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 is available in 26 states across the USA.

Key Takeaways

• Higher than average APY. PNC Bank High Yield Savings Account has an annual percentage yield of up to 0.40%, which is higher than the average interest rate for savings accounts. Note that you must keep a minimum balance of $1 to earn that interest rate.
• $0 monthly fee. This account does not charge a monthly Service Charge.
• No minimum initial deposit. There is no minimum balance required to open an account.
• No ATM fees. PNC Bank High Yield Savings Account does not charge fees on ATM transactions.

PNC savings account Pros & Cons

Pros	Cons
Interest-yielding account. Access to physical branches.	No signup bonus. Does not provide access to a nationwide ATM network. Does not come with a debit card Only available in 26 states. Higher than average wire transfer fees.

PNC savings account FAQ

Are savings accounts from PNC Bank federally insured?

Yes, this account is 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 offer?

PNC savings account offers an APY of 0.40% (APY stands for annual percentage yield, rates may change).

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.
• PNC savings account charges a $25 fee for an early account closure. Contact PNC savings account for more details on what is considered an early closure.
• 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?

In most cases, the answer is yes. 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.

How do people rate the customer service and user experience of PNC savings account?

Overall, PNC savings account is strongly not recommended based on community reviews that rate customer service and user experience.