Huntington Bank is nearly done phasing out overdraft penalties, a process that it began about three years ago.
In February 2011, the bank eliminated its $10 overdraft protection transfer fee for customers. It now is in the process of terminating this charge for small businesses that bank with it, with an April 1 deadline for completion.
According to a Huntington spokesman, the move is part of the bank's "fair play" philosophy. "It's a good day for consumers and businesses," he states. "We decided to be different from other banks and find ways to have consumers keep their money."