You can open a Virtual Wallet Student account at a PNC branch or online by following these steps.
- Go to the provider’s site and follow the steps to apply.
- From the provider page and select Checking.
- Under the Virtual Wallet Student heading, choose Apply now.
- Tell PNC whether you’re older or younger than 18 years of age. If you’re younger than 18, you’ll need a co-applicant.
- Fill out the student’s information and hit Next.
- Enter the co-applicant’s information and select Next.
- Both the student and co-applicant must review and agree to the terms and conditions.
- Create a PIN and hit Open account.
To open this account, you must meet the following criteria.
- At least 18 years old
- US citizen or resident alien
- Your child must be at least 14 years old and a high school or college student
Provide the following information when opening your account.
- Full name
- Date of birth
- Email address
- Physical address
- Phone number
- Social Security number
- Details from a government-issued ID
Here are the primary benefits associated with the Virtual Wallet Student Checking account from PNC.
- No monthly fee. There’s no fee for up to six years as long as you’re minimum 14 years old and remain enrolled in high school or college.
- Fee reimbursements. PNC waives your first overdraft fee and will reimburse two out-of-network ATM fees per month.
- Low Cash Mode. This feature helps you avoid overdraft charges by giving you 24 hours to bring your balance back to $0.
There are also a few drawbacks associated with PNC Virtual Wallet Student Checking that you should consider before opening an account.
- Limited locations. PNC has nearly 2,300 branches, but they’re only in 23 states.
- Converts to an adult account. After six years, the account will automatically convert into PNC’s standard Virtual Wallet account, which has a $7 monthly fee that you can only avoid if you keep at least $500 in your Spend and Reserve account or deposit at least $500 a month.
- Low APY. Although PNC Virtual Wallet Student Checking comes with two interest-bearing savings accounts, you’ll only earn 0.03% APY in each of them.
- Some fees. PNC charges a $25 fee if you close the account within 180 days of opening it and it charges $7.50 to replace your debit card if your kid loses it.
- Checks aren’t free. This account includes check-writing abilities, but checks aren’t free. A pack of 80 will cost you around $20.
PNC Virtual Wallet Student Checking account comes with a debit card you can use for free at any of the 3,600 ATMs in PNC’s network or any of the 55,000 ATMs in the nationwide Allpoint network. You can also complete ATM transactions at most PNC ATMs by using the PNC smartphone app instead of your debit card.
If you use your debit card at an ATM in the US, Canada, Puerto Rico or the US Virgin Islands that’s not operated by PNC or Allpoint, PNC imposes a $3 fee. PNC’s fee is $5 for using ATMs in other countries. However, PNC will reimburse the first two domestic or international ATM fees it charges in each statement period. It will also reimburse up to $5 in ATM surcharges imposed by other financial institutions each billing cycle.
Compare other student accounts by monthly fee, minimum opening deposit and ATMs.
There are several ways to move money into and out of your PNC Virtual Wallet Student Checking account.
- Branch deposits. Deposit cash or checks at PNC branches.
- ATM deposits. Deposit cash or checks at PNC ATMs.
- Incoming ACH transfers. Link an external bank account and deposit funds at any time.
- Incoming wire transfers. Your first incoming wire each month is free, but additional domestic and international wires cost $15 each.
- Mobile deposit. Use PNC’s mobile app and your smartphone’s camera to deposit checks.
- Branch withdrawals. Withdraw cash at any PNC branch.
- ATM withdrawals. Withdraw cash from any PNC or Allpoint ATM.
- Outgoing ACH transfers. Send funds to an external bank account from PNC’s app or website.
- Outgoing wire transfers. Outgoing domestic transfers are $30 each, and outgoing international transfers are $45.
- Check-writing. Write checks from this account, but you have to purchase them from PNC.
Aside from the PNC Virtual Wallet Student Checking account, PNC offers a standard Virtual Wallet account, which also comes with checking and savings capabilities but it offers up to a low 1.5% APY and you’ll pay $7 a month to maintain the account unless you meet certain balance or eligibility requirements.
There are three ways to contact PNC about your account.
- Visit a branch.
- Call 877-225-5762 weekdays from 7 a.m. to 10 p.m. ET and weekends from 8 a.m. to 5 p.m. ET.
- Live chat via PNC’s website weekdays from 7 a.m. to 10 p.m. ET and weekends from 8 a.m. to 5 p.m. ET.
Checking account ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — 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.