We switched to PNC bank after moving from a small Colorado bank after we moved to the east coast.
I just wanted to give some pros and cons to PNC if anyone was interested in opening an account with them.
These are my personal pros and cons. I moved my business checking to them, so it won't be entirely applicable to all individuals.
Pros:
-Physical location
-Website is easy to navigate
-Payroll, and transferring to brokerages is seamless
-Since I transfered my business and personal accounts, this bulletpoint won't be applicable to everyone. I have their regional managers number for whenever I have any issue. They're super responsive and helpful when the need arises. She's always ready 24/7 to help.
Cons:
-Supposibly no fees. They already "mistakingly" hit me with two charges of $55. One was remitted the other I assume they forgot again and I'll be calling about shortly.
-Checks aren't free. Business checks start at circa $120. The manager wouldn't lift this fee.
-Credit cards are just bad. They'll give you a crazy low limit and only offer upwards of 1.5% cash back.
They track in two separate accounts for business banking and this causes a massive headache with accounting.
-Domestic wire transfers are far more difficult than my other bank. Just calling to initiate a transfer hasn't been an option.
Also they cost double what other banks do ($45)
-10k limit to foreign entities unless it's manually lifted. This is standard I've found, but last time they couldn't resolve it diligently, so I just paid a little daily over a week for my first international order with them.
-High limit for the account that I have "without fees"
-They have advertisements on their website in your banking section. No real need to explain.
TLDR; All in all, PNC is the worst bank I've ever had the displeasure of working with.
Their practices are antiquated, and there's a hidden fee around every corner.
Even though it's a massive headache, I'm going to switch to another bank again. I'm looking for another bank for my business and personal accounts if anyone has any suggestions.
Submitted March 11, 2021 at 09:53PM by caleb48kb https://ift.tt/3tcODGS
