If you have never opened a checking account with PNC before‚ you may be wondering what you need. The company is very large and their website isn’t very clear when it comes to opening accounts. However‚ they have some great products like their Virtual Wallet. Those products are worth checking out‚ and it may be worth opening an account with them.
Business Checking Plus account
The Business Checking Plus account at PNC Bank is an account that provides small business owners with a host of services. For starters‚ it is FDIC insured‚ meaning that if the bank fails‚ your deposits are insured up to $250‚000. The account also comes with a free bill pay feature and a free statement.
The PNC Business Checking Plus account offers more ways to offset the monthly fee than the Chase Business Checking Plus account. For example‚ with PNC‚ you can avoid the monthly fee by maintaining a $5‚000 monthly balance and using other PNC business services. Meanwhile‚ Chase requires you to maintain a daily average balance of at least $1‚500 per month.
The Business Checking Plus account at PNC is best for growing small and midsize businesses. The higher no-fee monthly transaction limit and more currency deposits are just a few of the advantages of this account. It also allows you to link multiple accounts with PNC and get credit for all of them.
The PNC Business Checking Plus account is linked with a minimum of 10 eligible business accounts. A business checking account may be linked with as many as 10 accounts‚ though some accounts may not be eligible. For example‚ some products may not be eligible‚ or their titling structure means that they are ineligible for the account. Additionally‚ you must be a business tax id number holder to qualify for a business checking account at PNC.
This account also offers interest earning capabilities. You can earn up to 1.5% interest on every dollar of money you deposit. That’s nearly fifty percent higher than the national average‚ and is designed with small businesses in mind. In addition‚ you can earn up to $100‚000 in interest by spending $500 per month with a debit card or receiving $2‚500 from customers.
A Business Checking Plus account at PNC offers great benefits for small business owners‚ including free cash every 90 days. To qualify‚ you must maintain a balance of at least $5‚000 and make at least $20 in debit card purchases. The bonus will be deposited in your account within 90 days.
There are several other features of this account that make it attractive to small businesses. For example‚ you can earn a $200 bonus every month if you open a PNC business checking account and deposit $500 in cash each month. There is also a monthly maintenance fee of $10‚ which can be waived if your balance reaches $500. You can apply for this account online or by calling a branch. PNC has branch locations across 28 states.
Another great feature of this account is its low minimum balance. With this account‚ you can save money on ATM fees and avoid high maintenance fees. You can also deposit cash at many retail locations throughout the country. You can also use this account for business expenses. It is important to remember that personal expenses are not included in your business checking account.
Other features of the Business Checking Plus account include higher free deposit and transaction limits. A Business Checking Plus account can make the banking experience more convenient for a small business. The account allows for up to $5‚000 cash deposits a month and can also be linked to up to four beneficiary accounts. However‚ it is important to note that this is not an interest bearing account‚ so you should not expect to earn interest on the money you deposit.
Another great feature of this account is the free Visa business debit card. PNC also offers free ATM access for business customers. In addition to free business debit cards‚ PNC business checking accounts also allow for unlimited free use of non-PNC ATMs. However‚ it is important to note that you must visit a PNC branch to open the account. However‚ PNC has a large branch network in the Midwest‚ the South‚ and Washington‚ D.C.
The PNC Business Checking Plus account comes with a cash bonus of up to $500 for new customers. To qualify‚ you need to have a balance of $5‚000 for the first three months‚ and make 20 qualifying debit card purchases. After you have completed all of the requirements‚ you’ll receive your bonus in 90 days.
When choosing the right checking account‚ consider how much your business needs and preferences. Having the right account is crucial to maintaining a healthy relationship with your bank. Choosing the wrong account can end up costing you extra money‚ or denying you the benefits you need to run your business. Consider these four questions before making your decision.