MyCardBlog

PNC Bank has finished the acquisition of National City Bank on December 31, 2008. National City Bank now is a bank of PNC Bank (On December 9, 2008 Shareholders of National City Bank have filed lawsuits to halt the sale of the commercial bank to PNC). PNC now is offering a checking account bonus which offers $75 bonus for opening a new checking account with required direct deposit.

The promotion page about this offer is listed on the website of PNC bank. This link leads to the promotion page directly. The free checking account qualifies for this promotion. This checking account requires a minimum $25 initial deposit. It has no monthly fees or minimum balance requirements. Online Bill Pay is also free.

According to the small print: The payout of $75 will be credited to the eligible account within 7 days of the first Direct Deposit, which must occur before 3/31/09. The payout will be identified as “Direct Deposit Reward” on your monthly statement. The direct deposit is clearly defined by PNC Bank:

A qualifying Direct Deposit is defined as a Direct Deposit of a paycheck, pension, Social Security or other regular monthly income electronically deposited into a Free, Performance or Performance Select Checking account. 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. Transfers from one account to another or deposits made at a branch or ATM do not qualify as Direct Deposits.

Free Checking Accounts at PNC Bank features:

• Free transactions at any PNC Bank ATM.
• Non-PNC ATM fees reimbursed with a $2,000 average monthly balance
• No minimum balance requirement and no monthly service charge
• Earn rewards with your enrolled PNC Bank Visa Check Card when you make a qualifying purchase
• Free Online Banking and Bill Pay

There are also PNC Performance and Performance Select Checking Account available which offer better benefits but require more balance on the account.

The new PNC virtual wallet checking/savings account is also qualified for this promotion. The virtual wallet account is a great banking product. I will give a brief review of this virtual wallet soon.