flexible overdraft options – If you have an unexpected expense or emergency, Huntington offers a few different overdraft protection plans to help keep your account in good standing.
• Convenient online banking – With their online banking platform, businesses can easily manage their accounts from anywhere with internet access.

Cons

• Low-interest rates – You can only earn interest with the Unlimited Plus Business Checking account type at an APY starting at 0.01%.
• Costly international services – Huntington’s international wire transfers and foreign currency exchange services have fees.

Huntington Business Account Review - International Payments and Transfers

Let's take a brief look at Huntington's international fees on their small business checking account.⁸ 

Wire Transfer	Payment Type
Domestic Incoming	$18.00 per each incoming domestic wire received on your account
Domestic Outgoing	$50.00 per outgoing domestic wire done by a Huntington employee
International Incoming	$25.00 per each incoming international wire received on your account
International Outgoing	$80.00 per each outgoing international wire done by a Huntington employee

Wise Business Account for International Transfers

Looking to send or receive international transfers at low cost? Wise may be great alternative.

Incoming International Transfers: A one-time fee gets local business account details in 9 global currencies, including USD, EUR, GBP, AUD, and CAD. This means you receive money with no extra fees, and then either spend the money through Wise Business account or send at the mid-market exchange rate, which could help you save compared to other providers who add markups.

Outgoing International Transfers: Again, Wise Business offers low rates and different transfer options that allow you to send payments internationally without the fees. Still unsure?

Take a look at how much you'll pay:

Huntington Business Account Alternatives and Comparison

The best way to decide whether a Huntington business checking account is right for you is to compare it with other accounts. Let’s take a look at some alternatives.

1. Wise Business Account for International Business

Wise is a digital banking platform known for its international money transfers, convenience, and radically transparent fees. They offer business accounts with no minimum balance requirements, free international transfers, and competitive foreign exchange rates. The account also offers various financial services like payroll, invoicing, and payment processing, making it a great all-in-one solution for businesses.

Looking to make or receive low-cost international payments?

Try Wise Business >>

Trustpilot: 4.3/5 average rating - Excellent⁹
No minimum balance required and no monthly fees
Pay a one-time fee for local business account details (GBP, EUR, AUD, CAD, and more) transfers

2. Small Business Checking by Bank of America

Being the second-largest bank in the U.S., Bank of America offers a wide variety of services and products that can be tailored to your business needs. Bank of America offers a basic business checking account with free online banking as well as a host of extra services for free. This includes stop payment requests, wire transfers, and the option to upgrade to a Business Advantage account if your business grows.

3. Wells Fargo

Wells Fargo has small business accounts that could be worthwhile to consider. Like Bank of America, Wells Fargo is a large banking institution with a significant presence in the United States and offers a variety of banking options for small businesses. Account types include a simple business checking account for small-scale operations, a Business Choice, and a Platinum Business Checking account for larger enterprises.

However, Wells Fargo has monthly service fees and minimum account balances, so they may only be suitable for some types of businesses.

Go Global with Wise Business

With our competitive foreign exchange rates, businesses can take advantage of international markets without worrying about high fees or long wait times.

Try Wise Business >>

Trustpilot: 4.3/5 average rating - Excellent⁹
No minimum balance required and no monthly fees
Pay a one-time fee for local business account details (GBP, EUR, AUD, CAD, and more) transfers

Move money like a local

With Wise, businesses can move money quickly and easily between multiple currencies. Wise allows you to hold 40+ currencies. You can also get local account details for up to 9 currencies at once. This way, you can control where your money goes and ensure that you avoid unwanted conversion fees.

Pay freelancers and suppliers in no time

Wise offers instant payments to freelancers and suppliers. That means businesses can pay them quickly without waiting for payment processing times or long transfer periods. Plus, they can set up regular batch payments, so they don’t have to worry about making multiple transfers each month.

If your business wants to expand its global reach, a Wise Business account is a perfect solution!

Other Great Wise Business Account Features:

Mid-market rate: Get the rate you deserve with not hidden fees on transfers Global Account: Send money in 70+ currencies and hold balances in 40+ Batch payments: Send 1000 invoices in one click Wise Business API: Recurring payments and automatic payouts Permissions: Give give different permissions to your team Auto-conversions: Don't like the current currency exchange rate? Set your rate, and Wise sends the transfer at the perfect moment No minimum balance requirements and monthly fees: Learn more about fees here

Start making payments
with Wise Business >>

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Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks.

Sources:

1. U.S. News and World Report- Huntington Bancshares Inc. review
2. Huntington Bank- Business checking account comparison
3. Huntington Bank - How to open a business bank checking account
4. Huntington Bank - Business Checking 100 business account charges form
5. Huntington Bank
6. Bank of America - Business checking accounts for your small business
7. Huntington Business 100 Terms and Fees
8. Wise Trustpilot