Table Of Content
When Chase Bank Wins?
Chase has a fairly comprehensive banking product line to compete with conventional high street banks.
There are savings and checking accounts, home loans, auto loans, home equity options, and an impressive choice of credit card options.
Chase can be a better choice than PNC bank if:
You want a massive choice of credit card options
You want a welcome bonus
When PNC Bank Wins?
PNC has even more banking products. In addition to its PNC checking and saving accounts, you can access credit card options, home loans, mortgages, student loan refinancing and investment options.
PNC bank can be a better choice than Chase if:
You need a personal loan, line of credit or student loan refinancing
You want personal service
Chase Bank | PNC Bank | |
|---|---|---|
Savings Accounts | ||
Checking Accounts | ||
CDs | ||
Money Market Account | ||
Debit Card | ||
Credit Cards | ||
Personal Loans | ||
Mortgage | ||
Government Mortgage | ||
Business Loans | ||
Investing Capabilities |
Savings Account
On the surface, the Chase and PNC savings accounts are quite similar. Both have a $5 maintenance fee that can be waived with similar criteria. Both accounts also have auto save features.
However, PNC does allow customers to earn higher rates according to their account balance and whether they link their savings account to a qualified PNC account.
Overall, both banks offers low rates compared to national average.
Chase Bank | PNC bank | |
|---|---|---|
APY | 0.01% | 0.01% – 4.00% |
Fees | $5 per month
Can be waived if you carry $300 account balance at the start of the month, $25+ autosave or linking a Chase checking account
| $5 per month
can be waived if you have $300 average monthly balance, linked to a select checking account, $25+ auto savings transfer each month or be aged under 18
|
Minimum Deposit | $25 | $25 |
Checking Needed? | No | No |
Main Benefits |
|
|
Checking Account
Again, superficially, the Chase and PNC checking accounts appear similar. While the PNC monthly fee is lower at $7 compared to Chase’s $12, the waiver requirements are similar. However, Chase does have several checking account options, while PNC has just the one.
While Chase offers new customers a welcome bonus, PNC has added some nice features to its checking account. For example, you can select whether you want to pay or return an item if you have insufficient funds, and PNC allows you 24 hours to bring your account balance up to the required amount to avoid an overdrawn fee.
Chase Bank | PNC bank | |
|---|---|---|
APY | 0.01% | 0.01% – 0.03% |
Fees | $12
Can be waived if you maintain a $1,000 minimum daily balance, making direct deposits or Associated SnapDeposits of $500 or more per statement cycle, or holding $2,500 in combined deposit accounts with the same statement cycle date or having a Health Savings Account or investment account
| $7 per month
can be waived if you maintin $500+ direct deposit per month, $500+ monthly balance in savings or age 62+
|
Minimum Deposit | $0 | $0 |
Main Benefits |
|
|
CDs
This is an area where Chase has a clear edge. In addition to having no minimum deposit compared to PNC’s $1,000, Chase offers a bit better rates.
Chase Bank | PNC bank | |
|---|---|---|
Minimum Deposit | $1000 | $1 |
APY Range | 0.02% – 3.75% | 0.01% – 2.00% |
Mortgage Options
Chase has a variety of mortgage products including fixed rate, ARM loans, FHA, and Jumbo loans. The bank allows prequalification to help speed up your home purchase. You can also purchase discount points whether you’re purchasing a home or refinancing.
PNC has packages for home purchase and refinancing. These include fixed rate, adjustable rate, FHA loans, VA loans, and Jumbo loans. You can also access specialized loans for situations such as 80-10-10. You can apply online and lock in your rate and save time by electronically verifying your financial details.
Loan Options
Chase does not have conventional personal loans. While you can access auto loans to finance a new or used vehicle, there are no unsecured loans.
PNC has lines of credit, auto loans, and personal loans of up to $20,000 with a fixed rate and no prepayment penalties.
Credit Cards
Chase has a massive choice of 30+ credit card options. This includes 20+ Travel cards, 7 hotel cards, and 7 business cards. Chase has partnered with United, Southwest, Avios, Hyatt, Amazon, Disney and Starbucks, so you can tailor your card rewards to your preferred brands. Most of the cards have no annual fee, but there are some notable exceptions, such as the Sapphire Reserve. This card has an annual fee of $550, but offers 5x points on flights and 10x points on hotels and car rentals. The Chase Sapphire Preferred card has a $95 annual fee, but it offers 5x points on travel purchases and 25% more value when redeeming for airfare, hotels, car rentals, and cruises through Chase.
Chase also offers some intriguing cards, such as the Chase Freedom Flex. Each quarter you activate this card, you can earn 5% cash back on up to $1,500 in combined purchases on selected categories each quarter and 5% cash back on travel purchased through Chase Ultimate Rewards®. Also, you can earn 3% cash back on dining at restaurants (including takeout and eligible delivery services), drugstore purchases , and 1% on all other purchases. Chase also offers a Freedom Unlimited card, which offers a additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year)- worth up to $300 cash back, as well as 5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases and 1.5% cash back on all purchases.
PNC has a decent choice of credit cards and currently, you can receive a $100 or 50,000 point bonus points if you sign up for a qualified card.
One of the most popular PNC cards is the Cash Rewards Visa that has a tiered reward structure offering up to 4% cash back. There is also the Core card that offers 0% on purchases and balance transfers for the first 15 billing cycles.
There is even a Secured credit card to help those with poor or fair credit build their credit score. You can open your account with a refundable security deposit of $300 to $2,500 to use your new card and have payment activity reported to the credit bureaus.
Customer Service
Chase’s customer service system is quite comprehensive. In addition to an indepth help website page, there are customer service lines, Twitter and Facebook support 7 am to 11 pm ET on weekdays and 10 am to 7 pm ET on the weekends, or you can schedule a meeting with an agent in your local branch. Chase even has dedicated lines for military personnel and veterans whether they are here or overseas.
PNC also has a comprehensive customer service section on its website, with FAQs, how to videos, and product help. If you want to speak to an agent, there are toll free numbers that are typically available 7 am to 10 pm on weekdays and 8 am to 5 pm on the weekends.
Unfortunately, the levels of service are not confirmed by consumer ratings. Chase has a poor rating of 1.3 out of 5 on Trustpilot, while PNC has a bad 1.5 out of 5 rating.
Online/Digital Experience
Both Chase and PNC have an app for iOS and Android devices. Chase’s app has similar ratings with 4.8/5 on the Apple Store and 4.4 out of 5 on Google Play. The PNC Bank app is rated 4.8/5 on Apple and 4.3/5 on Google respectively.
Both sites have a clean design and are easy to use that offering a great user experience. You can fully explore and compare products and access how to videos and other support materials.
Which Bank is The Winner?
Chase has some great features including a massive selection of credit card options and better CD rates. However, the waiver requirements for Chase and PNC are similar. Both banks also offer some great mortgage packages. PNC also has some innovative credit card options, and you can also access personal loans.
So, which bank is better will depend on your needs.
|
|  | |
|---|---|---|---|
APY Savings
The annual percentage yield (APY) is a percentage that represents the amount of money or interest earned on your savings account over the course of a year. The APY factored in compound interest. A savings calculator can help you quickly determine how much you'll earn with a given APY.
| 0.01% | 0.01% – 4.00%
| Up to 5.02%
|
Checking Fee
The monthly fee on checking account
| $12
Can be waived if you maintain a $1,000 minimum daily balance, making direct deposits or Associated SnapDeposits of $500 or more per statement cycle, or holding $2,500 in combined deposit accounts with the same statement cycle date or having a Health Savings Account or investment account
| $7 per month
can be waived if you maintin $500+ direct deposit per month, $500+ monthly balance in savings or age 62+
| Compare Banking |
Mobile App Rating | 4.8/5 on iOS 4.3/5 on Android | 4.8/5 on iOS 4.1/5 on Android | Various Banks
|
FAQs
What promotion does Chase offer?
As of March 2023, new Chase total checking customers can currently qualify for a $200 bonus. You’ll need to open a Chase Total Checking account and set up at least one direct deposit to receive your bonus. Chase also offers $100 if you set up a new Chase Secure Banking account.
All of these promotional offers do have qualification criteria, so it is important to check the small print, but these products can be a great way to get your hands on some free cash.
What promotion does PNC Bank offer?
PNC Virtual Wallet offers a promotion based on direct deposit you make to the new account. Learn more about the best new account bonus promotions.
Does PNC offer a free checking account?
PNC checking accounts have a monthly maintenance cost, but if you maintain a minimum balance in your linked savings account or receive a minimum amount in direct deposits each month, you may be eligible to have the price waived.
These minimums are $500 each for the fundamental Spend checking account, but they are higher for the Performance checking accounts.
Is Chase a good bank for teens?
Chase is actually a great option for kids and teens. There are several checking account options including the Chase First Bank account which is designed for kids aged 6 to 17, with no fees and parental controls. Parents can set up recurring allowance and even assign chores, so children can start learning more about financial responsibilities and managing money.
Under 18s can also enjoy a Chase savings account with no fees.
Is Chase worth it if I have bad credit?
Although Chase does not have any specific bad credit products, it could be a good choice if you want to work on your credit score. The bank has a basic checking account that has minimal frills, so you can concentrate on establishing good financial habits.
The bank also offers the Slate Edge credit card that has an automatic review to increase your credit limit if you pay on time and spend $500+ in your first six months. There is the potential to lower your rate by 2% each year. So, even if you qualify for a high rate initially, due to your current credit score, you can decrease your rate and work on your credit score with responsible card use.
How's PNC physical coverage?
Although there are reports of PNC closing branches across the USA to increase focus on digital services, the bank does still have almost 3,000 locations across 27 states. The bank also has an ATM network with almost 10,000 machines.
Can I open a PNC checking account online?
Yes, it is possible to open up a PNC Wallet checking account without visiting a branch. There is an online application form that will guide you through the process. After you submit your application, the PNC team will review and contact you with their approval decision.
Is PNC a good bank for teens?
PNC has a fantastic savings account for minors. You can open the account with just $25, but there are no account fees if the account holder is under 18. There is also a learning center with “jars” to help your teens learn about finances. They can add funds into “spending” “saving” or “sharing” jars. This allows kids to see what money is available to use.
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Chase vs TD Bank
Because both Chase and TD Bank provide a comprehensive range of products, we'll need to summarize the benefits and drawbacks to determine which bank is superior.
Chase offers some novel features, including the possibility of comparable CD rates without the TD Bank's minimum deposit. However, there is little to distinguish the checking accounts, as TD Bank's savings rate is twice that of Chase.
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Chase vs Capital One
Chase and Capital One both have banking product lines that compete with traditional high street banks.
Capital One also has a competitive advantage in terms of checking accounts. The Capital One checking account is not only fee-free, but you can also earn interest on your account balance. Chase's checking account does not pay interest, and you must meet certain requirements to have the $12 monthly fee waived.
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Chase vs Discover
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Read Full Comparison: Discover vs Chase: Which Bank Account Suits You Best?
PNC Bank vs Wells Fargo
The Wells Fargo service is even more extensive. Checking accounts, various savings accounts, mortgages, loans, and investment options such as IRAs, 401ks, and wealth management solutions are all available.
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