Your Business Checking Preferred Account will
be Transferred to a New Account In June 2020
We are enhancing our products to better meet your needs.
At PNC, we’re constantly exploring ways to enhance your experience with us. By simplifying our account offerings, we will be better able to serve your banking needs and provide you with options to manage your cash flow.
Between June 10 and June 18, 2020, PNC will transfer your Business Checking Preferred account to either Business Checking, Business Checking Plus or Treasury Enterprise Plan.
No action is required on your part unless you would like to discuss other business checking account options before the transfer.
All updated accounts being transferred will keep the same account number and continue to use the same checks. Previously authorized payments and deposits to the account will continue, as well as preauthorized bill payments and transfers.
You will receive a detailed conversion packet in the mail in February 2020. This will include the features, benefits and pricing for the account you'll transfer to in June 2020.
The Monthly Account Maintenance Fee will be waived for your first statement cycle following the transfer.
For questions related to your account or to discuss your options:
Meet With Us at a PNC Branch
Schedule an appointment
Call Us
Call 1-877-BUS-BNKG
(1-877-287-2654)
Monday – Friday: 7 a.m. – 10 p.m. ET
Saturday & Sunday: 8 a.m. – 5 p.m. ET
Learn More
Frequently Asked Questions »
The monthly statement cycle review checks all four options above to determine if one of the account fee options were met to avoid the monthly account maintenance fee - you do not need to choose one option or qualify in the same manner each cycle to avoid the fee.
Additional Notes About Your Account Transfer
- Accounts being transferred will keep the same account number and continue to use the same checks. Previously authorized payments and deposits to the account will continue, as well as preauthorized bill payments and transfers.
- The Monthly Account Maintenance Fee will be waived for your first statement cycle following the transfer. Review more details about when the Monthly Account Maintenance Fee and service charges will begin for your account.
Will I receive more information from PNC about my account transfer?
Yes. In February, you will receive a packet of information with further details about the business checking account’s features, benefits and pricing you will be transferred to so you will have time to review and ask questions before the June transfer date.
When will my account be transferred?
We will transfer your account to your new business checking account type between June 10 and June 18, 2020, unless you have already requested your account be changed to a different checking account. Regardless of which date your checking account is transferred, no action is required on your part unless you would like to discuss other business checking account options.
Where can I find other PNC business checking accounts to review if I prefer to be transferred to another checking account?
Other Available PNC Business Checking Accounts: Features and Benefits
PNC selected your new business checking account for you based on the historical activity and balances in your account. Review the chart below to compare the features and benefits of other PNC business checking accounts. If you would like to select a different account, you can contact us by phone at 1-877-287-2654, Monday - Friday, 7 a.m. - 10 p.m. / Saturday & Sunday, 8 a.m. - 5 p.m. ET, schedule an appointment, or visit your local PNC Bank branch.
You may also use the Business Checking Account Selector tool to compare PNC’s business checking accounts and find one that fits your needs.
| Product Features and Benefits | Business Checking | Business Checking Plus | Treasury Enterprise Plan[6] | Business Interest Checking | |
|---|---|---|---|---|---|
| Monthly Account Maintenance Fee | $10 | $20 | $50 | $20 | |
| No Monthly Account Maintenance Fee if you meet any ONE of the following requirements | |||||
| Average Monthly Collected Balance | $500 | $5,000 | $30,000 | $5,000 | |
| Minimum monthly purchases with a linked[1,2,3] PNC credit card | $500 | $5,000 | N/A | N/A | |
| Minimum monthly processing deposits from PNC Merchant Services®[2,4,5] | $500 | $5,000 | N/A | N/A | |
| Relationship Balance (Business DDA or MMDA)[2] | N/A | $20,000 | N/A | N/A | |
| Other Account Features and Fees | |||||
| Monthly Transaction allowance at no charge[7] | 150 | 500 | 2,500 | 150 | |
| Fee for each additional over the allowance limit | $0.50 | $0.50 | $0.50 | $0.50 | |
| Monthly Cash Deposits at no charge[8] | $5,000 | $10,000 | $50,000 | $5,000 | |
| Fee for each $100 in additional cash deposits | $0.25 | $0.25 | $0.25 | $0.25 | |
For businesses who want multiple checking accounts and earnings credit for all balances.
- Analysis Business Checking
- Monthly Account Maintenance Fee: $20
- Per-item-usage pricing
- Link multiple PNC Bank business checking accounts
- Applies an earnings credit on all balances
Will all the accounts in my current Preferred relationship be transferred?
If you had more than one account in your Business Checking Preferred relationship each account will transfer to Business Checking, Business Checking Plus or the Treasury Enterprise Plan based on the historical activity and balances in each account.
Will my Master Billing Account remain the same?
If your account/s is transferred to Business Checking or Business Checking Plus:
As of your June billing statement, your account service charge will be applied to the account that accumulated the charges. The account service charge will no longer be charged to another account.
If your account/s is transferred to Treasury Enterprise Plan:
Your current master billing account will remain the same. If you had Business Checking Preferred sub-accounts, they will remain in the Treasury Enterprise Plan as beneficiary accounts. Each beneficiary account’s service charge will continue to be billed to the existing master billing account.
Will there be changes to my statements or service charges?
Please review the table below to determine the dates when you will receive statements and when service charges will be debited from your account.
|
Business Checking, |
Treasury Enterprise Plan[6] |
Account Service Charges Checking account service charges include but are not limited to:
|
Service charge cycles typically run from the first of each month through the last day of the month. In these cases, the account will be debited on the first business day of the following month. Example: June checking account service charges are debited first business day in July. |
There will be no change to your current statement experience. Service charge cycles typically run from the first of each month through the last day of the month. The account will be debited on the last business day of the following month. Example: June checking account service charges are debited the last business day in July. June's account statement will be available to view in PNC Online Banking, PINACLE® Express, or PINACLE® on the first business day in July and paper statements (if applicable) will be mailed on first business day in July. |
Treasury Management Service Charges |
Treasury Management Service charges typically run from the first of each month through the last day of the month. In these cases, the account will be debited on the first business day for activities incurred two months prior. Treasury management service charges include but are not limited to: PINACLE® Express, Wire, ACH Origination, Cash Logistics. Example: June Treasury Management service charges are debited on the first business day in August. |
There will be no change to your current experience. Treasury Management Service charges typically run from the first of each month through the last day of the month. In these cases, the account will be debited on the last business day for activities incurred one month prior. Example: June Treasury Management service charges are debited the last business day in July along with the account service charges. |
Detailed Statement of Fees |
Accounts will continue to receive a checking account statement. Accounts will no longer receive an Account Analysis Statement. The breakdown of Account Service Charges and Treasury Management Service Charges can be found on the checking account statement. Example: June's checking account statement will be available to view in PNC Online Banking, PINACLE® Express, or PINACLE® on the first business day in July and paper statements (if applicable) will be mailed on the first business day in July. |
You will continue to receive a checking account statement, and an Analysis Statement (invoice of detailed charges), which arrives approximately two weeks before the debit of fees. |
Accounts transferring to Business Checking or Business Checking Plus:
As of your June billing statement, your total Account Service Charge will be applied to the account that accumulated the charges. The account service charge will no longer be charged to another account.
As your transfer will occur before the collection of your May Account Service Charges and Treasury Management Service Charges, you will see a debit for May service charges on the last business day of June. June Account Service Charges will be debited on the first business day following your service charge cycle date, for most Customers this will be the first business day in July.
Can I opt-out of this account transfer?
You cannot opt-out of this account transfer because we will no longer maintain or service your current account type, however, we are happy to discuss your unique needs. Please contact us by phone at 1-877-287-2654, Monday - Friday, 7 a.m. - 10 p.m. / Saturday & Sunday, 8 a.m. - 5 p.m. ET, schedule an appointment, or visit your local PNC Bank branch if you would like to have a conversation.
Will my Cash Flow Insight fees be affected by this change?
The following checking accounts come with Cash Flow Insight at no charge:
Business Checking Plus
The following checking accounts will receive a $10 Cash Flow Insight fee:
All other business checking accounts
This $10 fee is waived if you are enrolled in any combination of Payables, Receivables, or Accounting Software Sync. Learn More About Payables, Receivables, and Accounting Software Sync.
Have questions? We're here to help.
Important Legal Disclosures & Information
PNC linked business credit card eligible purchases are purchases of goods or services made by you or your authorized user with an eligible linked business credit card account and includes balance transfers and convenience checks that are not subject to the cash advance rate. Eligible purchases do not include interest, fees and charges assessed to the business credit card account, cash advance transactions (including convenience checks that are subject to the cash advance rate), and purchases made at merchants with gambling or gaming merchant category codes. Subject to credit approval.
A maximum of 10 eligible accounts may be linked to a business checking account in each of the business checking, money market, business credit card and merchant services categories. Each eligible account may only be linked to one business checking account. Some accounts may not be eligible to be linked based on titling structure, product type or other constraints. Subject to credit approval.
Subject to credit approval. Additional fees apply. PNC Bank, National Association is the creditor and issuer of the PNC Bank business credit cards.
A qualifying PNC Merchant Services processing deposit is an electronic deposit made by PNC Merchant Services directly into this checking account. Transfers made from one account to another or processing deposits from other merchant services sources are not eligible to meet this requirement.
Merchant Services are provided by PNC Merchant Services Company and are subject to credit approval. PNC Merchant Services is a registered mark of The PNC Financial Services Group, Inc.
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The monthly account maintenance fee will be waived on up to four (4) beneficiary checking accounts. The monthly average collected balance, transaction, and cash deposited volumes are aggregated for the master and four beneficiary accounts to determine monthly account maintenance fee, transaction and cash deposit fee amounts.
NOTE: Effective April 1, 2020: You will have the option to add more than four (4) beneficiary accounts for an additional $10.00 monthly account maintenance fee for each beneficiary account over four. The monthly average collected balance, transaction, and cash deposited volumes are aggregated for the master and all beneficiary accounts to determine earnings credit, master monthly account maintenance fee, transaction and cash deposit fee amounts.
Based on the combined volume of deposits, deposited items, paid items, and ACH credits and debits received.
Monthly limit for free cash deposits includes over-the-counter, at the night depository, and via Quick Deposit.
QuickBooks® is a registered trademark of Intuit®, Inc.
Cash Flow Insight is a registered mark of The PNC Financial Services Group, Inc.
U.S. Patent Nos. 10,402,910 and 9,965,808, and others patents pending.
DepositNow is a registered trademark of Fundtech, Inc.
PNC, PINACLE, Deposit On-Site®, and Deposit On-Site Mobile® are registered marks of The PNC Financial Services Group, Inc. (“PNC”).
Banking products and services and bank deposit products are provided by PNC Bank, National Association, a wholly-owned subsidiary of The PNC Financial Services Group, Inc. and Member FDIC.
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