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PNC Bank Review 2022
Member FDIC
Savings account
Member FDIC
Savings account
Member FDIC
CD
Member FDIC
CD
Member FDIC
Checking account
Overall
3.9
Bankrate Score
PNC is a large bank that operates in parts of the Northeast, South and Midwest.
The 2021 acquisition of BBVA USA expanded PNC’s presence to also include parts of the West Coast.
What we like
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It boasts a competitive APY on its online-only savings account (only available in certain states).
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PNC supports about 2,700 branches.
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The bank provides above-average digital banking features.
What we don't
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At $36, its overdraft fee is higher than average.
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Navigating and comparing various bank products online can be difficult.
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The High Yield Savings is only available in certain states.
Savings accounts
5.0
Bankrate Score
Member FDIC
Savings account
PNC’s High Yield Savings account offers a competitive yield and it doesn’t require a minimum opening deposit. The account isn’t tiered, so the minimum balance to start earning this APY is $1.
However, the account isn’t available in PNC’s branch banking footprint, so not everyone will have access to the product. Unfortunately, the states in PNC’s traditional market earn a lower yield on its Standard Savings account.
What we like
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PNC High Yield Savings offers a top-tier APY in certain states.
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PNC High Yield Savings account makes available an ATM card.
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The High Yield Savings account doesn’t charge a monthly service charge.
What we don't
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Even with the PNC High Yield Savings account, there may be some higher APYs available.
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The PNC High Yield Savings account isn’t available in all states.
Money market accounts
2.4
Bankrate Score
Those residing in PNC's traditional market have access to the Premiere Money Market Account with tiered interest rates.
Receiving $2,000 in qualifying direct deposits in the previous calendar month or making at least five debit card transactions with your Performance Select Checking account are examples of how to get a higher APY.
Only $100 is required to open this account. But you’ll need to keep at least $5,000 in this account to avoid the monthly service fee.
The Premiere Money Market account comes with a PNC checking card. But the card can’t be used for purchases.
What we like
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Only a $100 deposit is required to open an account.
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A free PNC banking card is available with this account.
What we don't
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This account doesn’t support check-writing privileges.
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You can find higher yields elsewhere.
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Some banks don’t have a minimum deposit amount required to open an account.
CD rates
2.8
Bankrate Score
Member FDIC
CD
PNC Bank customers have access to a wide range of CDs.
However, the three-month CD and the three-year CDs are the only two terms that can be opened online, according to PNC’s website.
The 13-month CD, which is the CD term Bankrate scored, only requires $1,000 to open. However, you can find more competitive CD rates at a variety of other banks.
What we like
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Customers interested in CDs have many different options.
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The relatively low minimum deposit for the 13-month CD makes it rather accessible.
What we don't
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All CD yields are low compared with what online banks offer.
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For most of the CDs, you have to go to a branch to open one.
Checking accounts
4.3
Bankrate Score
Member FDIC
Checking account
The PNC Bank Standard Checking only requires $25 to open the account. You’ll need to keep at least $500 in the account to avoid the $7 monthly service fee.
Another option is the Virtual Wallet Checking Pro with Spend, Reserve and Growth, which is an interest-bearing account. The account doesn’t require a minimum opening deposit and it doesn’t have a maintenance fee. The account will also alert you if you’re low on cash in a bid to help you avoid overdraft fees.
What we like
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The Standard Checking account only requires a $500 balance to avoid the monthly service fee.
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Only $25 is needed to open the Standard Checking account.
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The bank’s mobile app includes visuals that help you understand where your money is going.
What we don't
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Customers are charged $36 for each overdraft.
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The Standard Checking doesn’t pay customers any interest.
Bank experience
At PNC Bank, you will get access to around 2,700 branches.
You won’t have to sacrifice the digital banking experience either. There are all kinds of features designed to help you manage your money. For example, you can pay people with Zelle using the bank app. You can also find nearby ATMs using the app and see visuals of where your money is going.
At PNC, you can also reach customer care consultants seven days a week. While they aren’t available 24/7, the hours are flexible. On weekdays, you can reach specialists from 7 a.m. until 10 p.m. Eastern. On weekends, you can reach them from 8 a.m. until 5 p.m.
About PNC Bank
Founded as Pittsburgh Trust and Savings Co., PNC Bank is one of the largest banks operating in the U.S. It offers a full suite of retail, commercial and small-business products.
In 2008, it acquired the troubled Cleveland-based National City Corp. That transaction roughly doubled the bank’s size. In June 2021, PNC acquired BBVA USA . Nowadays, PNC supports around 2,700 branches from coast to coast.
Karen Bennett is a consumer banking reporter at Bankrate. She uses her finance writing background to help readers learn more about savings and checking accounts, CDs, and other financial matters. Karen brings decades of writing and reporting experience to the table, including the roles of credit cards writer for travel website Million Mile Secrets and money and career writer for The Cheat Sheet. Her work has also appeared in USA Today, Illinois Legal Times, and several Chicago, Milwaukee, and Washington, D.C. newspapers. In addition, she’s worked in the areas of marketing and business development, and she was product manager for a consumer money-saving website. When she’s not writing Bankrate articles, she can often be found cheering her kids on at soccer games, cooking and reading up on saving for retirement and other personal finance topics.
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