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Shannon Terrell is a writer for finder.com who studied communications and English literature at the University of Toronto. On any given day, you can find her researching everything from equine financing and business loans to student debt refinancing and how to start a trust. She loves hot coffee, the smell of fresh books and discovering new ways to save her pennies.
What are the benefits of a savings account with PNC?
In addition to free account statements and incoming wire transfers, you’ll also get the following perks:
High APY. The PNC High Yield Savings account offers a lofty 2% APY on all balances over $1 — among the highest on the market.
No minimum deposit. Open a savings account with PNC without an initial deposit, but expect to fund it within 60 days or you’ll face account closure.
No monthly fees. The high-yield savings account doesn’t come with any monthly fees, so your savings are free to grow.
What should I look out for?
Limited availability. The PNC High Yield Savings account is only available in states without a PNC bank branch.
Limited transfers. Like many other online savings accounts, the PNC high-yield account is limited to six withdrawals and deposits monthly. Exceeding this limit may result in your savings account being replaced with a PNC checking account.
Limited support. Since this account is only available in states without a PNC bank branch, customer support for this account is limited to email and phone correspondence.
The PNC high-yield savings account is only offered in states without a PNC branch. Enter your ZIP code into PNC’s website to find out if your state is eligible.
States without a PNC branch include:
Compare with other savings accounts
How do I open an account?
First, go to PNC Bank’s website to verify that this account is available in your state by entering your ZIP code. If it is, click Apply Online.
Enter your full name, date of birth, email address, home address, employment information and Social Security number. Click Continue.
Enter the bank account and routing number of the external account you’d like to use to fund your account. Alternatively, you can use a credit card or debit card to fund your account.
You can also choose to skip this step if you’d prefer to fund your account with a mobile check deposit after enrolling in PNC online banking. Make sure to fund your account within 60 days to avoid account closure.
You must fund your PNC high-yield savings account within 60 days or your account will be closed and you’ll be charged a $25 account closure fee.
To earn interest, you’ll need to deposit at least $1 into your PNC savings account. You may transfer up to $2,000 using a credit or debit card, or up to $50,000 from an externally linked account.
There are no monthly maintenance fees associated with the PNC High Yield Savings account, but there is a $30 outgoing wire transfer fee, a $33 stop payment fee and a $25 early account closure fee should the account be closed within 180 days of opening.
In addition to its high-yield savings account, PNC Bank also offers a standard savings account, money market accounts, CDs and IRAs.
Savings account ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.
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