What PNC Bank is and who banks there

PNC Bank is a regional bank headquartered in Pittsburgh, Pennsylvania, with branches across the eastern and midwestern United States. It is one of the largest banks in the country by assets and offers checking accounts, savings accounts, credit cards, mortgages, and investment services to individuals and businesses. If you live in or near Pennsylvania, New Jersey, Ohio, Kentucky, Indiana, Florida, or several other states, you may have a PNC branch near you.

PNC is a traditional bank, meaning it operates physical branches where you can deposit checks, withdraw cash, and speak with a banker in person. It also offers online and mobile banking so you can manage your money from your phone or computer. Like all banks, PNC is insured by the Federal Deposit Insurance Corporation (FDIC), which means your deposits up to $250,000 per account type are protected if the bank fails.

PNC is owned by shareholders and is a publicly traded company, not a credit union or online-only bank. This matters because it affects the fees PNC charges, the interest rates it pays, and the services it offers.

Key Takeaways

  • PNC offers checking and savings accounts at physical branches and online, with FDIC protection up to $250,000 per account type.
  • Monthly maintenance fees vary by account type and can be waived if you meet balance or deposit requirements that differ by state and account.
  • PNC's interest rates on savings accounts are typically lower than online-only banks, but you have access to in-person banking and a large ATM network.
  • PNC charges overdraft fees and out-of-network ATM fees, though it offers some overdraft protection options to avoid these charges.
  • You can open a PNC account online, by phone, or in person at a branch, and you will need an ID and Social Security number to start.

Types of accounts PNC offers and their monthly costs

PNC's main checking account is called PNC Checking, and it comes with a debit card, online banking, and access to PNC's ATM network. The monthly maintenance fee is $7, but PNC waives it if you keep a minimum balance (usually $500 to $1,500 depending on your state and the specific account) or set up direct deposit. Some customers also waive the fee by maintaining a linked savings account or using PNC's bill pay service regularly.

PNC also offers Virtual Wallet, which is a checking account bundled with savings tools and spending tracking. Virtual Wallet has a $7 monthly fee that is waived under the same conditions as regular checking. The main difference is that Virtual Wallet includes a "Reserve" savings pocket and spending alerts designed to help you avoid overdrafts.

For savings, PNC offers a PNC Savings Account with a monthly maintenance fee of $5, waived if you maintain a minimum balance (usually $300 to $500). The interest rate PNC pays on savings is set by the bank and changes over time; it is typically lower than what online-only banks pay because you have the option to visit a branch.

PNC also offers money market accounts, certificates of deposit (CDs), and individual retirement accounts (IRAs), each with different fees and interest rates. If you are interested in these products, you can ask a PNC banker or check PNC's website for current terms.

Fees you may encounter and how to avoid them

Beyond the monthly maintenance fee, PNC charges several other fees. An overdraft fee is charged if you spend more money than you have in your account; PNC typically charges $35 per overdraft. If you overdraw your account multiple times in one day, you may be charged multiple overdraft fees. PNC offers overdraft protection, which links your checking account to a savings account or credit line so that money is transferred automatically if you overdraft, though this transfer may come with a small fee.

An out-of-network ATM fee is charged if you withdraw cash from an ATM that is not owned by PNC. PNC typically charges $3 per out-of-network withdrawal. PNC has a large ATM network, so if you live in an area where PNC operates, you can usually find a PNC ATM nearby. If you travel or live in a state where PNC does not have branches, out-of-network fees can add up quickly.

PNC also charges fees for wire transfers (typically $15 to $25), stop payments on checks ($35), and returned checks ($35). These fees are less common than overdraft and ATM fees, but they can occur if you use these services. You can avoid most of these fees by keeping a positive balance, using PNC ATMs, and not writing checks that will bounce.

How to open a PNC account

You can open a PNC checking or savings account in three ways: online, by phone, or in person at a branch. To open an account, you will need a valid government-issued ID (such as a driver's license or passport), your Social Security number, and proof of your current address (such as a utility bill or lease). You will also need to provide your employment information and initial deposit amount.

If you open online, the process typically takes 10 to 15 minutes. You will answer questions about yourself, choose your account type, and set up online banking. PNC will then mail you a debit card, which usually arrives within 5 to 10 business days. You can start using your account online when ready, but you cannot withdraw cash or use your debit card until it arrives.

If you open in person at a branch, a banker will help you fill out the process and answer your questions. You can receive your debit card on the spot or have it mailed to you. Opening in person takes about 30 minutes and is a good option if you have questions or prefer to speak with someone face-to-face.

PNC's online and mobile banking tools

Once you open a PNC account, you can log into PNC's website or read the PNC Mobile app to check your balance, transfer money between accounts, pay bills, deposit checks by taking a photo, and set up alerts. The mobile app also shows your spending by category and lets you freeze your debit card if it is lost or stolen.

PNC's bill pay service lets you schedule payments to companies and individuals from your checking account. You can set up recurring payments (such as rent or insurance) or one-time payments. Bill pay is free and typically takes 1 to 3 business days to reach the recipient. If you need a payment to arrive faster, PNC offers expedited delivery for a fee.

PNC also offers Popmoney, which is a service that lets you send money to friends and family using their email address or phone number. Popmoney transfers are free if both people have PNC accounts, but there may be a fee if the recipient banks elsewhere.

Interest rates and how they compare to other banks

PNC's interest rates on savings accounts and money market accounts are set by the bank and change based on the Federal Reserve's interest rate decisions. Because PNC is a traditional bank with physical branches, its rates are typically lower than what online-only banks pay. For example, if an online bank pays 4.5% on a savings account, PNC might pay 3.5% or less on the same account.

This does not mean PNC is a bad choice for savings. The trade-off is that you have access to in-person banking, a large ATM network, and the ability to speak with a banker about your financial goals. If you value convenience and personal service over the highest possible interest rate, PNC may be right for you. If you are saving a large amount of money and want the highest interest rate, an online-only bank may be a better choice.

PNC's rates on CDs vary by the length of the CD (3 months, 6 months, 1 year, 2 years, and so on). Longer CDs typically pay higher rates. You can check PNC's current rates on their website or by calling a branch.

PNC's customer service and how to reach them

PNC offers customer service by phone, online chat, email, and in person at branches. The phone number for customer service is on the back of your debit card and on PNC's website. Wait times vary depending on how busy PNC is, but you can usually reach someone within 10 to 20 minutes during business hours.

If you have a problem with your account—such as a fraudulent charge, a missing deposit, or a fee you believe was charged in error—you can dispute it through PNC's website, by phone, or in person at a branch. PNC will investigate and typically respond within 10 business days. If PNC finds that the charge was fraudulent or the fee was an error, it will refund your money.

PNC also offers financial information through its branches. If you want to discuss your savings goals, investment options, or borrowing needs, you can schedule an appointment with a PNC banker. This service is free for account holders.

Frequently Asked Questions

Can I use my PNC debit card at other banks' ATMs?

Yes, but you will be charged an out-of-network ATM fee, typically $3 per withdrawal. PNC has a large ATM network, so you can usually find a PNC ATM nearby if you live in an area where PNC operates. If you travel frequently or live in a state without PNC branches, consider an online bank or a bank with a larger national network to avoid these fees.

What happens if I overdraft my account?

PNC will charge you an overdraft fee, typically $35 per overdraft. If you overdraft multiple times in one day, you may be charged multiple fees. You can set up overdraft protection by linking your checking account to a savings account or credit line so that money transfers automatically if you overdraft, though this may come with a small fee.

How long does it take to receive my debit card after opening an account?

If you open online, your debit card usually arrives within 5 to 10 business days. If you open in person at a branch, you can receive your debit card on the spot or have it mailed to you. You can start using your account online when ready, but you cannot withdraw cash or use your debit card until it arrives.

Does PNC offer credit cards?

Yes, PNC offers several credit cards with different rewards programs and interest rates. You can learn about PNC's credit card options on their website or by speaking with a banker at a branch. Credit cards are a separate product from checking and savings accounts.

Is my money safe at PNC?

Yes, PNC is insured by the Federal Deposit Insurance Corporation (FDIC), which means your deposits up to $250,000 per account type are protected if the bank fails. This protection covers checking accounts, savings accounts, and money market accounts separately, so you can have up to $250,000 in each type of account and all of it is protected.