Are you interested in a detailed review of the PNC Virtual Wallet? At Responsible Economy, we have conducted a comprehensive analysis of its features, including fees, interest rates, welcome bonuses, requirements, and everything you need to know. Furthermore, we provide an in-depth comparison of the leading checking accounts currently accessible in the United States for 2023. Welcome!
Video Virtual Wallet
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Features
In this section, we present all the features of the PNC Virtual Wallet.
Fees
This checking account is free as long as you meet one of the following requirements:
- Make a monthly deposit exceeding $500
- Maintain a balance of over 500€ across all PNC checking accounts.
PNC Virtual Wallet has a monthly fee of $7 ($84 per year) if you do not meet any of the mentioned requirements.
Minimum deposit
The minimum initial deposit to open the account is $25.
Cash withdrawals at ATMs
You can only withdraw money without fees at PNC ATMs. At non-PNC ATMs, there is a $2.50 commission fee for each withdrawal.
Zelle
PNC allows you to conveniently send and receive money using Zelle.
Overdraft services
Virtual Wallet offers an Overdraft service where you can have a negative balance in your account, but you will be charged a $36 fee for each item. The maximum limit that can be charged per day is 1. Below you will find all the information.
Early direct deposit
Even if you have direct deposits, you won’t be able to receive your paycheck early.
Bonus
When you make a direct deposit of $500, you will receive a welcome bonus of $50. PNC is one of the banks with the highest welcome bonus in the United States.
Summary table
We have created a summary table with all the features:
| Feature | Details |
|---|---|
| Fees | This checking account is free if you meet one of the following requirements: Make a monthly deposit exceeding $500 or Maintain a balance of over 500€ across all PNC checking accounts. Otherwise, PNC Virtual Wallet has a monthly fee of $7 ($84 per year). |
| Minimum Deposit | The minimum initial deposit to open the account is $25. |
| Cash Withdrawals at ATMs | Free at PNC ATMs, $2.50 commission fee at non-PNC ATMs per withdrawal. |
| Zelle | PNC allows convenient money transfers using Zelle. |
| Overdraft Services | Virtual Wallet offers Overdraft service with a $36 fee per item, maximum of 1 charge per day. |
| Early Direct Deposit | You will not receive your paycheck early, even with direct deposits. |
| Bonus | Receive a bonus when you make a direct deposit of $500. |
Requirements
To open a Virtual Wallet with, you must meet the following requirements:
- Reside in the United States
- Provide proof of your address.
- Have a Social Security number.
- Possess a US phone number.
Fees
As mentioned before, the monthly fee is $7 unless you meet one of the following conditions:
- Make a monthly deposit exceeding $500
- Maintain a balance of over 500€ across all PNC checking accounts.
We also provide a list of other potential fees:
- Incoming transfers: $15
- Outgoing transfers: $25
Pros
We have made a list with all the advantages that the Virtual Wallet has:
- Wide availability of offices and branches throughout the United States.
- $50 welcome bonus
- No fees by meeting the conditions.
Cons
Here we show you all the disadvantages:
- Very low interest rates on the checking account.
- Monthly fees if requirements are not met.
Frequent questions
Now we are going to answer all the questions you may have about Virtual Wallet:
Comparison of the best checking accounts in 2023
We have made a chart with the best checking accounts that you can open in the United States:
- It is very easy to avoid monthly commissions
- Welcome bonus of 200 dollars fulfilling conditions
- More than 16,000 ATMs in the United States
- $25 minimum deposit
- Very low interest rates
- It is very easy to avoid monthly commissions
- More than 16,000 ATMs in the United States
- $100 minimum deposit
- No welcome bonus
- High interest rates if you have a lot of savings
- It is very easy to avoid monthly commissions
- Nearly 12,000 ATMs
- $25 minimum deposit
- Welcome bonus of 300 dollars fulfilling conditions
- High interest rates on CDs
- No fees and no requirements
- Nearly 60,000 ATMs
- Welcome bonus of 250 dollars fulfilling conditions
- High interest rates on CDs
- No fees no direct deposits
- Fee-free withdrawals from ATMs around the world
- Without minimum deposit
- No welcome bonus
- High interest rates on CDs
- No fees no direct deposits
- More than 60,000 commission-free ATMs
- Without minimum deposit
- No welcome bonus
- High interest rates on Savings
- No fees no direct deposits
- More than 50,000 commission-free ATMs
- Without minimum deposit
- No welcome bonus
- High interest rates on CDs and Savings
- Commissions of $10 if you do not meet requirements
- No fees at Citibank ATMs
- Without minimum deposit
- No welcome bonus
- High interest rates on CDs
Video with the best banks
Here you have a video with best checking accounts in 2023:
More information about PNC
Here you have interest information about PNC:
| Banco | PNC |
|---|---|
| Sitio web | www.pnc.com |
| www.facebook.com/pncbank | |
| twitter.com/PNCBank | |
| www.instagram.com/pncbank | |
| www.linkedin.com/company/pncbank |
Conclusion and opinions
Based on the analysis conducted, our opinion is that the PNC Virtual Wallet is not a competitive account because it is difficult to avoid monthly fees and the interest rate it offers is very low. On the other hand, PNC is one of the major banks in the United States and it offers a $50 welcome bonus.
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Updated the day 1 September, 2023 by Alfredo Barandiarán
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