Huntington Instant Payments℠ (HIP)
Claim more control over your business’s cash flow with a new system that makes payments immediate and predictable.
Huntington Instant Payments expedites funds availability, simplifies processing, and integrates information sharing. Now, payments can be sent, received, and credited within seconds to help better manage cash flow, receive goods faster, and solve reconciliation issues.
Huntington Instant Payments offers accelerated money movement combined with integrated invoice detail, enabling you to send and receive funds at any time, on any day of the week.
Payments Made Simple
Quick
Send and receive money 24/7, 365 days a year. Funds are available within seconds.
Secure
Payments are always a credit push so you have control over who you pay and when.
Informative
Ability to include a message so more detailed information is provided with payment remittance.
The Power of Enhanced Data Sharing and Communication
Huntington Instant Payments simplify the payment process by digitizing the movement of funds and the exchange of information to create transparency between the payer and payee, reducing cash float and improving the reconciliation process.
How Huntington Instant Payments benefits your business
HIP is an innovation designed for the digital age, allowing for accurate, instant payments to improve cash flow and keep your business moving. See how the key features of Huntington Instant Payments positively impact your business.
Efficient Reconcilement
Link invoice details and payment-related data to allow for automated reconcilement.
Improved Communication
Facilitate dialogue between buyer and seller with messaging capabilities.
Enhanced Access
Supports immediate distribution and access of funds in emergency situations.
Request for Payment Functionality
Certain account types can receive a request for payment message that can be responded to with an instant payment.
Streamlined Processes
Eliminates late fees or service disruption when immediate payment is needed.
Rapid Delivery
Accelerates delivery of goods and services in cash on delivery arrangements.
Punctual Payments
Aligns payment with the day the work is completed.
Improved Cash Flow
Hold on to cash longer, paying invoices on the day they are due.
FAQs
Answer:
Huntington Instant Payments support how people live and work today by delivering a faster payment solution. Huntington participates in The Clearing House (TCH) Real Time Payments (RTP) network. TCH is a payments company that is owned by the largest commercial banks–including Huntington– and they developed the RTP network to address the increased demand for faster, safer payment methods. The TCH RTP network clears and settles payments 24/7/365, allowing for the prompt delivery and availability of funds.
Answer:
Simply provide your Huntington routing number and account number to a payer that is able to send credits through the TCH RTP network. Huntington Instant Payments will be directly credited into your account similar to other types of electronic transactions. You will be able to view your transaction details in online banking or on your account statement.
Answer:
Provide your Huntington routing number and account number to a biller that is able to send RFP messages through the TCH RTP network. You will be able to view your RFP messages in Payment Center, BOL, or ROL and can respond with a Huntington Instant Payment.
Answer:
HIP payments can be sent using Huntington's Payment Center and/or Integrated Payables Treasury Management solutions.
Answer:
You will be able to view your transaction details through an online and mobile banking portal, or on your account statement.
Answer:
Yes. HIP transactions move directly through banking channels and are protected by bank security measures.
Answer:
HIP is real time, allowing you to optimize your cash flows with immediate payment and settlement. HIP credits posted to your account will be available within seconds. HIP also provides improved communication between the payer and payee by giving the payer the option to include additional information like remittance data with the transaction.
Answer:
Since the HIP network transacts 24/7/365, HIP credits are available in your Huntington deposit account within seconds.
Answer:
Business customers may contact Huntington at 1-800-480-2001 regarding a dispute or to request that a block be placed on their account to prevent all HIP credits from posting.
Answer:
The HIP network is designed to address unmet customer needs across all customer segments (B2B, B2C, C2B, P2P, A2A, G2C, etc.). Consumers, businesses, and the government can use the HIP network in different ways. Consumer accounts are able to receive Huntington Instant Payments. Business and Government accounts are able to send and receive HIPs.
Answer:
Yes, the credit transfer limit is currently $1,000,000.
Answer:
Once funds are authorized and submitted, funds may not be recalled, but the network does help facilitate communication around return of funds sent in error.
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Huntington Instant Payments is a registered service mark of Huntington Bancshares Incorporated.