PNC Premiere Money Market Review: A Solid Savings Product for PNC Checking Customers
Review
Updated
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Money market accounts offer several key advantages, such as ATM access, and they can be superior to traditional savings accounts. The PNC Premiere Money Market account is designed specifically for the bank's checking account customers, who get higher relationship interest rates. Read our full review of the PNC Premiere Money Market account to see if it might be a good fit for you.
PNC Premiere Money Market
The PNC Premiere Money Market account has an excellent introductory interest rate and is a solid branch-based savings product for customers with checking accounts at PNC. However, it doesn't measure up to some of its online-based competitors, so it isn't right for everyone.
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
up to 3.80%²
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
|
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
Open Account for CIT Platinum Savings
On CIT's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
4.10% APY for balances of $5,000 or more
Rate info
4.10% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $100 to open account, $5,000+ for max APY
|
Earn a bonus of at least $225 after a one-time deposit of $25,000+.
Transfer a one-time deposit of $25,000-$49,999.99 for a bonus of $225. Transfer a one-time deposit of $50,000+ for a bonus of $300. Account must be opened with code PS2025 while this promotion lasts, and funded within 30 days. Bonus will be fulfilled within 60 days from the funding date. There is no period of time where the customer will be required to maintain the funds. Account must be open when bonus is credited. One bonus per account and primary customer. Bonus will be credited into the Platinum Savings Account that fulfills the funding requirement. Funding can be deposited all at once or incrementally.
|
Open Account for CIT Platinum Savings
On CIT's Secure Website. |
Open Account for American Express® High Yield Savings
On American Express's Secure Website.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
3.70%
Rate info
3.70% annual percentage yield as of April 17, 2025. Terms apply.
Min. to earn: $0
|
N/A
|
Open Account for American Express® High Yield Savings
On American Express's Secure Website. |
SoFi disclosure:
¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking#1.
² SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
³ We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
⁴ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.
Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
⁵ We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
⁶ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
⁷ Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the“30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.
| Account | APY | Minimum Deposit |
|---|---|---|
| PNC Premiere Money Market | Up to 4.00% | $0 |
The PNC Premiere Money Market account offers a promotional interest rate for the first 12 months for balances of $10,000 or more, and this is extremely competitive -- especially for a branch-based bank money market account. However, to earn the top rates on an ongoing basis, you'll need to also have a PNC Performance Select Checking account and over $100,000 in your account.
If you don't meet these requirements, the money market interest rates are extremely low, and even if you do, the rates don't quite measure up to online competition. Having said that, for high-balance money market accounts, the PNC Premiere Money Market account offers a solid combination of yield and brick-and-mortar banking convenience.
Like most financial products, the PNC Premiere Money Market account has advantages and drawbacks, and it's important to be aware of them before considering the account.
High introductory APY: The PNC Premiere Money Market account offers a promotional interest rate for the first 12 months for customers who maintain a minimum daily balance of $10,000 and have a PNC Bank consumer checking account. The rate can change over time, but it is competitive with the annual percentage yields (APYs) offered by online money market accounts.
Easy to avoid fees: The PNC Premiere Money Market account has a $12 monthly fee, but it's reasonably easy to avoid. The fee can be waived with either a $5,000 balance or by linking the account to certain types of PNC Bank checking accounts.
ATM and branch access: PNC Bank money market customers get a PNC Bank banking card that allows for free ATM access at about 60,000 PNC Bank ATMs. (Note that customers can't make debit card purchases from money market accounts.) But PNC Bank has about 2,300 U.S. branches, and is well-known for its top-notch convenience and customer service.
Low ongoing APY: While the introductory APY is competitive, the ongoing APYs paid by the account aren't great. The yield is decent for a branch-based bank if you have more than $100,000 in the account and a PNC Bank checking account, but if you don't, the APY isn't competitive.
High balance for decent APY: As mentioned, even if you have a checking account with PNC Bank, you'll need to maintain a high balance ($100,000 or more) to get a decent APY, and even that isn't competitive with what some online banks are offering, and with much lower balance requirements.
No check-writing ability: The PNC Premiere Money Market account is designed as a savings complement to the bank's checking accounts, and therefore doesn't offer check-writing abilities.
Convenience and accessibility are where the PNC Premiere Money Market account shines. There are several options available to access and deposit money.
The PNC Premiere Money Market account has unlimited deposits, which you can make via transfers from a linked PNC Bank checking account, through one of the bank's ATMs, or in person at any of its 2,300 branches.
Like most money market and savings accounts, the PNC Premiere Money Market account restricts withdrawals to six per month. However, the bank operates (or partners with) about 60,000 ATMs and has 2,300 branch locations throughout the country, so it's rather convenient to get your money if you need it. You can also transfer money to a linked PNC Bank checking account.
Keep Reading: How to Open a PNC Bank Account
The PNC Premiere Money Market account could be a good fit if you have enough money to take advantage of its introductory APR and you are (or are willing to become) a PNC Bank checking customer.
At Motley Fool Money, we evaluate money market accounts based on four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum balance requirements, and perks.
Our scores are weighted as:
Learn more about how Motley Fool Money rates bank accounts.
The interest rate on the PNC Premiere Money Market account depends on your account balance, how long it's been open, and whether you have a checking account relationship with PNC Bank. Generally speaking, the best rates go to customers who have high balances as well as a checking relationship, while lower-balance money market accounts don't pay competitive interest rates.
It depends. While PNC Bank's money market account has an excellent introductory interest rate, its ongoing interest rates are significantly lower than many competitors. However, the bank offers several promotional CD rates, some of which have interest rates significantly higher than the bank offers for its money market account, and with a significantly lower deposit requirement. Of course, the trade-off with CDs is that you won't have access to your money during the term, unless you pay a penalty.
The PNC Premiere Money Market account is designed to be paired with one of the bank's checking accounts, so it doesn't have check-writing capabilities (like some money market accounts do). However, it offers ATM access to money, and permits seamless transfers to and from a linked PNC Bank checking account.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page. APYs are subject to change at any time without notice.
