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PNC Premiere Money Market account review
ATM access and unlimited deposits but watch out for high monthly fees.
finder.com’s rating: 2.3 / 5.0
★★★★★
The PNC Premiere Money Market account is designed to help you save with mobile account access, unlimited deposits and a handy auto-deposit feature. But make sure you nail down what rate you qualify for before you apply — interest rates are tiered and vary by state.
Up to 0.05%
APY
$12 per month
Fee
$100
Minimum deposit to open
Details
| Annual percentage yield (APY) | 0.05% on balances of $10,000 to $1,000,000 Relationship rates with Performance Checking 0.02% on balances of $1 to $1,000,000 |
|---|---|
| Fee | $12 per month |
| To waive the fee | $5,000 average monthly balance |
| Minimum deposit to open | $100 |
| Minimum balance to earn interest | $1 |
| Interest compounding | Daily |
| Monthly transaction limit | 6 |
| Fee per transaction over the limit | $15 |
| More info |
Review by
Shannon Terrell
shannon.terrell@finder.comShannon Terrell is a senior writer for Finder who has written over 400 personal finance guides. With a focus on investments and personal finance, she breaks down jargon-laden topics to help others make informed financial decisions. She studied communications and English literature at the University of Toronto.
Expert review
If you’re interested in online banking, ATM access and unlimited deposits to help your savings grow, the PNC Premiere Money Market account could be a suitable choice. Holding a PNC checking account may also help you secure a higher interest rate.
But interest rates are tiered and you’ll need to be ready with an opening deposit of at least $100 when you apply.
How do I open a PNC Premiere Money Market account?
- Go to the provider’s site and follow the steps to apply.
- From PNC’s website, click Apply Now.
- Select the features you’d like to add to your account. Click Continue.
- Enter your full name, Social Security number, date of birth, email address, residential address and employment information. Click Continue.
Enter the bank account and routing number of the external account you’d like to use to fund your account. You’ll need to make a deposit of at least $100 to open your account.
Your PNC ATM card will arrive in the mail. In the meantime, log into your online account from your computer, tablet or mobile device to access your funds.
Eligibility
To be eligible for a PNC Premiere Money Market account, you’ll need to meet the following criteria:
- Be a US citizen
- Be at least 18 years old
- Have a US residential address
- Have a Social Security number
- Have a valid bank account
Required information
Have the following information on hand before you begin the application process:
- Primary home address
- Valid email address
- Valid phone number
- Social Security number
- Driver’s license or valid state ID
- Bank account number and routing number of the account you plan to use to fund your account
What are the benefits of a money market account with PNC?
Enjoy mobile banking and ATM access along with the following advantages:
- Unlimited deposits. While the PNC Premiere Money Market account is limited to 6 transfers monthly, there’s no limit to the number of deposits you can make.
- Auto Savings. Take advantage of PNC’s Auto Savings — an auto-deposit feature that transfers funds from a linked checking account to your money market account.
- Online application. Complete the account application process entirely online and have your ATM card mailed to your door.
- Relationship Rates. Secure a higher APY for your savings by owning a PNC checking account and meeting one of the following requirements:
- Have $2,000 in direct deposits ($1,000 for WorkPlace or Military Banking customers) in a linked PNC Virtual Wallet with Performance Spend or Performance Checking during the previous month.
- Have $5,000 in direct deposits in a linked PNC Virtual Wallet with Performance Select or Performance Select Checking during the previous month.
- Make at least five PIN or signature point-of-sale transactions using your Visa debit or linked Visa credit card during the previous month.
What should I look out for?
In addition to tiered interest rates that vary by state, be wary of the following potential pitfalls:
- $100 opening deposit. You’ll need an opening deposit of at least $100 to open the PNC Premiere Money Market account.
- $12 monthly fee. Expect a $12 monthly maintenance fee unless you can maintain a monthly balance of $5,000 or more.
- Tiered interest rates. To access the highest rates PNC has to offer, you’ll need a higher daily balance, with the best rates reserved for those with a Relationship Rate and balance of $1 million or more.
- Limited transfers. Like many other savings products, the PNC Premiere Money Market account is limited to 6 transfers monthly. Exceeding this limit may result in your account being converted to a noninterest bearing checking account.
Pros not outweighing the cons? Research other providers to find the money market account with the best rates and features for your needs.
Compare money market accounts
How do I deposit or withdraw my money?
Access the funds of this money market account in four different ways:
- Online deposit. Move funds electronically between your PNC account and an externally linked account.
- Mobile check deposit. With the PNC mobile banking app, you can deposit funds directly to your account by snapping a photo of the check to be deposited.
- ATM. Access your funds at over 9,000 surcharge-free PNC ATMs with your debit card.
- In person. Visit a PNC bank branch during business hours to deposit or withdraw funds.
How can I get in touch with customer service?
You can reach out to the PNC customer support team 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. Log in to your online account on PNC’s website and fill out a secure online form for an email reply from customer service.
- Social media. Post a comment or question to PNC’s Twitter account for a reply from the customer support team within one business day.
Frequently asked questions
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