[Targeted] PNC $500 Checking Bonus

Update 2/5/20: New offer link is http://pnc.com/myreward. Still targeted (“Offer is available to intended addressee only”). This new link doesn’t have the debit card requirement.

Offer at a glance

• Maximum bonus amount: $500
• Availability: Targeted
• Direct deposit required: $5,000+
• Additional requirements: 10 debit card transactions
• Hard/soft pull: Soft 
• ChexSystems: Unknown
• Credit card funding: Yes, but codes as cash advance
• Monthly fees: $25, avoidable
• Early account termination fee: $25 if closed within six months
• Household limit: None
• Expiration date: Unknown

The Offer

Direct link to offer is: pnc.com/growthoffer might need to open this in incognito mode to get it to show the proper offer. In addition there is targeted language

• PNC is offering a bonus of $500 when you open Virtual Wallet with Performance Select and complete the following requirements:
  • Establish a direct deposit of $5,000+
  • Make at least 10 qualifying purchases with your PNC debit card

The Fine Print

• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Virtual Wallet With Performance Select $25 Monthly Fee

You can get this fee waived if you meet any of the following:

• Average monthly balance of $5,000 or more
• Qualifying direct deposits of $5,000 or more
• $25,000 in linked eligible accounts

Early Account Termination Fee

There is an early account termination fee of $25. This is charged if you close your account within 180 days. There is some evidence to suggest that they don’t actually charge this fee, but YMMV.

Our Verdict

There are a few URLs floating around for this offer, but they all seem to display a bonus for $300 instead of $500, so not sure what’s going on there. Normally the public bonus is $300 with the same requirements, so if you did get this $500 offer this is basically just an extra $200 and well worth doing. We won’t add this to the best bank account bonuses as it’s targeted.

Hat tip to reader Jim A & KS

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