Consumer complaint received 2015-05-02
Company: PNC Bank N.A.
State: DC
Product: Bank account or service
Sub-product: Checking account
Issue: Account opening, closing, or management

Complaint:
PNC recently informed me that they made a " business decision '' to close my accounts. I have numerous concerns related to the accounts which are slated for closure, with that said : PNC has determined to close my performance spend and virtual wallet spend accounts through no fault of my own, I am left with serious concerns in that the {$300.00} promotional offer which was offered to me in exchange for opening said accounts and meeting certain conditions will not be honored and I believe that PNC has elected to close my accounts with the specific intention to avoid paying out on the advertised promotional offer. I will add that the subject {$300.00} promotional offer extended to me had several conditions which were required for the account holder to qualify for the promotional payment including : 1. The checking account must be opened at the branch using the appropriate flyer ( attached ) between XX/XX/2015-XX/XX/2015 to qualify for the {$100.00}, {$200.00}, {$300.00} reward. A qualifying direct deposit must be received and 1 payment must be completed via PNC online bill pay within 60 days of account opening. 
2.The total amount of all qualifying direct deposits credited to your performance select or the spend account of your virtual wallet with performance select must be at least {$5000.00} to active the {$300.00} promotional payment I fulfilled all of the required obligations outlined above to meet the conditional requirements outlined by PNC under the terms and conditions to qualify for the {$300.00} promotional offer, curiously however PNC only credited my account with {$75.00} which is an amount below even the lowest promotional offer specified on the {$100.00}, {$200.00}, {$300.00} promotion. Upon which time I notified PNC of their error with respect to the promotional payment it was suggested I open an internal dispute which PNC quickly dismissed. After I reopened the internal dispute to collect the remaining {$220.00} in promotional offers which are rightfully owed to me, PNC then informed me that my account was downgraded and in the process of being closed which appears to be an action taken as direct retaliation for my instance that PNC honor the promotional agreement. Denial of full payment on the promotional offer is ill advised, unethical, fraudulent and entirely unacceptable behavior which will not be tolerated. 

PNC 's actions with respect to the aforementioned account closures & denial of promotional payment constitute fraud in the inducement, fraud in the factum, bait and switch and failure of specific performance related to the terms and conditions of the promotional offer which all parties expressly agreed to be bound by and was the basis for the bargain at the time of account opening. 

To allow me to complete all of my responsibilities with respect to the promotional offer and then arbitrarily determine to close the accounts to avoid payment is a procedural and substantive unconscionability on PNC 's part. Under common law an offer can not be revoked after it has been accepted. Furthermore in this instance performance remains and consideration exists so PNC has a duty and obligation to pay the full amount of the promotional offer. Moreover PNC 's failure to pay the full promotional offer for which I had fully qualified for and PNC 's refusal to state a valid reason for account closure constitutes bad faith as it would appear that the account was closed solely with the intention of depriving the account holder of the promotional payment. 

It is undisputed that a valid contract exists and PNC has a good faith obligation to honor the contract and to provide payment in full on the promotional offer.

Company response to consumer: Closed with monetary relief