MyCardBlog

PNC bank is offering sign-up bonus for new customers opening a personal checking account with direct deposit between October 7 and November 17, 2007. They will give you $101 for opening a personal checking acount with direct deposit.

There are three checking accounts from which you can choose. For Free Checking account, you have to maintain $2,000 minimum balance to avoid ATM transaction fees outside PNC ATMs. For Performance Checking account, you have to maintain $2,500 minimum balance to avoid service fees. And you can earn interest for balance higher than $2,000. For Performance Select Checking account, $10,000 minimum balance required to avoid monthly fees.

Here are several important points about the sign-up bonus:
1). The payout of $101 will be credited to the qualifying account within 7 days of the first Direct Deposit, which must occur before 1/31/08.
2). A qualifying Direct Deposit is defined as a recurring Direct Deposit of a paycheck, pension, Social Security or other regular monthly income electronically deposited into a Free, Performance or Performance Select Checking account each statement cycle. The minimum amount of any single Direct Deposit must be at least $500. The Direct Deposits must be made by an employer or an outside agency.
3). You should maintain balance to avoid related fees.
It seems a really difficult deal to jump. I’m thinking of using ING Direct account or Paypal (they count Paypal and ACH push as DD) to put $600 in this account and then close it. Or maybe I will stay for 6 months as Chase. Of course I will open free checking, and get the money back to ING every month. My (or maybe all of you) concern is whether they will take the $101 back. Click here to application page.

PNC Financial Services is a U.S.-based financial services corporation, with assets of $92.0 billion. PNC operations include a regional banking franchise operating primarily in eight states and the District of Columbia, specialized financial businesses serving companies and government entities, and leading asset management and processing businesses. PNC is America’s 11th largest bank by deposits and is the third largest bank off-premise ATM provider in the country.