Posted by William Charles on January 6, 2019
Bank Account Bonuses

Published on January 6th, 2019 | by William Charles

49

PNC Up To $200 Business Checking Bonus

Unfortunately doesn’t look like this is nationwide.

Update 1/6/19: Bonus is back and valid until March 31st, 2019. Highest bonus is $200, keep in mind we’ve seen PNC bonuses as high as $400 before (same requirements as now, but an extra $100 per level and the higher level also available).

The Offer

Direct link to offer

  • PNC is offering a bonus of up to $200 when you open a business checking account. Bonuses are as follows:
    • Earn $100 with a business checking account when you complete the following requirements:
      • Maintain the minimum average cycle balance of $1,500 for each of the first 3 statement cycles
      • Make at least 10 total qualifying PNC Bank Visa® Debit Card transactions and/or PNC Bank Mobile Check Deposits[3] within the first three statement cycles
    • Earn $200 with a business checking plus account when you complete the following requirements:
      • Maintain the minimum average cycle balance of $5,000 for each of the first 3 statement cycles
      • Make at least 10 total qualifying PNC Bank Visa® Debit Card transactions and/or PNC Bank Mobile Check Deposits[3] within the first three statement cycles
    • Earn $300 with a business checking preferred account when you complete the following requirements:
      • Maintain the minimum average cycle balance of $25,000 for each of the first 3 statement cycles
      • Make at least 10 total qualifying PNC Bank Visa® Debit Card transactions and/or PNC Bank Mobile Check Deposits[3] within the first three statement cycles

 

The Fine Print

  • You will only be considered for one reward amount, which is based on the product type you open. You may earn a $100 reward if you open a new PNC Business Checking account. You may earn a $200 reward if you open a new PNC Business Checking Plus account. You may earn a $300 reward if you open a new PNC Business Checking Preferred account
  • To qualify for the reward, the new checking account must be opened between 01/01/19 and 03/31/19 and the following conditions must be met:
    • (a) average cycle balance of $1,500 must be maintained for each of the first three statement cycles to qualify for the $100 reward; $5,000 to qualify for the $200 reward; or $25,000 to qualify for the $300 reward and
    • (b) at least 10 total qualifying PNC Bank Visa Debit card transactions and/or PNC Bank Mobile Check Deposits must be made within the first three statement cycles.
  • Your checking account must remain open in order for you to receive the reward, which will be credited to the eligible account within 90 days after all conditions have been met and will be identified as “Credits NEW BUS BONUS” on your monthly statement. (c) Only business checking accounts with statements that cycle monthly are eligible for this offer. Business checking accounts that receive statements daily, weekly, or quarterly are ineligible. Already established, converted or repurposed PNC checking or savings accounts are not eligible.
  • Average cycle balance is defined as the average total within your business checking account at the end of your statement cycle. Average cycle balance of $1,500 must be maintained for each of the first three statement cycles to qualify for the $100 reward; $5,000 to qualify for the $200 reward; or $25,000 to qualify for the $300 reward.
  • A qualifying debit card transaction is defined as any debit card purchase made at point of sale using your signature or PIN; a purchase made electronically or online using your debit card number, including recurring payments; or the use of your debit card at an ATM to deposit a cash or check or to withdraw cash. A PNC Bank Mobile Check Deposit is defined as the deposit of a check made using your PNC Bank Mobile Banking app. Any combination of qualifying PNC Bank Visa Debit card transactions and/or PNC Bank Mobile Check Deposits are acceptable but must equal 10 within the first three statement cycles.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

All of the business checking accounts have the monthly waived for the first three months.

Business Checking ($100 Bonus)

This account has a monthly fee of $12 and is waived if you do ONE of the following:

  • Make $1,000 in business credit card purchases with a linked PNC credit card
  • Maintain an average minimum monthly collected balance of $1,500

Business Checking Plus ($200 Bonus)

This account has a monthly fee of $20 and is waived if you do ONE of the following:

  • Make $2,000 in business credit card purchases with a linked PNC credit card
  • Maintain an average minimum monthly collected balance of $5,000
  • Maintain average combined business loan balances of at least $40,000
  • Maintained an average combined collected balance in linked business checking and money market accounts of $20,000
  • Maintain a Visa Signature BusinessOptions credit card
  • Maintain any one of these additional PNC business services:
    • Deposit On-Site®
    • DepositNow®
    • PINACLE®
    • Cash Logistics
    • Remote Safe
    • Cash Flow Insight® Payables
    • Cash Flow Insight Receivables

Business Checking Preferred ($300 Bonus)

This account has a monthly fee of $50 and is waived if you do ONE of the following:

  • Make $1,000 in business credit card purchases with a linked PNC credit card
  • Maintain an average minimum monthly collected balance of $25,000
  • Maintain average combined business loan balances of at least $75,000
  • Maintain a Visa Signature BusinessOptions credit card
  • Maintained an average combined collected balance in linked business checking and money market accounts of $50,000
  • Maintain any one of these additional PNC business services:
    • Deposit On-Site®
    • DepositNow®
    • PINACLE®
    • Cash Logistics
    • Remote Safe
    • Cash Flow Insight® Payables
    • Cash Flow Insight Receivables

Our Verdict

Update: Not sure if it’s still worth waiting considering it’s been two years since we’ve seen that higher bonus.

They had the same promotion last year, but every bonus was $100 higher. Personally I’d just recommend waiting until that offer comes back as PNC usually cycles between a high and low offer like this and the promotion is literally the same except this is $100 less across all three promotions. You can view a full list of the checking bonuses we do recommend here.

Big thanks to reader, YAR who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:



49
Leave a Reply

avatar
 

  Subscribe  
newest oldest most voted
Notify of
Wisco
Wisco

didnt see one anywhere in the fine print, but is there a limit to people that have had a business account previously (now closed)?

Ken
Ken

Please change first line in the article from $400 to $300.

Pete
Pete

It states that it’s limited to those locations, but do you have to reside there? I have a trip to the east coast next month and could find a branch.

Sophia Petrillo
Sophia Petrillo

I tried to open this online (I am a sole prop) and at the end of my application they told me someone would be in touch within 3 business days. Had to have a 20 minute conversation via phone with a banker, who decided the business checking was best for me (only $100 bonus) and I still had to go into branch to open the account. Decided it wasn’t worth the hassle.
Just wanted to share my experience.

C Doc Fan
C Doc Fan

I applied in Branch, but had a similar experience. They had me fill out a survey about my business then called a business banker whom looked over the information. Because my business is relatively new (<2 Years) and low income she recommended the Basic Checking. I asked to open the checking plus anyways. Said over last month my business had grown a lot and I wanted to go ahead and get everything set up correctly today.

The whole process took an hour. IMO, not worth it now that they lowered the bonus amount.

SamSimon
SamSimon

Is PNC become very Chexsystem/Early Warning sensitive for opening accounts online? AS I know PNC now using Early Warning.
First family member: Has been having virtual wallet with PNC for 5 months. Tried to open separate savings account. After verification question which were answered 100% correctly – message “Identity Verification”. Tried to apply two times within 15 days resulting with same message. Opened 10 new checking/savings accounts within a year with other banks.
Second person, had PNC bank account for 1 year, closed 3 months ago. Now Tried to apply online for savings account. Same issue “Identity Verification”. 7 New checking/savings accounts within a year with other banks.
Third person, never had PNC accounts, same results for savings account. 8 New accounts with other banks within 1 year.

Jim
Jim

Sadly sounds pretty similar to many Redditors’ experiences. In branch, they may explicitly mention denied due to EWS profile, but online, the app just stops after verification questions.

Suggest you request your EWS reports and see if they’re filled with PNC inquiries… A family member got ~6 inquiries from PNC alone last year, basically PNC exacerbating the issue by itself

SamSimon
SamSimon

I see. Thanks for confirmation. I don’t use Reddit.
I will get report and dispute all inquiries!
I think they care a little about inquiries – but they do care much about opened accounts within a year.
PNC Rep. suggested to apply over the phone because I have such “bad experience” I thought about it and then I found another 2 banks which allow me to fund NEW accounts with Credit card. And I told PNC that I no longer want to open anything or do any business with them. I will try with hopes another bank will work with my credit card funding!

Jim
Jim

Please do share these other accounts with CC funding 🙂

SamSimon
SamSimon

DOC, Where is my comment? Why your site link goes to per-verification? Third party links I would understand but not your DOC’s links! Please take a look at this issue!

SamSimon
SamSimon

4 days have past and my comment still pending somewhere…

SamSimon
SamSimon

Jim, also for PNC rejection might be if one of your credit bureau is on freeze…
I will try to use Provident Bank and First State Bank Of Illinois (Fortress Bank)

SamSimon
SamSimon
Frank
Frank

Can you open again if you opened one last year and just closed?

Chris
Chris

Is business acct under my name or my business’s name? I am asking because to link my personal checking acct to the business acct for ACH transfer, the business acct has to be under my name for the link to work. I am also wondering about the tax implication moving money out of business acct, won’t any money going from business acct to personal acct be treated as income?

Chris
Chris

Is business acct under my name or my business’s name? I am asking because to link my personal checking acct to the business acct for ACH transfer, the business acct has to be under my name for the link to work. I am also wondering about the tax implication moving money out of business acct, won’t any money going from business acct to personal acct be treated as income?

Yet Another Redditor

William Charles The text/link “checking bonuses we do recommend ehre” has a typo and does not actually link to the best (business) checking accounts page.

DRT
DRT

Didn’t see the location-specific language in the terms, but my CA ZIP isn’t accepted

Chris
Chris

Sadly you can’t finish the whole application online as they push you to complete it in a branch

SamSimon
SamSimon

Probably there is issue to identify you and that’s why they are asking to stop by at the branch but usually banks just ask for documents to be mailed, faxed or emailed to them…..

Chris
Chris

Their webpage states the following: “Then, visit your local branch.
to finish your paperwork and submit your signature card.”

SamSimon
SamSimon

Sorry, but who cares about their webpage, there are 100 contradiction if you know always with online, branches, over the phone, different bankers or reps, even managers, and supervisors etc….. so better call them and ask, also mention what about if person doesn’t have a branch near them….

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Let me apply online with zip code 14052 (NY)
Got this emailed to me
“Thank you for choosing PNC Bank. The reference number for your recently submitted new Business account application is XXXXXXXXXX.

Products you applied for:
Business Checking Plus

One of our business banking representatives will be in contact with you within 1-2 business days.

If you have any questions or need additional assistance, please call us at 1-877-BUS-BNKG.

Sincerely,
PNC Bank.

Might be worth mentioning I do have personal account and savings with them. I did sole prop. with my SSN.

Will report back on outcome and CC funding.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Was called and told to finish in branch. I applied from Buffalo NY. Fortunately the school I attend in Ohio is .6 miles away from the branch. So looks like I’ll be getting the bonus.

Gotham
Gotham
Slip6
Slip6

Any DPs yet on if you can fund $2K with a credit card for the business accounts (as is possible with personal accounts)?

bax
bax

No online CC funding, as the app says “start online” and a biz banking rep will contact in 1-2 days after submitting the app, to be completed in branch with documentation.

scott
scott

+1: ‘Start Online’. Application completed in-branch only.

Back to Top ↑