PNC Bank Reviews: Checking, Savings, CD, Money Market, and IRA Rates


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PNC Bank is one of the oldest and largest banks in the country, founded shortly after the American Revolution. Although it is based out of Pittsburgh and its 2,600 branches are mostly located across the Eastern U.S., that doesn’t mean you’re out of luck if you’re in the western U.S.
PNC Bank offers a robust online banking platform with plenty of helpful features. But is it the right bank for you? How do its rates compare with those of other banks? Let’s walk you through the different types of PNC Bank account offerings.
It’s important to note that PNC Bank charges different rates across the country. To keep things consistent for comparison purposes, we’ll present you with the rates closest to their headquarters in Pittsburgh using the ZIP code 15222. To see rates for your local area, click here .



In this review, we’ll cover:
PNC Bank’s Virtual Wallet ®
PNC Bank checking accounts
PNC Bank savings accounts
PNC Bank CD rates
PNC Bank money market accounts
PNC Bank fixed rate IRA CD account
PNC Bank’s student Virtual Wallet ®






PNC Bank’s Virtual Wallet ®


Wouldn’t it be great if you could get a super-easy holistic account package when you decide to switch banks? That’s what PNC Bank aims to offer with its Virtual Wallet ® kit . It’s a complete set of accounts for everything you need to do, including:

Spend : An everyday checking account.
Reserve : A savings account for short-term goals, like a vacation or Christmas gifts.
Growth : A savings account for long-term goals, like a down payment on a house.

Virtual Wallet ® accounts also come with different tiers of interest rates, depending on whether you meet certain qualifications. We’ll do a deeper dive on that later.
What’s really neat about PNC Bank’s Virtual Wallet ® is that it comes with all sorts of tools to help you manage your money better. Within the checking account, you can take advantage of the following tools:

Calendar : Allows you to see scheduled bills and amounts due.
Online bill pay : Will pay your bills for you automatically on their due dates.
Danger Day : Shows you when you might run out of money for the month.
Spending Zone : Allows you to set up and track your spending in a budget.
Money Bar : Shows you how your money is divvied up: savings, scheduled for bills, or free to spend.

The Virtual Wallet ® even makes it easier to save in Reserve and Growth savings accounts with the following features:

Punch The Pig : Gamifies your savings when you hit a pig icon to transfer money to your Growth account.
Wish List : Allows you to set up and track individual savings goals separately from each other.
Early closure fee: $25 if you close the account within 180 days of opening.
Savings Engine : Automatically puts money into savings when you’re paid, or if you pay a bill.





PNC Checking Accounts


PNC Bank’s checking accounts are, overall, pretty lackluster. The only advantage of using them is that you get access to the Virtual Wallet ® account package, which actually does offer some nice money management tools. But you can still get access to budgeting tools and savings apps elsewhere that can do all the same jobs as the Virtual Wallet ® .
The rewards structure for these checking accounts is confusing. There’s no way to know whether you’ll earn good rewards, since you have to log into a portal and manually activate them ahead of time. Furthermore, once you do earn those rewards points, you have to redeem them through another portal. Some checking accounts do come with discounts, but they’re mostly on more obscure banking products you probably aren’t going to use much anyway, like cashier’s checks or safety deposit boxes.
These accounts carry a lot of red tape and fees. They also don’t pay much interest, if any. If earning the highest interest rates possible (with the least amount of fine print and fees) is your goal, there are much better checking accounts elsewhere.
Read on to find out more about all of PNC’s checking account offerings:

PNC checking accounts with Virtual Wallet ®

Virtual Wallet ® Basic
Virtual Wallet ® with Performance Spend
Virtual Wallet ® with Performance Select

PNC Checking Accounts Without Virtual Wallet ®

Performance Select checking
Performance checking
Standard checking




Checking accounts with Virtual Wallet ®


Virtual Wallet ® Basic

A basic account for lower-income earners who want to use Virtual Wallet ® features to manage their money.

If you’re looking to take advantage of PNC Bank’s Virtual Wallet ® account package but don’t earn a huge income, this basic account is where you’ll want to start.
Just beware of fees; there are plenty that come with this product, including the following:

Minimum opening deposit : $25
Interest rate : The Spend account does not earn interest. The Reserve and Growth accounts earn 0.01% APY. If you meet qualifications (such as making at least five debit transactions per month from your Spend account), you can earn up to 0.10% APY with your Growth account.
Monthly account maintenance fee : $7
How to waive the account maintenance fee :

Keep at least $500 in your Spend and/or Reserve accounts
Have at least $500 direct-deposited into your Spend account
Be 62 or older
Provide proof of active enrollment in a qualifying education institution (expires six years after the account is enrolled in the student banking program).


ATM fees : No charge at PNC Bank ATMs. $3 for every domestic non-PNC Bank ATM transaction, and $5 for every international non-PNC ATMS.
ATM fee refunds: None.
Overdraft fees : $36 per charge, up to four charges per day. $7 per day for each day the account remains overdrawn. Any overdraft fees will be refunded if the overdrafted amount is less than $5. They will not charge you if you set up Overdraft Protection Transfer from your Reserve or Grow accounts.
Early closure fee : $25 if you close the account within 180 days of opening.

This checking account does come with a rewards program, but we’ll be honest: it is confusing.
To earn rewards points, you’ll need to log into the PNC Bank Rewards Portal to see and manually activate customized offers just for you, based on your spending history.
You can redeem your rewards through the online rewards catalog or receive cash back directly into your account. If you link up a PNC Points Visa credit card with your account, you can also earn 25 percent more rewards points for your purchases.
Because of the complexity of assessing the value of the rewards program before you sign up, we think that this is a nice bonus feature but not one you should base your decision on. If you’re looking for cashback rewards , there are many better, more transparent options for you.
If you decide to open a basic Virtual Wallet ® account with PNC Bank, the process is relatively straightforward.
You can do it online, over the phone, or in a local branch if one is nearby. Simply provide some basic information (name, address, Social Security number and the like), have a government-issued photo ID ready, and a way to make an opening deposit with your existing bank’s routing and account numbers, or with a debit or credit card.



Virtual Wallet ® with Performance Spend

A low-interest-earning account for those who earn a higher income and want to use the Virtual Wallet ® package.

The Virtual Wallet ® with Performance Spend works exactly like the basic Virtual Wallet ® accounts, albeit with some extra threshold levels for higher rewards.

Minimum opening deposit : $25
Interest rate : 0.01% APY on balances over $2,000 for your Spend account or $1 for your Reserve account. Up to 0.35% APY on balances on your Growth account if you meet certain qualifications (such as making at least five debit purchases per month).
Monthly account maintenance fee : $15
How to waive the account maintenance fee :

Keep at least $2,000 in your Spend and/or Reserve accounts
Have at least $15,000 in another PNC Bank account or loan
Have at least $2,000 direct-deposited into your Spend account each month ($1,000 for military members).


ATM fees : No charge at PNC Bank ATMs. It’s $3 for every domestic non-PNC Bank ATM transaction, and $5 for every international non-PNC Bank ATMS.
ATM fee refunds : Two refunds per statement. However, ATM surcharges from the originating financial institution ATMs may not be refunded.
Overdraft fees : $36 per charge, up to four charges per day. $7 per day for each day the account remains overdrawn. Any overdraft fees will be refunded if the overdrafted amount is less than $5. You won’t be charged if you set up Overdraft Protection Transfer from your Reserve or Grow accounts.
Early closure fee : $25 if you close the account within 180 days of opening.

The rewards program is structured the same way as with the basic Virtual Wallet package. You’ll need to log into a portal to view and activate different rewards offers for purchases you make. When you’ve accumulated enough rewards, you can redeem them for an unknown amount of cash back or other rewards.
The Performance Spend also adds in a few extra rewards: You get up to two ATM fee refunds per month. You’ll also get discounts on check designs, an annual safe deposit box rental,`free cashier’s checks, and higher rates on certain CDs and IRA CDs You do have the potential to earn slightly higher (but still paltry) interest rates on your savings accounts.



Virtual Wallet ® with Performance Select

A low-interest-earning account for high earners who want to take advantage of Virtual Wallet ® features.

This Virtual Wallet ® package is built to be used by high-income earners. After all, you do not want to be paying a $25 monthly account fee, especially when you can get a much better rates at another bank.

Minimum opening deposit : $25
Interest rate : 0.01% APY on balances over $2,000 for your Spend account or $1 for your Reserve account. Up to 1.00% APY on balances over $1 on your Growth account if you meet certain qualifications (such as making at least five debit purchases per month).
Monthly account maintenance fee : $25
How to waive the account maintenance fee :

Keep at least $5,000 in your Spend and/or Reserve accounts
Have at least $25,000 in another PNC Bank account or loan
Have at least $5,000 direct-deposited into your account each month.


ATM fees : None for PNC Bank ATMS and non-PNC Bank ATMS.
ATM fee refunds : Up to $10 per month in non-PNC Bank surcharges (i.e., the fees the ATM owner tacks on).
Overdraft fees : $36 per charge, up to four charges per day. $7 per day for each day the account remains overdrawn. Any overdraft fees will be refunded if the overdrafted amount is less than $5. They will not charge you if you set up Overdraft Protection Transfer from your Reserve or Growth accounts.
Early closure fee : $25 if you close the account within 180 days of opening.

The Performance Select package comes with added bonus perks. In addition to all the perks from the Performance Spending package, you also will have fees waived for more obscure services, such as Stop Payment and ATM statements. You’ll also be eligible for savings on home equity lines of credit and personal lines of credit, and up to $10,000 in identity theft protection reimbursement.
Overall, though, we’re left feeling underwhelmed by the bonus perks that this account offers for all of the requirements.

Bonus: New checking account offer
PNC Bank is currently offering sign-up bonuses with the Virtual Wallet ® account package. If you open a new account and meet the requirements, you could be eligible for a lucrative sign-up bonus.
The bonus amount and the requirements depend on which account tier you open.
For a basic-level Virtual Wallet account, you’ll need to set up at least $500 of direct deposits into the account and make at least 10 purchases with your debit card. If you do those things, you’ll earn a $50 sign-up bonus.
The next level up is the Performance Spend account. To get the $200 sign-up bonus for this account, you’ll need to set up $2,000 of direct deposits and also make 10 purchases with your debit card.
Finally, you can earn a $300 sign-up bonus by opening a Virtual Wallet package with the Performance Select level. To earn this hefty bonus, you’ll need to schedule a $5,000 direct deposit into your account and make 10 debit card purchases.

PNC checking accounts without Virtual Wallet ®


Performance Select Checking

A basic interest-earning checking account for high-income earners who don’t need all the fancy Virtual Wallet ® features.

The Virtual Wallet ® account package is nice for people who want an all-inclusive money management experience. But what if you’re a high-income earner who just wants a simple, no-frills checking account?
That’s where the base Performance Select Checking account comes in. It has the same fees, reward program, requirements and interest-earning structure as the Virtual Wallet ® ’s Performance Select, just without the extra two Reserve and Growth savings accounts.
Signing up for the Performance Select checking account is easy and takes just a few minutes. You can go to a local branch if you’re near one, call or sign up online. You’ll need that photo ID, a way to fund your new account, and all the basic info, like Social Security number.



Performance checking

A basic interest-earning checking account for medium-income earners who don’t want Virtual Wallet ® features.

PNC Bank’s Performance checking account is its lowest-requirement interest-earning checking account. But with an interest rate of 0.01% APY that only applies to balances over $2,000, the amount of money you’ll earn with this account will be peanuts.
Furthermore, if you don’t meet all the same requirements (keeping at least $2,000 in your account, having $2,000 of direct deposits, or having $15,000 in another PNC Bank account or loan) as the Virtual Wallet with Performance Spend, you’ll have to pay a $15 monthly account fee.
This account does come with the same reward structure and banking discounts as the Virtual Wallet ® with Performance Spend account, however. If this sounds like the right account for you, you can easily sign up online, via phone or by visiting a local branch.



Standard checking

A basic-reward checking account for lower-income or retired consumers.

If you’re not interested in taking advantage of PNC Bank’s Virtual Wallet ® money management features but still want a reward checking account without all the red tape, the Standard account might be for you.
This non-interest-earning account, which carries the same fee, reward, and requirement structure as the basic Virtual Wallet ® account package, is easy to sign up for. All you need is a photo ID, basic personal information and a way to fund your account. You can sign up in just a few minutes online, over the phone or at a local branch.





PNC Savings Accounts


While you can save money with PNC Bank’s savings accounts, they’re not an effective way to earn interest. Their rates are well below the national average of around 0.20% APY and there are many hidden fees that can trip you up if you aren’t a model customer.
The “S” is for Savings account for children is an exception if you’re looking to teach your youngsters about money, however. With its neat interactive interface and “Sesame Street” characters, it can get any child excited about savings.
That doesn’t mean it’s the best tool for the job, though. There are many other savings accounts that offer better rates for both you and your children .
Read on to learn more about PNC’s savings account offerings.
Standard savings
“S” is for Savings


Standard savings

Low interest rates for a fee-heavy savings account.

PNC Bank’s basic savings account does technically earn interest — but that’s about all we can say about it. Though national savings account rates average around 0.19% APY, the best you can hope for with this account is 0.10% APY—-and only if you have more than $2,500 in your account and qualify for relationship rates.
To do this, you can set up a direct deposit into another account in one of the following amounts:

$500 to a Standard checking account
$2,000 to a Performance checking account
$5,000 to a Performance Select checking account

Alternatively, you can also qualify for the higher rates by making at least five purchases with your PNC Bank credit or debit card.
If you’re not able to meet these requirements for the higher relationship interest rates, you’ll only earn a measly 0.01% APY on your savings. That’s as low as you can go while still technically saying it does earn interest.
Furthermore, there are many hidden-fee traps with this account. For example, if you don’t meet another set of requirements to waive the monthly account fee, you’ll pay a $5 monthly account fee.

Minimum opening deposit : $25
Interest rate : 0.01% APY on balances over $1.00
Relationship interest rate : 0.05% APY on balances between $1.00 and $2,499.99. 0.10% APY on balances over $2,500.
Monthly account maintenance fee : $5
How to waive the account maintenance fee :

Keep $300 in your savings account
Be under age 18
Transfer at least $25 from this account to an Auto Savings account


ATM fees : No charge at PNC Bank ATMs. $3 for every domestic non-PNC Bank ATM transaction, and $5 for every international non-PNC Bank ATMS.
ATM fee refunds : None
Overdraft fees : $36 per charge, up to four charges per day. $7 per day for each day the account remains overdrawn. Any overdraft fees will be refunded if the overdrafted amount is less than $5.
Early closure fee : $25 if closed within 180 days of opening
Regulation D violation fee : You get six free transactions per month, as per Federal Regulation D. After that, you’ll pay $15 per transaction.

At least the bank does make it easy to open an account if you decide you want to go this route. You can do it online, over the phone, or at a local branch. You’ll need just a few minutes of your time along with a photo ID, basic personal information and a way to fund your new account.


“S” is for Savings

Fun savings tools for children, but don’t expect to teach them about earning interest.

It can be tough to teach young ones about money, but this savings account can help in a few ways. Children can set savings goals for things like a new bike or a toy.
When money is deposited into the account, children are presented with a visual of three buckets that they can choose to put the money in:

Saving (for later)
Sharing (to be given to charity or other people)
Spending (to be spent right away)

Even cooler is an interactive learning center where young savers can learn about basic money management from “Sesame Street” characters.
These features are great for teaching basic financial concepts, except for one thing: how compound interest works. This account earns a rock-bottom interest rate of 0.01% APY. Since your child probably isn’t going to be saving hundreds of thousands of dollars in this account, he or she won’t really be able to see compound interest in action.

Minimum opening deposit : $25
Interest rate : 0.01% APY on balances over $1
Monthly account maintenance fee : $5
How to waive the account maintenance fee :

Be under age 18
Keep at least $300 in this account
Transfer at least $25 from this account to an Auto Savings account each month


ATM fees : No charge at PNC Bank ATMs. $3 for every domestic non-PNC Bank ATM transaction, and $5 for every international non-PNC Bank ATMS.
ATM fee refunds : None
Overdraft fees : $36 per charge, up to four charges per day. $7 per day for each day the account remains overdrawn. Any overdraft fees will be refunded if the overdrafted amount is less than $5.
Early closure fee : $25 if you close the account within 180 days of opening.

Luckily, this account is pretty easy to open. All you need is a photo ID for yourself (not your child), a way to fund the account, and your child’s personal information. It only takes a few minutes to complete an application, which you can do online, in person at a local branch or over the phone.




PNC CD Rates


PNC Bank offers a diverse set of CDs, which is great because it provides you with the most flexibility for your personal situation. Not everyone is able or willing to use a one-size-fits-all CD.
The rates offered for these CDs fall well short of national averages, however. If you’re looking to maximize the amount of return for your money, there are many better options.
Read on for more on PNC’s CD offerings:
Fixed-rate CDs
Standard CD rates
Ready access CDs
Callable CDs
Variable-rate CDs
Step-rate CDs


Fixed-rate CDs

Large amounts of cash needed for below-average returns.

To get started with a PNC Bank Fixed Rate CD, you’ll need a deposit of at least $1,000. The bank will notify you and give you a 10-day grace period when your CD term is due to allow you to decide what to do with it (withdraw, or renew?). If you do nothing, the CD will automatically renew with the same term.
Although PNC Bank does allow CDs with a deposit of as little as $1, there’s a hidden catch: deposit amounts between $1 and $999.99 are only available for CDs that are being renewed — which means you can’t start out at this level with your first deposit amount.
Furthermore, the rates offered for their CDs are again very low.
For example, the average national rates for a 1-year and 5-year CD are 0.63% APY and 1.56% APY with a $1,000 deposit, respectively. But PNC Bank? They’re just 0.13% APY and 0.60% APY, respectively—less than half the national average.


Standard CD rates





  $1.00 - $999.99 $1k - $9,999.99 $10k - $24,999.9 $25k - $99,999.99 $100k - $499,999.99 $500k +




1 month 0.04% 0.05% 0.05% 0.05% 0.05% 0.05%


3 months 0.04% 0.05% 0.06% 0.07% 0.08% 0.09%


6 months 0.04% 0.06% 0.08% 0.10% 0.12% 0.14%


12 months 0.04% 0.13% 0.15% 0.18% 0.20% 0.22%


18 months 0.04% 0.18% 0.25% 0.28% 0.30% 0.35%


24 months 0.04% 0.25% 0.30% 0.35% 0.38% 0.43%


36 months 0.04% 0.30% 0.35% 0.38% 0.40% 0.45%


48 months 0.04% 0.50% 0.55% 0.65% 0.70% 0.75%


60 months 0.04% 0.60% 0.70% 0.90% 0.95% 1.0%


84 months 0.04% 0.90% 0.95% 1.05% 1.15% 1.25%


120 months 0.04% 1.10% 1.20% 1.30% 1.40% 1.50%


Promotional rates


$1.00 - $999.99 $1k - $9,999.99 $10k - $24,999.99 $25k - $99,999.99 $100k - $499,999.99 $500k +


9 months 0.04% 0.06% 0.08% 0.10% 0.12% 0.15%






Minimum deposit amount : $1,000
Interest compounded : Monthly
How interest is paid : Deposited into your CD account monthly
Grace period : 10 days to decide whether to renew or withdraw the CD
Early withdrawal penalties : For CDs with terms between 3 months and one year, you’ll lose the amount of interest you would have earned. For CDs with terms over one year, you’ll lose six months’ worth of interest.

If you do decide to open a Fixed Rate CD, you’ll need a bit more information than with a standard checking or savings account. You’ll need current personal and employment information, and a photo ID. You can apply online, at a local branch, or over the phone.


Ready Access CDs

A better option to earn higher interest rates and skirt around the rules of PNC Bank’s savings account.

CDs can be tough to invest with. On one hand, they offer higher rates than a savings account. But, if something comes up and you need the cash, you generally can’t withdraw it without paying an early withdrawal fee that could wipe out your earnings.
PNC Bank’s Ready Access CD is a great option for these scenarios. While the rates still aren’t the greatest, the 12-month Ready Access CD interest rate is actually higher than their highest-earning savings account that has tons of red tape, fees, and stipulations surrounding it (see PNC Bank’s Standard Savings account above).
You can withdraw the money from this CD at any time penalty-free after the account has been open for at least seven days. These CDs will also automatically renew, meaning they’re a great option to store your emergency savings to earn a higher interest rate. In a worst-case scenario, you won’t be able to pull the money out within a brief seven-day period each year without incurring an early withdrawal fee.
Otherwise, it’s a great way to skirt around the rules and fees of their savings account while still earning a higher rate.





Term APY Minimum Balance Amount




3 months 0.05% $1,000


12 months 0.15% $1,000






Minimum deposit amount : $1,000
Interest compounded : Monthly
How interest is paid : Deposited into your CD account monthly
Grace period : 10 days to decide whether to renew or withdraw the CD
Early withdrawal penalties : You will forfeit any interest earned.

You can open a Ready Access CD online, over the phone or in-person at a local branch. You’ll need a photo ID, employment and personal information, and a way to fund your new account.


Callable CDs

Higher rates that still underperform national averages with added fine print.

If the rates of PNC Bank’s Fixed Rate CDs left you feeling a bit underwhelmed, you do have an opportunity to earn a slightly higher rate with Callable CDs. Still these rates are around half of what national averages are for these CD term lengths.
The way it works is a little confusing. PNC Bank has the right to call back its CD if it decides the interest rate isn’t working in its favor. This just means that it’ll pay out what you’ve already earned instead of paying a higher interest rate for the full term length of the CD. It can only call back the CD after you’ve had it open for 12 months (for a 36-month Callable CD), or 24 months (for a 60-month Callable).
If this happens, you’ll get an advance notice of the actual “call date” of the CD. After this date, you’ll have 10 full days to decide whether you want to withdraw the cash or renew it into another CD. If you do nothing, the bank will automatically roll the funds over into a 12-month fixed-rate CD.





Term APY Minimum Balance Amount




36 months 0.50% $10,000


60 months 1.10% $10,000






Minimum deposit amount : $10,000
Interest compounded : Monthly
How interest is paid : Deposited into your CD account monthly
Grace period : 10 days to decide whether to renew or withdraw the CD
Early withdrawal penalties : Six months’ worth of interest.

Getting a Callable CD is relatively straightforward, but you’ll need a few pieces of information. You can open an account over the phone, in person at a local branch or online. You’ll need a photo ID, employment and personal information, and a way to fund your new CD.


Variable-rate CDs

Earn fair rates through a changing interest rate environment.

You’ve probably heard all the kerfuffle surrounding the Federal Reserve changing interest rates. That can cause banks to change their own CD rates, and if you’re locked into a long-term CD, that change might not be in your favor.
Instead, PNC Bank offers an option for these scenarios. You can choose from just one term length — 18 months — and the interest rate you earn will be tied to the current price of a three-month Treasury Bill. Right now, as of November 2017, that’s running at 1.17% APY.
After the 18-month period is up, your variable-rate CD will renew into another CD of the same type.

Minimum deposit amount: $1,000
Interest compounded: Monthly
How interest is paid: Deposited into your CD account monthly
Grace period: 10 days to decide whether to renew or withdraw the CD
Early withdrawal penalties: You’ll lose six months’ worth of interest.

To open a Variable Rate CD, you’ll need a few things. You’ll need to provide personal information and employment history, as well as a photo ID. You can apply in person at a local branch, over the phone or online.


Step-rate CDs

Frequent access to your cash with an unknown earning potential.

If you want more frequent access to your money but don’t want to commit to a Ready Access CD, then a step-rate CD might be right for you. This CD is available in 36-month term lengths, which are further subdivided into six six-month terms.
Every six months you’re given a 10-day period where you can withdraw your cash penalty-free if you wish. If you choose to leave it in the account, the interest rate will be bumped up a notch each time.
The downside of this CD is that the lender won’t tell you what the interest rates for each step are until you sign up for an account. So, it’ll be a surprise!

Minimum deposit amount : $2,500
Interest compounded : Monthly
How interest is paid : Deposited into your CD account monthly
Grace period : 10 days to decide whether to renew or withdraw the CD
Early withdrawal penalties : You’ll lose six months’ worth of interest.

To open a Step Rate CD, simply go online, call PNC Bank, or visit them in person if you live near a local branch. You’ll need to provide them with basic personal and employment information, and a photo ID.




PNC Bank Money Market Accounts


For most products, PNC Bank offers below-average rates. Its money market account is one exception — if you can meet the added requirements. Otherwise, you’ll earn measly rates and might actually lose money if you have to pay the monthly account fee.
The higher rates offered for customers who qualify are actually right on par with national averages. But, as with the rest of their products, you can still find better account rates and terms with other banks.
PNC Bank’s basic money market account isn’t anything to write home about on its own. But, if you can take advantage of the higher rates offered if you have a Performance Checking or Performance Select Checking account, you can actually earn decent returns on your savings.
To qualify for these higher interest rates, you’ll need to meet at least one of these other requirements in addition to having the extra checking account:

Set up a monthly direct deposit amount ($2,000 to a Performance Checking account, or $5,000 to a Performance Select Checking account)
Make at least five purchases a month with your PNC credit or debit card

Just be sure to watch out for the hidden fees, especially the monthly account maintenance fee. If you’re not able to keep $5,000 in your account, it’ll be a $12 fee each month.

Minimum opening deposit : $100
Maximum opening deposit : $10,000
Monthly account maintenance fee : $12
How to waive the account maintenance fee : Keep at least $5,000 in your account.
ATM fees : No charge at PNC Bank ATMs. $3 for every domestic non-PNC Bank ATM transaction, and $5 for every international non-PNC Bank ATMS.
ATM fee refunds : None
Overdraft fees : $36 per charge, up to four charges per day. $7 per day for each day the account remains overdrawn. Any overdraft fees will be refunded if the overdrafted amount is less than $5.
Early closure fee : $25 if closed within 180 days of opening
Regulation D violation fee : You get six free transactions per month, as per Federal Regulation D. After that, you’ll pay $15 per transaction.






Balance to earn interest Standard APY APY when linked to Performance Checking APY when linked to Performance Select Checking




$1.00 - $9,999.99 0.03% 0.25% 0.60%


$10k - $24,999.99 0.09% 0.27% 0.60%


$25k - $49,999.99 0.11% 0.30% 0.70%


$50k - $99,999.99 0.13% 0.32% 0.80%


$100k - $249,999.99 0.15% 0.35% 0.85%


$250k - $499,999.99 0.15% 0.35% 0.85%


$500k - $999,999.99 0.17% 0.35% 1.00%


$1M and above 0.17% 0.35% 1.00%





To sign up for a PNC Bank Money Market account, you’ll need to apply either online, in person at a local branch, or over the phone. You’ll need a photo ID, and be able to provide bank account or credit card numbers to provide an opening deposit. Finally, you’ll also need to provide PNC Bank with basic personal information.




PNC IRA CDs


Unfortunately, PNC Bank falls short of the mark for Fixed Rate IRA CDs as well. The rates offered are measly compared with those of competitors, even when you look at the longest-running CDs with the highest deposit amounts. If you’re looking to grow your money, you can find better rates and terms for IRA CDs elsewhere.
Furthermore, there are fees to watch out for with this account. Unless you come to the table with a $2,000 minimum deposit, you’ll have to pay an annual account fee. If you ever want to transfer your money out of the bank, you’ll need to pay another fee. These fees could really eat into your already-tiny earnings.
Fixed-rate IRA CD account

Low rates for high-fee retirement savings.

This is one of the safest options around for growing your savings. PNC Bank offers multiple term lengths and rate tiers depending on how much money you want to invest and for how long.
Although it does offer IRA CDs in amounts from $1.00-$999.99, you actually can’t start your account with these. You can only renew existing IRA CDs in this amount, meaning that you’ll need to bring at least $1,000 to the table if you want to open an account.

Minimum opening deposit : $1,000
Annual custodian fee : $25
How to waive the annual custodian fee : Keep at least $2,000 in your account.
Interest compounded : Monthly
How interest is paid : Deposited into your CD account monthly
Transfer fee : $25 if transferring money to another PNC savings or checking account, or to another bank.
Grace period : 10 days to decide whether to renew or withdraw the CD
Early withdrawal penalties : For Fixed Rate IRAs with terms between three months and one year, you’ll lose the amount of interest you would have earned. For CDs with terms over one year, you’ll lose six months’ worth of interest.

Standard rates





  $1.00 - $999.99 $1k - $9,999.99 $10k - $24,999.99 $25k - $99,999.99 $100k - $499,999.99 $500k +




6 months 0.04% 0.06% 0.08% 0.10% 0.12% 0.14%


12 months 0.04% 0.13% 0.15% 0.18% 0.20% 0.22%


18 months 0.04% 0.18% 0.25% 0.28% 0.30% 0.35%


24 months 0.04% 0.25% 0.30% 0.35% 0.38% 0.43%


36 months 0.04% 0.30% 0.35% 0.38% 0.40% 0.45%


48 months 0.04% 0.50% 0.55% 0.65% 0.70% 0.75%


60 months 0.04% 0.60% 0.70% 0.90% 0.95% 1.00%


84 months 0.04% 0.90% 0.95% 1.05% 1.15% 1.25%


120 months 0.04% 1.10% 1.20% 1.30% 1.40% 1.50%






Promotional rates





9-month fixed term Fixed rate only Fixed rate with Choice/Premium plan Fixed Rate with Performance/Performance Select/VW Performance




$1.00 - $999.99 0.04% 0.24% 0.29%





If you’d like to open a fixed-rate IRA CD account with PNC Bank, you’ll need to block out about 15 minutes of time from your day. You can apply over the phone, online or in person at a local branch.
New IRA account offer
PNC Bank is offering a nice promotion when you sign up for a new IRA Account until Dec. 31, 2017. First, you’ll need to sign up to receive the sign-up bonus coupon. After that, you’ll need to call up PNC Bank or visit a local branch in-person to open your account. You cannot take advantage of this sign-up bonus by signing up for an account online.
You’ll also need a hefty deposit amount to be able to take advantage of this offer. You’ll earn the following sign-up bonus based on your deposit amount:

$50 sign-up bonus for a $20,000 deposit
$100 sign-up bonus for a $50,000 deposit
$200 sign-up bonus for a $100,000 deposit
$600 sign-up bonus for a $250,000 deposit
$1500 sign-up bonus for a $500,000 deposit





PNC Bank’s student Virtual Wallet ® review



Great account package for young adults to learn money management skills.

PNC Bank offers all the functionality and perks of its regular Virtual Wallet ® package (Spend, Reserve, and Growth accounts) with added bonuses for students. One of these great features is parental alerts, so parents can also see, along with students, when the account balance is low.
This account package also comes with helpful financial education. It provides in-person financial education seminars if you’re lucky enough to have a local branch on your campus.

Minimum opening deposit : $25
Interest rate : The Spend account does not earn interest. The Reserve and Growth accounts earn 0.01% APY. If you meet qualifications (such as making at least five debit transactions per month from your Spend account), you can earn up to 0.10% APY with your Grow account.
Monthly account maintenance fee : None if you provide proof that you’re actively enrolled in an educational institution. Status expires 6 years from when you open the account.
ATM fees : No charge at PNC Bank ATMs. $3 for every domestic non-PNC Bank ATM transaction, and $5 for every international non-PNC Bank ATMS.
ATM fee refunds : Two per month. ATM surcharges (i.e., the extra fee the ATM’s owner tacks on) are not refunded.
Overdraft fees : $36 per charge, up to four charges per day. $7 per day for each day the account remains overdrawn. Any