Chase vs PNC : Which Bank is Best?

Chase is best if you travel a lot. Chase has banking operations presence (4,800 branches & 16,000+ ATMs) in 48 states. 

PNC is best if you are looking for personalized & satisfactory services. PNC (684/1000) ranks second in JD Power 2021 National Banking Satisfaction Study.

PNC and Chase Bank offer a long list of similar banking products and services. 

Either of the banks will suit you if you have a different criterion.

Chase Bank Review

Chase Bank Review

Chase is the commercial banking business of JPMorgan Chase & Co – a top global financial services firm with $2.6 trillion in assets worldwide.

JPMorgan Chase & Co is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transactions processing and asset management.

Chase Bank’s services are accessible through 4,800+ branches and 16,000+ ATMs. 

JP Morgan Chase has operations in 60 countries worldwide. 

PNC Bank Review

PNC Bank Review

PNC Bank is a part of PNC Financial Services Group Inc – a 160-year-old diversified financial institution with $541 billion in assets. 

PNC is present in chunks of the Northeast, Southeast, and Midwest US locations with an extensive retail branch network. PNC provides retail banking, including residential mortgage services, corporate and institutional banking, and asset management.

You can access PNC services at their 2500+ branches and 9300+ ATM locations.  

Outside the US, PNC has four strategic international offices in Canada, Germany, UK and China. 

Chase vs PNC Bank Accounts

Chase and PNC have similar deposit accounts, APY and services. 

Both the bank offers –

  • Easy to use Checking Accounts
  • Low APY Savings Accounts
  • Certificates of Deposit (CDs)
  • Credit Cards
  • Debit Cards

The difference lies in personal banking services – 

PNC offers Personal Loans and Individual Line of Credit, surprisingly Chase doesn’t. 

You also have a Money Market account option at PNC that is missing at Chase.

PNC and Chase Bank accounts are FDIC insured. Access to banking services is through the internet, mobile apps, ATMs and physical branches.

Other similar services include –

  • Mortgages
  • Refinancing
  • Auto Loans
  • Business Banking
  • Retirement Accounts
  • Financial Advice

PNC Bank Accounts 

PNC offers a unique Virtual Wallet – a combination of savings and checking accounts with three variants.

  • Virtual Wallet – with a minimum of $500 deposit or $7 monthly service charge  
  • Virtual Wallet with Performance Spend – with a minimum $2,000 deposit or $15 monthly service charge
  • Virtual Wallet with Performance Select – with a minimum $5,000 deposit or $25 monthly service charge

You can also opt only for a regular checking account.   

Savings account options at PNC – 

#1. PNC Standard Savings 

  • $0 Minimum deposit to open online
  • Earn higher relationship rate when certain qualifications are met
  • Unlimited deposits and transfers into the account
  • Auto Savings tool that allows you to establish a recurring savings routine
  • Overdraft protection – link your Standard Savings account to your PNC checking account

#2. PNC “S” Savings 

  • No service charge for account holders under 18
  • $1 starting interest on balances 
  • Goal Setting tool for your child 

Other deposits accounts – 

  • Premier Money Market account
  • Certificate of Deposits
  • Student Banking 
  • Military Banking

Chase Bank Accounts

Up to $200 sign-up bonus sets Chase Bank apart from other large banks. 

Chase bank regularly holds promotions for new checking account sign-ups. You can get an additional $200 if you open a new checking account just now. 

Checking account variants at Chase – 

  • Chase Total Checking –  $5,000 average beginning day balance or $12 monthly charges
  • Chase Secure Banking – fixed $4.95 monthly fees with no overdraft fees
  • Chase Premier Plus Checking – $15,000 average beginning day balance or $25 monthly charges
  • Chase Sapphire Checking – No ATM Fees, wire transfer or stop payment fees

Saving Accounts at Chase Bank

#1. Chase Savings –

  • $300 balance at the beginning of each day or $5 monthly service fees
  • Online and mobile banking with account alerts
  • Access to 16,000 ATMs and more than 4,800 branches
  • FDIC insurance protection

#2. Chase Premier Savings –

  • Option to link with Chase Premier Plus Checking or Chase Sapphire Checking account.
  • $15,000 balance at the beginning of each day or $25 monthly service fees
  • Higher balances may earn a better interest rate

Other deposits accounts – 

  • Certificate of Deposits
  • Kids & Student Accounts

Chase vs PNC APY

PNC Bank offers a slightly better APY.

Account TypesChase Bank APYPNC Bank APY
Savings 0.01% to 0.02%0.01% to 0.03%
Checking 0.01%0.01% to 0.05%
Certificate of Deposits0.01% to 0.05%0.01% to 0.04%
Money MarketN.A.0.02% to 0.05%

Chase vs PNC Fees

Account TypesChase BankPNC Bank
Basic Savings account Waivable or Up to $5 monthly Waivable or Up to $4 monthly
Basic Checking account Waivable or Up to $12 monthlyWaivable or Up to $7 monthly
Non-Bank ATM in the US $2.50 per transaction$3 per transaction
Domestic Wire transfer$35 per transfer$25 per transfer
Check Return $12 per item$12 per item

Chase vs PNC : Loan & Other Products 

PNC scores over Chase Bank by offering personal loans and individual lines of credit. 

Whereas Chase extends loans by carving a sub-limit from your existing credit card limit which is again like cashing out your card limit.

Rest all the services are more or less similar in nature.

PNC’s other banking and services include – 

  • Credit Cards
  • Mortgage & Refinancing
  • Auto Loans
  • Personal Loans and Line of Credit
  • Investing and Wealth Management
  • Financial Advisory

Chase Bank’s other services include – 

  • Credit Cards
  • Auto Loans
  • Mortgage and home equity
  • Investing and Wealth management
  • Financial Advisory

Chase vs PNC : Digital Experience and Customer Service

JD Power National Banking Satisfaction Study

PNC ranks second (684) in J.D Power 2021 National Banking Satisfaction Study. 

As per the J.D. Power study “PNC performs highest in resolving customer problems and instilling overall brand trust”

Two notches higher than the Chase Bank.  

Customer service reviews for both the banks (taken from different websites) are tabled below – 

WebsiteChase Bank RatingsPNC Bank Ratings
Nerd Wallet3.54.0
Wallet Hub3.83.7
Consumer Affairs3.83.4
Trust Pilot1.41.3

We find Chase and PNC both have a clean design and are easy-to-use banking websites that offer a great user experience. 

You can fully explore, easily locate and compare products and access how-to videos and other support materials with ease. 

Mobile banking apps for both the banks are rated 4.4 on Google Play and 4.8 on the Apple store with numerous positive experience reviews.

Both PNC and Chase provide customer service lines and toll-free numbers where you can speak with the agent regarding grievances. You can reach out on Twitter or use their complaints form. 

PNC vs Chase: Pros and Cons

PNC Bank Pros – 

  • Better customer service than Chase Bank
  • Virtual Wallet account that combines savings and checking account
  • Money Market accounts
  • Personal Loans and Line of Credit
  • Comparatively better APY with lower fees and charges

PNC Bank Cons – 

  • Fewer branches and ATMs as compared to Chase
  • No sign-up offers

Chase Bank Pros –

  • Up to $200 sign-up bonus
  • Premier Banking experience
  • More number of branches, ATMs and a global presence

Cons with Chase Bank –

  • No money market account and personal loan offerings
  • 0.01% Low APY

When Chase is the right fit 

Chase Bank is a better option if you travel a lot, have online or offline overseas business operations that need banking services.  

If you are looking for a single financial institution to bank, and manage wealth corpus then Chase bank should be your choice.

When PNC is the right fit 

PNC’s lower fees and slightly better APY suit newly employed persons who need a hand-holding banking partner. 

PNC is for people who enjoy personalized banking services (PNC Choice banking) for growing financial needs. 

About Edward

Edward is the founder of MoneyChoice and has more than 10 years of experience in investment. Above all, he is passionate about sharing knowledge about money management and helping millions on their journey to a better financial future.

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