Is today the day you open a new business checking account? For a limited time, join PNC Bank as a business customer to earn a cash bonus of up to $500.
Although PNC Bank has many different checking accounts to choose from, only business checking accounts qualify for a bonus at this time. Keep reading to find out if a checking account with PNC Bank is right for you and how to qualify for the $200 and $500 offers.
PNC Business Checking Accounts Bonus Offers
Currently, there are two open checking account offers: $200 for business checking accounts with an average ledger balance of at least $5,000 and $500 for business checking accounts with an average ledger balance of at least $30,000. There are four accounts that qualify for a bonus:
- PNC Business Checking – $200
- PNC Business Checking Plus – $200
- PNC Analysis Business Checking – $500
- PNC Treasury Enterprise Plan – $500
To get whichever bonus you qualify for, you need to request a coupon by visiting this link. Then, using this coupon, you’ll open your new account. You can do this online or by visiting a branch in person and presenting your offer email. Either way, you have until March 31st to open your new account and still qualify.
You are not eligible to receive the bonus if you already have one of the qualifying accounts, you have closed a PNC checking account of any kind in the last 90 days, or you have already received a promotional bonus for a business checking account.
In the next section, we’ll go over the $200 bonus offer and the accounts eligible for it.
Get $200 With a Business Checking or Business Checking Plus Account
The two accounts that qualify for the $200 cash bonus are the Business Checking account and the Business Checking Plus account. These accounts are ideal for small businesses and entrepreneurs. See the offer details below:
Now through March 31st, 2022, earn a $200 cash bonus when you open a qualifying PNC business checking account and meet balance and activity requirements.
To qualify, you must maintain a minimum average ledger balance of at least $5,000 for the first three months that you have the account. In addition, you need to use your linked PNC Bank Visa Debit Card to make at least 20 qualifying transactions also within the first three months. You do not have to meet the requirements by March 31st, just successfully open your account.
Once you meet these requirements, the bonus will be deposited into your account automatically within 90 days. Failure to fill either of these requirements will disqualify you from receiving the bonus.
PNC Business Checking Account
The Business Checking account is the most basic checking account PNC offers for business owners. There is a $100 minimum opening deposit requirement and a $10 monthly maintenance fee, which you can waive in one of three ways:
- Maintaining an average monthly balance of at least $500
- Using a linked PNC business credit card to make at least $500 in transactions
- Maintaining a linked PNC Merchant Services account and using this to generate at least $500 in qualifying processing deposits
You must meet these requirements each month to avoid the fee.
You can make up to 150 transactions from this account for free (this includes deposits, paid items, ACH credits, and received debits) and up to $5,000 in Quick Deposit transactions per statement period at no charge.
For every PNC business checking account, each transaction over the number included with your account will cost you $0.50 and the fee for every additional $100 you deposit over your account’s maximum is $0.25.
Free features included with the Business Checking account are Bill Pay and Quick Deposit. This is not an interest-bearing checking account.
PNC Business Checking Plus Account
The Business Checking Plus account includes all of the above features and perks but includes higher free deposit and transaction limits, making this a better choice for slightly larger businesses. With this account, you can make up to 500 transactions per month at no cost to you and up to $10,000 in cash deposits into this account.
This account also requires a minimum opening deposit of at least $100, but the monthly maintenance fee is a little higher at $20. To waive this fee, you must do one of the following:
- Maintain an average monthly balance of at least $5,000
- Use a linked PNC business credit card to make at least $5,000 in transactions
- Maintain a linked PNC Merchant Services account and use this to generate at least $5,000 in qualifying processing deposits
- Maintain an average collective balance of at least $20,000 between this business checking account and your business money market accounts with PNC
This is not an interest-bearing checking account either.
The requirements you must meet to qualify for the $200 account bonus are the same for both the Business Checking and Business Checking Plus accounts.
Next, let’s talk about how to qualify for that $500 bonus offer with a Treasury Enterprise Plan or Analysis Business Checking account.
Get $500 With a Treasury Enterprise Plan or Analysis Business Checking Account
First things first, note that this promotional offer is only available to businesses with an annual revenue of less than $5 million. If your business is worth more than this, you, sadly, won’t qualify.
The two accounts that qualify for the $500 cash bonus are the Treasury Enterprise Plan and the Analysis Business Checking account. These accounts are ideal for larger businesses, enterprises, and established companies.
Now through March 31st, 2022, earn a $500 cash bonus when you open one of these accounts and meet the following requirement: maintain a minimum average ledger balance of at least $30,000 for the first three statement periods you have the account. After meeting this requirement, the $500 will be deposited into your account automatically within 90 days. You can apply online or in-person as long as you have the coupon required to access the offer.
PNC Analysis Business Checking Account
First, let’s talk about the Analysis Business Checking account, since you need one of these if you’re going to open a Treasury Enterprise Plan. The Analysis Business Checking account allows you to link multiple PNC business checking accounts and enjoy higher transaction and deposit limits than the other two accounts we’ve covered.
The Analysis Business Checking account pays an earnings credit on the portion of your collective balance that is in excess of $125,000 to help offset transaction fees you pay when you bring more money in. Linking multiple accounts with this account gives you the benefit of avoiding service fees for each account and simplifying your banking.
The minimum deposit required to open an Analysis Business Checking account is $100 and there is a $25 monthly maintenance fee. This is the base fee and there is, unfortunately, no way to waive it.
On top of this, you will incur additional fees depending on which extra services and features you use. For example, using PINACLE Express starts at a rate of $35 per month and gives you additional information reporting, receivables, and transaction initiation features to better manage your cash flow and treasury.
You can also subscribe to a number of different add-ons to improve your payment practices and accelerate your receivables. These include Cash Flow Insight for Payables to manage your bills more efficiently ($15 a month), Cash Flow Insight for Receivables to create and track your invoices ($15 a month), Cash Flow Insight – Sync to link your bill and payment information with account software, and others. Most add-on subscriptions are $20 a month.
Treasury Enterprise Plan
Finally, there’s the Treasury Enterprise Plan. The PNC Treasury Enterprise Plan is a unique product package that combines a business checking and treasury management checking account. It is an optional add-on for your Analysis Business Checking account that brings treasury management features to your banking experience.
You can link multiple business checking accounts to keep track of your expenses and waive the monthly maintenance fees for up to four beneficiary accounts at no added cost to you. This account also comes with an Earnings Credit to help offset fees that is calculated using your collective balance across all linked accounts and applied to the portion of your balance over $125,000.
Like the other accounts, the minimum balance required to open a Treasury Enterprise Plan is $100. There is a $50 monthly maintenance fee, not charged for the first three months you have your account, that you can only waive by maintaining an average monthly collective balance of at least $30,000 across your accounts.
With the Treasury Enterprise Plan, you can deposit up to $50,000 in cash per month at no additional charge and make up to 2,500 transactions for free per statement period. There are no fees for online Bill Pay, in-network ATMs, or Overdraft Protection.
Enterprise account holders may be eligible for PNC Purchase Payback when they use their cards to make purchases at participating merchants. You may be interested in PNC Merchant Services for next-day funding when processing business transactions.
As part of your treasury management, choose between a Premium Business Money Market account or an MMDA Sweep, which have no monthly maintenance fee, to invest your extra cash.
PNC Business Credit Cards
If you’re also looking for a business credit card, PNC has five in its suite. We mention this because you can actually link your business credit card with your Treasury Enterprise Plan or Analysis checking account to organize your business spending. All business credit cards are eligible to do this except for the PNC BusinessOptions Visa Signature Credit Card.
Take a look at the available cards for businesses below:
- PNC Cash Rewards Visa Signature Business Credit Card – earn 1.5% cash back on qualifying net purchases, no annual fee
- PNC Visa Business Credit Card – basic business card with 0% APR introductory offer for 13 months, no annual fee
- PNC points Visa Business Credit Card – earn five points per dollar on qualifying business purchases, no annual fee
- PNC Travel Rewards Visa Business Credit Card – earn one mile for every dollar in eligible net purchases and two miles per dollar for the first $2,500, no annual fee
- PNC BusinessOptions Visa Signature Credit Card – includes expense management features and customizable rewards, annual fee of between $0 and $500 (dependent on your balance)
Overall, PNC Bank’s business checking accounts, with their low deposit requirements and variety of features, are decent options for many businesses and individuals. There are a few ways to waive account fees and several accounts with bonus offers to choose from.
$200 is pretty average for a checking account bonus and far from the best you’ll find, but it’s not bad and is relatively easy to get. And if you’ve got a larger business and can qualify for the $500 new account bonus, you’d be wise to open an account with PNC. But whether you own a small business or head a larger company, you should be able to find a PNC business checking account to meet your needs. If you’re not sure which one is right for you, you can use the site’s Business Checking Account Selector to easily compare your options.
But there’s no time to waste because these offers expire soon. Act fast to take advantage of these bonuses while you still can. Both offers will end on March 31st, 2022.