PNC Business Checking Review 2024: Pros, Cons, & Features

PNC Business Checking Review 2024: Pros, Cons, & Features

The PNC Bank Business Checking Plus account addresses a significant need for small business owners who find the low transaction limits of typical brick-and-mortar business checking accounts restrictive.

Its highly-rated online tools enable you to complete most business transactions from anywhere. However, those near a PNC branch will benefit the most from the account. Check out our review to determine if it fits your business correctly.

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PNC Review

PNC Bank offers two primary business checking accounts, Business Checking and Business Checking Plus and several specialized checking solutions tailored to different industries and financial goals, such as Non-Profit Checking, Analysis Business Checking, and Interest On Lawyers Trust Accounts.

While PNC doesn’t provide a free business checking account, waiving the monthly fees is relatively easy. For the PNC Business Checking account, the $10 monthly fee is waived if you meet one of these criteria:

  • Maintain an average monthly balance of $500
  • Make at least $500 purchases using a linked PNC business debit card during your billing cycle
  • Generate at least $500 monthly processing deposits through a linked PNC merchant services account

PNC’s straightforward accounts and extensive branch and ATM network make it a strong choice for business owners who prefer a brick-and-mortar bank. However, it’s worth noting that many online business checking accounts offer fewer fees and more perks.

While you can begin the application process online, you must visit a branch in person to open a business checking account. PNC has branches in 26 states across the Northeast, Midwest, and South, as well as in Washington, D.C.

>> Discover Bluevine Business Checking Benefits! >>

Pros & Cons PNC Bank


  • Extensive branch network
  • High transaction and cash deposit limits
  • Highly rated mobile app
  • First three months waive monthly fees after account opening
  • Welcome bonus available for new customers
  • Cash back rewards at select merchants with PNC Purchase Payback
  • In-person banking for customers near branches
  • Cash sign-up bonus upon meeting specific requirements


  • Fees for using out-of-network ATMs
  • No free business checking account options
  • $100 minimum opening deposit is required
  • High incidental fees, such as overdrafts and wire transfers
  • Charge for syncing checking account with accounting software, including QuickBooks and Xero

Is PNC Bank Legit?

PNC Bank is a legitimate and well-established financial institution that has been serving customers for decades. With branches in 29 states and Washington, D.C., it’s a solid choice for individuals who appreciate digital banking tools but still want the option to visit a physical location. The bank is FDIC-insured, meaning deposits up to $250,000 per depositor are protected by the federal government.

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When is PNC Bank a Good Fit?

  • Your business has a low transaction volume: A Business Checking account allows up to 150 monthly fee-free transactions, covering deposited items, paid items, and ACH credits and debits received. Additionally, you can deposit up to $5,000 without incurring a cash deposit fee.
  • You’re looking for a bank with rewards for opening a business checking account: PNC Bank is featured in our best bank account promos & offers list, with cash bonuses ranging from $200 to $1,000, depending on your business checking product.
  • You want to earn cash back on debit card purchases: PNC Purchase Payback lets you earn cash rewards when you use your PNC Visa card at participating retailers.

When PNC Bank Is Not a Good Fit?

  • You need nationwide access to in-person banking: PNC Bank has brick-and-mortar branches only in Washington, D.C., and 28 states. For broader access, consider Chase, which has branches in 48 states.
  • You want to earn interest on checking deposits: PNC Bank doesn’t offer interest-earning business checking accounts. Bluevine’s standard business checking account is a top choice for earning interest, offering 2.0% APY on balances up to $250,000 with no monthly fee.
  • Your business sends wire transfers frequently: PNC Bank charges higher fees for outgoing wires than other banks. In contrast, Mercury provides free wire transfers for incoming and outgoing transactions.

Account Basics

PNC Business Checking provides several account options tailored to the diverse needs of small businesses. Here’s an overview of each account:

Business Checking

The PNC Business Checking account is a straightforward option, ideal for small business owners with a modest transaction volume. It includes 150 free transactions and up to $5,000 in free cash deposits each month.

A minimum deposit of $100 is required to open this account, and there’s a $12 monthly maintenance fee after the first three statement cycles. However, you can waive this fee by meeting one of these conditions:

  • Maintain an average monthly balance of $500
  • Spend $500 on eligible purchases using a PNC business credit card
  • Link a PNC merchant services account and receive at least $500 in qualifying monthly deposits

The account also provides a debit card, fee-free transactions at any PNC Bank ATM, cash-back offers, and access to PNC’s money management tool, Cash Flow Insight. Additionally, PNC Bank often offers welcome bonuses for new customers who open an account and meet certain criteria.

Business Checking Plus

The PNC Business Checking Plus account is ideal for small businesses with a higher transaction volume. It offers 500 free transactions and up to $10,000 in free cash deposits each month.

To open a Business Checking Plus account, a minimum deposit of $100 is required, and there’s a $22 monthly maintenance fee after the first three statement cycles. You can waive this fee by meeting one of the following conditions:

  • Maintain an average monthly balance of $5,000
  • Spend $5,000 on eligible purchases using a PNC business credit card
  • Link a PNC merchant services account and receive at least $5,000 in qualifying monthly deposits
  • Maintain a combined balance of $20,000 between a linked PNC business checking account and a business money market account

The Business Checking Plus account also includes all the standard Business Checking account features.

Treasury Enterprise Plan

The PNC Treasury Enterprise Plan isn’t just an account—it’s a comprehensive package. It includes an Analysis of Business Checking and a choice between two investment options: the Premium Business Money Market account or the MMDA Sweep account.

This plan provides 2,500 free transactions and up to $50,000 in free cash deposits each month. Like Analysis Business Checking, it helps small business owners consolidate fees, balances, and bookkeeping.

Account holders can add up to four beneficiary checking accounts without additional monthly maintenance fees. A $10 monthly fee applies for each additional account beyond four.

After the first three statement cycles, the plan requires a $100 opening deposit and a $50 monthly maintenance fee. You can waive these fees by maintaining a combined balance of $30,000 in your accounts.

Analysis Business Checking

PNC Analysis Business Checking accounts are ideal for business owners who need multiple checking accounts and prefer paying only for the services they use.

This account earns credit on the deposit balance to help offset fees. It requires a $100 deposit to open and has a $25 monthly maintenance fee. Additional fees apply based on the services and features your business uses, including upgrades to online banking features.

The account allows you to link multiple business checking accounts for easier bookkeeping and includes a no-annual-fee Visa Business credit card.

Other PNC Business Checking Accounts

In addition to the primary accounts, PNC offers several niche business checking accounts, including:

  • Business Interest Checking
  • Interest On Lawyers Trust Account (IOLTA)
  • MMDA Sweep

PNC Bank Alternatives


Small business owners need a checking account that enhances, not restricts, their daily operations. Bluevine Business Checking might be just the solution. 

While no fees and unlimited transactions are standard for online business checking accounts, Bluevine offers one of the highest interest rates: 2.00% on balances up to $250,000.

It’s important to note that Bluevine is a financial technology company, not a bank. Its banking services are provided by Coastal Community Bank, FDIC-insured and participates in the Insured Cash Sweep program through the IntraFi network.

>> Get Started With Bluevine >>


Lili is a financial technology company offering business checking accounts ideal for digitally savvy business owners who rarely use checks. Partnering with Choice Financial Group, Lili ensures up to $250,000 deposits through the Federal Deposit Insurance Corp.

Originally designed for freelancers when launched in 2018, Lili has since expanded its online business checking accounts to cater to most business entity types. Additionally, it has introduced higher deposit and transfer limits to support larger businesses.

>> Get Started With Lili >>


With minimal fees, interest-bearing accounts, and a broad ATM network, Axos Bank is an excellent option for those who prefer digital banking. Compared to many online banks, Axos provides a wider range of accounts, helping you save money on fees. While it might not offer the highest savings rates, the yields and rewards on its checking accounts are impressive.

The Axos Bank Rewards Checking account stands out with no monthly maintenance fee and unlimited domestic ATM fee reimbursements. Additionally, it offers a maximum APY that exceeds many savings account rates. Your earnings will vary based on how you use the account and the other Axos Bank accounts you hold.

>> Get Started With Axos Bank >>

Frequently asked questions

PNC has branches in 29 U.S. states and Washington, D.C., with a concentration in the Midwest, Northeast, and Southeast regions.

PNC doesn’t offer a standard business savings account, but you can earn interest on excess cash through other options. These include the Premium Business Money Market account, an MMDA Sweep Account, and certificates of deposit (CDs).

You can start your application over the phone or online, but you’ll need to meet with a banker on a video call to finish setting up your account. You’ll need your business’s Tax Identification Number and a valid email address to start the process online.

To finish setting up your account on a video call, you’ll need to verify a government-issued photo ID, a secondary form of ID, and documentation of your business registration.

Bottom Line – PNC Business Checking Review

PNC Bank offers various business checking account options along with excellent Cash Flow Insight tools to help review and enhance your business operations. With an extensive branch network, it’s a great choice if you need in-person banking services.

PNC provides welcome bonuses for qualified new accounts and waives monthly fees for the first three months. However, if you’re looking for a free business checking account that can be opened online, you might want to consider another financial institution.


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Judith Harvey is a seasoned finance editor with over two decades of experience in the financial journalism industry. Her analytical skills and keen insight into market trends quickly made her a sought-after expert in financial reporting.