Taylor Scott
PNC Bank offers a Virtual Wallet, which is a combined checking and savings account. It comes with tools to help users manage their finances, including a Virtual Wallet Calendar to view scheduled income, bills, and expenses, and a Money Bar to show an overview of remaining funds. The Virtual Wallet also includes a Spending Zone, which allows users to categorize their spending and create individual budgets. There are different Virtual Wallet profiles available, including Virtual Wallet with Performance Spend and Virtual Wallet with Performance Select, which offer varying levels of reimbursement for ATM fees. The Virtual Wallet Student option has no minimum balance requirement or monthly service charge for active students for six years from the date of account opening.
| Characteristics | Values |
|---|---|
| Account Types | Spend (Checking), Reserve (Short-Term Savings), Growth (Long-Term Savings) |
| Account Features | Checking & Savings, Low Cash Mode, Virtual Wallet Calendar, Money Bar, Zelle, PNC Alerts |
| ATM Access | 60,000 ATMs on or close to campus, including PNC and Partner ATMs |
| Rewards | $400 for opening a new Virtual Wallet with Performance Select, $200 for Performance Spend, $100 for Performance Spend Student |
| Fees | Reimbursement of first 2 PNC fees at non-PNC ATMs, up to $5 for other banks' ATM surcharge fees per statement cycle |
| Requirements | Must be opened online or in a physical PNC location, with a qualifying direct deposit received within the first 60 days |
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What You'll Learn
Virtual Wallet account types
PNC Bank's Virtual Wallet is a combined checking and savings account. It is designed to help users with spending, planning and saving, and comes with tools to help them better manage their financial life.
There are three types of Virtual Wallet accounts:
- Virtual Wallet with Performance Spend: This account includes reimbursement of the first two PNC fees at domestic or international non-PNC ATMs and up to $5 for other banks' ATM surcharge fees each statement cycle.
- Virtual Wallet with Performance Select: This account includes no charge for using other banks' domestic or international ATMs and up to $10 fee reimbursement per statement cycle for other banks' ATM surcharge fees.
- Virtual Wallet Student: This account has no minimum balance requirement or monthly service charge for active students for six years from the date of account opening.
The Virtual Wallet with Performance Select and Performance Spend accounts may offer rewards for opening and using the account. These rewards vary based on the type of account and the timing of the offer. For example, as of July 1, 2025, a new Virtual Wallet with Performance Select account may earn a $400 reward, while a Virtual Wallet with Performance Spend account may earn a $200 reward. These offers may be extended, modified or discontinued at any time.
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Virtual Wallet debit card
PNC Bank's Virtual Wallet is a combined checking and savings account for spending, planning, and saving. It is paired with tools to help you better manage your financial life. The Virtual Wallet includes the Spend (Checking), Reserve (Short-Term Savings), and Growth (Long-Term Savings) accounts. The Reserve account can be used as a potential overdraft buffer, while the Growth account accrues interest.
The Virtual Wallet has a Spending Zone section that lets you categorize your spending and create individual budgets for each category. The PNC Virtual Wallet then automatically generates a graphical budget report, providing a clear overview of your spending across categories. The Wish List feature allows you to allocate money in your Reserve account to specific goals, such as home renovations or vacations.
The Virtual Wallet Calendar feature allows you to view your scheduled income, bills, and expenses in a monthly, weekly, or daily format. It also helps you manage your funds by identifying potential overdraft dates as Danger Days. The Money Bar feature provides a visual representation of your remaining funds for general spending and allows for easy transfers between PNC accounts.
PNC also offers a Virtual Wallet Student account, which has no minimum balance requirement or monthly service charge for active students for six years from the date of account opening. This account provides convenient access to fee-free ATM banking with 60,000 options, including PNC and Partner ATMs inside convenience stores.
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Virtual Wallet fees
Virtual Wallet is a registered mark of The PNC Financial Services Group, Inc. It is a combined checking and savings account for spending, planning, and saving, with tools to help you better manage your financial life. It is an umbrella title for a combination of checking and savings accounts. The checking account, called Spend, is a basic, non-interest-bearing account. There are two savings account options that can be included with this package: Reserve, a secondary checking account, and Growth, a long-term savings account. The Reserve and Growth accounts also serve as built-in overdraft protection.
There is a monthly service charge of $7, which can be waived by meeting one of the following criteria:
- Maintaining a combined average monthly balance of at least $500 in your Spend and/or Reserve accounts.
- Having at least $500 per month in qualifying direct deposits to your Spend account, such as a paycheck.
- Being 62 years or older.
There is a $3 fee for each out-of-network ATM transaction. However, Virtual Wallet with Performance Spend includes reimbursement of the first 2 PNC fees at domestic or international non-PNC ATMs and up to $5 for other banks' ATM surcharge fees each statement cycle. Virtual Wallet with Performance Select includes no charge for using other banks' domestic or international ATMs and up to $10 fee reimbursement per statement cycle for other banks' ATM surcharge fees.
There is no minimum deposit required for the Virtual Wallet account. However, the Virtual Wallet with Performance Spend account earns interest.
The Virtual Wallet Student account has no minimum balance requirement or monthly service charge for active students for the first six years from the date of account opening. After six years, the account will be converted into a standard Virtual Wallet and will be subject to the standard Virtual Wallet fees.
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Virtual Wallet Student
PNC Bank offers a Virtual Wallet, which is a combined checking and savings account. It comes with tools to help you manage your financial life, including planning and saving. There are different Virtual Wallet products, including Virtual Wallet with Performance Spend and Virtual Wallet with Performance Select, which offer different fee structures for using non-PNC ATMs.
To open a Virtual Wallet Student account, applicants will need their Social Security number and a valid form of ID, such as a U.S. driver's license, State ID, or Military ID. If the applicant is under 18, an adult co-applicant is required.
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Virtual Wallet Calendar
The Virtual Wallet by PNC Bank is a combined checking and savings account for spending, planning, and saving. It is paired with tools to help you better manage your financial life. The Virtual Wallet includes the Spend (Checking), Reserve (Short-Term Savings), and Growth (Long-Term Savings) accounts. The Reserve account can be used as a potential overdraft buffer, while the Growth account accrues more interest.
The Virtual Wallet Calendar is a feature within the Virtual Wallet that allows users to view their scheduled income, bills, and other expenses in a monthly, weekly, or daily format with specific color-coding. The platform automatically labels dates with foreseeable overdrafts based on scheduled transactions as "Danger Days". The Money Bar is a bar graph that provides an overview of the remaining funds available for general spending. Users can transfer money seamlessly between various PNC accounts using the Money Bar.
The Virtual Wallet also includes the Spending Zone, which allows users to categorize their spending and create individual budgets for each category. The PNC Virtual Wallet then generates a graphical budget report. The Wish List feature is similar to the Spending Zone, allowing users to allocate money in their Reserve account to specific goals such as home renovations or vacations.
There are different Virtual Wallet profiles available, including the basic Virtual Wallet Checking Pro and Virtual Wallet with Performance Spend and Performance Select. The Virtual Wallet Student option is also available for active students, with no minimum balance requirement or monthly service charge for the first six years.
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Frequently asked questions
A Virtual Wallet is a combined Checking & Savings account for spending, planning & saving, paired with tools to help you better manage your financial life.
A Virtual Wallet helps you manage all your finances in one place. It also includes a Virtual Wallet Calendar, which allows you to view your scheduled income, bills, and expenses in a monthly, weekly, or daily view. You can also transfer money seamlessly between various PNC accounts.
PNC Bank offers different types of Virtual Wallets depending on your location. In some states, users will only have access to the basic Virtual Wallet profile called Virtual Wallet Checking Pro. In other locations, users can choose from Virtual Wallet with Performance Select, Virtual Wallet with Performance Spend, and Virtual Wallet. There is also a Virtual Wallet Student option for active students, which has no minimum balance requirement or monthly service charge for the first six years.
