Dedicated to Deposits: Deals, Data, and Discussion

$75 Checking Account/Direct Deposit Bonus at PNC Bank


PNC Bank has another checking account promotion in which you can earn $75 when you open a new PNC checking account with qualifying direct deposit. The offers end on August 31, 2008.

Unfortunately, PNC has lowered the bonus. This used to be $100 when I last posted on this in July.

According to the small print the payout of $100 will be credited to the account within 7 days of the first Direct Deposit, which must occur before 10/31/08. The direct deposit must be at least $500, and it looks like ACH transfers will not qualify. Here's what is stated in the small print:
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 checking account. The minimum amount of any single Direct Deposit must be at least $500. Direct Deposits must be made by an employer or an outside agency. Transfers from one account to another or deposits made at a branch or ATM do not qualify as Direct Deposits.

A commenter in a previous post mentioned that a PayPal transfer of $500 counted last year. So your miles may vary.

I've received conflicting reports about if a branch visit is required. I've been informed by past calls with PNC reps that people from any state can apply online. However, readers have reported being told it's restricted to their coverage areas. I've also been told that there's no hard credit pull. They just do a ChexSystem verification.

Free Checking qualifies for this promo. This requires a minimum $25 initial deposit. It has no monthly fees or minimum balance requirements. Bill Pay is free. A commenter in the last post mentioned that there's a closure fee if closed within 6 months.

Branches are located in Delaware, the District of Columbia, Florida, Virginia, Kentucky, New Jersey, Ohio, Maryland, and Pennsylvania. The bank is FDIC insured (FDIC Certificate # 6384).

Thanks to the reader who sent me email on this promotion.

$200 Bonus Still Available at Metropolitan National Bank

Metropolitan National Bank is still offering a $200 bonus for opening its free checking account and activating direct deposit. Like this PNC offer, it requires real direct deposit, and based on readers' feedback, the bank requires proof of this (see post).

Related Pages: PNC Bank, checking account

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Comment #1 by emily (anonymous) posted on
I took advantage of PNC's $100 offer in July. It had the same small print you noted. I did an ACH tranfer and the $100 bonus showed up in a day. Not being sure this would work I also had set up a real DD set to hit it on Sept 1. Will let that happen as may be too late to stop now, and set it back to where it was going next month.
Opening it was another matter. I opened online and had to call multiple times to find out what was going on. The first time I was told I neglected to put a work number, uh, duh, if one is retired there is no work number and my printout of my application page clearly said retired. Also they said they had called the day before I called them to ask for it - no they did not, no voice mail, no caller ID of them and I was home all day.(again checked my printout, they had correct number)
Was also told they didn't get signature paper. sigh They now have 3, 2 of them taken to a local branch. But all's well now. Markng my calendar for 6 months to close.

Comment #2 by Will (anonymous) posted on
I applied online the final day of PNC's last offer. I did a $500 ACH deposit, and the bonus was credited within 1 day. The only issue was they sent me a box of checks and charged a $16.99 check printing fee. CSR told me that any account opened online automatically creates a check order. She said I would need to return the checks to branch to get this refunded, which they did. So if you don't have a local branch and do get sent a box of checks, this might be something to take into account.