Huntington Bank is an American financial company headquartered in Columbus, Ohio. The institution occupies the 521st position on the Fortune 500. Also, it occupies the 26th position on the list of largest banks in the United States. Huntington provides various online banking solutions, mortgages, loans, investing, credit cards, small businesses, personal and commercial financial services. You will learn about Huntington Bank wire transfers later.
Wire transfer is among the most used ways to move money from one bank to another. The money transfer method allows sending large amounts of money to others domestically or internationally. You can send money directly from your bank account or use a third-party platform. Some third-party companies include Western Union, MoneyGram, Ria, and Wise. You only require a few details to transfer money through a wire transfer.
Even though a wire transfer is not the best money transfer method, it remains useful. The only major issue with the option is that you can find it challenging to reverse money sent to the wrong recipient. You may not get your money back because transactions happen instantly, which is contrary to ACH transfer, which almost works like the wire method. ACH funds may remain pending for up to 3 days, and you can cancel if necessary.
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Ways to make international wire transfers with Huntington Bank
If you need to send money to an international recipient, Huntington Bank can be helpful. The bank allows a couple of ways to make an international wire transfer. However, the method you can use depends on the type of account you hold with the bank. The following are the ways you can transfer finances internationally.
If you are a business account holder, you can quickly send funds worldwide by logging into your online account with your ID and password and then using the International Wire Transfer feature for your transfer. You will get guidelines all along until you complete your transfer.
2. In person at a local branch
Another way you can make wire transfers is by sending your funds in person at the nearest Huntington Bank branch. Sending money at a branch is the only way you can use to send wires for a personal account holder. Once you visit your branch, you can ask one of the bank tellers to initiate your transfer after verifying your details.
3. By phone
The third option you can use to send funds internationally via wire transfer is by phone. The method applies to business account holders. You can wire money internationally over your phone using your previously created ID and password. You only need to follow the prompts.
Documents or instructions needed to make an international wire transfer
- To make your wire transfer, you require the following.
- Your account number
- Your name and bank name
- Recipient bank name
- Your recipient’s name
- The recipient’s account type plus account number for international payments
- SWIFT code for the recipient’s bank
- The amount plus the currency you want to transfer
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Domestic Wire Transfer to The Huntington National Bank
If you are receiving a domestic transfer to your Huntington Bank, you should provide the sender with your routing and account numbers. The account number identifies you in the bank, while the routing number identifies Huntington Bank.
Transferring money between various financial companies without a routing number would be difficult. A routing number is usually unique to a particular bank or credit union.
Documents or instructions needed to make a Domestic wire transfer
Apart from making an international wire, you can still make a domestic wire transfer. The following are the steps you require for your transfer.
- Recipient bank name (the bank receiving the money)
- The American Bankers Association (ABA) routing number of the recipient bank.
- Recipient’s account number.
- Any other additional information needed.
Domestic wire transfers complete faster compared to international transfers. The recipient can have their money within 24 hours.
Wire Transfer Fees for The Huntington National Bank
Wire transfers attract fees. The fees vary from one bank to the other. Again, fees apply to both the sender and the recipient. The Huntington Bank transfer fees include the following.
- Transfers to and from Huntington bank accounts: $10.00
- Outgoing domestic wire transfer fees: $25.00
- Incoming domestic wire transfer fees: $15.00
- Incoming foreign wire transfer fees: $15.00
- Outgoing foreign wire transfer fees: $75.00
Additionally, the bank charges customers $31.00 to stop an already initiated payment, and $10.00 for every transfer returned to the bank.
Sending Wire Transfer From The Huntington National Bank
To send wires from the bank, you only need to ensure that you have enough money in your account to send a particular amount. As I mentioned, you can send money at a branch, over the phone, or online depending on your account. You may also use third-party platforms such as Wise to send money.
Huntington Bank international transfers can take 2 days or more to arrive. There is no specific time when money should arrive. You can get an estimation of the day your funds may arrive from the bank officials.
Benefits of Huntington Bank wire transfer
You can get a few benefits from the bank’s wire transfer. They include the following.
- Various options to send wires: over the phone, online, and at a branch.
- FDIC secures the funds
- You can stop a wire transfer, although it is expensive. You must pay $31.00 to stop an already initiated payment.
Drawbacks of Huntington Bank wire transfer
Despite the good things about the bank’s wire transfers, there are still drawbacks associated with the institution.
- High transfer fees: You can pay up to $75.00 per transfer to send money overseas.
- Lack of transparency about foreign currency exchange rates. You can only contact the bank directly to know the rates.
- Limited accessibility. The bank only operates in 11 states in the United States. These include Ohio, Colorado, Illinois, Kentucky, Michigan, Indiana, Minnesota, South Dakota, Pennsylvania, and West Virginia.
Huntington Bank wire routing numbers
When initiating a wire transfer to Huntington, you should use 044000024. However, the number may vary from one state to another, which is important to confirm. You can check your account and routing numbers in Online Banking or at the bottom of your check.
Alternatively, you can get the bank’s routing number by calling the customer care number and stating your location to get a routing number relevant to your place.
Frequently Asked Questions (FAQ)
Why do I have to pay a wire transfer fee?
Wire transfer fees exist in part because there's a cost to send money between banks. But wire transfer fees are also a source of revenue for banks, similar to the monthly maintenance fees charged on checking and savings accounts.
Who is responsible for wire transfer fees?
The person initiating the transaction must usually pay a transaction fee before the bank will wire the funds to the other party.
What is the maximum amount for wire transfer?
The transfer limit for bank wires is $100,000 per day, per client. The minimum amount for each bank wire is $100.
Conclusion on Huntington Bank Wire Transfer: Fees, Instructions, Benefits
Huntington Bank is an American financial company headquartered in Columbus, Ohio. The institution occupies the 521st position on the Fortune 500. Also, it occupies the 26th position on the list of largest banks in the United States. Wire transfer is among the various services you can get from the financial company. You can send domestic and international wires with Huntington Bank.
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