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Created 1 year ago
Updated 1 year ago
Business email & website verified.
My wife banks with PNC and wanted to set up a joint account with them to make transferring funds from her account easier. Previously, we had a joint account with a local credit union, but transferring money from PNC required her to make physical deposits. Despite my reservations from having an account with PNC about eight years ago, I agreed to go ahead with it for her convenience.
As a contractor, I often get paid by paper checks, so I’m used to driving to branches to deposit them. On my first visit to deposit a check, the teller offered to cash it without a fee, but I opted to deposit it instead. When I checked my account later at the job site, I found the deposit was on hold. I called customer service and was told the funds would be available after 10 PM that day. They mentioned I could have expedited the availability for a fee, but since I didn’t, I had to wait.
When 10 PM came, the funds were still not available. Around 2 AM, I received an email saying the funds were ready, but when I checked, only $200—a small fraction of my deposit—was accessible. Frustrated, I called customer service and spent over an hour on the phone, eventually being transferred to a rude supervisor who spoke to me in a condescending manner. After an unproductive conversation, I hung up.
I understand that new accounts often have waiting periods for fund availability, regardless of the bank. However, the fact that they were willing to cash my check immediately without a fee or release funds sooner for a fee suggests that the "need to verify funds" is simply a way to profit at customers' expense. The supervisor even confirmed that, even after the account matures, there will always be a business-day hold on deposits.
This experience highlighted poor communication, terrible customer service, and exploitative practices. I’m currently in the process of closing the account.