One of the more popular bank bonus offers currently available is the $400 PNC bank bonus. If you have $5,000 to float and you can manage $5k in direct deposit and a bill payment, you were able to walk away with four crisp $100 bills.
Updated Terms
They have now changed the terms and the $400 offer only applies to existing PNC customers and only those who live in select areas. This is what it looks like now:
Via Google cache, we are able to get a look at the old offer:
There are three key differences in the terms.
- The offer is now only to someone with an existing PNC relationship, “Add a checking account to your existing banking relationship with PNC!”. And here is from the fine print: “At least one signer on the new checking account must have a pre-existing consumer banking relationship other than a checking account with PNC. Such a relationship exists when the customer is a signer on any open and active PNC Savings or Money Market account, certificate of deposit, investment account OR any consumer loan, line of credit, credit card or mortgage.”
- Again from the fine print: “Offer only available to residents of AL, DE, FL, GA, IL, IN, KY, MD, MI, MO, NC, NJ, NY, OH, PA, SC, VA, WI, and WV.” Previously, this was available nationwide.
- From the fine print (bolding mine): “To qualify for the reward, the new checking account must be opened at a branch using the appropriate coupon between 06/01/15 and 12/31/15″. Oddly, the top of the page makes it sound as if the bonus can be had by opening an account online, but the fine print seems to say that it’s only available in-branch. The old offer clearly said that it can be opened online: “This bonus offer is valid for new accounts opened through this web page only.”
Workaround
Those who live in the above-mentioned states can still get this offer is they have a PNC relationship. An easy workaround would be to first open a savings account with PNC and then go a week later and do the $400 checking bonus. You would still have to do the checking bonus in-branch, apparently.
Final Thoughts
This PNC bonus was high on my to-do list, but since it was slated to expire on 12/31/15 I didn’t get to it yet. Judging from the 282 comments on the original post, many others were able to take advantage of this offer. Hopefully, I’ll still be able to do this one in-branch as I’m in the qualifying area.
First Discover, now PNC…oh, my! The lesson for the future is to treat bank bonuses like any other time-sensitive deal and do it right away. In both cases of the Discover and the PNC bonuses, those who did it before the terms changed should be good.
It looks like this offer is publically available again, https://www.pnc.com/en/personal-banking/banking/checking/campaigns/checking-vw-tiered-offer.html?WT.mc_id=VW_GOOGLE_Search_GAAL_S_G_B_VW_Virtual_Wallet_MBR&WT.srch=1&k=%2Bpnc%20%2Boffers&e=GOOGLE&m=p&gclid=CJq-k8b2yM0CFYY2gQod4OQNWw
I didn’t see it on the bank bonuses page, but found it through a Google search.
That offer is only for $300 and can be found here on our site: https://www.doctorofcredit.com/pnc-300-checking/
Glad I bailed on this “bonus.” PNC was a nightmare from the beginning.
hello everyone,
I wanted to update you on my experience. I’m having a huge issue with PNC Bank. in fact, my experience has been very bad. I feel like I am begging to get something they’ve advertised. Now, I am being offered $300 bonus vs. $400 as I was told they have no record of the $400 promotion. I was asked to provide proof of where I saw $400 promotion. do any of you know or have copies/pictures of the original $400 promotion on the pnc.com website? or a link to an older version of the pnc.com website? I cant believe PNC is denying having this promotion even though it’s all over the web. they said they don’t believe 3rd party websites when I told them to google for $400 PNC bonus.
Why don’t you use the screenshot on this page?
Also check out https://archive.org/web/ to see if you can find it.
I’d just file a complaint with the CFPB to be honest.
Jeremy–did you ever get the promotion? My husband is just running into the same trouble. He applied online (during the third version of the bonus), fulfilled all the requirements with pre-existing savings account, legit employer DD, bill-pay, etc., but now that we are at 90 days (of the “receive bonus after 60-90 days”) he sent them a message and they said they had no record he applied with the promotion. I’m assuming our computer’s tight cookie/tracking settings screwed it up. PNC customer service is opening an “issue” for him. Any tips to get them to rectify things?
I received a $400 PNC bonus a few months ago in 2015. I’ve called PNC multiple times about receiving my 1099 for tax purposes, and they said I won’t get one since they don’t report bonuses/interest under $600. Does anyone have any experience or more information with this? I thought we have to report all bonuses on our tax returns?
Yea, $600 is for other things. Bank bonuses are $10 threshold, I believe. Give it another week and see if it comes.
I also called multiples times and they said I will not be receiving 1099 since they don’t treat bank bonus as interest. Is this possible?
I called multiple times and was told same as Jeff. They said I would not receive 1099. Is this possible?
Similar to Jeff – called today and was told I would not receive a 1099 as PNC does not consider bank bonuses as interest. She pulled up my account and it showed $0.12 of interest for last year. Is this possible>
did u guys ever report the $400 on ur taxes? since its not income its a statement credit just like credit card bonuses and non-taxable?
Data point: opened savings then checking acc (in about 10 days or so) late Nov, direct deposited over 5K (payroll, not PP) in the course of 1.5 months in equal parts, did a couple of online bill pays – still no bonus 🙁
Have called in and the rep insists that 5K requirement should be completed within 1 month, not 60 days as original offer fineprint states. Escalated and waiting for resolution.
Finally got my bonus posted after escalation 🙂
When I emailed, they stated they did not see that I had signed up on a promotion. I advised that I did, and they stated they would submit a request to get a credit based on the promotion. I have a copy of the support email but the site is down right now I will post soon.
Jeremy–did you ever get the promotion? My husband is just running into the same trouble. He applied online (during the third version of the bonus), fulfilled all the requirements with pre-existing savings account, legit employer DD, bill-pay, etc., but now that we are at 90 days (of the “receive bonus after 60-90 days”) he sent them a message and they said they had no record he applied with the promotion. I’m assuming our computer’s tight cookie/tracking settings screwed it up. PNC customer service is opening an “issue” for him. Any tips to get them to rectify things?
But please be informed – as stated above by other users, they are much more picky now and PP transfer does not count as DD, as well as some of outgoing transactions may be ineligible, you need real paycheck deposited and real bill pay.
My question was that as long as you meet the direct deposit requirements, IE your account shows a valid direct deposit in the specified amount within the specified timeframe, you get the bonus, correct? What if immediately after a direct deposit, you transfer the money out of PNC to another account?
That’s exactly what I was planning to do. I don’t see any reason why it shouldn’t work.
I contacted PNC support asking them that very question and they told me that they didn’t even see my account being opened with a promotional code, which I know I did. I asked if they could add it, waiting on a response. If they can’t, I’ll be pulling my money out and going back to my credit union. ????
@Chuck: It appears they’ve switched this back to an online offer. From the link you posted(https://www.pnc.com/en/personal-banking/banking/checking/campaigns/checking-offer-for-PNC-customers.html ):
“To qualify for the reward, the new checking account must be opened online via the “Apply Now” links on this web page between 06/01/15 and 12/31/15 and the following conditions must be met within the first 60 days: (a) qualifying Direct Deposit(s) must be received and (b) at least 1 payment must be completed via PNC Online Bill Pay (from the Spend account for Virtual Wallet products).”
So, now it says that it must be opened online. Good for people who don’t live near a PNC bank(such as myself).
Just to double check, this isn’t an outdated link, is it? How can you get to that page using their website(without the direct link)? Do they have a page listing all current campaigns, with links to details?
Awesome! Let me post this, I’m going to jump on this now.
In the fine print of the link it says clearly that it is valid until 12/31, so I don’t see anything question here at all.
Ian posted that update in this thread exactly 2 weeks ago.
Dave,
Just trying to confirm again, doesn’t it still shows up the below ?
“Offer only available to residents of AL, DE, FL, GA, IL, IN, KY, MD, MI, MO, NC, NJ, NY, OH, PA, SC, VA, WI, and WV.”
Eventhough you can open account online, but still you need to be a resident of these states and they might deny the promotion just for the reason if you happen to not live in any of these states.
Good Luck!
Yes, it still shows that. I live in NY. Just not a part of NY where these banks are located. I’d have to drive for hours to get to one.
The promotion still isn’t nationwide, but this change helps people in those states but not near a branch.
“New Additional Terms: At least one signer on the new checking account must have a pre-existing consumer banking relationship other than a checking account with PNC. Such a relationship exists when the customer is a signer on any open and active PNC Savings or Money Market account, certificate of deposit, investment account OR any consumer loan, line of credit, credit card or mortgage.”
Does this mean that if I have never been a PNC customer of any type til now, that I cannot get the bonus??
Bob,
No. That term means to say “you need to have a existing relationship with PNC (easy one is open an savings account) before you can open Checking account for $400 bonus. You can be a brand new customer (not having any relationship in the past with PNC), but need to open Savings account (wait for a week after you open savings account and before you open checking account) before you can open Checking account.
Hope it helps!
Good Luck!
Vijay,
Okay that makes more sense. Do you think I’m better off opening the savings account at a branch and then calling either support or the banker you spoke with? That way I will already be a “current customer” and can say I simply can’t open the checking online for the promo. Weren’t you a little nervous opening both accounts at the same time due to the terms?
Eric,
Sorry If I didn’t state it clearly. First, this past to past week I went to branch and opened the Savings account and gave it a week and then this past week I went and opened the checking account (since by now I’ve existing relationship through Savings account) with having Jessie calling the online promotions team and setting up the new checking and attaching the promotion. You may need to talk to her and she would know once you say that I asked you to contact her for setting up the $400 account.
Good Luck!