Is PNC Bank better than Chase Bank?
The difference between the two is that PNC offers various banking tools, waivable monthly fees and opportunities for interest boosts, while Chase offers greater branch accessibility, sign-up bonuses and specifically tailored account options.
If access to bank branches is important to you, Chase has more than double what PNC Bank has. Chase also offers better CD rates.
- Overdraft fees: Most PNC checking accounts charge a $36 fee if you aren't opted into overdraft protection and overdraw your account by more than $5.
- Low savings APYs: The standard savings account pays little interest even at relationship rates.
If you're primarily looking for an account that will grow your savings, PNC may be the better option for you. Both banks rely heavily on monthly fees. Though the fees can be waived, there are many banks out there, particularly online-only banks, that feature accounts without the fees.
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.
The difference between the two is that PNC offers various banking tools, waivable monthly fees and opportunities for interest boosts, while Chase offers greater branch accessibility, sign-up bonuses and specifically tailored account options.
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.
Importantly, PNC and PNC Bank are not in financial distress or in danger of failing. As of September 30, 2022, both PNC and PNC Bank had regulatory capital ratios significantly in excess of the amount required to be considered “well capitalized” under U.S. banking regulations.
Fitch Ratings - New York - 16 Oct 2023: Fitch Ratings has affirmed PNC Financial Services Group, Inc.'s (PNC) and its primary operating subsidiary PNC Bank, NA's (PNCBNA) Long-Term (LT) and Short-Term (ST) Issuer Default Ratings (IDRs) at 'A+'/'F1'. The Rating Outlook is Stable on the long-term IDRs.
The company also provides financial services such as asset management, wealth management, estate planning, loan servicing, and information processing. PNC is one of the largest Small Business Administration lenders and one of the largest credit card issuers.
Is PNC going under?
The Probability of Bankruptcy of PNC Financial Services Group Inc (PNC) is 5.4% . This number represents the probability that PNC will face financial distress in the next 24 months given its current fundamentals and market conditions.
| Rank by Asset Size | Bank Name | Total Assets |
|---|---|---|
| 5. | U.S. Bank | $657.2 billion |
| 6. | PNC Bank | $554.11 billion |
| 7. | Goldman Sachs Bank | $538.13 billion |
| 8. | Truist Bank | $535 billion |
| RANK | BANK NAME | TOTAL ASSETS |
|---|---|---|
| 4 | Citigroup | $1.68 trillion |
| 5 | U.S. Bancorp | $650.7 billion |
| 6 | PNC Financial Services | $557.5 billion |
| 7 | Truist Bank | $527.5 billion |
| Bank | Forbes Advisor Rating | Learn More |
|---|---|---|
| Chase Bank | 5.0 | Learn More Read Our Full Review |
| Bank of America | 4.2 | |
| Wells Fargo Bank | 4.0 | Learn More Read Our Full Review |
| Citi® | 4.0 |
PNC Bank is investing $1 billion to open 100 new branches and renovate roughly 1,200 locations by 2028, the bank announced earlier this month.
Virtual Wallet with Performance Spend
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.
- Ally Bank.
- Citizens Bank.
- Bank of the West.
- US Bank.
- SunTrust.
- Union Bank.
- Wells Fargo.
- HSBC.
Our recent MarketWatch Guides consumer banking survey shows that 64% of Chase customers are extremely satisfied with their banking experience. Chase best suits customers who prefer many branch and ATM options, want a solid digital banking experience and can meet requirements to get monthly account fees waived.
The top three of PNC Corporate and Institutional's competitors in the Banking category are Razorpay with 41.98%, Oracle Financial Services with 12.07%, Temenos with 6.60% market share.
Chip Lupo, Credit Card Writer. PNC Bank is a subsidiary of The PNC Financial Services Group, Inc., a U.S.-based bank holding company headquartered in Pittsburgh, Pennsylvania, and founded in 1845. PNC Bank has been a subsidiary of The PNC Financial Services Group, Inc.
Is PNC a good bank for savings?
PNC's high-yield savings account offers a competitive rate. You can expect rates that are generally comparable to those of standard savings accounts offered by other brick-and-mortar banks if you choose a PNC standard savings account.
The 1983 merger of Provident National Corporation and Pittsburgh National Corporation to form PNC Financial Services brought together two highly-regarded banks, not just for their business philosophy, but also for their support of their regional culture.
PNC Bank is one of just many banks shutting down branches across the country in 2024. The bank recently announced that it was closing locations in multiple U.S. states. In some states, multiple PNC locations will close.
A group of about 20 activists and protesters gathered in front of PNC Bank's headquarters Downtown on Wednesday morning to call on the financial giant to divest from companies that manufacture weapons for the nation's military — some of which could be used in the Israel-Hamas conflict, they said.
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