Unlock higher interest earnings with PNC Premiere Money Market accounts by understanding how to qualify for Relationship Rates. PNC Bank offers a tiered interest system, where you can earn more on your balances by meeting certain criteria linked to your PNC checking accounts. This guide will explain the requirements to achieve these enhanced rates and make the most of your savings.
To take advantage of the boosted Relationship Rates on a PNC Premiere Money Market account, the key is linking it to a qualifying PNC checking account. The specific checking account required depends on the level of Relationship Rate you aim for. For the Performance Checking Relationship Rate, you’ll need to link either a Performance Checking account or a Virtual Wallet® with Performance Spend. To access the highest tier, the Performance Select Checking Relationship Rate, link your Premiere Money Market to a Performance Select Checking account or a Virtual Wallet with Performance Select.
Beyond linking the correct checking account, you must also fulfill one of the following monthly activity requirements to maintain your Relationship Rate. PNC provides options to suit different banking habits:
Firstly, you can qualify by using your PNC Visa® Debit Card or a linked PNC consumer Visa Credit Card for point-of-sale transactions. Completing a combination of 5 or more PIN and/or signature point-of-sale transactions (excluding cash advances) posted during the previous calendar month to your linked checking account will meet this requirement.
Alternatively, you can qualify through direct deposits. For those linked to a Virtual Wallet with Performance Spend or Performance Checking, having $2,000 in qualifying direct deposits ($1,000 for WorkPlace or Military Banking customers) during the previous calendar month is sufficient. For customers with a Virtual Wallet with Performance Select or Performance Select Checking, the direct deposit requirement is $5,000 in qualifying direct deposits during the previous calendar month. It’s important to note that PNC defines a qualifying direct deposit as a recurring electronic deposit from an employer or an outside agency. Transfers between accounts or deposits made via other methods like branches, ATMs, online transfers, mobile devices, or mail are not considered qualifying direct deposits.
PNC assesses your eligibility for either the standard or Relationship Rate monthly. This determination is made on the first of each month based on whether you met the qualifying transaction or direct deposit requirements in the previous calendar month. This means consistent qualifying activity is needed to continuously benefit from the higher Relationship Rates.
Finally, keep in mind that changes to your linked checking account can impact your Relationship Rate eligibility. If your linked checking account is closed, changed to a different account type, or is no longer linked to your Premiere Money Market account, you may lose the Relationship Rate, or the rates may be adjusted to the prevailing rates at that time. Therefore, maintaining your linked checking account and meeting the monthly requirements are crucial for consistently earning the best Pnc Money Market Rates.
