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PNC Virtual Wallet review

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Get the perks of a checking and savings account in one, though at unclear interest rates.’s rating: 3.3 / 5.0


The PNC Virtual Wallet offers the features of a checking account and savings account rolled into one. It’s interest-bearing, comes with ATM access and helps you track your spending through an app. But interest rates aren’t easy to nail down, and monthly fees could eat into your savings.



$7 per month



Minimum deposit to open


Fee$7 per month
To waive the fee• Be a student at a qualifying education institution
• Be 62 or older
• Maintain a $500 combined monthly balance across checking and savings
• Direct deposit at least $500 into your savings account monthly
Minimum deposit to open$25
Intro or bonus offer$50 to $300 signup bonus when you open and use your PNC Virtual Wallet by 9/30/19.
Interest compoundingDaily
Monthly transaction limit6
More Info

Expert review

Shannon Terrell

Review by

Shannon Terrell is a writer for who studied communications and English literature at the University of Toronto. On any given day, you can find her researching everything from equine financing and business loans to student debt refinancing and how to start a trust. She loves hot coffee, the smell of fresh books and discovering new ways to save her pennies.

Expert review

The PNC Virtual Wallet account offers the convenience and flexibility of checking and savings in one. The account comes with free ATM access, mobile banking and bonus reward points. But watch for unclear interest rates and a $7 monthly fee you could face if you don’t maintain a $500 balance.

Choose from four account options

    • Basic PNC Virtual Wallet. A checking and savings account with free access to 9,000 PNC ATMs for $7 a month (waivable if you meet certain requirements).
    • Virtual Wallet with Performance Spend. Earn interest on your two-in-one checking and savings account for $15 a month (waivable if you meet certain requirements).
    • Virtual Wallet with Performance Select. PNC’s highest interest rate, reimbursements for all ATM fees and free add-on accounts for $25 a month (waivable if you meet certain requirements).
    • Virtual Wallet Student. An interest-bearing combo account with no monthly fee, two ATM fee reimbursements per month and other perks.

What are the benefits of a Virtual Wallet account with PNC?

In addition to mobile banking, direct deposit and ATM access, you’ll get the following perks:

  • Checking and savings. Enjoy the best of both worlds with short- and long-term savings along with a checking account.
  • Cash bonus. PNC’s latest bonus promises to deposit $50, $200 or $300 into your new account if you complete the qualifications for the account option you select.
  • Free ATM access. Access your funds for free at more than 9,000 ATMs in PNC’s nationwide network.
  • Reward points. If you hold a PNC points Visa Card, your PNC Virtual Wallet account offers a 25% bonus on the base points you earn each billing cycle.
  • No minimum deposit online. Open your PNC Virtual Wallet online to avoid the $25 minimum required at a branch.

What should I look out for?

Prepare to pay a $3 fee each time you use an ATM outside of PNC’s network, along with the following drawbacks:

  • Unclear interest rates. PNC advertises a higher interest rate with increased qualifying purchases each month. But it doesn’t include specific rates on its site.
  • Monthly fee. You’ll pay $7 a month to maintain your basic PNC Virtual Wallet account unless:
    • You’re a student at a qualifying education institution.
    • You’re 62 or older.
    • You maintain a $500 combined monthly balance across checking and savings.
    • You direct deposit at least $500 into your savings account monthly.
  • Early closure fee. If you close your account within 180 days after opening it, you’ll pay a hefty $25 fee.

Review your savings options with other banks to find the strongest rates and benefits for your banking needs.

Compare with other checking accounts

Name Product Minimum deposit to open ATMs Out-of-network ATM fee
HSBC Premier Checking
Free to use at all ATMs in the US
Earn 2% cash back on qualifying direct deposits (up to $60 per month and $700 total during the first 12 months) with a new HSBC Premier Checking account. Offer ends March 29, 2020. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC.
TD Beyond Checking
1,900 ATMs across the country and Canada
A checking account that offers interest plus three ways to waive the monthly fee, two overdraft paybacks a year and no ATM fees with a $2,500 balance.
Axos Bank Rewards Checking
ATM fees reimbursed at any ATM nationwide
Earn up to 1.25% APY while enjoying a suite of digital tools for smarter money management.
HSBC Advance Checking
Surcharge-free HSBC ATMs nationally and internationally, plus up to four rebates a month for using non-HSBC ATMs in all US states except New York
Earn 2% cash back on qualifying direct deposits (up to $30 per month and $350 total during the first 12 months) with a new HSBC Advance Checking account. Offer ends March 29, 2020. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC.
TD Convenience Checking℠
1,900 ATMs across the country and Canada
Offering digital wallet compatibility, free Zelle transfers, TD rate discounts and no fees for students and young adults age 17 to 23. But the $15 monthly maintenance fee could chip at your funds.
Chase Total Checking
Access to 16,000 ATMs and nearly 4,900 branches nationwide
Get a $200 bonus when you open a new Chase Total Checking account and set up direct deposit within 60 days of opening your account. Chase's simplest checking account is easy to use and gives you access to 16,000 ATMs and nearly 4,900 branches. Available online nationwide except in Alaska, Hawaii and Puerto Rico.

Compare up to 4 providers

How do I open an account?

  1. Go to PNC Bank’s website and click Get Started.
  2. Enter your full name, Social Security number, date of birth, email address, residential address and employment information.
  3. Indicate the debit card PIN you’d like to use with your account or opt to receive your PIN by mail. Click Continue.
  4. Enter the bank account and routing number of the external account you’d like to use to fund your account. You must deposit at least $1 in your account to activate it.
  5. Your PNC Virtual Wallet debit card will arrive in the mail. In the meantime,access your funds by downloading PNC’s Virtual Wallet mobile app.


You must meet the following criteria to be eligible for a PNC Virtual Wallet account:

  • US citizen
  • At least 18 years old
  • US residential address
  • Social Security number
  • Valid bank account

Required information

Have the following information ready before you apply:

  • Primary home address
  • Valid email address and phone number
  • Social Security number
  • Driver’s license or other state-issued ID
  • Account and routing number of your funding bank account

How do I deposit or withdraw my money?

PNC offers five ways for you to access the money in your account:

  • Online deposit. Transfer funds electronically between your PNC account and an externally linked account.
  • Mobile check deposit. Use the PNC Virtual Wallet mobile app to snap and deposit a check into your account.
  • Direct deposit. Schedule automatic deposits from an external account.
  • ATM. Use your debit card at any of PNC’s 9,000 ATMs nationwide.
  • In person. Deposit or withdraw funds during business hours at a PNC bank branch.

How can I get in touch with customer service?

Get help in three ways:

  • Phone.Call 800-352-2255 weekdays from 7 a.m. to 10 p.m. ET or weekends from 8 a.m. to 5 p.m. ET.
  • Email. Complete a secure online form for an email reply from customer service.
  • Social media. Reach out on PNC’s Twitter for a response from the support team.

Frequently asked questions

Checking account ratings

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★★★★★ — Subpar

★★★★★ — Poor

We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.

Read the full methodology of how we rate checking accounts.

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