Dedicated to Deposits: Deals, Data, and Discussion

$75 Checking Account Bonus Extended at PNC Bank


PNC Bank has extended its checking account promotion in which you can earn $75 when you open a new PNC checking account with qualifying direct deposit. The offer is now scheduled to end on 3/07/2009.

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 4/30/09. 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.

A commenter in my previous PNC post mentioned that he funded the account via his Chase Freedom credit card, and it was considered a purchase rather than a cash advance. He funded it with $2,000. When he logged in, the $75 direct deposit reward was already added to his balance. It appears that because the $2,000 appeared as an ACH deposit on their end that it qualified as direct deposit. Please note that funding an account with a credit card may be considered as a cash advance by some credit card companies. This will trigger cash advance fees.

The online application now allows you to deselect the checks option. If you don't deselect this option, you'll be charged for checks. When I last checked with PNC, I was told there is no hard credit pull in the application. 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).

It appears that this promotion is available to people in any state. I've received conflicting info on this in the past, so you may want to call and confirm. I've been told that you can also apply for this promotion over the phone. 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 the extension of this promotion.

  Tags: PNC Bank, checking account

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Comment #1 by Anonymous posted on
Is there a hard credit pull? I've gotten some of my credit lines cut after opening an EverBank checking account.

Comment #2 by Anonymous posted on
What if u did the national city offer, are u still eligable for this one?