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PNC Small Business Banking Review – Is It The Right Bank For You?

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Updated on November 16, 2022 by
PNC Small Business Banking Review

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PNC Bank has two business checking account types: Business Checking and also Business Checking Plus. You will find a few other checking solutions based on your company and specific goals, like the Income Tax Savings Account and the Income Tax Savings Account.

Although PNC is not offering a ‘free' business bank account, it does give a 30 percent discount on most of its checking accounts for the initial three months, and the bar to having a PNC business account is very low.

On PNC Business Checking accounts, it is possible for you to get a $10 bonus every time you hit one of the markers:

  • Keep an account that is credited to your account each month with at least $500 in it.
  • Spend a total of at least $500 on a debit card associated with a PNC business account.
  • You will receive a minimum of $500 every month in processing deposits.

PNC offers clients simple banking options, and they have a strong network of branch offices and ATMs. It's important to note that some businesses who open business checking accounts using an account that they already own will have the necessary insurance to protect their money.

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PNC lets you start the application process by going to their website or by calling them, but you're required to visit a branch in person in order to open a business checking account. PNC Bank branches are located in 24 states in the Northeast, Midwest and South, as well as in Washington, D.C.

American Express Business Checking services are ideal for small business entrepreneurs and managers, if:

  • You want to do your banking at a branch or a physical location.
  • You may be eligible to have your annual service fee waived.
  • You want a bonus when you sign up.

How to Get A PNC Business Checking Account?

You may be able to apply for a checking account by visiting a local branch or by calling a hotline, but you will need to come in to a branch to open a checking account for your business. PNC serves clients in more than 28 states, including the Northeast, Midwestern, South, and Washington, D.C.

You'll need basic information to help the bank identify you and any other business owners who have 25% or more of the company. You need your business Social Security number and/or your employer identification number to apply for a business checking account with PNC. You need your business address and details that show your business is legal.

If applying online, you're required to show a valid government-issued ID that shows that you live in the U.S. You will be able to fund your business checking account as soon as you receive your initial deposit. But if you have a business checking account with PNC, you'll need two different types of government-issues. This includes a photo ID and a second form of government-issued ID, such as a utility bill or a rent agreement. You will need a business license or other proof that your business is legal, depending on the type of company you are.

After your credit application is accepted by PDC, you can start using the money that you have received on your account.

PNC Small Business Banking Review

Why Is PNC Business Checking Different?

When you have PNC Bank checking accounts for your business, you don't have to choose one account. You choose how much business checking you need, depending on your bank and other factors. You may also want to add or change features as your business needs change.

PNC Bank has a number of great perks for customers who sign up for business checking accounts. Some of those perks include free service, cash deposits or sign-up bonuses. PNC offers some great incentives for new customers to sign up with its business banking accounts. That pay no service fees for the initial three months of your business relationship are the best for those who want to start earning money quickly. In addition, if you sign up for one of our paid accounts, you could receive a bonus of up to $500.

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PNC Bank has nearly 9,400 ATMs in the U.S. that are in-network. In some cases, the owner of an ATM may ask to get a fee for using an outside ATM. The account will reimburse you twice per month for any fees that you pay to use PNC's ATMs that are not in your area of operation.

Using your PNC debit cards, you can earn rewards points through the PNC Purchase Payback program, allowing you to earn cash back by shopping on a regular basis. If you visit your business checking account regularly, you'll be able to access the reward center where you will find the offers that you want to use and then make purchases at retail stores that will give you money back. Money will be credited to your business checking account each month. You can also sign up for the Visa SavingsEdge program. It helps you earn discounts by shopping at merchants who accept PNC debit cards.

While PNC allows you to use your mobile phone, internet banking and bill pay with your business account, there are other online add-on features that you can use that can help you personalize your account. PNC also offers the Cash Flow Insight product, which is a suite of cash management tools that can be integrated with your bank's banking system. You can also add certain features to an existing software application. These features include accounting, payments, receivables, and other functions.

Where Does PNC Business Checking Fall Down?

  1. Bank accounts for business purposes typically charge a fee every month. There are many ways to waive this fee, but business owners should pay them anyway. There is no reason to pay fees every month for your business bank account. There is no need to pay fees every month to use your business bank account.
  2. PNC checks for business owners usually have a number of different fees that you can add to your account, some of which are pretty high compared to other checking account companies. You may be billed additional fees if your transactions aren't carried out within a given period of time, and you deposit cash outside your account. While such fees can be common for accounts with brick-and-mortar business banks, many business owners have few, if any, incidentals charged to them.
  3. You can apply for a checking account with PNC on the Internet or by calling a branch in your area. However, you must visit one of our locations before opening a new business account with PNC. You can get business checks from a brick-and-mortgage bank by going to their websites.
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