Update 2/5/20: New offer link is http://pnc.com/myreward. Still targeted (“Offer is available to intended addressee only”). This new link doesn’t have the debit card requirement.
Offer at a glance
- Maximum bonus amount:Â $500
- Availability:Â Targeted
- Direct deposit required:Â $5,000+
- Additional requirements:Â 10 debit card transactions
- Hard/soft pull:Â SoftÂ
- ChexSystems: Unknown
- Credit card funding:Â Yes, but codes as cash advance
- Monthly fees:Â $25, avoidable
- Early account termination fee:Â $25 if closed within six months
- Household limit:Â None
- Expiration date:Â Unknown
Contents
The Offer
Direct link to offer is: pnc.com/growthoffer might need to open this in incognito mode to get it to show the proper offer. In addition there is targeted language
- PNC is offering a bonus of $500 when you open Virtual Wallet with Performance Select and complete the following requirements:
- Establish a direct deposit of $5,000+
- Make at least 10 qualifying purchases with your PNC debit card
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Virtual Wallet With Performance Select $25 Monthly Fee
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
There are a few URLs floating around for this offer, but they all seem to display a bonus for $300 instead of $500, so not sure what’s going on there. Normally the public bonus is $300 with the same requirements, so if you did get this $500 offer this is basically just an extra $200 and well worth doing. We won’t add this to the best bank account bonuses as it’s targeted.
Hat tip to reader Jim A & KS
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- 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
- Bank Bonus Posting Times
