PNC Bank IRA Accounts Review

PNC Bank IRA review: Roth IRA, Traditional IRA, and Rollover IRA. PNC Bank IRA fees, rates, APY/APR, promotion offer for 2023. Is PNC Bank IRA good and safe way to invest?

PNC IRA Account

With a name like PNC, you have a fairly large, reputable organization who is not only a somewhat major player in the investments and banking market, you have a company who has been doing it for a while. Founded in the 1850s means that PNC has a strong history. Doing so in a Steel-City like Pittsburgh, PA means community ties for their roots, but a fairly large reach even for a regional bank. The PNC footprint extends throughout the Midwest, Atlantic, and Northeast states in full force while it is also making progress opening locations down around the Florida and Georgia area. Size may not be everything when it comes to banks, but having a borderline national reputation can help with branding, volume, and overall stability.

Corporation Review

PNC having roots as a small “hometown bank” means that you can walk into a branch in multiple locations within a city (usually never more than a few miles away). It also means you probably know someone who works there, understands their products, and can best advise you to not only work on your retirement planning and investments, but your overall financial situation.

Big Bank Resources, Small Bank Feel

PNC Investments as a whole isn’t just a discount brokerage. This can be viewed with both positives and negatives, but at the end of the day they are expanding both with the growth of their organizations’ reach, and with the growth of the products and services that they are able to recommend. Their investment side not only handles retirement planning, but also planning for education, investments, estates, and also several forms of insurance. They truly are a big time company with a small town feel.

Too Big?

The large corporation style, however, can be a curse as well as a blessing. Several current national reviews of the company may be mixed, but most tend to hover in the 2 to 3 star range (out of a 5 star scale). They seem lax when it comes to customer service itself, and while the individuals who work there are extremely caring, it seems to be a classic case that they are handcuffed with what they are allowed to do. Furthermore, while PNC has multiple numbers to call in at and contact, their bank roots rubs off in a negative way. It can be quite difficult to get a hold of someone right off of the bat, and while with IRAs you probably aren’t going to be day trading anytime soon (so how much difference can a few minutes make), who really wants to be charged trading fees when it feels like you were just charged for waiting on hold for 10 to 15 minutes just to get through in the first place?

PNC IRAs Products & Rates

Many will argue that the most important thing regarding your investment accounts is the overall product (IE – the rates!). After all, at the end of the day if you can come out ahead with your retirement planning, then does it really matter if you spent a few more minutes trying to secure them?

PNC offers a wide range of products: mutual funds, annuities, stocks, bonds, and even managed accounts and long term care / life insurance as products and vehicles to invest in.


Account Fees – An annual account fee for an IRA account can run $40.00, with a $95.00 account termination fee, depending on the specific type of account you choose to have with PNC. The online trades are set for Equity, ETF and Closed End funds at $10 per trade, which isn’t terrible but by no means is this a discount brokerage. No load and NTF Mutual Fund Trades are $35.00 per trade, (which may help to explain why they believe in Mutual Funds so much!)

Misc Fees – Statement Copies $5.00, Transfer & Ship Certificate $10.00, Domestic Wire (for IRA Accounts) $15.00, Trade Processing Fee $7.00, Physical Reorganization $40.00 per Certificate, Physical Transfer $30.00, Legal Transfer $80.00, Insufficient Funds $31.00. These are just a handful of the additional fees that PNC has. And, while they may not all apply (especially if you manage your money and accounts with an iron grip), they are certainly worth noting. If nothing else, they continue to remind you that PNC is first a foremost a bank and has banking roots in all of its divisions.

PNC IRA Review Conclusion

At the end of the day, PNC is what it is if you know the old expression. They are a bank with many physical locations. This may be a good way to gain a customer base and certainly one that allows them to always have a face in front of their customers, but while they may hope that this is good for cross selling and building clientele, it is also a sure fire way to rack up costs which they then seem to pass onto customers in the form of fees.

If you do want a company that you should feel comfortable with, that has caring members / advisors, and that will be around for the long haul, then PNC feels like the hometown bank who can get you on course and guide you towards your retirement goals. However, depending upon your comfort level with investments in general and with the products and services, there are definitely cheaper and more attractive options than PNC.

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