COLUMBUS, Ohio, Sept. 14, 2020 /PRNewswire/ -- In direct
response to customer feedback, Huntington (Nasdaq: HBAN;
www.huntington.com) today announced two new features in its
overdraft-protection lineup: 24-Hour Grace for Business and a no
overdraft fee $50 Safety Zone.
To help customers navigate the current recession caused by the
pandemic and manage their long-term financial health, Huntington is
providing additional and ongoing support for businesses and
consumers. In 2010, Huntington separated from the industry when it
introduced its "Fair Play Banking" approach as a bold commitment to
do the right thing for its customers. A decade later, Huntington,
the nation's No. 1 Small Business Administration 7(a) lender by
volume, is reaffirming its commitment to looking out for people by
adding new features that help them avoid paying overdraft fees at a
time when they may need it most.
"This is an important moment. Exactly 10 years ago this month,
we made a commitment to do more to look out for our customers'
financial well-being at a critical time. A decade later, we're
doubling down on our 'Fair Play Banking' philosophy to help
people," said Huntington CEO Steve
Steinour. "While we are again forgoing some fee income with
24-Hour Grace for Business and a no overdraft fee $50 Safety Zone, doing the right thing is also
good business. We believe it will not only help us grow, but also
demonstrate that we put our customers at the center of all we
do."
24-Hour Grace Available for Consumers and Business
Customers
24-Hour Grace is the first and only service of
its kind that gives consumer, business and commercial customers
additional time to cover overdrafts on their checking accounts.
With 24-Hour Grace, Huntington will automatically waive the
overdraft fee as long as the customer makes a deposit during the
next business day to resolve the overdraft. 24-Hour Grace is
available for free on all Huntington consumer, business and
commercial checking, savings and money market products.
No Overdraft Fee $50 Safety
Zone for Consumers and Businesses
Huntington is also
introducing a no overdraft fee $50
Safety Zone that is safe from overdraft fees as long as the account
is overdrawn by $50 or less. When
consumer or business customers overdraw their accounts, they will
now have a no overdraft fee $50
Safety Zone before seeing an overdraft fee – an increase from the
previous $5 limit.
"Our customers continue to influence our new products and
services, and we're making bold moves as part of our ongoing
commitment to put them first," said Andy
Harmening, Huntington's director of Consumer and Business
Banking. "Extending 24-Hour Grace to our businesses and offering a
no overdraft fee $50 Safety Zone,
across all deposit products, will save our customers millions of
dollars every year at a time when they need it most."
Long History of "Fair Play Banking"
Following the
Great Recession, Huntington introduced a contrarian approach to
business that was driven by doing the right thing for customers. It
included distinctive consumer features like 24-Hour Grace,
Asterisk-Free Checking and other options to look out for people's
financial well-being. Since then, Huntington launched innovations
that include The Hub, the bank's digital-banking experience,
Huntington Heads Up®, a digital messaging platform, and
Money ScoutSM, an automatic savings tool that scans
customers' accounts and looks out for money they can set
aside without missing it. These free tools are designed to
help customers save more money, manage their spending and keep
their financial goals front and center.
Huntington is also investing in its communities to support
economic inclusion and to help make customers more financially
secure in the future. The bank recently announced a new, five-year,
$20 billion Community Plan that is
focused on economic opportunity for people, small businesses, and
communities throughout its seven-state footprint. Plus, Huntington
helped more than 37,000 customers with Paycheck Protection Program
loans, further demonstrating its support and commitment to looking
out for people.
If your account is overdrawn, we'll give you more time to
make it right to avoid the overdraft fee. To find out how 24-Hour
Grace® works, visit huntington.com/Grace. For the no
overdraft fee $50 Safety Zone, your
account is automatically closed in 60 days if it remains
negative.
About Huntington
Huntington Bancshares Incorporated
is a regional bank holding company headquartered in Columbus, Ohio, with $118 billion of assets and a network of 839
full–service branches, including 12 Private Client Group offices,
and 1,344 ATMs across seven Midwestern states. Founded in 1866, The
Huntington National Bank and its affiliates provide consumer, small
business, commercial, treasury management, wealth management,
brokerage, trust, and insurance services. Huntington also provides
vehicle finance, equipment finance, national settlement, and
capital market services that extend beyond its core states. Visit
huntington.com for more information.
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SOURCE Huntington Bancshares Inc.