Huntington Bank has launched Caregiver Banking, a financial tool designed to help individuals monitor and support the financial well-being of loved ones who may need assistance. The service allows account holders to grant limited access to a trusted caregiver, enabling oversight of transactions without relinquishing financial control.
A financial tool for oversight and protection
Caregiver Banking is aimed at providing an additional layer of security for individuals who may be vulnerable to financial mismanagement or fraud, such as aging adults, individuals in recovery, or adults with disabilities. Unlike a joint account or power of attorney, this service allows designated caregivers to view account activity, track expenses, and identify suspicious transactions while ensuring that the account holder remains in control.
By offering visibility into financial activity, Caregiver Banking can help prevent common issues such as missed bill payments, accidental transactions, or fraudulent charges. The tool is intended to serve as a safeguard, rather than a mechanism for direct financial control, allowing caregivers to step in only when necessary.
Enrollment and security measures
To enroll, the account owner must log into their Huntington Bank online or mobile banking platform, activate access sharing, and invite a caregiver. The invited individual does not need to be a Huntington customer, and each caregiver receives a separate login, ensuring that the account holder’s credentials remain private.
Huntington Bank has implemented security features to protect both account holders and caregivers, including account monitoring and controlled access settings. The ability to grant and revoke access at any time provides flexibility, allowing users to adjust permissions as needed.
A growing focus on financial security
With financial scams and fraud targeting vulnerable individuals on the rise, banks and financial institutions are increasingly developing tools to enhance security and oversight. Caregiver Banking represents a step toward addressing these challenges while preserving financial independence for those who may need support.
