PNC Bank High Yield Savings Account

PNC Bank High Yield Savings Account Review

PNC Bank High Yield Savings Account is offered by PNC Bank, a bank founded in 1845 and based in Pittsburgh, PA. PNC Bank High Yield Savings Account are available in 30 states across the USA.

Key Takeaways

• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 4.00%, which is much higher than the average interest rate for a savings account. However, you must keep a minimum balance of $1 to earn that insterest rate.
• $0 monthly fee. This account does not charge any monthly account fees.
• No minimum initial deposit. There is no minimum balance required to open an account online.
• No ATM fees. PNC Bank High Yield Savings Account does not charge fees on ATM transactions.

PNC savings account Pros & Cons

Pros	Cons
High variable APY. Access to physical branches. Free debit card	No signup bonus. Does not provide access to a nationwide ATM network. Higher than average wire transfer fees.

PNC savings account FAQ

Are savings accounts from PNC Bank federally insured?

Yes, your deposits are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Does PNC Bank offer a signup bonus?

PNC savings account doesn't offer a signup bonus.

What is the minimum initial deposit for PNC savings account?

There is no minimum deposit to open a PNC savings account.

PNC Bank High Yield Savings Account Minimums

Description
Minimum Balance to Earn APY	$1
Minimum Opening Deposit	$0
Minimum Required Balance	$0

What APY does PNC Bank High Yield Savings Account offer?

PNC savings account offers an APY of 4.00% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only savings accounts, which is around 1% APY.

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does PNC savings account charge?

PNC savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

• Outgoing domestic bank transfers come with a $30 fee.
• Incoming domestic bank transfers come with a $15 fee.
• Outgoing international bank transfers come with a $45 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
• Incoming international bank transfers come with a $15 fee.
• An overdraft on your account will trigger a $36 fee per item.

Does PNC savings account charge overdraft fees?

Yes, PNC savings account charges a $36 overdraft fee.

What features and perks does PNC savings account offer?

This savings account includes the following features:

• Check images with monthly statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks for each statement period.
• Fraud monitoring - PNC savings account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
• Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
• Mobile Banking Services - PNC savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

Can you set up a direct deposit to PNC savings account?

Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for PNC savings account?

The customer support email for PNC savings account is info@pnc.com.