PNC Bank, based in Pittsburgh, operates as one of the largest regional banks with significant presence after acquiring BBVA USA. PNC's Virtual Wallet differentiates it through integrated spending, saving, and reserve accounts in one package.
PNC Virtual Wallet Overview
Instead of separate checking and savings accounts, Virtual Wallet combines three linked accounts:
- Spend: Primary checking for daily transactions
- Reserve: Short-term savings with easy access
- Growth: Long-term savings earning higher interest
This structure helps customers automatically manage cash flow between immediate needs and savings goals.
Virtual Wallet Tiers
Virtual Wallet
$7 monthly fee, waived with $500+ direct deposit or $500+ average balance. Basic tier includes the three-account structure and mobile banking.
Virtual Wallet with Performance Spend
$15 monthly fee, waived with $2,000+ direct deposit or $2,000+ average balance. Adds relationship rate discounts and ATM fee rebates.
Virtual Wallet with Performance Select
$25 monthly fee, waived with $5,000+ combined balance. Premium benefits include unlimited ATM fee rebates, relationship pricing, and priority service.
PNC High Yield Savings
Separate from Virtual Wallet, PNC's High Yield Savings offers competitive online rates without monthly fees. This positions PNC against online banks for savings while maintaining traditional branch services.
Money Management Tools
PNC excels at budgeting and financial planning tools:
- Calendar view showing bill due dates and scheduled transactions
- Low Cash Mode extending time to avoid overdrafts
- Automatic savings rules between accounts
- Spending analysis and categorization
- Goal-based savings tracking
Low Cash Mode is particularly valuable—it provides extra time to transfer funds when your balance drops, helping avoid overdraft fees.
PNC Mobile and Digital Banking
The PNC app includes:
- Zelle instant payments
- Mobile deposit
- Card controls and alerts
- Virtual Wallet dashboard
- Bill scheduling and reminders
PNC Fee Structure
Key fees:
- Overdraft: $36 per item (Low Cash Mode helps avoid)
- Non-PNC ATM: $3 per transaction (rebates at higher tiers)
- Wire transfers: $25-30 domestic
- Foreign transaction: 3%
Branch Network
PNC has strong presence in the Mid-Atlantic, Midwest, and Southeast following the BBVA acquisition. Major markets include Pittsburgh, Philadelphia, Cleveland, Washington D.C., and Texas cities.
Credit Card Integration
PNC offers credit cards that integrate with banking, though the selection is smaller than major issuers. For broader credit card options, consider pairing PNC banking with cards from Chase or Capital One.
Who Should Bank with PNC?
PNC fits customers who want structured money management, appreciate the Virtual Wallet approach, and live in PNC's geographic footprint. The High Yield Savings option provides competitive rates without switching to an online-only bank.
For simple traditional banking, major national banks may be more straightforward.
Explore accounts at PNC.com
