PNC Business Checking: 2022 Review

PNC business checking stands out with multiple account options and incentives for new small-business customers.

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PNC Bank offers two core business checking accounts — Business Checking and Business Checking Plus — along with a handful of specialized checking solutions based on your industry and unique financial goals, such as Non-Profit Checking, Analysis Business Checking, Business Interest Checking and an Interest On Lawyers Trust Account.

While PNC does not offer a free business checking account, the bank does waive the monthly fees on most of its accounts for the first three months and the bar to waive the fees after that is pretty low.

On the PNC Business Checking account, for example, the $10 monthly fee is waived if you hit one of the following markers:

  • Maintain an average monthly balance of $500.

  • Make a minimum of $500 in purchases on a linked PNC business debit card during your billing cycle.

  • Generate at least $500 in monthly processing deposits via a linked PNC merchant services account.

The bank's straightforward accounts, coupled with a robust branch and ATM network, make PNC a solid option for business owners who prefer to bank with a brick-and-mortar financial institution. It's worth noting, however, that many online business checking accounts offer fewer fees and more perks.

Although PNC allows you to start an application online or over the phone, it’s important to note that you’ll need to visit a branch in person to actually open a business checking account. PNC has branch locations in 23 states across the Northeast, Midwest and South, plus Washington, D.C.

PNC business checking is best for small-business owners who:

  • Prioritize in-person banking at a brick-and-mortar.

  • Qualify to waive the monthly service fee.

  • Want to earn a sign-up bonus.

Pros and cons

Pros

  • Monthly fees waived for the first three months after account opening.

  • Welcome bonus for new customers.

  • Large branch network.

  • Earn cash back at select merchants with PNC Purchase Payback.

Cons

  • No free business checking account options.

  • $100 minimum opening deposit requirement.

  • Fee for using out-of-network ATMs.

  • High incidental fees, including for overdrafts and wire transfers.

  • Fee for syncing checking account with accounting software, including QuickBooks and Xero.

PNC business checking at a glance

Business Checking

Business Checking Plus

Monthly fee*:

$10 (multiple ways to waive).

$20 (multiple ways to waive).

Minimum opening deposit requirement:

$100.

$100.

APY:

None.

None.

Transactions:

Up to 150 fee-free transactions per month, then 50 cents per transaction after that.

Up to 500 fee-free transactions per month, then 50 cents per transaction after that.

Cash deposits:

Up to $5,000 per month with no fee, then 25 cents per $100 deposited.

Up to $10,000 per month with no fee, then 25 cents per $100 deposited.

Bonus:

$200 (terms apply).

$200 (terms apply).

*PNC waives the monthly fee for the Business Checking account, Business Checking Plus account and Treasury Enterprise Plan for the first three months after your account is opened.

How to open a PNC business checking account

While you can start your application online or over the phone, you ultimately need to visit a branch in person to open a PNC business checking account. PNC has branch locations in 28 states across the Northeast, Midwest and South, plus Washington, D.C.

PNC has branch locations in the following states:

  • Alabama.

  • Arizona.

  • California.

  • Colorado.

  • Delaware.

  • District of Columbia.

  • Florida.

  • Georgia.

  • Illinois.

  • Indiana.

  • Kansas.

  • Kentucky.

  • Maryland.

  • Massachusetts.

  • Michigan.

  • Minnesota.

  • Missouri.

  • New Jersey.

  • New Mexico.

  • New York.

  • North Carolina.

  • Ohio.

  • Pennsylvania.

  • South Carolina.

  • Tennessee.

  • Texas.

  • Virginia.

  • West Virginia.

  • Wisconsin.

To apply, you need to provide basic information about yourself and any additional business owners who own 25% or more of the business. You’ll also need to provide your Social Security number, employer identification number (or business tax ID) and basic details about your business.

If you start your application online, you’ll need to include a valid government-issued photo ID. But you will need to bring two valid forms of ID — either two forms of government-issued photo ID or one government-issued photo ID and one secondary form of ID, such as a rental agreement or utility bill — to finish your application at a PNC location. You also need to provide legal business documentation, which will vary based on your entity type.

Once your application has been reviewed and approved by PNC, you’ll be able to fund your account — PNC business checking accounts require a $100 minimum opening deposit — and start managing your finances.

PNC sign-up bonus

PNC offers a welcome bonus of $200 or $500, depending on the account, but you need to request an offer coupon from the PNC website and bring it with you to the branch.

To earn the $200 bonus for the Business Checking or Business Checking Plus account, you’ll need to:

  • Maintain a minimum average balance of $5,000 for each of the first three statement cycles.

  • Make at least 20 total debit card transactions within the first three statement cycles, including debit card purchases made at a point of sale using your signature or PIN, as well as purchases made online or electronically using your debit card number.

To earn the $500 bonus for the Treasury Enterprise Plan or Analysis Business Checking account, you’ll need to:

  • Maintain a minimum average balance of $30,000 for each of the first three statement cycles.

PNC will credit your business checking account directly within 90 days if these conditions are met.

Where PNC business checking stands out

Account options: With PNC Bank business checking, you aren’t limited to a single account option. You instead can choose the account that best suits your banking needs — in terms of monthly fee, included fee-free transactions, cash deposits and other features — and change or upgrade as your business evolves.

Incentives for new customers: PNC offers a few standout perks for new customers with its business checking accounts. For starters, most PNC business checking accounts also waive the monthly service fee for the first three months. You can also earn a sign-up bonus — either $200 or $500, depending on which account you choose.

ATMs and branch access: PNC Bank offers access to 2,500 branch locations and nearly 9,300 in-network ATMs across the U.S. Each of the business checking accounts includes fee-free access to any PNC Bank ATM and, with the exception of the Business Checking account, PNC does not charge fees for out-of-network ATM use (although the owner of the ATM may charge separate fees). The Business Checking account does include two reimbursements per month of fees charged by PNC for using out-of-network ATMs.

Business debit card rewards: With your PNC business debit card, you’ll have access to the PNC Purchase Payback program, which allows you to earn cash back for everyday spending. Through online banking, you can visit the rewards center, activate the offers you want, and then make purchases at eligible retailers to earn cash back directly to your business checking account.

In addition, you also have the option to enroll in the free Visa SavingsEdge program. With this program, you can earn automatic discounts by using your PNC business debit card to make purchases at participating merchants.

Online add-ons: Although PNC business checking includes free mobile banking, online banking and bill pay with all accounts, it also offers add-ons that can be used to further customize your account. Most notably, PNC offers Cash Flow Insight, a suite of cash flow management tools that connects to your online banking.

The basic version of Cash Flow Insight allows you to create a cash flow forecast and visualize the impact of actual and projected transactions. You can also track spending for all activities across your business checking account and compare your cash position month to month and year over year. This feature is $10 per month but is free if you have a Business Checking Plus account.

You also have the option to upgrade your software and add payables, receivables, payments, invoicing, approvables and more.

Where PNC business checking falls short

Monthly fees: PNC business checking accounts require a monthly fee. While most accounts waive the fee for the first three months, and there are several ways to waive the fees after that, business owners still need to budget for these fees. There are plenty of free business checking accounts out there if you don't want to deal with monthly fees.

Additional fees: PNC business checking accounts can carry a lot of additional fees, including some that are particularly high compared with competitors.

  • $36 for overdrafts.

  • $90 for outgoing domestic wire transfers; $125 for outgoing international wires. Up to $20 for incoming wires.

  • $3 per transaction at non-PNC ATMs. (The Business Checking Plus account does not charge out-of-network ATM fees).

  • $15 per month for direct integration with QuickBooks.

You'll also be charged if you exceed the number of fee-free transactions and cash deposits included in your account.

While these types of fees are common among brick-and-mortar-based business accounts, plenty of online business accounts have few, if any, incidental fees.

Account opening: Although PNC allows you to start your application online or over the phone, you can open a business checking account only by visiting a branch location. In comparison, brick-and-mortar competitors like Chase, Bank of America and Wells Fargo all give you the ability to open business checking accounts online.

Compare business checking accounts

Deposits are FDIC Insured

NerdWallet rating 
NerdWallet rating 
NerdWallet rating 
Monthly fee

$0

Monthly fee

$16.00

Waived with $5,000 minimum balance

Monthly fee

$0

APY

N/A

APY

N/A

APY

N/A

Bonus

$400

Requirements to qualify

Bonus

$200

See offer page for more details

Bonus

N/A