PNC chequing accounts


PNC Bank is a subsidiary of Pittsburgh-based PNC Financial Services Group, one of the largest financial services institutions in the United States, with assets of $ 445 billion. Its retail branch network spans 21 states in the Mid-Atlantic, Southeast, and Midwest.

a group of people walking in front of a store: PNC agency

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PNC branch

With around 2,400 branches and 18,000 free ATMs, PNC Bank has a great physical presence. It also has a full suite of online and mobile banking tools, making it a good choice for chequing account customers who prefer traditional in-branch banking, online and mobile banking, or a combination of them. of them.


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PNC Bank’s main current account offerings include: Virtual Wallet, for customers who want basic account functionality and online tools; Virtual Wallet Performance Spend, for those who want a broader banking relationship with rewards; and Virtual Wallet Performance Select, which is the premium checking account with the highest level of rewards and benefits.

Account name APY Minimum deposit Monthly fee
Virtual wallet Nothing $ 0 online; $ 25 in branch $ 7
Virtual portfolio with performance spending 0.01% (on $ 2,000 or more) $ 0 online; $ 25 in branch $ 15
Virtual portfolio with Performance Select 0.01% (on $ 2,000 or more) 25 $ 25 $

Note: The APYs (Annual Percentage Return) shown are as of December 23, 2020.

PNC also offers Virtual Wallet Student, an interest-free checking account with no balance requirements and no monthly service fees. The benefits of this account are valid for up to six years.

Here are more details on PNC’s main current accounts.

    1. Virtual wallet
    2. Virtual portfolio with performance spending
    3. Virtual portfolio with Performance Select

Virtual wallet

Virtual Wallet is a generic security for a combination of verification and savings accounts. In this level, the current account, called Spend, is a basic non-interest bearing account. Reserve is a short term savings account and Growth is a long term savings account. Reserve and Growth accounts also serve as built-in overdraft protection.

The APY Reserve Account is 0.01% on balances of $ 1 and over; the standard APY on the growth account is 0.01 percent. The “relationship rates” are 0.03% APY on balances up to $ 2,499.99 and 0.05% APY on $ 2,500 and over. To be eligible for the connection rate, you must complete at least five PIN or point-of-sale transactions per month using your PNC Visa debit card or PNC credit card, and $ 2,000 in monthly direct deposits eligible.

PNC reimburses the fees for two non-PNC bank transactions per statement period. There is no minimum deposit if you open Virtual Wallet online. You must deposit $ 25 if you open it in a branch. The $ 7 monthly service charge is waived if you meet any of the following criteria:

  • Maintain an average monthly balance of at least $ 500 in your Expenses and Reserves savings account.
  • Have at least $ 500 per month in eligible direct deposits to your expense account, such as a paycheck.
  • You are 62 years of age or older.

Virtual portfolio with performance spending

The checking account with Virtual Wallet with Performance Spend bears interest and pays 0.01% APY on balances of $ 2,000 and over.

The reserve account pays 0.01% APY on balances greater than $ 1; the Growth account at this level has a standard APY of 0.01% and a relationship rate of 0.10% APY.

There is no minimum opening deposit if Performance Spend is opened online; it’s $ 25 if open at a branch. The $ 15 monthly fee is waived if you do any of the following:

  • Make direct deposits of $ 2,000 into your expense account each monthly statement period.
  • Maintain an average monthly balance of $ 2,000 in checks and / or in reserve.
  • Maintain a combined balance of $ 10,000 in PNC deposit accounts

There is more fee rebate with this account than there is with basic verification. The bank reimburses up to four non-PNC ATM transactions per statement period and up to $ 10 in ATM surcharges from other banks.

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Performance Spend also does not charge a fee for paper account statements or cashier’s checks, and there is no charge for re-depositing a returned item. There is no charge for requesting check images and copies of account details if you request through online banking. There is an $ 8 discount on certain check models.

Virtual portfolio with Performance Select

This is the premium account level with the most benefits. Performance Select includes an interest-bearing current account. You can have up to six additional PNC chequing or savings accounts linked with Performance Select at no monthly service charge.

The verification APY is 0.01% on balances of $ 2,000 and over. The reserve account also pays 0.01% APY; Growth account relationship rates are scaled, ranging from 0.10 to 0.35% APY.

There is no minimum opening deposit if the account is opened online; it’s $ 25 if open at a branch. The monthly fee of $ 25 is waived if you meet any of these criteria:

  • Monthly direct deposits of $ 5,000 per month to your expense account.
  • Combined average monthly balance of $ 5,000 in reserve account and up to six related PNC consumer checking accounts.
  • Maintain a combined average monthly balance of $ 25,000 in related PNC deposit and investment accounts.

With Performance Select, there is no charge to replace your Visa debit card and there is a refund of up to $ 20 per month at other bank ATM supplements.

There is no charge for paper statements with check images, domestic wire transfers, chargebacks, or redeposit of returned items. Basic PNC checks are free and there is a $ 12 discount on some check models.

PNC current account fees

Read your account details carefully to avoid surprise charges. As a general rule, the higher the level of the account, the less fees you have to pay. Unless those fees are waived, here’s what you can expect to pay:

  • Overdrafts, $ 36. If your account is overdrawn by $ 5 or less at the end of the day, the overdraft fee is refunded.
  • Stop payment, $ 33.
  • Paper statements, $ 2; with check images, $ 3
  • Cashier’s checks, $ 10
  • Off-grid ATM fee, $ 3; ATMs abroad, $ 5
  • Early account closure, $ 25 if the checking account is closed within 180 days of opening
  • Debit card cash advance fee, $ 3 at PNC ATM; $ 5 at non-PNC ATM
  • Debit card replacement, $ 7; expedited card delivery, $ 25
  • Non-PNC domestic bank ATM, $ 3; non-PNC ATMs outside the US, $ 5
  • International purchases and cash advances, 3% of the transaction amount
  • Bank transfers (national and international), $ 15 to $ 45
  • Counter checks, $ 1.50
  • Non-customer check cashing fees, 2% of the check amount ($ 2 minimum)
  • PNC Express Fund, 2% of the amount of the check greater than $ 100; $ 2 for each check of $ 25 to $ 100
  • Return of the item deposited or cashed, $ 12
  • Image and photocopy requests, $ 1 to $ 5
  • PNC Express Funds, which makes deposited money available immediately, 2% of the amount of the check greater than $ 100; $ 2 for every check from $ 25 to $ 100.

PNC current account offers

All PNC checking account customers get a PNC Bank Visa debit card and use thousands of ATMs at no additional cost. There is also a refund of some non-PNC ATM fees, free online and mobile banking, and higher interest rates on savings as you build up your balances. With the PNC Mobile app, you can deposit checks, perform cardless ATM transactions, find nearby ATMs, check your balances, set up account alerts and more.

Overdraft protection comes from Reserve and Growth savings accounts and there is no charge to transfer the money. PNC spending and budgeting tools help you track and manage your money. You can budget, schedule bill payments, receive alerts when your account is at risk of being overdrawn, set up automatic savings, and more.

PNC Current Account customers can earn money from participating merchants with PNC Purchase Payback.

PNC customers have access to Zelle, a payment platform that allows you to send or receive money from people you trust, no matter where they do their banking. You can also make tap-and-go payments using Apple Pay.

Promotions and bonuses on PNC checking accounts

You can earn $ 50 if you open Virtual Wallet, $ 200 if you open Virtual Wallet Performance Spend, and $ 300 if you open Virtual Wallet Performance Select. You are only eligible for one reward amount.

The new checking account must be opened online using the application link at or at a branch before June 30, 2020. An eligible direct deposit, defined as a recurring deposit of a paycheck, d A retirement benefit, Social Security or other regular monthly income, must be made within 60 days and your account must remain open.

The reward is credited to the account within 60-90 days after all conditions are met and appears on your monthly “Cash Trans Promotional Reward” account statement.

Alternatives to PNC chequing accounts

If you are not sure which PNC checking account is best for you and you are comfortable with online banking, check out the offers of other banks. There is a plethora of fintech startups, called competing banks, which generally charge less fees than traditional banks with physical branches.

Credit unions are another option, as long as you meet the membership requirements. Membership conditions are fairly lenient in some credit unions. The list of discount rates for best banks for checking accounts includes some credit unions. You can also find checking accounts with APYs of 1% and above at some banks.

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