Posted by William Charles on November 11, 2018
Savings Accounts

Published on November 11th, 2018 | by William Charles

194

PNC High Yield Savings Account – 2.35% APY [Excludes States With Branches]

Update 11/11/2018: Rate increased to 2.35% APY from 2.2% APY. Hat tip to reader Gerry. This is now the top high yield savings account.

Offer at a glance

The Offer

Direct link to offer

  • PNC now offers a high yield savings account offering 2.35% APY with no requirements or monthly fees

 

The Fine Print

  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Our Verdict

The top high yield savings accounts are currently offering 2.25%, slightly higher than this account. There is two reasons why you might choose this account over those:

Hat tip to readers 9ballAJ and the other readers who previously sent this in that I have unfortunately forgotten about.



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Mike
Mike

We’re sorry, but this product currently is not available in your area.
Please view our other savings products.

I am in Ohio

Sam
Sam

Same in Maryland!

dk
dk

Same in SC, and there,s actually a PNC branch here in the same zip code.

Aaron
Aaron

Same in Georgia

TWoK
TWoK

Same in Indiana.

Mike
Mike

Looks like only for regions that has no pnc branches.

Brandon
Brandon

I know some folks are frustrated at not having this available, but as a CO resident that has never been able to take advantage of PNC funding, I’m excited to give this a try.

Mr. PTM

+1

Jason_08
Jason_08

In NV, no branches, and available to me

Mel
Mel

Not available in North Carolina with a branch right around the corner from me.

shaky02dd
shaky02dd

Ditto the above for NY zip codes.

SP
SP

Central NJ didn’t work either

Jey
Jey

Thanks Doc, easy $2k spend on Hyatt Visa in Minnesota.

LiBingBong
LiBingBong

Nice! So funding with a CC counts as spending ?

LiBingBong
LiBingBong

And this should count towards new CC account bonus correct?

Ben
Ben

Got all the way thru the application process (after credit card funding), and then got an “Application Under Review” screen.

I already have a checking account, but I’m outside of the PNC coverage area (LA). I’ve had trouble opening a checking account for Player 2 (their website now seems to deny her based on zip code).

Seemed weird for it to kick me out *after* all the ID verification steps and CC funding… I wonder if it actually kicked me out *because* of CC funding.

Simon
Simon

under review is common for them – not kicking you out.

Ben
Ben

Yep, was just approved. Cool

Al
Al

Not available in FL

M
M

doesn’t work in DC area either

Frito Pendejo
Frito Pendejo

I got “not available in your area” in philadelphia area. There are a million PNCs around here.

PNC sucks now. They used to be great and my main bank for years. They started reducing benefits and adding fees. I just got off the phone with them the other day to fight off a $25 charge I received because they never processed my account downgrade properly. Took 30min and two CSRs to get it removed, plus 10min holding to get a human

calwatch
calwatch

Only valid in areas outside PNC’s home territory. There were articles in Reuters about how PNC is using this tactic similar to Chase’s Finn to expand to non-PNC markets cheaply. Also, note that Virtual Wallet Growth is now paying 2.25% for all tiers, provided you qualify for a “relationship rate” (basically five debit card transactions and/or minimum direct deposits). They want this to be your home account.

Matt
Matt

Does this “relationship rate” also only apply to areas outside PNC’s territory? I am seeing my relationship rate as still only 1.20%. The max is 1.7% but that is for $1,000,000.

calwatch
calwatch

Apparently so. They don’t feel the need to be competitive in the East Coast.

Lion Rock
Lion Rock

Can also confirm, I have a CT address and see in VW Growth a 2.25% relationship rate (which requires $5000 direct deposits or 5 debit card uses) and a 2.20% standard rate. All balance tiers.

devyanks90
devyanks90

Where are you seeing 2.20% APY? Their growth rate hasn’t been that high since 2009.

Calwatch
Calwatch

Look at the rate sheet for a West Coast zip code.

Ron
Ron

Not sure if it varies with location but I am showing in NJ highest rate is 1.7% (> 100K ) and that too for their Virtual Wallet with Performance Select (rates for the two other Virtual wallet account types are even lesser)
where do you see 2.25% interest rate for virtual wallet growth ?

JohnnyBoyJr
JohnnyBoyJr

I signed up for the $300 checking account bonus, and learned a few things. To be eligible, I needed to have $5k DD. I discovered that when I funded the account with $2k CC, it counted as DD. It also included “Virtual Wallet Performance Select” which basically gives you 3 internal accounts within your checking account. From there, I was able to downgrade to Virtual Wallet (no Performance Spend) to avoid the higher requirements, then transfer $$$ to my “Growth” account, which seems to be eligible for 2.25% if you make 5 purchases with a debit/credit card OR have $500 DD.

Here is LAG’s instructions on how to downgrade your account online:

From the home page:
Click “Virtual Wallet…” link
Click “Preferences” (Top-right, below tabs & “customer profile” info, right next to “Savings engine”)
Drag the spending/DD bar all the way to the left (lowest amount)
“Virtual wallet” edition will now show as an option on the right
Scroll to bottom & click “Change edition”

This will change your wallet to the lower $500.00 requirement immediately & all debit/acct # stay the same.

William F
William F

Did you ever receive the $300 bonus after downgrading?

Clifton

Has there ever been a sign up bonus on PNC Savings accounts? I just got the checking bonus so this is tempting but I don’t want to lock myself out of getting a sign up bonus in the future.

vince
vince

the fine print for checking account bonuses state you can’t be a holder of a checking account for x amoutn of days… nothing about savings though.

newbie
newbie

No go for Florida too

Adam
Adam

No-go for me in SE Wisconsin + Chicago area

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Not avail in NY or OH

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