PNC Bank rolled out a new banking product recently called Virtual Wallet and they’re giving a free $75 bonus when you open an account by July 4th, 2009 and receive a direct deposit of at least $400 by August 31st, 2009.
Virtual Wallet is really 3 accounts, they have a spend account which is a checking account that doesn’t yield any interest, a reserve account that yields 0.10% APY and a growth account which is a savings account that currently have a 2% APY for balances up to $25,000.
You need at least $25 to open the spend account but the others have no minimum opening deposits required. There’s no monthly balance requirements or monthly fees on any of the accounts. You’re allowed 3 free checks per month, which is sort of a bummer, and you can get ATM reimbursements if you have a $2,000 combined balance in your spend and reserve accounts.
You must keep your account open for at least 180 days or you’ll get hit with a $25 early closure fee.