PNC High Yield Savings account review
Get a competitive 0.8% APY — but only if you live in an eligible state.
finder.com’s rating: 4.4 / 5.0
The PNC High Yield Savings account offers a competitive interest rate, free incoming wire transfers, and no monthly fees. But account availability, monthly transfers, and customer support are limited.
Minimum deposit to open
Shannon Terrell is a writer for Finder 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.
The PNC High Yield Savings account is best for those looking for a high-interest rate account with minimal fees. You’ll earn a competitive 0.8% APY that’s currently among the highest in the industry. Plus, you’ll enjoy no monthly fees and free incoming wire transfers.
However, the account is only available in states without a PNC Bank branch. If you’re not eligible, the PNC Standard Savings account may be your next best option — but the perks aren’t nearly as good. There’s a $5 monthly fee you’ll need to avoid and the APY is only 0.01% to 0.03%.
How do I open a PNC savings account?
Open a PNC savings account in five easy steps:
- Go to the provider’s site and follow the steps to apply.
- From PNC’s website, 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.
Open a PNC savings account when you meet these requirements:
- US citizen
- At least 18 years old
- US residential address in an eligible state
- Social Security number
Have this information ready when you go to apply:
- Primary home address
- Valid email address
- Valid phone number
- Social Security number
- Driver’s license or valid state ID
What are the benefits of a PNC High Yield Savings account?
- In addition to free account statements and incoming wire transfers, you’ll also get the following perks with a PNC savings account:
- Competitive APY. The PNC High Yield Savings account offers a 0.8% APY on all balances over $1.
- 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?
PNC High Yield Savings has quite a few benefits, but it also has these potential downsides:
- Limited availability. The PNC 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.
Which states are eligible?
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:
- New Hampshire
- New Mexico
- North Dakota
- Rhode Island
- South Dakota
If you prefer a high-interest account that’s available in your region, you’ll want to keep looking. As always compare other options when choosing a savings account.
Compare PNC Savings with other accounts
Enter your deposit amount to see how much interest you could with PNC Savings versus other accounts. Sort the table by features to find an account that’s right for you.
How do I deposit or withdraw my money?
Access the funds within your PNC High Yield Savings account in two ways:
- Online deposit. Transfer funds electronically between your PNC savings account and an externally linked account.
- Mobile check deposit. Using the PNC mobile banking app for Android and iOS, deposit a check into your account using your mobile device.
How can I get in touch with customer service?
Customer support for the high-interest savings account is available in three ways:
- Phone. Call 888-762-2265 on weekdays from 7 a.m. to 10 p.m. or Saturday and Sunday from 8 a.m. to 5 p.m. ET.
- Email. From your online account on PNC’s website, fill out a secure online form for an email reply from customer service.
- Social media. Reach out with a question on PNC’s Twitter account for a response from the customer support team.
Frequently asked questions
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