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Report: #1089312

Complaint Review: PNC Bank - Nationwide

  • Submitted:
  • Updated:
  • Reported By: Jim — Michigan
  • Author Not Confirmed What's this?
  • Why?
  • PNC Bank Nationwide USA

PNC Bank PNC Charged Fees for Performance Checking Even Though I Met Requirement for No Monthly Service Charge Nationwide

*General Comment: Two possibilities

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The PNC Performance Checking page specifically states that there is no monthly service charge if you meet any ONE of the following requirements:

  1. Total qualifying direct deposit of $2,000 or greater per statement period  OR
  2. $1,500 average monthly balance in checking OR
  3. $10,000 combined average monthly balance in PNC consumer deposits, loans and/or investments

Otherwise, the monthly service charge for Performance Checking is $10.

I met condition 3 with a $70,000 mortgage through them, but they still tried to charge me the $10 every few months and I always had to call to get it reversed.  I ended up leaving 10 cents in and started using Capital One 360 exclusively.  Sure enough, PNC started charging me $10 every month even though I still met condition 3.  After two months, they threatened to take me to collections if I didn't pay the negative balance.  I called and got the fees reversed because I met condition 3.  They then charged the fee again the next two months, gave me a credit to get the balance to 0 and closed the account.  They mailed me a final statement that said PNC accounts may be reported to ChexSystems.  They didn't word it to say they were specifically reporting my account to ChexSystems, but I'm nervous that they did, so I ordered a report from ChexSystems which I'm waiting for in the mail. 

Unfortunately, I just found out that Capital One 360 doesn't accept money orders, so it looks like I'm going to have to open up an asterisk free checking account at Huntington to get one cashed.  This is the type of scenario I was afraid of which had caused me to keep my PNC account open in the first place since my mortgage loan was supposed to qualify me for Performance Checking without fees. 

This report was posted on Ripoff Report on 10/03/2013 05:08 PM and is a permanent record located here: https://www.ripoffreport.com/reports/pnc-bank/nationwide/pnc-bank-pnc-charged-fees-for-performance-checking-even-though-i-met-requirement-for-no-m-1089312. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 General Comment

Two possibilities

AUTHOR: Striderq - ()

POSTED: Sunday, October 06, 2013

 Reading your post & looking at ONC website, I see two possible reasons you were being charged the fee. From their website on how to avoid the monthly service fee : "For Performance Select Checking, accounts eligible for inclusion in the combined average monthly balance requirement calculation include PNC consumer checking, savings, money market, certificate of deposit, retirement certificate of deposit, and/or investment accounts. For Performance Checking, accounts eligible for inclusion in the combined average monthly balance requirement calculation include PNC consumer checking, savings, money market, certificate of deposit, retirement certificate of deposit, line of credit, auto or home equity installment loan, mortgage loan and/or investment accounts.  Customer must request account be linked to receive relationship benefits. The outstanding balance on lines of credit, and the original principal amount on installment and mortgage loans, will be used to determine the combined average monthly balance." (Emphasis added)

Possibilty #1: If your account was the Performance Select then the mortgage was noteligible to be includd to help avoid the monthly service fee. If your account was the Performance Checking there may have been a problem with the titling of the two accounts (checking & mortgage) being diifferent.

Possibility #2: The mortgag account didn't get properly linked to checking to keep the service fee from being accessed.

 

Hope this helps explain what may have happened and how to avoid it at any bank you use.

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