PNC Bank has an extensive history dating back to 1852. Over the last 170 years, this bank has grown to service over 9 million personal and small business customers and become the seventh largest U.S commercial bank.
Today, the bank has over $334 billion in assets, with over 2,000 branches across the Midwest, Southeast, and Mid-Atlantic and a network of approximately 18,000 ATMs. In 2021, PNC acquired BBVA USA, which provided a more national footprint and greater coverage on the western side of the country.
PNC is a full-service bank offering various personal, commercial, and business banking services and products. While PNC does have a decent reputation, many accounts have a maintenance fee, which can be tricky to avoid. This has led to some complaints from previous and current customers.
PNC bank can be a good choice if:
- You’re looking for one stop shop for your finance
- You may need a mortgage/personal loan/home equity loan
- You're looking for long term CDs
- Large Variety of Products and Services
- ATM and Local Branch Network
- ATM Fee Reimbursement
- Strong Online Platform
- No High Yield Savings
- Difficult to Open a Stand Alone Account
- Tricky Waiver Criteria
- Accounts Not Automatically Linked
Can I open a PNC checking account online?
The answer is that you can open a PNC Wallet checking account without going to a bank. You can start the application process by filling out an online form. The PNC team will analyze your application when you submit it and get in touch with you with their approval decision.
Does PNC offer a free checking account?
PNC checking accounts have a monthly maintenance cost, but if you maintain a minimum balance in your linked savings account or receive a minimum amount in direct deposits each month, you may be eligible to have the price waived. These minimums are $500 each for the fundamental Spend checking account, but they are higher for the Performance checking accounts.
Can you close PNC bank account over the phone/online? 50
PNC does make it straightforward and simple to close your account if you decide that it is no longer the best fit for your finances.
The easiest way to close an account is online. You can request an account close through the website chat system. Alternatively, you can call the customer service line and the PNC team member will guide you through the closure process. Finally, you can call into your local branch and the branch staff can affect the closure for you.
Can you buy/invest in gold products via PNC ?
PNC does have an investment platform that allows you to buy stocks, shares and bonds. This means that it is possible to purchase gold stocks to boost your investment portfolio.
The bank has several brokerage account options and you can open one in your local branch or over the phone. The PNC team will go through the applicable charges and fees associated with investing in gold stocks.
PNC Bank Review
Money Market Account
Pros And Cons
Of course, no financial institution is perfect and PNC is no exception. There are both pros and cons that will need to be considered before you make a decision about opening an account.
Large Variety of Products and Services
ATM and Local Branch Network
Difficult to Open a Stand Alone Account
Accounts Not Automatically Linked
ATM Fee Reimbursement
Costly Overdraft Fees
Strong Online Platform
Limited States For High Yield Savings
In addition to basic deposit accounts, PNC Bank has a wide selection of products and services from student accounts and student loans to insurance, wealth management and investment options.
This means that you can switch to PNC without worrying about any gaps for your day to day banking.
PNC Bank has close to 2,600 branches and approximately 18,000 ATMs within its network.
This means that even if you do most of your banking online, you have the reassurance of it being relatively easy to find a physical location if you need it.
if you'd like to make the most of your new bank account, PNC does offer some sign-up bonuses for its deposit accounts. This will depend on the type of account and current offers.
Depending on the account you open, you can get ATM fee reimbursement or fees may be waived completely. The reimbursement tends to be set for a specific amount per statement cycle.
Unlike many banks with a solid physical presence, PNC Bank has developed a strong online platform. You can not only manage your accounts online, but some accounts are incentivized if you open them online.
While most accounts have criteria to have your monthly maintenance fees waived, depending on the account, they can be tricky to meet.
As we mentioned earlier, PNC checking accounts are tied into the Virtual Wallet packages. This can make it difficult to open a basic stand-alone checking account.
You will need to take a little time to read through all the Virtual Wallet details to decide if this is a good choice for you or spend some time on the phone trying to open a basic account.
PNC Bank does offer relationship rates, but your accounts won’t link automatically. You’ll need to go into your dashboard and request a link.
While the fee amounts do vary depending on the type of account you hold, many are above average. This makes it crucial that you read the fine print to ensure that you are familiar with the possible charges before opening your account.
The PNC High Yield savings account is not available everywhere to all customers.
PNC Customer Service
You can access a PNC Bank customer support team member at local branches or by phone or online chat. The lines are open to speaking to a representative from 7 am to 10 pm ET Monday through Friday, and 8 am to 5 pm ET on the weekend. You can also tweet the customer service team.
According to the J.D. Power 2023 U.S. retail banking satisfaction study, PNC bank gets very high customer satisfaction in Pennsylvania, NY Tri-state, North Central, and Mid-Atlantic, about average ratings in Illinois, Florida, and lower than average in South Central.
However, for most customer support issues, the app will be sufficient. The PNC Bank app is available on iOS and Android, with high ratings for both platforms. The apps allow you to manage your accounts, pay bills, deposit checks and contact the support team. Using a one-time access code, you can even use the app to access select ATMs without your card.
App Rating (iOS)
App Rating (Android)
BBB Rating (A-F)
7 am to 10 pm ET
PNC Bank Savings Account
PNC Bank Savings Account
PNC has a number of savings account offerings. These include:
- Standard Savings: As with many large U.S Banks, this account has a relatively low rate, but there is no minimum deposit when you open the account online. (If you open in branch, you need a $0 minimum initial deposit). The account has a monthly service fee, but this can be waived if you’re under 18, link the account to a select PNC checking account, set up an automatic transfer of $25+ per month or maintain an average monthly balance of $300 or more.
- High Yield Savings: This account is only open to eligible customers, so it is not promoted on the main PNC website. It is an online only savings account with a competitive rate and no minimum opening deposit requirements. The account has no monthly service charges.
- Premiere Money Market: PNC has a Premiere Money Market account that has a tiered rate structure depending on your balance and if you qualify for relationship rates. The account allows unlimited deposits and account holders are supplied with a debit card.
- Children’s Savings: PNC also has a savings account geared towards younger children. They can earn interest and access an interactive learning center to teach them about money and banking, with cute Sesame Street characters.
Due to the low rates, PNC is not included in our top savings account list for 2023.
PNC Bank CDs
PNC Bank CDs
PNC Bank CDs
The PNC Bank Fixed Rate CDs have a term of one month to 10 years, with a minimum deposit of $1,000. However, PNC frequently has promotional fixed-rate CDs with a set rate that offers a higher interest rate, as you can see in the following table.
It is possible to withdraw your funds early from a fixed-rate CD, but there are some early withdrawal penalties. The early withdrawal penalty varies from the full amount of interest you would have earned over the full CD term to six months interest depending on how long you have had the CD and the remaining term.
7 Months (Featured)
0.01% – 0.03%
13 Months (Featured)
0.01% – 2.00%
19 Months (Featured)
0.01% – 1.25%
0.01% – 0.03%
25 Months (Featured)
0.01% – 1.50%
0.01% – 0.03%
37 Months (Featured)
0.01% – 1.75%
0.01% – 0.03%
61 Months (Featured)
0.01% – 2.00%
If you are not sure about tying up your cash, the PNC Bank Ready Access CD could be a good option. There is only a choice of two standard terms; three months and one year.
However, you only need to commit for seven days. After the seven days, if you experience a financial need, you can access your funds.
PNC Bank Checking Account
PNC Bank Checking Account
The main PNC Bank Checking account offering is its Virtual Wallet, which is one of the best bank accounts to open if you are looking for a virtual account.
Similar to products such as Ally online checking or SoFi bank, this is actually a package of accounts that are designed to work together to make your banking simple.
- Spend: This is the PNC Bank regular checking account, which could be interest earning depending on your Virtual Wallet package. The minimum to open this account is $25, but this minimum is waived if you open the account online.
- Reserve: This is an interest-bearing checking account that requires at least $1 in the account to earn interest. It is designed to help you with short-term savings goals, but you can still access the funds as you need them.
- Growth: This is for your longer-term savings, but there are no minimums to open this account.
The Virtual Wallet has a monthly maintenance fee of $7, but this can be waived in a number of ways including:
- Maintaining a $500 combined monthly average balance across your Spend and Reserve accounts.
- Making $500 or more direct deposits to the Spend account per month
- If you’re aged 62 or older.
This account package provides up to $5 in reimbursements for ATM surcharges per statement period if you use non-PNC bank machines.
This package has the same opening requirements as the basic Virtual Wallet, but a $15 monthly maintenance fee applies unless you have an average monthly balance of $2,000, have $2,000+ direct deposited to your spend account or have $10,000+ average monthly balance combined across all your PNC consumer accounts.
The Virtual Wallet with Performance Spend not only provides access to higher rates on your funds, but you can get up to $10 in reimbursements for ATM surcharges per statement period.
This package has a higher service fee of $25, and the requirements to waive this charge are also higher.
However, you can enjoy an interest bump on your Reserve account balance and receive up to $20 in out-of-network fees if you use a non-PNC ATM each month.
PNC Bank also offers a Virtual Wallet Student package that offers some nice perks including one free wire transfer per statement period and no monthly maintenance fee.
PNC Lending Products: Full Package
PNC has a full complement of banking products including lending products. These include:
PNC has a great selection of credit card options. One of the most popular is its Cash Rewards Visa, which has tiered rewards for up to 4% cash back on purchases. The PNC Core credit card is better suited for balance transfers as it has a 0% APR intro rate for 12 billing cycles.
The PNC Core® Visa® Credit Card offers savings through low rates. Benefit from an introductory 0% APR on purchases and balance transfers for the first 15 billing cycles.
Another card worth mentioning is the PNC points® Visa® Credit Card ,where you can earn 4 points for every $1 in purchases and redeem with rewards including cash, travel and more
However, even if you have less than ideal-credit, you still have a PNC credit card option. The PNC Secured card provides a credit limit according to your deposit of up to $2,500. Your payment activities are reported to all the credit bureaus to help you to rebuild your score.
PNC offers home loans for purchasing a property or refinancing your home. These include fixed rate, variable rate, FHA and VA loans along with jumbo loans. PNC also offers specialized loans for scenarios such as 80-10-10.
However, what makes PNC quite unique is that you can apply online and lock in your rate. You can also use electronic verification to save time during the application process.
PNC has a variety of loan options, including personal loans, auto loans, and lines of credit. The loans are fixed rate and have no prepayment penalties, with a maximum of $20,000 for personal loans.
The lines of credit have a variable rate but offer the potential to borrow up to $25,000.
How to Open PNC Bank Account?
As we touched on above, you can open most accounts with PNC Bank via its website. When you visit the official site, you’ll see information for most of its products and services. You can then click on the “Learn More and Apply” button.
You’ll need to confirm your zip code and then you’ll be redirected to a product page. Once you’ve read through the details and are happy to proceed, click the “Apply” button.
From this point, the process is fairly standard. You’ll need to complete an application form with your personal details including your full name, address, contact details and Social Security Number. If you have already applied for a bank account online with another bank, this process should feel quite familiar.
At the end of the application form, when you click submit, PNC will evaluate your application and provide you with an approval decision. This is usually almost immediately, but in some cases, you may need to wait a day or two.
Conclusion: Does PNC Bank Worth It?
The PNC Bank product selection can be confusing, particularly when looking at checking accounts and the Virtual Wallet. Additionally, the confusion can be heightened since some products are only available in select markets. It is possible to open a stand-alone account, but you need to delve deeper into the website or speak to a branch representative or phone representative.
PNC Bank’s rates are competitive, but if you’re looking to open a savings account, there are many online-only banks that offer better rates. However, you will need to forgo the reassurance of accessing a local branch.
PNC offers Up to $400 for new account, based on deposits they receive in the first 60 days. Open a base Virtual Wallet account and receive $500/$2,000/$5,000 or more in monthly direct deposits within 60 days to earn a $50/$200/$400 bonus. The offer is expired on N/A
When it comes to credit cards, the bank offers $100 or $50,000 bonus points on selected credit cards. However, to qualify for the bonus, you need to apply through the link on the PNC product page and meet the eligibility criteria.
PNC has been operating for over 150 years, so it has a long track record of navigating tough economic times. During the 2007/2008 financial crisis, PNC did receive $7.6 billion in federal bailout funds. However, by 2010, the bank had repaid these funds.
Additionally, the bank is FDIC insured, so even if a recession hits and the bank starts to struggle, customer deposits of up to $250,000 are insured.
PNC has partnered with Coinbase Global, which is a cryptocurrency exchange platform to make it easier for its customers to buy, sell and store crypto coins.
You’ll need to phone the PNC helpline or visit your local branch to find out the fees and charges, and whether you need to upgrade your investment account to be able to invest in crypto.
PNC offers a good balance of products with convenient access that is ideal for millennials. Unlike many millennial friendly banks, PNC has a branch network. So, while you have the convenience of online access and app account management, you can also call into your local branch if you have a query you’re struggling to resolve.
The Virtual Wallet platform is a great option for millennials, as you can link your savings and checking accounts for maximum functionality.
APY Savings The annual percentage yield (APY) is a percentage that represents the amount of money or interest earned on your savings account over the course of a year. The APY factored in compound interest. A savings calculator can help you quickly determine how much you'll earn with a given APY.
0.01% – 0.02%
Checking Account Fee The monthly fee on checking account
$12 Can be waived if you maintain a $1,000 minimum daily balance, making direct deposits or Associated SnapDeposits of $500 or more per statement cycle, or holding $2,500 in combined deposit accounts with the same statement cycle date or having a Health Savings Account or investment account
Checking Minimum Deposit
Mobile App Rating
4.5/5 on iOS, 3.4/5 on Android
4.9/5 on iOS, 4.7/5 on Android
4.8/5 on iOS, 4.3/5 on Android
Alliant Credit Union Review
Chase has some great features including a massive selection of credit card options. Both banks also offer some great mortgage packages. PNC also has some innovative credit card options, and you can also access personal loans.
Read Full Comparison: Chase vs PNC Bank: Which Bank Account Is Better?
The Wells Fargo service is even more extensive. Checking accounts, various savings accounts, mortgages, loans, and investment options such as IRAs, 401ks, and wealth management solutions are all available.
PNC offers checking and savings accounts, home loans, mortgages, investments, student loan refinancing, and a variety of credit cards.
Read full comparison: Wells Fargo vs PNC: Which Bank Account Wins?