Consumers want a bank with stability and repute, whether they are switching banks or are just starting out. PNC Bank is an excellent example. It has a lengthy and illustrious history, as well as multiple accredited accolades in its honor. It was named the Best Overall Bank for Students and one of the Best Private Banks in the last two years.
Requirements To Open a PNC Bank Account
Only US nationals over the age of 18 are eligible to open a PNC Bank account online. Other new consumers will have to go to their local branch. A legitimate address in the United States, as well as two kinds of identification, are required. It should be mentioned that only three types of identification are accepted by online applications:
- U.S. driver’s licenses
- State-issued IDs
- Military-issued IDs
The account approval will be subject to verifying this information.
How Can I Open a PNC Bank Account?
A PNC Bank account can be opened in a local branch, but the more efficient option is to fill out an application form online.
How Do I Set Up an Account With PNC Online?
To set up an account, new customers can follow these steps:
- Visit PNC Bank’s website
- Choose an account
- Enter the personal details required as outlined above.
PNC will gather an email address and a phone number in addition to the above indicated information for communication purposes.
PNC Bank’s Checking Accounts and Fee Structure
It’s worth noting that PNC Bank checking accounts are now designated as “Virtual Wallets.” This marks the bank’s transition to a digital-first strategy in which consumers may handle all of their money from a mobile device.
A $25 minimum deposit is needed for all checking accounts. Each of the accounts pays interest. There are no additional fees for using PNC-owned ATMs, although fees may apply when using ATMs outside of the PNC network.
Customers can select from three different checking accounts.
Each statement cycle, the standard Virtual Wallet with PNC Bank reimburses customers for two non-PNC ATM charges as well as up to $5 in surcharge fees charged by other ATMs. This account has a monthly cost of $7, which is waived if customers meet at least one of the following criteria:
- Monthly direct installments of at least $500
- A minimum monthly balance of $500 in PNC primary and secondary checking accounts
- Having reached the age of 62.
Virtual Wallet With Performance Spend
Each statement cycle, the Virtual Wallet with Performance Spend reimburses the first four non-PNC ATM charges and up to $10 for surcharges. The regular monthly price is $15, but it is waived if one of the following conditions is met:
- Monthly direct deposits of at least $2,000
- A minimum monthly balance of $2,000 in PNC checking accounts
- A minimum of $10,000 in all PNC deposit accounts.
Virtual Wallet With Performance Select
Non-PNC ATMs are not charged by the Virtual Wallet with Performance Select. It also provides up to $20 in refund for surcharges imposed by other banks. The typical monthly charge is $25. It can be waived if one of the following conditions is met:
- Monthly direct deposits of at least $5,000
- A minimum monthly balance of $5,000 in PNC checking accounts
- A minimum of $25,000 in all PNC consumer or investment accounts.
PNC Bank’s Savings Accounts and Fee Structure
PNC Bank offers a savings account that may be linked to one of its Virtual Wallet choices to provide an all-in-one money management solution. One of the benefits is Low Cash Mode, which delivers alarms and gives consumers more overdraft flexibility.
Customers can also choose between the Standard Savings Account and the Premiere Money Market Account in addition to this account.
Standard Savings Account
Customers can make six free withdrawals each month from their PNC Standard Savings Account, which has no minimum balance limitations. All ATM transactions at PNC are fee-free, and the account has an auto-save option. Monthly costs are $5, but they can be waived if one of the conditions below is met:
The average monthly balance exceeds $300.
Savings are linked to a PNC checking account, and $25 is set aside monthly for auto-saving.
The account holder is under the age of 18.
Premiere Money Market Account
The PNC Premiere Money Market Account has a minimum balance of $100. Fee-free ATM withdrawals, auto-save, and six free account withdrawals are the same as with the Standard Savings Account.
The main advantage of this account is that it offers higher interest rates based on the customer’s balance. Customers must contact PNC customer service for particular pricing. Customers can get their monthly fees waived by:
Maintaining a monthly balance of $5,000 or connecting to their PNC bank account.
Other PNC Bank Fees
PNC Bank has numerous hidden costs. Overdraft services, statements, and wire transfers are a few examples. Anyone thinking about opening an account should thoroughly read the terms before proceeding.
When all of the necessary materials are readily available, opening a PNC Bank account is an easy process. Customers should, however, keep a tight eye on their accounts to prevent incurring unnecessary costs with PNC. While it has a variety of accounts to suit most people, the hidden costs and ATM fees may make it worth considering other options before committing.