PNC Bank account full review

Discover the Benefits of a PNC Bank Account!

PNC Bank, a division of The PNC Financial Services Group, Inc., is a prominent financial services institution in the United States, boasting assets of $557 billion as of December 31, 2022.

With a coast-to-coast franchise and a strong presence in the country’s largest markets, PNC Bank operates 2,500 branches and 9,000 ATMs nationwide, making it easily accessible for customers. The bank also holds a significant position as one of the top lenders for small businesses.

When considering opening an account at PNC Bank, you’ll find a wide array of options and services to cater to your specific financial needs. Let’s explore the various account options in detail.

PNC Bank Account Options

PNC Bank offers a range of checking accounts, primarily under the Virtual Wallet brand, designed to address the diverse financial needs of customers. As a new Virtual Wallet account holder, you may be eligible for a sign-up bonus of up to $400.

All PNC Bank checking accounts provide two layers of overdraft protection and automatic transfer features for effortless saving.

Below is an overview of the different checking account options available at PNC Bank:

Virtual Wallet

Virtual Wallet is the basic account option offered by PNC Bank. It provides essential account features along with innovative online tools to help you manage your money effectively. This account is suitable for individuals seeking a combination of simplicity and useful digital tools.

To avoid the $7 monthly service charge, you need to meet one of the following criteria:

• $500 or more in qualifying monthly direct deposits
• $500 or more average monthly balance in Spend + Reserve
• Account holder is age 62 or older

Virtual Wallet does not require a minimum opening deposit and does not earn interest on balances. Moreover, as a PNC customer, you can access your money fee-free at nearly 60,000 ATMs across the country.

Virtual Wallet with Performance Spend

Virtual Wallet with Performance Spend is designed for individuals seeking both innovative online tools and rewards for maintaining a broader banking relationship. This account offers additional features compared to Virtual Wallet.

To avoid the $15 monthly service charge, you need to meet one of the following criteria:

• $2,000+ monthly direct deposits to the Spend account ($1,000+ total qualifying direct deposits for WorkPlace Banking or Military Banking customers)
• $2,000+ monthly balance in Spend + Reserve
• $10,000 in all consumer deposit accounts

This account does not require a minimum deposit to open, and you can earn interest on balances of $2,000 or more. It also provides 2 PNC fee reimbursements per statement cycle for non-PNC ATM transactions and up to $5 in fee reimbursement per statement period for other financial institutions’ ATM surcharge fees.

Virtual Wallet with Performance Select

Virtual Wallet with Performance Select is the premium account option offered by PNC Bank. It combines innovative online tools with premium account features.

To avoid the $25 monthly service charge, you need to meet one of the following criteria:

• $5,000+ monthly direct deposit balance to the Spend account
• $5,000+ monthly balance in Spend + Reserve
• $25,000 in all consumer and/or investment accounts

Similar to Virtual Wallet with Performance Spend, this account has no minimum deposit requirement and allows you to earn interest on balances of $2,000 or more. It also offers no fees for domestic or international non-PNC ATM transactions and provides up to $10 in fee reimbursement per statement period for other financial institution’s ATM surcharge fees.

Virtual Wallet Student

Virtual Wallet Student is a digital banking experience tailored for students, allowing them to keep their money organized during their academic years.

By opening a new Virtual Wallet Student account, you can enjoy a variety of benefits for up to six years, including:

• No monthly service charge
• One automatic courtesy refund of any Overdraft Item fees associated with the first overdraft event
• One incoming domestic or international wire transfer per statement period at no charge
• Automatic enrollment for online statements and documents

Additionally, Virtual Wallet Student account holders receive the same benefits as those included in the standard Virtual Wallet account.

Foundation Checking

Foundation Checking is designed for individuals who want a simple checking account without the worry of overdraft fees. This account allows you to focus on building towards your goals without unnecessary charges.

Key features of Foundation Checking include:

• Online account access
• PNC mobile app
• Check-writing capabilities
• PNC Bank Visa® Debit Card

As a Foundation Checking customer, the monthly service charge on your Standard Savings account is waived for the first 12 months. The minimum deposit required to open this account is $25, and the monthly service charge is $5, except for account holders who are 62 years old or older, in which case the fee is waived.

Requirements to Open a PNC Bank Account

PNC Bank allows online account opening for U.S. citizens aged 18 and above. Non-U.S. citizens are required to visit a local branch to open an account and must provide a valid U.S. address, along with two forms of identification.

How to Apply for a PNC Bank Account

To apply for your PNC Bank account, click the green button below for detailed instructions.

Written by

Claire Harrison