Huntington launches 'Asterisk-Free' checking

Huntington Bancshares Inc. has launched a fee-free, perk-enhanced checking account.

The new account, rolled out on Monday, is meant to stand out against what executives see as a proliferation of charges, restrictions and hurdles at competing banks.

“They’re spending more time figuring out how to make fee income by charging customers more for checking accounts, getting rid of debit rewards and even charging for debit cards,” said Mary Navarro, Huntington’s director of consumer and business banking. “Our whole interest here is to be fair and easy to deal with.”

Huntington (NASDAQ:HBAN) said the "Asterisk-Free" accounts are free to open, don’t have a monthly maintenance fee or minimum balance requirement, and don’t have a check or debit card usage requirement. It includes a linked savings account and a free identity theft resolution service, the bank said.

Asterisk-Free Checking is part of the bank’s “fair play” banking approach, which it rolled out in September.

“And this isn’t the last thing we’re going to do under the fair play philosophy,” Navarro said.

The Midwestern market is fiercely competitive and Huntington CEO Steve Steinour has repeatedly said the institution is more interested in clawing its way past competitors than buying other banks, although it has left the door open to acquisitions.

Navarro said what the bank misses out on in fees, it hopes to make up for by bringing in more customers.

Read more: Huntington launches 'Asterisk-Free' checking | Dayton Business Journal