Business Overdraft and Return Fees Explained

Answer: 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 payments^Ɫ.

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 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 brings 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 for each time we return an item presented against your account and returned unpaid (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.

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. 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(sm). 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 returns.^¶
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 fee.

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

Answer: 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 alerts^†† 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.