Huntington Bancshares Inc. has unveiled a new free checking account as part of the Columbus, Ohio, company's strategy to boost revenue with customer-giveaways rather than fee hikes.
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Huntington said in a press release Monday that its "asterisk-free" checking offers what other banks are beginning to charge for. It is free to open and has no monthly maintenance fee, minimum balance or rules governing check or debit card use.
The account is part of what Huntington calls "fair play" banking, a marketing and business strategy to bring in more customers by not raising prices and fees on basic banking services. It complements Huntington's so-called "24-hour grace" program, which gives people a day to make deposit to avoid overdraft fees.
