Why you can trust Forbes Advisor

Our editors are committed to bringing you unbiased ratings and information. Our editorial content is not influenced by advertisers. We use data-driven methodologies to evaluate financial products and companies, so all are measured equally. You can read more about our editorial guidelines and the banking methodology for the ratings below.

  • 182 Financial Institutions Reviewed
  • 65 Characteristics Considered
  • 11,830 Data Points Collected

Account Basics

Banking with PNC—as presented on its corporate website—is somewhat confusing, especially if you are looking for stand-alone accounts. The bank packages three accounts together in what it refers to as its Virtual Wallet. You also will be asked to enter your ZIP code on various pages to be sure you’re viewing the correct interest rates and offers.

There are different iterations of the Virtual Wallet available based on customer needs. Here’s a look at the various accounts available through PNC.

Checking

Two out of three accounts within PNC’s Virtual Wallet are checking accounts. PNC Virtual Wallet with Performance Spend (“Spend”) is the primary checking account and is a fairly standard checking account that does not earn interest. There’s no minimum deposit requirement to open a Spend account online. The account also comes with a free debit card and access to PNC’s fee-free ATM network.

Unlike some banks, PNC does charge a fee for out-of-network ATM use, although it waives the first two fee charges per statement cycle. You’ll also receive a $5 fee reimbursement per statement cycle for ATM fees charged by other financial institutions.

Another interesting feature included with Virtual Wallet is double overdraft protection. If you’re ever at risk of overdraft on your Spend account, PNC will automatically move funds over from your Reserve or Growth account.

PNC Virtual Wallet with Reserve (“Reserve”) is an interest-bearing checking account. It’s designed to help customers save for upcoming or unforeseen expenses. Although it’s an interest-bearing account, it only earns 0.01% APY on all balances over $1.

Versions of PNC’s Virtual Wallet are also available as options for student and military banking. The Student Virtual Wallet comes with extra benefits for up to six years, including no monthly service fees. The military version features reduced qualifying requirements for waived monthly fees.

In certain markets, the package is called Virtual Wallet Checking Pro, and can be configured with just the Spend account or with the Spend, Reserve and Growth accounts.

Savings

The third account that makes up PNC’s Virtual Wallet is the PNC Virtual Wallet with Growth (“Growth”). The savings account earns between 0.01% and 0.03% APY depending on your balance and whether you meet monthly requirements for relationship rates.

Eligible markets also have access to the PNC High Yield Savings℠. This online-only savings account features a more competitive rate currently at 4.65% APY. The account features no minimum opening deposit or ongoing balance and no monthly service charges.

PNC also offers a Standard Savings Account. Like most of the bank’s other deposit accounts, it features relatively low interest rates. There is a $25 minimum deposit required to open the  PNC Standard Savings Account.

The PNC ‘S’ is for Savings® is PNC’s savings account for children. A $25 minimum deposit is required to open an account. The savings account earns 0.01% on all balances. Geared toward younger kids, account holders have access to an interactive banking learning center, including tips from Sesame Street characters.

Money Market

The PNC Premiere Money Market Account, available in select markets. Rates range from 2.80% to 3.50% APY, depending on your balance and whether you qualify for relationship rates. The money market account features unlimited deposits and a PNC debit card.

CDs

PNC is also home to two types of certificates of deposit (CDs). PNC Fixed Rate Certificates of Deposit are available in a host of terms ranging from seven days to 10 years. A $1,000 minimum deposit is required to open a Fixed Rate CD. You can open CDs with terms between three months and 36 months online, while opening other length CDs requires visiting one of PNC’s local branches.

PNC’s rates vary depending on your ZIP code. The rates shown are for Fixed Rate CDs with opening deposits of between $1,000 and $24,999.99 in New York’s 10001 ZIP code.

CD Term APY Minimum Deposit
1 Month 0.02% $1,000
3 Months 0.02% $1,000
4 Months (Promotional) 5.05% $1,000
6 Months 0.02% $1,000
7 Months (Promotional) 4.25% $1,000
9 Months (Promotional) 0.05% $1,000
12 Months 0.02% $1,000
13 Months (Promotional) 2.00% $1,000
18 Months 0.02% $1,000
19 Months (Promotional) 1.25% $1,000
24 Months 0.02% $1,000
25 Months (Promotional) 1.50% $1,000
36 Months 0.02% $1,000
37 Months (Promotional) 1.75% $1,000
48 Months 0.02% $1,000
60 Months 0.02% $1,000
61 Months (Promotional) 2.00% $1,000
84 Months 0.02% $1,000
120 Months 0.02% $1,000

PNC Ready Access Certificates of Deposit also come with a fixed rate but offer more flexibility. You can pull funds from a Ready Access CD at any time after the first seven days from account opening. Ready Access CDs are only available in two terms—three months and 12 months. A $1,000 minimum deposit is required to open a Ready Access CD as well as a trip to a local PNC branch since these CDs aren’t available online.

None of PNC’s CDs are among those offering the best CD rates available.

Other Accounts and Services

Besides its personal deposit accounts, PNC Bank also offers the following financial products and services:

  • Credit cards
  • Mortgage loans
  • Mortgage refinancing
  • Home Equity Lines of Credit (HELOCs)
  • Auto loans
  • Personal loans and lines of credit
  • Student loans
  • Student loan refinancing
  • Retirement and investment accounts and services
  • Private banking
  • Business banking, credit cards, and lending
  • Commercial, corporate, and institutional banking and financial services

Distinguishing Features

Part of PNC’s Virtual Wallet is a service called Low Cash Mode. There are no non-sufficient funds fees and a maximum of one $36 overdraft fee per day with Low Cash Mode. PNC customers with Virtual Wallet will receive customized alerts any time their account is low.

You’ll also receive a minimum of 24 hours extra time to get your account balance back to at least $0 before being charged an overdraft fee. There’s a clock within PNC’s mobile app that shows you exactly how much time is left before you’re charged a fee.

Access on the Go

For on-the-go banking, there’s PNC’s mobile app, available on iOS and Android. Through the mobile app, PNC customers can:

  • Manage accounts
  • Deposit checks
  • Pay bills
  • Send and receive money via Zelle
  • Lock a PNC debit or credit card if it’s lost or stolen
  • Set travel notifications
  • Contact PNC customer support

There’s even a feature within the app to access select PNC ATMs without a card through a one-time access code.

Of course, you can also access your accounts and perform many of the same functions online through PNC’s website.

If you prefer banking in person, PNC has you covered. PNC operates approximately 2,300 local branches and roughly 18,000 ATMs across the U.S.

PNC customer support is available in person at local branches. You can also reach customer support via online chat or by phone at 1-888-762-2265 Monday through Friday from 7 a.m. to 10 p.m. ET and Saturday and Sunday from 8 a.m. to 5 p.m. ET. You can also tweet customer support at @PNCBank_Help.

How PNC Bank Stacks Up

Navigating PNC’s banking products online is confusing, especially with several versions of its Virtual Wallet available. It doesn’t help that some products are only available online or in select markets. Stand-alone bank accounts are available but require much digging to find information on how to open one.

If you live within the bank’s service areas and are looking for full-service banking, PNC is a solid choice. You won’t find competitive rates except with its online-only savings account, but it’s great for someone who prefers in-person banking or wants to keep all of their bank accounts housed under one roof.

Frequently Asked Questions (FAQs)

Is PNC Bank FDIC insured?

Yes, PNC Bank, National Association is FDIC insured (FDIC# 6384). All PNC Bank accounts are FDIC insured up to $250,000 per depositor, for each account ownership category, in the event of a bank failure.

Is PNC Bank secure?

Yes, PNC uses strong security measures—like the latest encryption technology, firewalls, security questions and two-step verifications—to keep customers’ personal and account information safe.

Is PNC Bank a good bank?

Yes, PNC is a solid choice for individuals looking for full-service banking who live within the bank’s service areas.

What is required to open a PNC account?

To open a bank account through PNC, you must be at least 18 years of age and have a valid driver’s license, state-issued ID, or military ID for identification purposes. You’ll also need a way to fund your account. Some accounts are available to open online, while others require visiting a local PNC branch.

How do I get a live person at PNC?

You can reach live customer support through PNC’s customer service line at 1-888-762-2265 (1-888-PNC-BANK) Monday through Friday from 7 a.m. to 10 p.m. ET and Saturday and Sunday from 8 a.m. to 5 p.m. ET.