PNC $300 Checking Bonus [AL, DC, DE, FL, GA, IL, IN, KY, MD, MI, MO, NC, NJ, NY, OH, PA, SC, VA, WI and WV]

This has been extended until March 31st, 2018. Just realized this was first posted back in July 29th of 2016, so reposting in case people haven’t seen it before.

• Maximum bonus amount: Up to $300 
• Availability: AL, DC, DE, FL, GA, IL, IN, KY, MD, MI, MO, NC, NJ, NY, OH, PA, SC, VA, WI and WV
• Direct deposit required: $500-$5,000 depending on bonus
• Additional requirements: 10 debit card transactions
• Hard/soft pull: Soft 
• Credit card funding: Up to $2,000 with Visa or Mastercard
• Monthly fees: $7-$25, waive-able 
• Early account termination fee: $25 if closed within six months
• Household Limit: None
• Expiration date: June 30th, 2016 August 31st, 2016 September 30th, 2016 October 31st, 2016 December 31st, 2016 February 28th, 2017 March 31st, 2017 June 30th, 2017 September 30th, 2017 December 31st, 2017 March 31st, 2018 June 30th, 2018

The Offer

Direct link to offer

• PNC are back and offering up to $300 in checking bonuses. All of the bonuses require at least 10 debit card transactions. How much you’ll receive depends on the account you plan to open and is broken down as follows:
  • Open a Virtual Wallet Account and receive $50 with direct deposits totaling $500
  • Open a Virtual Wallet with Performance Spend and receive $200 with direct deposits totaling $2,000
  • Open a Virtual Wallet with Performance Select and receive $300 with direct deposits totaling $5,000

The Fine Print

• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
• You will only be considered for one reward amount, which is based on the product type you open
• Requirements must be met within 60 days of account opening
• 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 “Credits_Web_Promos” 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
• 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

Avoiding Fees

Virtual Wallet $7 Monthly Fee ($50 Bonus)

You can get this fee waived if you meet any of the following:

• Average monthly balance of $500 or more
• Qualifying direct deposit of $500 or more
• Provide proof of active enrollment in a qualifying educational institution (expires 6 years after the account is enrolled in the student banking program

Virtual Wallet With Performance Spend $15 Monthly Fee ($200 Bonus)

You can get this fee waived if you meet any of the following:

• Average monthly balance of $2,000 or more
• Qualifying direct deposit of $2,000 or more
• $15,000 in linked eligible accounts

Virtual Wallet With Performance Select $25 Monthly Fee ($300 Bonus)

You can get this fee waived if you meet any of the following:

• Average monthly balance of $5,000 or more
• Qualifying direct deposits of $5,000 or more
• $25,000 in linked eligible accounts

Early Account Termination Fee

There is an early account termination fee of $25. This is charged if you close your account within 180 days. There is some evidence to suggest that they don’t actually charge this fee, but YMMV.

Our Verdict

This is a good bonus, but PNC seems to offer bonuses of up to $400 with the exact same requirements,  that being said this $300 offer has now been going for a long time so maybe the $400 offer is a thing of the past. Keep in mind you can only get this bonus once every twelve months. We’ve added this bonus to our list of the top checking account offers.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications

Hat tip to reader Jay