We were just notified of a pretty nice deal from PNC Bank for anyone considering opening a new checking account this year. From now until June 30, 2012, PNC is offering new “Virtual Wallet” checking account holders a $100 bonus after making $750 in deposits and completing 10 check card transactions.
The vast majority of checking account promotions this year are requiring larger commitments from account holders before releasing bonuses, ensuring people actually stay with the bank. Gone are the days when banks put up 50 to 100 dollars just for opening a new checking account and funding it with 100 bucks.
PNC Bank’s “Virtual Wallet” Checking Account:
The Virtual Wallet Account is actually the compilation of three accounts – the “Spend” account, “Reserve” account, and “Growth” account.
Spend Account: The Spend account is built for everyday purchases. It comes with a check card and ATM reimbursements up to $8 per statement cycle along with free ATM withdrawals from all PNC banks.
Reserve Account: This accounts works as your overdraft protection account. If you’ve withdrawn too much from your Spend Account, the Reserve Account steps in to serve as a safety net. If funds aren’t available in this account they will then be taken from your Growth Account.
Growth Account: This accounts functions as your savings account and comes with an interest rate. As for 2012, don’t expect much in the way of interest, although the rate is variable and should rise as key rates begin to rise.
All three accounts must be opened (together forming your “Virtual Wallet”) and funded with a total of $750 in order for you to receive the $100 bonus from PNC Bank. After funding the account(s) and making the required 10 transactions with your check card, the $100 bonus will be added to your account after 6 months.
PNC only provides banking services to residents in the following states: AL, DC, DE, FL, GA, IL, IN, KY, MD, MI, MO, NC, NJ, OH, PA, SC, VA and WI.
PNC’s Virtual Wallet and contributing accounts come with zero monthly fees. Visit www.PNC.com for further information.