The Virtual Wallet has a $7 monthly maintenance fee. Not all products and services are offered in all locations. Products and rates can vary depending on where you live. Growth: This is a savings account for long-term savings, also with no minimum amount required for opening.You must keep at least $1 in your account for it to earn interest, but there's no minimum amount required to open one. It’s designed for short-term savings goals. Reserve: This is an interest-bearing checking account.The minimum amount to open an account is $25 but it drops to $0 if you open the account online. Spend: This is a regular checking account that might earn interest, depending on the Virtual Wallet account.PNC uses different lingo to brand its deposit accounts just as Starbucks uses different words for its beverage sizes. It includes three accounts that are packaged together. The Virtual Wallet is PNC’s basic account with a handful of features. PNC's online-only offerings in states where it doesn't have branches are actually better than those in the states where it does have brick-and-mortar locations.
Virtual wallets (savings and checking accounts rolled into one).PNC Bank boasts a wide swath of financial products and services, as you might expect from one of the largest financial institutions in the U.S. Those who want to bank with a long-standing, established institution.Anyone who prefers to step into a brick-and-mortar location and talk to a human because this bank has locations in 28 states and the District of Columbia.Those who want a one-stop shop for banking and financial services.Those who want to open both a savings and checking account with a single bank.PNC Bank could be a particularly strong fit for some individuals: Stand-alone checking and savings accounts are offered, but the Virtual Wallet seems to be the de facto type of account, according to PNC's website. Its Virtual Wallet offers three accounts rolled into one: “Spend" is a primary checking account, “Reserve” is an interest-earning checking account and “Growth" is a savings account. PNC’s unique ecosystem for its deposit accounts can be confusing. Harder to open a stand-alone account: PNC takes a slight departure from standard banking products in how it packages its deposit accounts.Wide range of products and services: PNC offers everything from student loans to auto loans to wealth management to life insurance in addition to deposit accounts.This might include being reimbursed for several specific ATM fees per statement cycle or receiving up to a certain amount in ATM fees back. ATM fee reimbursement: You can either have your non-network ATM fees reimbursed or have them dropped altogether depending on which type of deposit account you sign up for.You can earn either $50, $200, or $400 when you sync your account with a qualifying direct deposit, or other by meeting other requirements, depending on the type of account. Sign-up bonuses for deposit accounts: Sign-up bonuses are more common with credit cards and business accounts, but PNC offers one when you open a Virtual Wallet.Terms and conditions of this offer are subject to change without notice. Please consult your tax adviser regarding your specific situation.Īll loans are provided by PNC Bank, National Association, and are subject to credit approval and property appraisal. The value of the reward may be reported on the appropriate Internal Revenue Service (IRS) forms, and may be considered taxable income to you. Offer may be extended, modified, or discontinued at any time. The PNC WorkPlace Banking or PNC Military Banking checking account must remain open in order for you to receive the $300 reward, which will be credited to the eligible checking account within 90 days after conditions have been met and will be identified as "CREDITS MORTGAGE WKP MIL" on your monthly checking account statement. To qualify for the $300 mortgage account reward, at the time of mortgage funding, the PNC WorkPlace Banking or PNC Military Banking customer must have an eligible PNC WorkPlace Banking or PNC Military Banking Virtual Wallet with Performance Select, Virtual Wallet with Performance Spend, Virtual Wallet Checking Pro, Performance Select Checking account or Performance Checking account.
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