Business Overdraft and Return Fees Explained

We want you to avoid overdraft and return fees. Having a clearer understanding of overdrafts and returns is a good place to start.

What are overdrafts and returns?

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.

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.

Understanding different types of fees.

Understanding different types of fees.
What It Costs
What It Means
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 account.
Return Fee ? $36 Fee charged when you don't have enough money in your account and we return an item (for example, a check is "bounced" or a transaction is returned unpaid).

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Extended Overdraft Fee ? $25 If your account is overdrawn for five consecutive business days, we will charge you a fee on the next business day (if your account is still overdrawn).

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Ways to 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).

Link a Credit Card

Link a Voice Business Credit Card to the customer’s business checking account as overdraft protection. The cash line (up to 10% of the customer’s credit card limit) is available to be set up for overdraft protection. Funds are automatically transferred for the exact amount of the overdraft or return. 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

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 accounts#.

Learn More

Huntington Heads Up® alerts for business

Stay on top of your business' finances without logging in. Sign up for alerts in the Huntington Mobile app or online banking and pick how and when you want to hear from us. You can receive alerts via email, text message, and push notification††.

Learn More

The Hub for Business

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

Learn More

All Day Deposit

We give you up until midnight when depositing through ATMs, our Mobile App, desktop scanners with Huntington Deposit Scan or Remote Deposit Capture, so you don’t have to worry about earlier cut-off times.

Learn More

Have more questions about overdrafts and returns?

Answer: Here’s how that works. 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 cover a transaction and the bank does not pay it. Examples of returns include checks and electronic payments.

Answer: 24-Hour Grace; 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; 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 we would have returned unpaid. Just make a deposit, or transfer to bring your account balance positive, including new transactions from that day (such as debit card transactions, written checks, and scheduled automatic payments) plus the total amount of possible return transactions before midnight Central Time of the next business day. If not, the transactions will be returned unpaid, and we will charge a return fee for each time we return a transaction (up to four per day).

Example:

You have $500 in your account when your $1,500 loan payment is scheduled to auto-pay. If we decide not to pay that into overdraft, we’ll give you more time to make a deposit, avoid return fees, and have your loan paid with 24-Hour Grace.

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 fees and pay your transaction.

Answer: 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. Sign up for Overdraft Protection and link a savings account to your checking account. So, if you spend more money than you have in your checking account, we’ll automatically transfer money from your savings to cover the difference—for free.
  2. Understand the suite of tools and services Huntington offers to help you avoid overdrafts and return fees. Tools like Huntington Heads Up account alerts††

Answer: 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.

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

Answer: You can sign up for overdraft protection option anytime by visiting a Huntington branch or calling (800) 480-2001.

Answer: If your account is overdrawn for five consecutive business days, we will charge you a fee on the next business day (if your account is still overdrawn), and then again on every fifth business day while your account remains overdrawn, up to a maximum of four $25 fees (or $100) during that time. There is no fee if your balance is overdrawn by $50 or less.

Answer: No. 24-Hour Grace only applies to overdraft and return fees and does not apply to extended overdraft fees.

Answer: 24-Hour Grace gives you until midnight Central Time the day after you overdraw your account or have eligible returns to make a deposit to bring your account balance positive including new transactions from that day (such as debit card transactions, written checks, and scheduled automatic payments) plus the total amount of possible return transactions. 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 alerts†† will receive an email (and/or text message or push alert) the business day after you overdraw or have possible returned transactions, which is Wednesday in our example.

Limit of 4 Overdraft Fees and 4 Return Fees per day. Limit of 4 Extended Overdraft Fees, which is charged every fifth business day while your account remains overdrawn. There is no overdraft or extended overdraft fee assessed when an account is overdrawn by $50 or less.

Remember that the terms and conditions for funding account still apply, such as interest and transaction limitations.

#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.

†† Message and data rates may apply.

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

24-Hour Grace® and Huntington Heads Up® are federally registered service marks of Huntington Bancshares Incorporated. All Day Deposit, Huntington Deposit Scan, Look Ahead Calendarand 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.

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