Business banking overdraft and return fees explained

Protecting your business from overdraft and return fees starts with understanding how they work, and using the features in your accounts that help you keep your balance positive.

What are overdrafts and returns?

When you do not have enough money in your account, the bank will decide to pay or return a transaction. And there are also circumstances where the bank will not allow your account to be overdrawn. The bank systematically evaluates your ability to overdraft based on a variety of factors such as tenure, deposit frequency, overdraft history, bankruptcy history, etc. The bank pays overdrafts at our discretion and does not guarantee that we will always authorize and pay any type of transaction.

Overdrafts

An overdraft occurs when you don't have enough money in your account to cover a transaction, and the bank pays it.

Returns

A return occurs when you don't have enough money in your account to cover a transaction and the bank does not pay it. That transaction, or item, is marked as returned.

Overdrafts vs. return fees

What they cost:

What they mean:

Would 24-Hour Grace® apply?

Would $50 Safety Zone® apply?

Overdraft Fee

$36

Fee charged if we allow a transaction to go through even though you don't have enough money in your business' account1.

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Return Fee

$36

Fee charged when you don't have enough money in your business' account and we return an item (for example, a check is "bounced" or a transaction is returned unpaid)1. 24-Hour Grace® applies to Return fees.

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Tips to help avoid overdraft charges

Link a business savings account or money market account

Link a Huntington savings or money market account to a checking account as overdraft and return protection. Funds are automatically transferred, provided there is enough money in the account to cover overdrafts and returns. Automatic transfers are done in increments of $100. There is no fee to use this service.

Link a business line of credit

Link a Business Line of Credit as overdraft protection. Customer can apply for a line of credit up to $10,000. Funds are automatically transferred for the exact amount needed (up to available credit limit). Funds deposited into the checking account automatically pay down the line of credit. Annual fee of 2% for the line of credit amount (fee may be waived depending on your checking account type)2.

Link a credit card

Link a Voice Business Credit Card℠ to your business checking account as overdraft protection. The cash line (up to 10% of your credit card limit) is available to be set up for overdraft protection. Funds are automatically transferred for the exact amount of the overdraft or return2. Transfers are subject to the applicable cash advance APR and are not subject to a grace period.

Avoid overdraft and return fees with these tools and services

24-Hour Grace® for Business

At Huntington, we're for small business. That's why our unique overdraft and return fee relief comes free with all Huntington business checking, savings, and money market deposit accounts3.

Learn More

Huntington Heads Up® Alerts

Huntington Heads Up lets you know exactly where your money is going and provides real-time insights to help you stay on top of your business's finances without logging in. Sign up for alerts in the Huntington Mobile Banking app or online banking4.

Learn More

The Hub for Business

Easily manage your finances with Spend Analysis for Business, Look Ahead Calendar℠ for Business, Cash Position and Cash Flow Forecast tools in one dashboard.

Learn More

All Day Deposit℠

We give you up until midnight Central Time when depositing through ATMs or our mobile app, so you don't have to worry about cut-off times.

Learn More

Overdrafts and returns FAQ

When you do not have enough money in your account, the bank decides whether it will pay or return an item. An overdraft occurs when you don’t have enough money in your account to cover a transaction, and the bank pays it. Examples are overdrafts caused by check, in-person withdrawal, debit card purchase, ATM withdrawal or other electronic means.

A return occurs when you don’t have enough money in your account to pay an item presented and the bank returns the item without posting it to your account. Examples of returns include checks and electronic payments5.

24-Hour Grace for overdrafts

We will not charge an overdraft fee unless your account is overdrawn by more than $50. When your account is overdrawn by more than $50, 24-Hour Grace gives you more time to make a deposit and avoid overdraft fees. Just make a deposit or transfer that brings your account to a positive balance before midnight Central Time of the next business day.

Example:

Let’s say you start the day with $500 in your account and spend $600, your account balance is now -$100. With 24-Hour Grace, we give you until midnight Central Time the next business day to make a deposit or transfer and avoid overdraft fees.

Make a deposit or transfer that brings your account balance positive, including new transactions that are being processed that day, and we’ll waive the overdraft fees.


24-Hour Grace for returns

If you forgot about a check you wrote or an automatic payment that was scheduled to debit your account, and don’t have enough funds in your account, 24-Hour Grace gives you more time to make a deposit to cover any transactions that were presented against your account and the bank would have returned unpaid. Just make a deposit or transfer that covers the amount of all possible return items, plus all new transactions that will post from that day (such as debit card transactions, written checks or scheduled automatic payments), and bring your account balance positive before midnight Central Time of the next business day. If not, the possible return transactions will be returned unpaid, and we will charge a return fee, with up to one return fee per day.

Example:

You have $500 in your account when your $1,500 loan payment is presented against your account as a scheduled automatic payment. If the bank decides not to post that item into overdraft, then it will be a possible return transaction and 24-Hour Grace will give you more time to make a deposit to avoid return fees and have your loan paid.

Make a deposit or transfer that covers the total amount of your possible return transactions, plus any new transactions that are being processed that day, and we’ll waive the return fee and pay your presented transaction.

The best way to protect yourself from overdraft and return fees is to know your balance and be sure you don’t spend money you don’t have. Here are two more things you can do:

  1. Talk to a Huntington Banker to sign up for overdraft protection and link a business savings account, business money market account, business line of credit, or Voice Business Credit Card. If you spend more money than you have in your checking account, you'll be covered with an automatic transfer from your linked account to cover overdrafts and returns2.
  2. Understand the suite of tools and services Huntington offers to help you avoid overdrafts and return fees.

You can change your overdraft options anytime by talking to a Huntington Banker, calling 800-480-2001, or by visiting a Huntington branch.

Yes, we do authorize and pay overdrafts for checks, electronic payments and transfers. Remember, it is always at the bank’s discretion to decide whether or not to pay a transaction. We do not guarantee that we will always pay any type of transaction.

No. If your debit card purchase was declined, you will not receive an overdraft fee.

You can sign up for overdraft protection option anytime by visiting a Huntington branch, talking to a Huntington Banker, or calling 800-480-2001.

24-Hour Grace gives you until midnight Central Time the day after you overdraw your account or have eligible possible return items, to make a deposit or transfer that covers the amount of all possible return items, plus all new transactions that will post from that day (such as debit card transactions, written checks or scheduled automatic payments), and brings your account balance positive. We will not charge an overdraft fee unless your account is overdrawn by more than $50 ($50 Safety Zone®).

For example, you overdraw your account on a Tuesday and have possible return transactions eligible for 24-Hour Grace. You have until midnight Central Time on Wednesday to bring your account balance positive plus the total amount of possible return transactions. Customers enrolled in Huntington Heads Up alerts3 will receive an email (and/or text message or push alert) the business day after you overdraw or have eligible possible returned transactions presented on your account, which is Wednesday in our example.

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Disclosures

1Overdraft Fee Limit. Limit of three Overdraft Fees and one Return Fee per day. There is no overdraft fee assessed when an account is overdrawn by $50 or less.

2Transfers. Increments of $100 can be transferred from available funds in a business savings or business money market account, and the transfer fee is $0. See additional information in the Huntington Business Deposit Account Agreement.

Increments of $100 can be transferred from a business line of credit, up to the available credit limit. Remember that the terms and conditions for funding still apply, such as interest and transaction limitations.

Transfers in the exact amount of the overdraft or return can be made automatically from a Voice Business Credit Card®, up to 10% of the available credit limit and subject to the applicable cash advance APR. Terms and conditions for funding account still apply, such as paying interest on the credit lines. Not subject to grace periods.

24-Hour Grace®, $50 Safety Zone®, and Huntington Heads Up® are federally registered service marks of Huntington Bancshares Incorporated. All Day Deposit℠, Look Ahead Calendar℠ and Voice Business Credit Card℠ are service marks of Huntington Bancshares Incorporated. The 24-Hour Grace® system and method is patented. U.S. Pat no. 8,364,581, 8,781,955, 10,475,118, and others pending.

324-Hour Grace®. Your account will be automatically closed if it remains negative in any amount for 60 days, including if your account is overdrawn within our $50 Safety Zone. Learn more at huntington.com/BusinessGrace.

4Alerts. Message and data rates may apply.

5Returns. The bank systematically evaluates your ability to overdraft based on a variety of factors such as tenure, deposit frequency, overdraft history, bankruptcy.