Report: #1162990

Complaint Review: PNC Bank

  • Submitted: Thu, July 17, 2014
  • Updated: Thu, July 17, 2014
  • Reported By: Andy — Berwick Pennsylvania
  • PNC Bank


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Thank you SO much PNC! After 25 years of service you they have advised me that they have killed their
free business checking and are now charging an unreasonable $12.00 fee and are demanding a huge deposit to maintain checking without this fee!!! I am heading down to their lousy bank Saturday and cancelling ALL my accounts and switching them to my local bank who still cares about its customers!  I encourage anyone else affected to do the same - let the bank know by the loss of our dollars how much we hate them! Share this with all your friends and spread the word across the world if you think this is unreasonable!

So folks, this is what PNC thinks of you after 25 years of service:
Dear Valued Business Customer,

In August, your Free Business Checking accounts will change to our new Business Checking. Because you

are a valued customer, we want to help minimize any impact this change may have for your business. To

help, we have set up a special customer site with more information.
To avoid a monthly $12.00 fee you must:
1. Maintain an average monthly collected balance of $1,500 in your account.
2. Have a PNC Merchant Services® account.
3. Use a linked PNC Business credit card to make a minimum of $1,000 in eligible purchases each month.

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This report was posted on Ripoff Report on 07/17/2014 06:39 PM and is a permanent record located here: 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 Consumer Comment

You are not being ripped off

AUTHOR: coast - ()

“who refuse to consider any change”

They did make a change. They discontinued free banking for the low balance non-profitable accounts.


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#2 Author of original report

Point taken, and yes, plenty of other businesses are eating at our money too!

AUTHOR: Andy - ()

Point taken. And you are correct. There are many other rip-off’s going on, and I have used other outlets to complain about them. I am tired of business and government taking more than they deserve because they are too stupid, lazy and greedy to tighten their own belts and to change their business model. The banking fees are being enacted because the liberal freeloaders in our government, and greedy bankers running the Federal Reserve, have chosen to print money so it can be given away to programs and projects that should not be funded in the first place, and because the government refuses to tighten their own belt.

The banking industry has very limited ways in which to make money - the time honored way has been to use the money on deposit and invest it to make money. Banks, for obvious reasons, can't invest in anything that may lose the money on loan and now money loaned is worthless due to the low interest rates that the Fed refuses to raise. (Of course, this problem was initiated by uneducated consumers listening to greedy bankers who advised them to use their homes as banks to obtain money to pay off credit debt they shouldn't have incurred in the first place.)

This is why the banks deserve a Ripoff report - not just PNC, but ALL of them. They need to reconsider their business model on a global scale or no amount of fees will pay their expenses. Unfortunately, the banking system is controlled by a narrow minded group of Harvard graduates who have no practical knowledge and who refuse to consider any change, or even that they are at fault. No, this is not about a $12 fee - it is about bad business practice, and the practice of simply charging the consumer rather than resolving a problem.

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#3 Consumer Comment

Your local bank..

AUTHOR: Robert - ()

 Guess is great you have such a wonderful local bank.  If that meets your needs then more power to you and I hope you actually have continued success with your artwork.  But at the same time I will leave you with this thing to think about, keep a very close eye on your account and any "fine print" the bank sends you.   Because don't be surprised if they all of the sudden feel the need to charge a monthly service fee.

I do want to point out a few other things.   You are complaining that the monthly fee of $12 would extract too much of your monthly profit to make it worth while.  Okay let's say you make $9000/year, which gives you a $750/month income.  $12 is actually only 1.6% of your monthly income.  Yet in how you are writing this that fee alone would kill your entire business and desire...umm don't you think you are overracting just a bit.

To put this in perspective and again something to think about, what do you do when your art supplies are raised?  After all I am sure in the years you have done this those costs have increased at least a few times..right?

I can just about guarantee you that you did one of three things.  You either "ate" the cost lowering your profit, you raised your prices, or you found cheaper supplies.  But one thing I can guarantee you that you did not do was write a RipOff report on the store that raised their prices.  So why when the bank raises it's fees in the cost of doing business is it all of the sudden the worst thing you have ever seen?  Is it just because the bank used to be free?    Well that does not matter.  After all let's say you are a painter and your canvas went from $100 to $112, the net cost is the same as the bank that went from $0 to $ now costs you $12 more.  So perhaps you can come back and say why the bank's move deserved a RipOff report and every store you have ever encountered that raised their prices doesn't.


By the way I am NOT defending the bank,  I don't even have this bank where I live.

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#4 Author of original report

Incorrect - I am one of tens of thousands in this position

AUTHOR: Andy - ()

Sir, I beg to differ with you, but do appreciate your response. You however are close minded. I am an artist and writer and bring in less than $10,000 per year in these activities. I do it more for enjoyment than for profit, but do sell some of my work. As such, I require a business license, sales tax license AND a business account. It is not my intention to become rich at this, just to be able to sell my works to interested parties. Even the monthly fee would extract too large of a percentage of my profits to make it worthwhile, and I certainly would not want to lock up $1,500 with the bank to avoid a couple of hundred dollars in fees. As for the validity of my business, there are tens of thousands of people in my same situation with a combined net worth greater than the net worth of Wal-Mart (per Entrepreneur Magazine, 2012, can't remember the month.) There are artists, crafts people, musicians, summer carnival vendors, part time caterers and the list just goes on. Best to think before you post such a rash response. My greatest complaint is that these huge businesses, banks included, are always jack-booting the little fellow who is struggling to survive and make a few bucks. They say we are a nuisance to them. I say, why not charge the huge companies that eat up all their server space and take endless hours to support and cut the little guy a break!

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#5 Author of original report

My great local bank

AUTHOR: Andy - ()

For the person asking about my local bank, I left it out intentionally, not wanting to promote any particular business, but since you asked, it is First Keystone National bank (or First Keystone Community Bank.) Every service for personal and business banking is free, save for the purchase of checks. Fees are nominal for bounced checks, etc. and you can lock your account so you never get an overdraft. They also pay checks and debits in the order they are received, not by total amount, so you don't get massive overdraft charges. They have been this way forever and are on the New York Stock Exchange (and yes, I own some of their stock.) Their net worth, stock price and dividend have pretty much doubled every other year. I should have switched back to them long ago. Another person indicated that I should not be in business if I cannot afford the bank fees or to keep $1,500 in my account. I will respond to that person as well, but in a nutshell I am an artist and writer and make less than $10,000 a year, but need a business account. I do this more for pleasure than profit, and there are tens of thousands of others in my position - but the big banks and close minded people would rather see Walmart succeed than grandpa's fruit stand.

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#6 Consumer Comment


AUTHOR: Robert - ()

Monthly Service fees have been pretty much standard for at least the last couple of years, due to other banking regulations that were forced on banks.  So for you to go this long and be free of fees is pretty good.

As for the fee, what you are describing is fairly standard, and don't be shocked if your "local" bank down the street doesn't charge you very similar fees or has very similar requirements to avoid them.

Oh and when you do go to your local bank, I hope you come back and post the name here for everyone else who hates fees.

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#7 Consumer Comment

No more free rides

AUTHOR: coast - ()

It’s a lousy bank because after 25 years they are no longer offering you a free checking account. Well, aren’t you special?

If you are unable to maintain at least $1500 in your 25-year-old business account then maybe you are not a profitable customer. It’s time to pay for the service.

You do not have a valid complaint.

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