PNC Bank; Alyssa Powell/Business Insider
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The rules about which PNC accounts you can open depend on if you live in a market with branches.
You can qualify for a high-yield savings account if you live in a market without PNC branches.
PNC doesn’t offer a standalone checking account but instead offers a three-account package.
See Insider’s list of the best high-yield savings accounts »
This post was last reviewed and updated on July 22, 2021.
The bottom line: PNC High Yield Savings℠ Account strongest products are its digital accounts, but you can’t access all of them if you live in a market with PNC branches.
Overall bank rating
Insider rating (out of 5)
Pros and cons
High APY on your savings account
Cash bonus for opening an account
Variety of CD term options
Strong mobile app
If you live near a branch, you can’t sign up for the PNC High-yield Savings Account
Low APY on money market account
Money market account does not come with paper checks
CDs are only available if you live in a state where there are branches
PNC High Yield SavingsSM Account
The PNC High Yield Savings Account is probably the bank’s best product. It pays a competitive APY and doesn’t charge monthly maintenance fees. It also doesn’t require an opening deposit, and you only need a balance of $1 to earn interest.
This account is only available online, and only to residents of states where there are no PNC branches. You aren’t eligible to open a PNC High Yield Savings Account if you live in one of the following states:
Note that PNC does have one branch in Texas, but residents of Texas can still open a PNC High Yield Savings Account. PNC does offer other savings accounts for in-person bankers, but rates are significantly lower, and there are monthly maintenance fees.
PNC Bank Virtual Wallet Checking Pro
PNC has an online checking account called PNC Bank Virtual Wallet Checking Pro. Even though it’s a digital product, you can open a PNC Virtual Wallet if you live in a market with branches.
PNC calls its everyday checking features Spend. At no extra cost, you can also open a PNC Bank Virtual Wallet Checking Pro package with two additional buckets: Reserve (interest checking) and Growth (long-term savings). You’ll earn a high interest rate on your Growth balance.
You may qualify to earn a $200 sign-up bonus when you …read more
Source:: Business Insider