Jeffrey Wade
Huntington Bank is a regional bank with over 1,000 branches and 1,600 ATMs across 13 US states. The bank offers a range of financial products and services, including checking and savings accounts, loans, insurance, and investment options. One important feature that customers may want to know about is whether their money is protected if something happens to the bank. This is where deposit insurance, specifically Federal Deposit Insurance Corporation (FDIC) insurance, comes into play. So, is Huntington Bank FDIC-insured, and what does that mean for customers' funds?
| Characteristics | Values |
|---|---|
| Is Huntington Bank FDIC-insured? | Yes |
| What is FDIC Insurance? | Since 1934, the Federal Deposit Insurance Corporation (FDIC) has been protecting depositors of insured banks against the loss of deposits if an insured bank fails. It is an independent government agency backed by the US government. |
| What is the standard deposit insurance amount? | $250,000 per depositor, per FDIC-insured bank, per ownership category |
| Do you need to apply for FDIC insurance coverage? | No, FDIC insurance coverage is automatic for Huntington Bank deposit accounts. |
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What You'll Learn
Huntington Bank is FDIC-insured
Since 1934, the Federal Deposit Insurance Corporation (FDIC) has been protecting depositors of insured banks against the loss of deposits if an insured bank fails. The FDIC is an independent government agency that protects consumers against the loss of their insured deposits if an FDIC-insured bank or savings association fails. The FDIC is backed by the US government, and you do not need to be a US citizen or resident to have your deposits insured by the FDIC.
Huntington Bank is an FDIC-insured bank. This means that deposit accounts at Huntington are automatically insured by the FDIC up to FDIC-established limits. The standard deposit insurance amount is $250,000 per depositor, per FDIC-insured bank, per ownership category.
The FDIC steps in to provide the depositor with the value of their accounts up to the insurance limits established by the FDIC if an FDIC-insured bank fails. Historically, the FDIC has paid the insured balance within a few days for personal accounts. Trusts and accounts held by third-party brokers might take longer due to the need to determine the coverage for each depositor.
Huntington Bank offers three main checking account options: Asterisk-Free, Perks, and Platinum Perks. The Huntington Asterisk-Free Checking® Account doesn't require an opening deposit or minimum account balance, and there is no monthly service fee. However, Huntington will charge a $3.50 fee when you use an out-of-network ATM. You can also open a Huntington Relationship Savings Account and link it to an eligible Huntington checking account to earn a slightly higher rate.
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$250,000 standard deposit insurance amount
The Federal Deposit Insurance Corporation (FDIC) has been protecting depositors of insured banks against the loss of deposits if an insured bank fails since 1934. It is an independent government agency backed by the US government. Huntington Bank is an FDIC-insured bank, which means that deposit accounts at Huntington are automatically insured by the FDIC up to the standard maximum deposit insurance amount of $250,000 per depositor, per FDIC-insured bank, per ownership category.
FDIC insurance is reassuring if your money is protected by the FDIC. It is important to understand what FDIC insurance is and what it can do for you so you can feel confident your money is protected. You do not need to be a US citizen or resident to have your deposits insured by the FDIC. Since cash at home can be lost or stolen, FDIC insurance is one reason why your money can be safer in a bank.
FDIC insurance covers anyone with an insured deposit account at an FDIC-insured bank. If an FDIC-insured bank fails, the FDIC steps in to provide the depositor with the value of their accounts up to the insurance limits established by the FDIC. The FDIC provides a tool to help you figure out your coverage.
It is important to note that not all bank accounts at an FDIC-insured bank will be deposit accounts. This coverage does not extend to stocks, bonds, annuities, safe deposit boxes (and contents), US Treasury Bills, and other investment accounts. Additionally, not all retirement accounts are FDIC-insured.
Huntington Bank offers a range of financial products and services, including checking accounts, savings accounts, money market accounts, loans, credit cards, and certificates of deposit (CD) accounts. Some of these accounts, such as the CD accounts, are FDIC-insured up to applicable limits.
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No FDIC insurance for investment products
Huntington Bank is an FDIC-insured bank, meaning that deposit accounts at Huntington are automatically insured by the FDIC up to established limits. The Federal Deposit Insurance Corporation (FDIC) has been protecting depositors of insured banks against the loss of deposits if an insured bank fails since 1934. The standard deposit insurance amount is $250,000 per depositor, per FDIC-insured bank, per ownership category.
However, it is important to note that not all products offered by Huntington Bank are FDIC-insured. Investment products, for example, are not FDIC-insured. This includes products and services offered by Huntington Financial Advisors® and The Huntington Investment Company, which is a registered broker-dealer and a registered investment advisor with the U.S. Securities and Exchange Commission (SEC).
Investment products offered by Huntington are also not bank-guaranteed and may lose value. This means that if you invest in these products and the bank fails, you will not be able to recover your losses through the FDIC. It is important for individuals to understand the level of protection offered by the FDIC and how it applies to their specific accounts and investments.
While investment products offered by Huntington may not be FDIC-insured, the bank does provide a range of other services that are covered by FDIC insurance. These include banking solutions such as loans and deposit accounts, as well as trust and investment management services provided by The Huntington National Bank.
In summary, while Huntington Bank is an FDIC-insured institution, not all of its products are covered by FDIC insurance. Investment products, in particular, fall outside the scope of FDIC protection and may expose investors to potential losses in the event of bank failure. Individuals considering investment products at Huntington should carefully review the terms and conditions and seek appropriate financial advice to ensure they understand the risks involved.
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FDIC insurance for deposit accounts
FDIC insurance, or Federal Deposit Insurance Corporation insurance, is a form of deposit insurance that protects consumers against the loss of their insured deposits in the event of their FDIC-insured bank or savings association failing. The FDIC is an independent government agency that has been protecting depositors since 1934 and is backed by the full faith and credit of the United States government.
Huntington Bank is an FDIC-insured bank, meaning that deposit accounts at Huntington are automatically insured by the FDIC up to the standard deposit insurance amount of $250,000 per depositor, per FDIC-insured bank, and per ownership category. This limit is per account holder, not per account. For example, a couple with a joint checking account that's FDIC-insured can receive insurance for up to $500,000 for the same shared account ($250,000 per co-owner).
FDIC insurance covers many common deposit accounts, including checking, savings, and other deposit accounts. It also covers certificates of deposit (CDs), negotiable order of withdrawal (NOW) accounts, money market deposit accounts (MMDAs), and other time deposit accounts. However, it's important to note that FDIC insurance does not cover investment accounts or non-deposit investment products such as stocks, bonds, mutual funds, and life insurance policies.
To determine whether your accounts are fully insured, you can use the FDIC Electronic Deposit Insurance Estimator (EDIE), an online tool that allows you to input dollar amounts you have on deposit in an insured bank or use a hypothetical scenario to determine your coverage.
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Huntington Bank's customer support
Huntington Bank is a member of the Federal Deposit Insurance Corporation (FDIC), which has been protecting depositors of insured banks since 1934. The FDIC is an independent government agency that protects consumers against the loss of their insured deposits if an FDIC-insured bank or savings association fails. The FDIC is backed by the full faith and credit of the US government. Huntington Bank deposit accounts are automatically insured by the FDIC up to the standard deposit insurance amount of $250,000 per depositor, per FDIC-insured bank, and per ownership category.
Huntington Bank offers a range of customer support options, including online banking, in-person branch visits, and telephone customer service. Customers can manage their accounts, make payments, and apply for loans or mortgages through online banking or the Huntington mobile app. For those who prefer in-person support, Huntington Bank has local branches where customers can meet with personal bankers to open accounts, apply for loans, or address any questions or concerns.
The Huntington Bank website provides detailed contact information for various departments, including customer service, insurance, investments, and mortgage support. Customers can call the general customer service line at 1-800-480-BANK (2265) from 7:00 a.m. to 8:00 p.m. ET daily. There are also specific phone numbers and hours of operation listed for different departments, such as insurance sales, investment services, mortgage customer service, and credit card customer service.
In addition to financial services, Huntington Bank prioritises community involvement and environmental stewardship. The bank has donated over $10 million to community programs, with employees dedicating more than 28,500 hours to supporting over 1,100 community organisations. Huntington has also invested more than $15 million in environmental projects.
Overall, Huntington Bank provides comprehensive customer support through multiple channels, ensuring that customers can easily access the assistance they need.
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Frequently asked questions
Yes, Huntington Bank is an FDIC-insured bank.
The FDIC is an independent government agency that protects consumers against the loss of their insured deposits if an FDIC-insured bank or savings association fails.
The standard deposit insurance amount is $250,000 per depositor, per FDIC-insured bank, per ownership category.
FDIC insurance covers deposit accounts, such as checking and savings accounts. Not all bank accounts at an FDIC-insured bank will be deposit accounts.
Yes, investment and insurance products offered by Huntington Bank are not FDIC-insured. These include certain trust and investment management services, securities, and insurance products provided by third-party insurance carriers.
