PNC (Pittsburgh National Corporation) was established in 1852 as Pittsburgh Trust and Savings Company, making it the oldest bank in Pittsburgh. It currently serves 5 million consumer and small business customers and has branches in 15 states and the District of Columbia.
Company Headquarters:
PNC Financial Services Group
249 Fifth Avenue, One PNC Plaza
Pittsburgh, PA 15222
Website: www.pnc.com
Customer service: 1-888-PNC-BANK
Types of Accounts Available
PNC offers a well-rounded selection of account types. Here is a quick breakdown of banking options:
Savings Accounts
One of the most popular accounts offered by PNC is the Statement Savings Account. It comes with the following features and requirements:
- $25 to open
- Minimum balance to earn interest is $1
- Unlimited deposits, including transfers into the account
- 3 free withdrawals per month (including transfers out of the account)–$3 will be charged for each additional withdrawal if the balance falls below $1,500
- Auto Savings feature (automatically transfers to grow your savings)
- No withdrawal fees or minimum balance requirements for customers under 18
- Free PNC Banking card
- Free online view of prior 90-day’s deposit tickets and Deposit Ticket detail list
The bank also offers the Savings Max account, Health Savings account and Virtual Wallet (which combines the Growth Account, Reserve Account and Spend Account to help you spend, save and grow your money).
Checking Accounts
The Free Checking Account is a good option, especially since many banks are eliminating their free checking options. It comes with the following requirements and features:
- No monthly service charge
- No minimum monthly balance requirement
- Free PNC ATM transactions
- Unlimited check writing
- Free Online Banking and Bill Pay
- Reimbursement of non-PNC ATM transaction fees and surcharges with an average monthly balance of $2,000 (through 9/12/2011)
- Auto Savings feature
- Automatic Loan Payment Plan
- Optional overdraft protection
Other checking options include Performance, Performance Select and Virtual Wallet.
Money Market Accounts
PNC’s Premium Money Market Account is the bank’s only money market option. Features and requirements include:
- $100 to open
- Check writing privileges
- Free PNC Banking card
- Balance earns interest at $1+ based on tiered rates
- Unlimited deposits, including transfers into the account
- Monthly service charge if average monthly balance falls below $1,000
- Free and unlimited use of Online Banking and Telephone Banking
- Use of Auto Savings
Enjoy free online view of prior 90-day’s deposit tickets and Deposit Ticket detail list.
CDs
PNC offers a number of CD options. The most common is the Fixed Rate CD, which comes with the following features and requirements:
- $1,000 to open (with term of 90 days to 10 years) or $5,000 to open (with term of 7 to 89 days)
- Early withdrawal penalties apply for balance withdrawn before maturity
- Fixed rate
- FDIC insured
PNC’s CD terms range from 7 day to 120 month. Other CD accounts include the Ready for Access CD, Callable CD, Variable Rate CD and Step Rate CD. This bank does not advertise jumbo CDs.
How to Open Account
PNC Bank requires the following to open most accounts:
- Government-issued photo (Driver’s License, U.S. Passport, state-issued ID)
- Social Security number
- Current address
- E-mail address
- Employment information (only for some accounts)
- Printer
You’ll also need Credit card or debit card or routing and account number if you want to fund from an existing bank account
FDIC Insurance and Coverage
Deposits made in PNC accounts are FDIC insured up to $250,000 per depositor, per institution. These accounts include savings, checking, money market and CDs.
Customer Service
PNC offers a number of customer service options. Customers can call one of its toll-free numbers, visit its FAQ section, contact a representative online for technical support or visit a branch for in-person assistance.
Security
PNC uses Security Sockets Layer (SSL) technology to protect accounts and customer identities. The bank also uses firewalls to limit entry by anyone without proper authorizations. Another feature is PNC Security Assurance, which offers an array of products, services and account features to help prevent security issues. Customers are also given tips on how to protect their own accounts and identities.
In addition to standard accounts, PNC offers mortgages, loans and lines of credit, credit cards, investment opportunities and insurance.
