The variable interest rate you can earn on money parked in your reserve account can be a bump if you make a combination of five debit card purchases or credit card transactions, or if you make $5,000 in eligible direct deposits to your Spend account in a given month. You can even make your first deposit to the account using a credit card. Thus, you can open the account immediately instead of waiting for your first deposit. Whichever type of account best meets your financial goals, you need to know the steps you need to take to get started if you want to open an account with PNC Bank. This guide to opening a PNC bank account covers the following topics: If you`re not sure if a PNC checking account is best for you and you`re familiar with online banking, check out offers from other banks. There is a plethora of fintech startups, called challenger banks, that typically charge less than traditional banks with physical branches. One of the most important features of a checking account is the ease with which it is possible to get your money. As a PNC account holder, you have access to 18,000 ATMs. For off-grid fees, if you have a virtual wallet account, you will be reimbursed for the first two transactions at the ATM.
And you`ll be refunded up to $5 in ATM surcharges at the end of each billing period. After that, the fees come into play: $3 per ATM visit in the U.S. and $5 for international ATM transactions. There is also an overdraft fee of $36 per item, with a cap of four transactions per day. Virtual Wallet Student account holders will also receive one free transfer per billing period to their Spend account. When it comes to extras, you`ll get a $5 refund for off-grid fees. Unlike other virtual wallet products, there is no sign-up bonus. Aside from the fees you pay and the ease of access to your money, you need to consider these factors when choosing a checking account: The virtual wallet is a generic title for a combination of checking and savings accounts. At this level, the current account, called Spend, is a simple and interest-free account. The 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. You may find that a smaller local bank or credit union may offer an account that better suits your needs.
In addition to the standard check, PNC Bank also offers these virtual wallet checking accounts + savings accounts: PNCs Virtual Wallet Student has a handful of attractive features. You can earn a little interest in some accounts. There is no monthly maintenance fee, and you will be reimbursed for the first two off-grid ATM fees during a given monthly billing period. You will also receive a courtesy refund for fees the first time you exceed for a returned item. You can earn $50 when you open Virtual Wallet, $200 when you open Virtual Wallet Performance Spend, and $300 when you open Virtual Wallet Performance Select. You are only entitled to one premium amount. If you meet the spending requirements listed in the offer, the rewards will be automatically credited to your account. When you log in to your online banking account, you can visit your PNC Rewards Center. In the Rewards Center, you`ll see a list of offers available to you.
To waive the monthly maintenance fee, you`ll need to meet one of the following requirements: PNC locations are incredibly easy to find in these areas, and the low fees make the account a good choice. Still, the standard checking account struggles to compete with the low cost of online checking accounts. One of the easiest ways to access money from your checking account is to withdraw it from an ATM. By opting for PNC`s standard checking account, you can get a better return on your savings. PNC checking account customers can receive cash back from participating merchants with PNC Purchase Payback. Read your account details carefully to avoid surprise fees. In general, the higher the account level, the fewer fees you will have to pay. Unless these fees are waived, you can expect the following: With this interest-bearing checking account, bank customers can earn higher payouts and have a wider range of rewards available. To open a virtual account, you can apply online. If you want a standalone checking or savings account, you`ll need to call PNC and open an account over the phone. If you`re opening a bank account for the first time, you may want to consider opening a checking account, a savings account, or both.
Checking accounts are typically used for everyday purchases, while savings accounts earn interest and help you put money aside when you need it. PNC Bank has a number of virtual wallet account options that combine both verification and savings features. Credit unions are another option as long as you meet the membership requirements. Membership requirements are quite lenient with some credit unions. Bankrates list of best banks for checking accounts includes a few credit unions. You can also find high-yield checking accounts with APY of 1% and above at some banks. PNC also offers Virtual Wallet Student, an interest-free checking account with no balance requirement and no monthly service fee. The benefits of this account are valid for up to six years. In addition, fee waiver requirements are easier to meet than comparable accounts.
If you`re looking for a checking account, this review will tell you everything you need to know about PNC`s standard checking account and compare it to other options. Some PNC chequing accounts charge a fee if you use an ATM that is not affiliated with PNC Bank. Fees can range from $3 to $5 depending on the country where the ATM is located. .