PNC is offering a bonus of up to $300 for opening up a checking account. You’ll get either $50, $200, or $300 depending on which account you open. Details below!
Ninja Update 1/3/22: Deal has expired, but PNC is offering a bigger $400 checking account bonus now with similar terms as this one.
PNC Checking Bonus Overview
There are 3 different bonuses available: $50, $200, or $300. The bonus will be paid out 60 to 90 days after the requirements have been met.
The bonus amount you’ll get depends on which account you open with PNC:
PNC $50 Checking Bonus
- Open and use a new Virtual Wallet
- Have direct deposits totaling $500 or more into the new account in the first 60 days
PNC $200 Checking Bonus
- Open and use a new Virtual Wallet with Performance Spend Checking Account
- Have direct deposits totaling $2,000 or more into the new account in the first 60 days
PNC $300 Checking Bonus
- Open and use a new Virtual Wallet with Performance Select Checking Account
- Have direct deposits totaling $5,000 or more into the new account in the first 60 days
Who Qualifies For The Bonus?
Everyone qualifies for the bonus as long as you:
- Don’t have an existing personal checking account with PNC Bank
- Had a personal checking account with PNC Bank, but closed it more than 90 days ago
- Received a bonus offer from PNC Bank, but it was more than 12 months ago
Normally, they only give bonus for people who live in certain states (AL, DC, DE, FL, GA, IL, IN, KY, MD, MI, MO, NC, NJ, NY, OH, PA, SC, VA, WI and WV.), but there are no state restrictions for the current offer!
- $600 Citizens Bank Checking and Savings Bonus
- $600 Chase Checking and Savings Account Bonus
- $400 Wells Fargo Checking Account Bonus
Where Do I Enroll?
The PNC checking account bonuses can only be done online with the link above.
What Are The Details?
Household Limit: None (everyone in your family can get the bonus!)
Direct Deposit Required: Yes, one or more totaling $500 to $5,000 depending on the bonus (see what counts as a direct deposit)
Soft/Hard Pull: Soft
Early Account Termination Fee: $25 if closed within 6 months
The checking accounts have a monthly fee between $7 and $25, but they can be waived:
PNC Virtual Wallet ($50 Bonus):
You can get the $7 monthly fee waived if you do any of the following:
- $500 or more in your average monthly balance
- $500 or more in qualifying monthly direct deposits
- Be an account holder that is age 62 or older
PNC Performance Spend Checking Account ($200 Bonus):
You can get the $15 monthly fee waived if you do any of the following:
- $2,000 or more in your average monthly balance
- $2,000 or more in qualifying monthly direct deposits
- have $10,000 in your average monthly balance across all your PNC personal accounts
PNC Performance Select Checking Account ($300 Bonus):
You can get the $25 monthly fee waived if you do any of the following:
- $5,000 or more in your average monthly balance
- $5,000 or more in qualifying monthly direct deposits
- have $25,000 in your average monthly balance across all your PNC personal accounts and/or investments
Terms and Conditions
- You may earn a $300 reward if you open a new Virtual Wallet with Performance Select, a $200 reward if you open a new Virtual Wallet with Performance Spend or a $50 reward if you open a new Virtual Wallet . You will only be considered for one reward amount, which is based on the product type you open.
- To qualify for the reward, the new checking account must be opened online via the application link on pnc.com/virtualwallet between 10/1/20 to 10/29/20, and a qualifying Direct Deposit(s) must be received within the first 60 days.
- Your checking account must remain open in order for you to receive the reward, which will be credited to the eligible account within 60-90 days after all conditions have been met and will be identified as “Cash Trans Promo Reward” on your monthly statement.
- A qualifying Direct Deposit is defined as a recurring Direct Deposit of a paycheck, pension, Social Security or other regular monthly income electronically deposited by an employer or an outside agency into the Spend account of a Virtual Wallet with Performance Select, Virtual Wallet with Performance Spend or Virtual Wallet.
- The total amount of all qualifying Direct Deposits credited to your checking account must be at least $5,000 for Virtual Wallet with Performance Select, $2,000 for Virtual Wallet with Performance Spend or $500 for Virtual Wallet. Credit card cash advance transfers, transfers from one account to another or deposits made at a branch or ATM do not qualify as qualifying Direct Deposits.
- New account will not be eligible for offer if any signer has signing authority on an existing PNC Bank consumer checking account or has closed an account within the past 90 days, or has been paid a promotional premium in the past 12 months.
- If multiple accounts are opened with the same signers, only one account will be eligible for the premium. For this offer, signing authority will be defined by the customer name(s) and Social Security number(s) registered on the account.
- Offer may be extended, modified or discontinued at any time and may vary by market.
- The value of the reward may be reported on Internal Revenue Service (IRS) Form 1099, and may be considered taxable income to you. Please consult your tax advisor regarding your specific situation.
The Bottom Line
Depending on where you live, PNC Bank may not be as well known as other financial institutions, but they’re the 9th biggest bank in the United States. I wouldn’t worry about doing business with PNC.
This offer belongs to the best bank bonuses available due to how easy it is to open an account, the relatively low direct deposit requirements, and receiving the bonus fairly quickly.
Two things to note though based on recent feedback:
- I usually recommend funding with a credit card when opening a new bank account to earn free points/miles/cashback, but PNC codes credit card funding as a cash advance.
- It looks like PNC is sensitive to those who opened a lot of checking accounts recently. They use something called EWS (Early Warning Systems), which is similar to ChexSystems, so if you’ve opened a lot of checking accounts lately, you may need to wait a little while.