Posted by William Charles on August 27, 2015
Bank Account Bonuses

Published on August 27th, 2015 | by William Charles

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[Expired] PNC Up To $400 Checking Bonus – Available Nationwide

Offer at a glance

  • Maximum bonus amount: $400 
  • Availability: Previously this deal has been restricted to: AL, DC, DE, FL, GA, IL, IN, KY, MD, MI, MO, NC, NJ, NY, OH, PA, SC, VA, WI and District of Columbia. But this no longer seems to be the case.
  • Direct deposit required: $2,000-$5,000 depending on bonus
  • Additional requirements: One bill pay 
  • 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
  • Expiration date: December 31st, 2015

Update 11/12/15: They have now updated this offer and it’s much more restricted than before.

The Offer

Direct link to offer

There are actually four separate bonuses on offer depending on which account you select, let’s have a look at each one:

  • Virtual Wallet with Performance Spend: Earn a $200 bonus when you do the following:
    • Open a new Virtual Wallet with Performance Spend
    • Establish a qualifying direct deposit of $2000 to your new account
    • Make at least one payment with PNC Online Bill Pay
  • Performance Checking: Earn a $200 bonus when you do the following:
    • Open a new Performance Checking account
    • Establish a qualifying direct deposit of $2000 to your new account
    • Make at least one payment with PNC Online Bill Pay
  • Virtual Wallet with Performance Select: Earn a $400 bonus when you do the following:
    • Open a new Virtual Wallet with Performance Select
    • Establish a qualifying direct deposit of $5000 to your new account
    • Make at least one payment with PNC Online Bill Pay
  • Performance Select Checking: Earn a $400 bonus when you do the following:
    • Open a new Performance Select Checking account
    • Establish a qualifying direct deposit of $5000 to your new account
    • Make at least one payment with PNC Online Bill Pay

pnc 400 bonus

The Fine Print

  • This bonus offer is valid for new accounts opened through this web page only
  • Requirements must be completed within 60 days of account opening
  • Account must be kept open to receive bonus
  • Bonus will post 60-90 days after the requirement is met
  • A qualifying Direct Deposit is defined as a recurring Direct Deposit of a paycheck, pension, Social Security or other regular monthly income electronically deposited into a Performance or Performance Select Checking account, or the Spend account of a Virtual Wallet with Performance Spend or Virtual Wallet with Performance Select
  • New checking account will not be eligible for the 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
  • Limit of one bonus per account

Avoiding Fees

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

Performance Checking $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 ($400 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

Performance Select Checking $25 Monthly Fee ($400 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

  • You must pay a $25 early account termination fee if you cancel your account within 6 months of opening (source)

Our Verdict

This is a great offer especially if you have an extra $5,000 laying around to get the full $400 bonus. Now that this bonus seems to be available nationwide, here is my plan:

I’ll have to tie $5,000 up for six months, but I’ll get $400 and also an easy $2,000 in credit card funding to meet some minimum spend requirements. Because this bonus is so good I’ve added it to our list of the best bank account bonuses currently available, which you can view if you click here. You can also view all the bank bonuses currently available here.

In the past PNC has offered bonuses up to $300 online or $400 in branch, but this new offer is vastly superior to those offers.

Hat tip to Yeshu on Twitter



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Does PNC match offers? I just applied one with the $300 coupon….

Curious about this as well, also applied for the $300 coupon a few weeks back.

$5K of DD in single transaction or multiple? It should be done withing single month, right?

I have the same question.

Same Question. I can deposit $5k in a couple Direct Deposits withing a month, but not in 1 single deposit…

I just talked to customer service, and according to two reps, it is an aggregate $5000 (can be multiple deposits).

Within 60 days

First rep informed me offers are only available to their jurisdiction, not nationwide. First rep also denied existence of this promotion. Second rep said there is no fine print on the location and I would be eligible, and verified promotion. I wish customer service would get on the same page with their information, it seems to be the same with all banks.

Great info Shawn tyty. Just to confirm, they told you that you have 60 days from account opening to deposit a total of $5,000, which can be in smaller deposits that add up to $5k? TIA

See what Z said here:
https://www.doctorofcredit.com/pnc-400-checking-bonus-in-branch-only-de-il-in-md-nj-pa-va-wi-only/#comment-100824

Apparently “various amounts totaling 5k” worked before (at least in his case).

FYI – I have recently funded my US Bank Power Up Checking account with my new Citi HHonors Reserve Visa and incurred no cash advance & my partner has funded their new NW Visa Buxx with their new Citi Prestige MC and incurred no cash advance.

This mirrors what others have reported recently on FT and it may well be that for most Citi credit cards, they may no longer post as cash advances.

Of course, YMMV.

funding for $2k worked with citi thank you premier card. hope to see paypal go in as DD

Last time I did this offer I used PayPal. They fought me on the PayPal DD but eventually gave me the bonus after many phone calls. I would try something else to avoid the hassle. I just checked and I received the $300 bonus on 9/5/14. Does that mean a week from now I am good to apply for this offer?

Has anyone tried the Citi Business AAdvantage?

Perhaps this can help.. I used it by mistake to fund Nationwide Visa Buxx and got no cash advance fees incurred

I got denied for the bonus. The bill payments I did were just to myself, so be careful not to do that.

Which bill payments? Do you mean you tried to pay off the CC that you used to fund PNC, with PNC? Thanks

I can make direct deposits through Payroll totally $5,000 but if I do that, I’ll miss out on my monthly Santander $20 bonus. I’m thinking of taking advantage of the PNC offer and then closing the account immediately after the bonus posts (even if that involves paying the $25 early termination fee).

Do you guys agree with this approach?

Also, does anyone know when does PNC “practically” post the bonus? I know some banks post quite early and some exactly on the 60 or 90 day mark after meeting the requirement.

Just tried to fund using Chase Freedom for $2000, declined because it apparently was a cash advance. Cash and luckily my limit is $1400. Going to try my other Chase Business Ink now

ALEX — Having read many posts here and elsewhere I can advise that many times funding by Chase credit cards of these sort of financial investments first appears as a Cash Advance but then becomes a bona fide Purchase which entails no fees.

Likely this is occurring in your case, as well, but of course YMMV.

Watch your online statement if the cash advance also becomes a purchase and let us know!

You might be right..but judging by the $2000 amount I’m not willing to risk the fees that would follow should it settle as a cash advance

would it possible to do an initial test deposit from chase credit card say $50 and wait for it to clear then do the full $1950 if goes as ACH deposit? this way there are no risk of getting hit w/ cash advance fee

I think you only get one shot.

Why don’t you just lower your cash limit to $0?

Does anyone know what PNC considers a new account (ie. are PNC bonuses churnable)? I closed out an account with them in Jan, don’t know if I’m eligible for the promotion.

Read “The Fine Print” section of this article — it’s all there!

Keeping the account open for 6 months just so you’re not penalized $25 seems like a waste. That $5k can make a lot more interest somewhere else (NetSpend, Mango, etc) to cover the measly $25.

It’s $25 per month. With NetSpend/Mango you get $5k x 5% / 12 = $21 per month.

I was referring to the $25 early termination fee.

just tried to open Performance Select Checking account (virtual wallet vs normal was confusing btw) and fund $2k with Chase British Airways with cash advance set at $100. card was declined.

any data-points on what counts as a direct deposit? Venmo? Paypal? ACH?

Attempt to fund new account via Chase Freedom and Chase business Ink and both were attempted as cash advances. Luckily , I had cash advance access off, but a Chase rep confirmed the decline was due to cash advance

See answer above.

Data Point: The Citi Double Cash card successfully funds this account. I have turned off my cash advance option on the card so I know it doesn’t count as a cash advance.

Darn… have to be an American citizen to signup online. Since there are no branches nearby I guess I’ll have to pass this one 🙁

You can always “say” that you’re citizen….
(Yes I know it’s a little bit risky.)

Risky how? I am a green card holder and It was too hard for me to become one so I don’t want to screw it up because of this little lie.

If I open the account in branch, then I can’t use CC to fund initial 2k? Non-citizens might have to provide additional info in branch.

when filling the actual application under section “certification of tax status”, it says US citizen or US person (which includes green card holders by NSA and IRS definitions – see https://en.wikipedia.org/wiki/United_States_person)

yay! I’m going to go for it.

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