PNC Up To $1,000 Business Checking Bonus [CO, MA, CA, AL, DC, DE, FL, GA, IL, IN, KY, MD, MI, MO, NC, NJ, NY, OH, PA, SC, VA, WI and WV]

Update 3/13/25: Now live in MA as well. Hat tip to reader Peek

Promo doesn’t go live until tomorrow

Update 9/29/24: Extended through December 31, 2024. Maximum bonus is now $1,000 but the $1,000 bonus now requires a $100,000 average balance instead of $30,000. The $400 bonus was $200.

Offer at a glance

• Maximum bonus amount: $500
• Availability: AL, CA, DC, DE, FL, GA, IL, IN, KY, MD, MI, MO, NC, NJ, NY, OH, PA, SC, VA, WI and WV
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Soft
• ChexSystems: Unknown
• Credit card funding: None
• Monthly fees: $12-$50
• Early account termination fee: $25, six months
• Household limit: None listed
• Expiration date: September 30th, 2020 March 31, 2021 September 30, 2021

The Offer

Direct link to offer

• PNC is offering a bonus of up to $400/$1,000 when you open a business checking account. Bonuses are as follows:
  • Earn $400 with a business checking account when you complete the following requirements:
    • Maintain the minimum average cycle balance of $2,000 for each of the first 3 statement cycles
    • Make at least 20 total qualifying PNC Bank Visa® Debit Card transactions and/or PNC Bank Mobile Check Deposits[3] within the first three statement cycles
  • Earn $1,000 when you open a Treasury Enterprise Plan or Analysis Business Checking and maintain a minimum average cycle balance of $100,000 for each of the first three statement cycles

The Fine Print

$200 bonus:

• You may earn a $200 reward if you open a new PNC Business Checking or PNC Business Checking Plus account.
• To qualify for the reward, the new checking account must be opened between July 1, 2020 and September 30, 2020, and the following conditions must be met: (a) average cycle balance of $5,000 must be maintained in your new checking account for each of the first three statement cycles; and (b) at least 20 total qualifying PNC Visa®  Business Debit Card transactions must be made within the first three statement cycles. Your new checking account must be open in order for you to receive the reward, which will be credited to the eligible account within 90 days after all conditions have been met and will be identified as “Credits NEW BUS BONUS” on your monthly statement.
• Only business checking accounts with statements that cycle monthly are eligible for this offer. Business checking accounts that receive statements daily, weekly or quarterly are ineligible.
• Already established, converted or repurposed PNC checking or savings accounts are not eligible.
• Average cycle balance is defined as the average total within your business checking account at the end of your statement cycle. A qualifying debit card transaction is defined as any debit card purchase made at point of sale using your signature or PIN; or a purchase made electronically or online using your debit card number, including recurring payments. Any combination of qualifying PNC Visa® Business Debit Card transactions is acceptable but must equal 20 within the first three statement cycles.
• New account will not be eligible for offer if any signer has signing authority on an existing PNC Bank business checking account or has closed an account within the past 90 days, or has been paid a promotional premium in the past 12 months. If multiple accounts are opened with the same signers, only one account will be eligible for the premium. For this offer, signing authority will be defined by the customer name(s) and Social Security number(s) registered on the account.
• Offer may be extended, modified or discontinued at any time. The value of the reward may be reported on Internal Revenue Service (IRS) Form 1099, and may be considered taxable income to you.

$500 bonus:

• You may earn a $500 reward if you open a new PNC Treasury Enterprise Plan or Analysis Business Checking account.
• To qualify for the reward, the new checking account must be opened between July 1, 2020 and September 30, 2020, and the following condition must be met: average cycle balance of $30,000 must be maintained in your new checking account for each of the first three statement cycles.
• Your new checking account must be open in order for you to receive the reward, which will be credited to the eligible account within 90 days after all conditions have been met and will be identified as “Credits NEW BUS BONUS” on your monthly statement.
• Only business checking accounts with statements that cycle monthly are eligible for this offer. Business checking accounts that receive statements daily, weekly or quarterly are ineligible. Already established, converted or repurposed PNC checking or savings accounts are not eligible. Average cycle balance is defined as the average total within your business checking account at the end of your statement cycle.
• New account will not be eligible for offer if any signer has signing authority on an existing PNC Bank business checking account or has closed an account within the past 90 days, or has been paid a promotional premium in the past 12 months. If multiple accounts are opened with the same signers, only one account will be eligible for the premium. For this offer, signing authority will be defined by the customer name(s) and Social Security number(s) registered on the account.
• Offer may be extended, modified or discontinued at any time. The value of the reward may be reported on Internal Revenue Service (IRS) Form 1099, and may be considered taxable income to you.

Avoiding Fees

Business Checking ($400 Bonus)

This account has a monthly fee of $12 and is waived if you do ONE of the following:

• Make $1,000 in business credit card purchases with a linked PNC credit card
• Maintain an average minimum monthly collected balance of $500

Treasury Enterprise Plan ($1,000 Bonus)

This account has a monthly fee of $50. This is waived when you maintain $30,000 Average Combined Monthly Collected Balance in the master and all additional beneficiary business checking accounts

Early Account Termination Fee

There is a $25 early account termination fee if the account is closed within the first six months. None

Our Verdict

The standard bonus is $200, the best bonus we’ve seen was $400 and that only required a deposit of $10,000 to trigger. I’m not sure if we will see that offer again, but it’s significantly better than the $500 bonus. I’ll still add these bonuses to the best bank bonus page but it might be better to wait for a possible return of that $400 offer.

Hat tip to reader Rob

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times

Post history:

• Extended through September 30, 2024
• Extended through 30 June ‘24
• Update 1/2/24: Extended until March 31, 2024
• Update 10/3/23: Extended until 12/31/23
• Update 6/29/23: Extended until September 30, 2023
• Update 4/17/23: Extended through 6/30/2023.
• Update 1/12/23: Extended through March 31, 2023.
• Update 10/19/22: Extended through December 31, 2022.
• Update 10/8/22: Extended through 12/31/2022.
• Update 7/4/22: Extended through September 30, 2022.
• Update 4/2/22: Extended through 6/30/22
• Update 1/4/22: Extended through 3/31/22
• Update 10/4/21: Extended through 12/31/21
• Update 4/12/21: Extended until June 30, 2021.
• Update 1/2/2021: Extended until March 31, 2021.
• Update 10/11/20: extended until December 31, 2020.