Is PNC a good bank to bank with?
PNC will best serve those who are looking for a bank with a local branch office, at least in one of the many states in which the bank operates. It's also a solid choice if you're looking for a full-service bank that provides credit cards, loans, and investment services, in addition to banking.
The bank offers a well-rated mobile app that incorporates tools for money management. PNC Bank was named the most trusted bank as part of the 2023 Bankrate Awards, where the best financial products of the year were determined.
- Higher interest rates reserved for very high account balances, and are lower than other money market account rates.
- Not available in all states or locations.
- High minimum balance requirement -- $5,000 -- to maintain an account (or link another PNC account to avoid monthly service fee).
PNC Bank is a member of the Federal Deposit Insurance Corporation (FDIC). The Federal Deposit Insurance Corporation (FDIC) is a federal agency organized in 1933 that insures depositors' accounts up to the insured amount at most commercial banks and savings associations.
Easy Access With ATM Withdrawals
For example, PNC cardholders can enjoy fee-free access to approximately 60,000 PNC and Partner ATMs across the country. This makes functions like withdrawing cash, checking balances, or even depositing money into your account easy and convenient.
The Probability of Bankruptcy of PNC Financial Services Group Inc (PNC) is 5.6% . This number represents the probability that PNC will face financial distress in the next 24 months given its current fundamentals and market conditions.
PNC can be better than Chase in some ways but not others. Chase has more branch locations than PNC, but PNC has more ATM locations. Both banks have a similar low APY for savings accounts.
Importantly, PNC and PNC Bank are not in financial distress or in danger of failing.
Is PNC Bank Good for Savings? If PNC's high-yield savings account is available to you, it could be a good choice because it has a relatively high rate, no monthly fees, and no minimum balance required to earn the highest APY.
PNC Bank's rating is a B+, better than Wells Fargo or TD Bank, but it too gets low marks for its fees and customer satisfaction. The banks above are worth considering, but they're not your only options. The best banks for you are the ones that offer what you need from a financial services company.
Who owns PNC?
As you can see in the following chart, the majority of PNC's 529 million shares are held by institutional investors. Company insiders, including board members and corporate executives, own a further 0.32% of the outstanding common stock. And the public at large owns the remaining 17%.
- Bank of America – Best Overall Bank.
- Lili Banking Services: A Modern Banking Solution for Small Businesses.
- Chase Bank – Best for Checking Account.
- Wells Fargo – Best for Small Business.
- Ally Bank – Best for Savings Account.
- US Bank – Best for Customer Service.
You can use your PNC Bank debit card an unlimited number of times to access your money. However, the amount of cash you can access via an ATM in total may have a cap. Typical ATM limits fall between $300 to $1,000 per day, but may be as high as $1,500 or more.
It was established in 1804 and as of September of 2023, it had grown to 58,094 employees at 2,399 locations. PNC Bank's savings rates are 9X the national average, and it has a B health rating.
Make $2,000 in direct deposits to your Spend account each monthly statement period ($1,000 for WorkPlace and Military banking customers). Keep an average monthly balance of $2,000 in checking and/or Reserve accounts. Maintain a combined balance of $10,000 in PNC deposit accounts.
The agency “views PNC's franchise as strong given its national and diversified business mix, solid deposit base and steady non-interest income,” Fitch said, adding that it views the bank's “risk profile as generally superior to most banks in its peer group given its robust risk controls and underwriting standards, ...
BBVA customers will find their branches being converted to PNC Bank. Pittsburgh-based PNC Bank closed its acquisition of BBVA's American banking business in June, and BBVA customers who haven't already seen changes to their deposit, credit or investment accounts should experience them by early October.
PITTSBURGH, Oct. 12, 2021 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today announced it has completed the conversion of 2.6 million customers, 9,000 employees and nearly 600 branches across seven states from BBVA USA to PNC Bank.
Sale to PNC
On June 19, 2011, PNC Financial Services agreed to buy RBC Bank USA from Royal Bank of Canada for $3.45 billion. The sale of RBC Bank closed in March 2012. Upon acquisition, all RBC Bank branches were rebranded as PNC branches and the RBC Bank brand became dormant for US customers.
- JPMorgan Chase & Co Headquarters. 309,926. $239.4B.
- Bank of America Corp Headquarters. 213,000. $171.9B.
- Wells Fargo & Co Headquarters. 226,000. $115.3B.
- Capital One Financial Corp Headquarters. 54,200. $49.5B.
What is the most reliable bank in USA?
- Best Banks of March 2024.
- Capital One Bank.
- Chase Bank.
- Axos Bank.
- Discover Bank.
- Synchrony Bank.
- TD Bank.
- Regions Bank.
- First Republic Bank (FRC) . Above average liquidity risk and high capital risk.
- Huntington Bancshares (HBAN) . Above average capital risk.
- KeyCorp (KEY) . Above average capital risk.
- Comerica (CMA) . ...
- Truist Financial (TFC) . ...
- Cullen/Frost Bankers (CFR) . ...
- Zions Bancorporation (ZION) .
The bank expects its total core noninterest expense for the fourth quarter to be up 3% to 4%, which excludes charges related to the workforce reduction. Average deposits at the bank fell 3.8%, to $422.5 billion, in the third quarter.
The major risks faced by banks include credit, operational, market, and liquidity risks. Prudent risk management can help banks improve profits as they sustain fewer losses on loans and investments.
Checking and Savings.
Accounts for spending, planning and saving + digital tools to help you manage your financial life. No minimum balance or monthly fees.
