PNC Virtual Wallet


Updated: December 7, 2018


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PNC Virtual Wallet is an online tool that allows you to manage money, accumulate savings, or use the checking accounts. Even though this tool is not free-to-use for the clients of the PNC Bank, there are certain circumstances under which you can waive the monthly fee (see lower). In this article, you will learn how the key features and tools of the virtual wallet, as well as how to sign up for it.

? What Is PNC Virtual Wallet?

As we have just shortly described above, PNC Virtual Wallet is a set of tools that allow you to manage your money. But apart from that, PNC offers savings and checking accounts that come along with this tool. That’s a nice combination of features for those financially conscious people, who want to manage effectively how and how much they spend.

Even though the PNC Virtual Wallet doesn’t offer as generous interest rates as some of the competitors (such as SmartyPig), there may still be reasons to apply for this account. The case is that this product is centered among a variety of budgeting tools, which can offer you the most value out of it. Besides, there are mobile apps for both Android and iPhone, so you can use this product basically anywhere.


? Features and Requirements of PNC Virtual Wallet

Above, we have stated that this tool is centered around the budgeting and money saving tools. But there are plenty of other reasons why you may consider applying for the PNC Virtual Wallet account. Among those reasons, one may definitely name the following ones:

  • Take advantage of withdrawing cash free of charge from more than 9,000 ATMs across the country.
  • Unlimited check writing.
  • Some fees for withdrawing cash at non-PNC ATMs are reimbursed later.
  • Earn rewards with the PNC Purchase Payback feature.
  • Free features of bill pay and online banking.
  • You will get bonus rewards if you link a select PNC credit card.
  • Enjoy higher relationship rates for your Growth account.

Even though this service tends to be quite beneficial for the customers, the thing that may scare off potential clients is the service fee of $7 per month. However, there are certain circumstances under which you can avoid paying the monthly fee. So, in order to avoid the monthly fee, you must match any following criteria:

  • The total qualifying direct deposits to the Spend account of $500 or more per statement period.
  • The average monthly balance of $500 or more in Spend and Reserve.
  • Being a customer of the Virtual Wallet Student from PNC.
  • Being aged over 62.

? PNC Virtual Wallet Tools

As you could understand from what we have explained above, there two groups of services this tool offers: money accounts and money management tools. At first, we will uncover what types of money accounts you may get with a PNC Virtual Wallet.

Once you have become a customer of PNC Virtual Wallet, you can take advantage of different types of bank accounts. Actually, you will have an opportunity to use three types of bank accounts:

  • SPEND account. This is your primary checking account, which is effectively designed to be used for daily needs. For using this account, you will receive a special, brand new Virtual Wallet Visa Debit Card. Every time you will use that debit card, the money will be withdrawn from this account. This is the account that you will have to use for paying the bills, for checking your current balance, and making your daily/weekly purchases.
  • RESERVE account. This is an account for short-term savings. While it’s good enough to keep small amounts of money here, you shouldn’t use it for long-term savings – don’t expect any worthwhile benefits from that. Having some money deposited in this account is beneficial, whereas it also works as your primary overdraft account. So if you run out of money on your SPEND account, the money will be taken from this account free of charge.
  • GROWTH account. This is a bank account for your long-term savings. It can offer a more decent interest rate than the Reserve account, and it is a perfect choice for accumulating your savings. This is a bank account where you can save money for a house, car, or paying off your college loans. This account also comes with a tiered structure, which means that you will earn more if you will save more. Besides, there are some other bonuses you will be able to take advantage of with this bank account.

But apart from that, we have also pointed out that you will get the most value of the Virtual Wallet budgeting tools. At this point of our article, we will disclose the key tools that you will get with the PNC Virtual Wallet.

Money Bar. This is a tool that allows you to get a glimpse of the money available on your accounts. All in all, it immediately shows how much you can spend and what are the oncoming expenditures. This bar breaks it down into three categories: scheduled money (the funds you have allocated for paying bills and making other payments), free money available for spending, and reserve money that you have deposited in the RESERVE account.

Calendar. Basically, this tool is a digital assistant for your money account, which facilitates dealing with money issues. The PNC Calendar shows bills, incomes, and spending in a colored way on a daily, weekly, and monthly basis. You will also get scheduled reminders about  the oncoming bills or payments, as well as about the spending you are going to make.

Spending & Budgeting. This feature helps you to understand what are the main expenditures every month. Basically, you will get to see how much you spend per month on education, restaurants, travel, gas, and other types of expenditures.

Online Bill Pay. Considering that you are going to use online banking from PNC Bank, you shouldn’t be surprised that the feature of PNC Online Bill Pay will be among the most important ones. Basically, you get an opportunity to pay your bills within a few clicks, which greatly facilitates the use of banking services.

Danger Pay. This feature allows you to spot a threat of getting an overdraft on your SPEND account before it actually happens. A light red color will immediately strike your eye, thus ensuring that you will definitely notice the danger. In a result, you are likely to avoid hefty overdraft fees that you would incur otherwise.

Mobile Banking. One of the great things about the PNC Virtual Wallet tool is that it comes with mobile apps. Having said this, it means that you are able to use your PNC Virtual Wallet tools on any device and with any OS – the apps are available for both iOS and Android. Considering that there is even a deposit money feature available in the mobile apps, you can deposit funds on the go and with ease.

Wish List. This is a feature that allows you to add different things that you want to buy in the future. Once you have added a certain item to the list, you can start saving for that product. Moreover, you can put the money towards that specific product in your Reserve or Growth account, which, in turn, will allow you to track the progress. After reaching the goal,  you can transfer the money to your Spend account.

Punch the Pig. Whenever you have accessed your online banking account, you can “punch the pig” that pops up each time and deposit a certain amount (any sum you want) to your Growth account from the Spend account. In this simple way, you will be able to add a small share to your savings each time you will access your account.

Savings Engine. This is a lot that is designed to make even those people save their money who aren’t really good at it. There are three options how you can accumulate your savings with ease. But one of the most important features of the Savings Engine is the Payday Savings Rule: a certain amount will be transferred from your Spend account to the Growth account once in a while – all can be set by you.


? Apply for PNC Virtual Wallet

If this product from PNC Bank looks appealing to you, you may consider applying for it. For that, you shouldn’t necessarily be an existing customer of PNC Bank. The entire application process takes from 10 to 15 minutes, but there’s definitely nothing difficult. If you want to submit an application for this product, just follow the guidelines below.

This is how you can submit an application for a Virtual Wallet tool from PNC Bank:

  • First of all, you have to open a new tab in the browser and copy the following URL into its address line: https://www.pnc.com/en/personal-banking/banking/checking/virtual-wallet.html. Then, hit the “Enter” button.

PNC Virtual Wallet Benefits

  • After accessing the webpage of Virtual Wallet on the website of PNC Bank, you should click on the orange “APPLY NOW” button there – you will notice it right below the “Virtual Wallet” header.

PNC Virtual Wallet Tools

  • Right after clicking on that button, you will get to see a page where you will be able to submit an application, which consists of four steps. At that point, scroll down a bit below.

pnc bank virtual wallet benefits

  • There, you will see the first question: select “Yes” or “No.” Then, proceed further by answering each following question.

pnc bank virtual wallet requirements

  • At some point, you will be asked to specify whether you are an existing customer of PNC Bank or not. If you are an existing customer, then use your user ID and password in order to log in to your online banking account. If you are not an existing customer, use that field to apply for a new account.

pnc virtual wallet tools

  • Once you are done with filling out this questionnaire, you should click on the “Continue” button.
  • On the next page, you will have to tell more information about yourself, including your address, the way how you can be contacted, and your credit history. Make sure that you have filled out all the required fields. Then, click on the “Continue” again.

pnc bank virtual wallet tools

  • If you have done everything correctly, you will be allowed to make a deposit in your account. Use your credit/debit card in order to make a deposit in your Virtual Wallet from PNC.
  • Right after making a deposit, you will be able to access your Virtual Wallet account and start banking. From that moment on, you can use that account to access your Virtual Wallet each time. For the sake of convenience, you can also consider installing the mobile app (Virtual Wallet for Android and Virtual Wallet for iOS).

? PNC Virtual Wallet Login

Once you have got a Virtual Wallet account from PNC Bank, you can use it anytime on your mobile devices or on a PC/laptop. In order to take advantage of the Virtual Wallet functionality, you need log in to your account. The entire process is very quick, and this part of the article will show you how to do with ease.

This is how you can log in to your Virtual Wallet account with PNC Bank:

  • The first thing you have to do is to copy the following URL into the address line of the browser: https://www.pnc.com/en/personal-banking/banking/checking/virtual-wallet.html. Then, you should press the button of “Enter.”

log in to pnc wallet

  • After accessing the webpage of PNC Bank’s Virtual Wallet, you will notice the orange “Login” button – give a click to that button.

sign in to pnc virtual wallet

  • Following it, you will see a pop-up form – that’s the place where you can log in to your Virtual Wallet account. Start filling out the login form.

pnc virtual wallet login

  • At first, you must enter your user ID in the first field of the login form.
  • Following it, enter your password in the next field.

pnc virtual wallet sign in

  • Also, you can check the box near “Save User ID” – that will allow you to save your user ID for future sessions.

use virtual wallet by pnc online

  • Once you are ready, you can click on the “Login” button and log in to your online account. If you have done everything correctly, you will immediately access your Virtual Wallet account.
PNC Virtual Wallet
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