Huntington Bank Business Checking Accounts Reviewed, Plus Top Alternatives

As a small business owner, choosing a business bank account is about much more than making deposits and withdrawals. You want to find a bank that will deliver great service and be a partner as you grow. If you run a small business in the Midwest, you might want to consider Huntington Bank for your business checking needs. Founded in 1866, Huntington Bank boasts nearly 1,000 branches and more than 1,800 ATMs across Illinois, Indiana, Kentucky, Missouri, Ohio, Pennsylvania, West Virginia, and Wisconsin.^[1] Plus, there are a variety of benefits to banking with a regional or community bank, such as Huntington.

Huntington Bank has five business checking account options tailored to address the needs of small businesses of different sizes and in different industries. Let’s take a look at each one to determine which option fits best for your small business needs. We’ll also consider a few alternative business checking accounts so you can understand your full range of options when it comes to small business banking.

A good business checking account gives you the tools to more effectively manage your business’s cash flow. There are several factors that you should consider when deciding which one is right for you, including:

This includes monthly maintenance fees as well as any fees incurred for going over the monthly transaction or deposit limits. Some banks will waive these fees if you maintain a minimum balance or make a certain number of purchases using your business credit card.

This is a cap on the number of transactions you can make with your business checking account each month, including withdrawals, deposits, and transfers. Be sure to have a ballpark number of how many transactions your business makes each month so you can select a bank account that can accommodate you.

The deposit limit is the amount of cash you can deposit into your account for free each month. After you reach that limit, the bank will charge you a fee to deposit more funds. The more revenue your business generates, the higher you will want your deposit limit to be.

The minimum balance is the amount you must keep in the account to avoid being hit with a fee. Typically, accounts with fewer fees require a larger minimum balance. If your business requires a lot of overhead to operate, you will want to find a business bank account with a low minimum balance.

Huntington Bank customizes their business checking accounts to cater to a variety of business types, including nonprofits, startups, and businesses in the healthcare industry. Like most banks, Huntington Bank’s business checking options are tiered, with an initial simplistic option followed by accounts with an increasing number of features. All Huntington Bank business checking accounts include online banking, automated email and text alerts, overdraft protection, free online statements, optional fraud prevention services, online bill pay, and a free online small business education platform.

The Community Business Checking account is Huntington Bank’s introductory business checking account. This account is perfect for businesses with minimal transactions and low monthly balances, such as startups and nonprofits. Terms and limits include:

• No monthly maintenance fee
• No minimum balance
• 150 transactions per month
• $0.60 excess transaction fee
• $5,000 deposit limit per month
• $0.20 fee for every $100 deposited over $5,000
• Access to a variety of treasury management services, including merchant services, remote deposit capture scanner, business security suite, and online payroll
• $3 paper statement fee (waived if you select online statements)
• Free Huntington Bank debit MasterCard business card

For growing businesses, Huntington Bank offers the Fast Track Business Checking account. Terms and limits include:

• $20 monthly maintenance fee (waived if you have at least $5,000 in checking balances or $30,000 combined in checking, savings, CD, and money market accounts)
• $5,000 minimum balance
• 300 transactions per month
• $0.50 excess transaction fee
• $20,000 deposit limit per month
• $0.20 fee for every $100 deposited over $20,000
• Access to a variety of treasury management services, including merchant services, remote deposit capture scanner, business security suite, and online payroll
• No fee on a linked Business Money Market or Savings account

For larger businesses with higher checking activity and greater cash flow needs, Huntington Bank offers the Accelerated Business Checking account. Terms and limits include:

• $30 monthly service fee (waived if you have $25,000 in checking balances or $100,000 combined in checking, savings, CD, and money market accounts)
• $25,000 minimum balance
• 600 transactions per month
• $0.50 excess transaction fee
• $50,000 deposit limit per month
• $0.20 fee for every $100 deposited over $50,000
• Access to a variety of treasury management services, including merchant services, remote deposit capture scanner, business security suite, and online payroll
• Ability to earn interest on money in your account
• No fee on a linked Business Money Market or Savings account

The Healthcare Business Checking account is similar to the Accelerated Business Checking account in terms of transaction and deposit limits. However, Healthcare Business Checking account holders also have access to specialized teams that work with hospitals, physician groups, medical device companies, managed care organizations, senior living facilities, and alternate site providers. Terms and limits include:

• $30 monthly service fee (waived if you have at least $25,000 in checking balances or $100,000 combined in checking, savings, CD, and money market accounts)
• $25,000 minimum balance
• 600 transactions per month
• $0.50 excess transaction fee
• $50,000 deposit limit per month
• $0.20 fee for every $100 deposited over $50,000
• Access to a variety of treasury management services, including merchant services, remote deposit capture scanner, business security suite, and online payroll
• Ability to earn interest on money in your account
• No fee on a linked Business Money Market or Savings account

Huntington Bank offers the Business Analyzed Checking account for larger and more complex businesses, such as businesses with locations in more than one state. Terms and limits include:

• $15 monthly service fee (can be offset by earnings credit, which is based on your collected monthly average balance)
• $100,000 minimum balance
• Per transaction fees apply, but can be offset by earnings credit
• $10,000 deposit limit per month
• $0.15 fee for every $100 deposited over $10,000
• Deposit fees can be offset by earnings credit
• Access to Huntington Bank’s full suite of treasury management services
• Free Huntington Bank debit Mastercard business card

If you are a new or smaller business, your best option is probably the Community Business Checking account. This account is designed for businesses with simple finances and minimal transactions. In return, account holders do not have to worry about keeping a minimum balance or paying a monthly maintenance fee.

The next step up after the Community Business Checking account is the Fast Track Business Checking account. This is for businesses that have established themselves in the market and have increased finances and monthly transactions. This account also offers the flexibility to transfer money between your Huntington Bank business checking, money market, and savings accounts at no fee.

The Accelerated Business Checking account is designed for larger businesses with heightened checking activity and broader cash flow needs, while the Healthcare Business Checking account is designed for businesses in the healthcare industry. Both are interest bearing, which means you will earn interest on the balance of your account.

Finally, the Business Analyzed Checking account is ideal for larger businesses that are also experiencing a period of growth. Business Analyzed Checking account holders can use earnings credits based on their collected monthly average balance to offset service fees.

For a business bank account that can be opened very quickly and easily online, BlueVine business checking is a top alternative to Huntington Bank. Not only that, but BlueVine business checking offers unlimited transactions, two free checkbooks, a free business debit card, mobile and online banking—and all without monthly service fees.

Terms and limits on this account include:

• No NSF fees
• No minimum opening deposit requirement
• No minimum balance requirement
• No ACH fees
• No incoming wire fees
• Fee-free access to over 38,000 ATMs to withdraw cash
• Fee-free access to over 90,000 Green Dot locations to deposit cash

In addition, the BlueVine business checking account also gives you the opportunity to earn interest on your account—1% on any balance over $1,000. So, even if you don’t have a $1,000 balance to start, you can start earning interest the minute your balance reaches that threshold, and there is no penalty or fee for having an account balance under $1,000.

Finally, you can manage all of your account online—pay vendors and bills, make transfers to and from other accounts, schedule one-time and recurring payments, and more.

A more common option is the Chase Business Complete Checking account. With Chase, you have the infrastructure of the second-most branches and ATMs of any bank in the United States.^[2] Terms and limits include:

• A low monthly maintenance fee (can be waived multiple ways)
• $2,000 minimum balance
• $5,000 deposit limit per month

If you are a small business experiencing growth, the Chase Business Complete Checking account may be for you. The account is designed for businesses who don’t need to perform a huge amount of checking activity each month, and want low fees and convenience.

For those looking for an interest-yielding checking account, check out Axos Business Interest Checking. When you open an Axos Business Interest Checking account online, you’ll earn 0.8% APY after your initial $100 deposit requirement.

Other terms and limits include:

• $10 monthly maintenance fee (waived if you maintain an average daily balance of $5,000)
• Fee reimbursement on any ATM located within the United States
• 50 free items per month
• 60 free remote deposits per month

With Axos, you also get access to a variety of online banking features, including e-statements, bill pay, and a mobile app. For those looking for their money to work for them, Axos Business Interest Checking is a good option.

Huntington Bank offers a variety of business checking options for businesses of all sizes and types. However, before selecting a business checking account you should consider what you value in a banking partner. There are a variety of options on the market, from interest-bearing accounts to no-fee accounts. You may find your neighborhood bank has the solution you need, or you may decide to align yourself with a bank with a larger national presence.

Whatever your decision, shop around and compare all your options. That way, you’ll end up with a bank that makes managing your cash easy, so you can focus on managing your business.