What are the main ways to move money?
What is Zelle and when can you use it?
Best for: Sending small amounts to people you know
What it is: Zelle is a peer-to-peer payment service that moves money directly between bank accounts, often within minutes1.
How it works:
- Available in the Huntington Mobile Banking app
- Uses an email address or U.S. mobile number
- Transfers can arrive quickly when the recipient is enrolled1
Why it works well: Zelle connects participating banks, so funds can move directly between accounts without a delay.
What to know:
- Payments usually cannot be canceled once sent
- Works best with people you know and trust
- Fast transfers can make this service a target for scams if information is shared with the wrong person
What is Bill Pay and when can you use it?
Best for: Paying companies or recurring bills
What it is: Bill Pay lets you send payments through online banking instead of writing checks. Payments may be sent electronically or by mailed check.
How it works:
- Set up a payee in online banking
- Choose one-time or recurring payments
- Funds often take a few days to process
Why it works well: You can manage payments in one place and avoid sharing your account information with multiple companies.
What to know:
- Payment timing may vary based on how funds are sent
- Fraud attempts may involve fake payment instructions, so verifying details can help reduce risk
What is a wire transfer and when can you use it?
Best for: Large or time-sensitive payments
What it is: A wire transfer moves money between bank accounts, often on the same day.
How it works:
- Requires account and routing numbers
- May involve a branch visit and a fee
Why it works well: Wire transfers can move funds quickly, which makes them useful for major payments like real estate transactions.
What to know:
What are instant payments (HIP)?
Best for: Immediate payments and invoice requests
What it is: Huntington Instant Payments (HIP) allows funds to be received within seconds and supports request-for-payment messages.
How it works:
- Respond to payment requests in online banking
- Funds can be credited almost instantly
Why it works well: Instant access to funds can help you complete payments in real time without waiting for processing.
What to know:
- Payments are typically final once sent
- Works best when you recognize the requester or biller
How can you help reduce fraud risk when moving money?
Money movement tools can be fast and convenient. They may not include the same purchase protections as credit cards.
You can help protect yourself by:
- Sending money only to people or businesses you recognize
- Verifying payment details using a trusted source
- Avoiding sharing account information through calls, emails, or texts
