Why This $400 Checking Account Bonus Is a Great Deal

I'm not a big fan of savings account bonuses, because they often require you to commit your money to a low-interest account for several months. But checking account bonuses can be a much better deal. The best checking account bonuses give you a few hundred dollars for opening a new checking account and meeting a few requirements, like setting up direct deposits or making a minimum number of debit card transactions.

Huntington Bank is offering an intriguing $400 bonus if you open a new checking account by June 22, 2024. If you're looking to switch banks, or open a separate checking account for certain financial goals, this could be a good occasion.

Let's look at the Huntington Bank $400 checking account bonus, and why it's competitive with the best bank bonuses.

Huntington Bank: Get $400 for opening a new Huntington Perks Checking℠ account

First, it's important to note that Huntington Bank's checking account bonus is (unfortunately) not available nationwide. This special offer is only available to people who live in the following states:

• Colorado
• Illinois
• Indiana
• Kentucky
• Michigan
• Minnesota
• Ohio
• Pennsylvania
• South Dakota
• West Virginia
• Wisconsin

If you do reside in one of Huntington's footprint states shown above, you can open a new Huntington Perks Checking℠ account online or at a Huntington Bank branch and begin the process of qualifying for your $400 bonus.

$400 Huntington Bank bonus: How to qualify

The Huntington Bank $400 checking account bonus is a great deal, because unlike some banks, Huntington doesn't make you jump through a bunch of hoops. It's straightforward and simple to get this $400 bonus, and lots of people could qualify for it, even if you don't have a high income.

Here's what you have to do to get your Huntington Perks Checking℠ bonus:

1. Open a new, qualifying Huntington Perks Checking℠ account by June 22, 2024.
2. Within 90 days of opening your account, set up the account with a qualifying, regular, periodic ACH direct deposit. This could include payroll, pension, or government benefits payments (like Social Security).

That's all! No more steps. And another good thing about this bonus: your direct deposit doesn't have to be for any specific minimum amount. Some other banks offer bonuses that sound good at first, but they make you deposit huge amounts of money -- like $10,000 to $15,000, or more!

Huntington Bank is making a fair, generous offer to new checking account customers. Even if you're not a high earner with thousands of dollars in your savings account, if you want a new checking account, Huntington is offering an extra $400 to help sweeten the deal.

What you get with Huntington Perks Checking℠

The Huntington Perks Checking℠ account has some worthwhile features and benefits that can make it a good fit for a wide range of customers. With this checking account, you get:

• Five free non-Huntington ATM withdrawals per month
• Huntington Heads Up® alerts about your account
• Free credit score monitoring
• Interest income at a rate of 0.02% APY

Huntington Bank checking accounts also offer a few unique, customer-friendly programs to help people avoid overdraft fees. Its $50 Safety Zone® guarantees no overdraft fees if you overdraw by $50 or less. And in case you have an overdraft larger than $50, Huntington's 24-Hour Grace® feature will give you an extra day to make a deposit to fix your account balance -- with no overdraft fee or returned transactions.

Keep in mind that the Huntington Perks Checking℠ account charges a $10 monthly fee. But you can avoid this fee by making at least $1,000 of direct deposits per month, or by having at least $5,000 of deposits across your entire banking relationship with Huntington.

Bottom line

Huntington Bank is not the largest bank in America, but it delivers outsized value with its innovative digital features and customer-friendly, generous perks on its checking accounts. Unfortunately, Huntington Bank's savings account APYs are a lot like the big banks with near-zero APYs -- Huntington is nowhere near competitive with the best savings accounts or money market accounts.

But the Huntington Perks Checking℠ $400 account bonus is a great deal and easy to earn. Unlike some big banks' bonuses, you don't need tens of thousands of dollars to qualify. If you reside in one of the eligible states, and you're thinking about opening a new checking account, consider signing up for the Huntington $400 checking bonus by June 22, 2024.