PNC To Phase Out Free Checking In The Next Year

This might affect you…

CBS Pittsburgh

PITTSBURGH (KDKA) – Starting next year, PNC will do away with completely free checking, but says it will only affect a small percentage of customers.

It seems like a growing trend among larger banks.

Beginning June 2014, the options for keeping PNC’s current free checking account is to maintain a $500 average monthly balance or $500 in combined monthly direct deposits – or be 62 years of age or older.

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The bank says it’s investing in technology and the services that help customers bank when and where they want. And they’re communicating with customers about other ways to avoid checking fees.

During an era when traditional bank lobbies are smaller and internet banking is growing, banking customers had mixed reactions.

“You know, what are you going to do?” said John Burns of the North Side. “You can’t fight big business.”

“I happen to be a…

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