$75 Checking Account/Direct Deposit Bonus at PNC Bank - Update

Update 3/01/09: The promotion has been extended to 3/07/09.

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 offer is scheduled to end on 1/31/2009.

According to the small print the payout of $75 will be credited to the account within 7 days of the first Direct Deposit, which must occur before 3/31/09. The direct deposit must be at least $500, and according to the small print:

A qualifying Direct Deposit is defined as a Direct Deposit of a paycheck, pension, Social Security or other regular monthly income electronically deposited into a Free, Performance or Performance Select Checking account. The minimum amount of any single Direct Deposit must be at least $500. The 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.

Two commenters in my previous PNC post mentioned that the bonus was credited after they did ACH transfers. One of the commenters mentioned that he was charged $16.99 for checks when he applied online. He was told by the CSR that any account opened online automatically creates a check order. He was able to return the checks to a branch for a refund. I just called and was told by the CSR they'll just send you some starter checks free of charge when you apply. I was told you can apply by phone in addition to online, so this may be a better way to ensure there are no surprise charges. I also was 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. PNC's new Virtual Wallet checking/savings account should also qualify for this bonus (see review).

PNC Branches are located in Delaware, the District of Columbia, Florida, Virginia, Kentucky, New Jersey, Ohio, Maryland, and Pennsylvania. With National City now part of PNC the number of branches will grow over the next two years as National City branches are converted into PNC branches. PNC Bank is FDIC insured (FDIC Certificate # 6384).

Thanks to the reader who mentioned this new promotion in the finding deals post

Tags: PNC Bank, National Association, checking account