PNC Bank Virtual Wallet: Pros and Cons of PNC Virtual Wallet

Irina Tsymbaliuk
PNC Bank Virtual Wallet

Today, mobile banking and the variety of features embedded in modern digital apps hardly surprise anyone. Even in the United States, numerous providers offer convenient access to finances. One such provider is the PNC Bank Virtual Wallet.

Is PNC Virtual Wallet a good idea? This payment tool is quite popular among Americans. Yes, it’s not perfect — the sky is the limit. Still, it supports numerous third-party services and offers modern savings programs and even bonuses, although this is a somewhat conditional characteristic. So, this article focuses on the pros and cons of PNC Virtual Wallet.

Here’s an evaluation of this financial instrument, formed from various review aggregators, including ratings on mobile platform stores.




User Experience

Fees and Bonuses

Entry Threshold

Transaction Speed









The overall rating is approximately 4 stars.

Well, the rating is just an indicator of trust. So, let’s move on directly to PNC Virtual Wallet reviews and start with its features.

PNC Bank Virtual Wallet Features

How does PNC Virtual Wallet work? One critical distinction of the features of PNC Virtual Wallet lies in its regional availability. While the app, card, and services are accessible across various states in the USA, their functionality, ease of use, and service features can vary significantly by location.

PNC Virtual Wallet account review:

There are three accounts you can add to the program.

  1. Spend. You can freely use the funds stored here;
  2. Reserve. This is your “just in case” insurance, where a certain amount is kept;
  3. Growth. A debit account is designed to save a sum needed in the long term.

It all looks quite appealing and understandable.

PNC Bank Virtual Wallet Features

You will only get the wallet’s maximum potential if you reside in one of the specified states:





District of Columbia









North Carolina

New Jersey

New York

New Mexico



South Carolina





However, the specific features and bonuses will primarily depend on your ZIP code, and conditions may vary even within one state. Furthermore, Visa payment cards provided by the bank work throughout the United States and even internationally. However, in this case, you may still encounter fees.

As for bonuses, there is only one here — a welcome bonus. Here are its details in the context of the PNC Bank Virtual Wallet review:

Virtual Wallet


$500 in direct deposits

Virtual Wallet with Performance Spend


$2,000 in direct deposits

Virtual Wallet with Performance Select


$5,000 in direct deposits

Additionally, the PNC Bank Virtual Wallet APY is 1%, which is quite low compared to other services and systems offered by third-party banks.

Privacy and Security

Privacy and Security

What is a PNC Virtual Wallet security? Overall, it’s a typical online banking app that doesn’t boast any advanced security systems. Of course, solutions like two-factor authentication, Visa’s 3-D Secure, KYC, connection encryption, and API services for financial transfers are present here. However, that’s where the list ends.

In addition, the app and services adhere to PNC’s traditional privacy policy, and its digital budgeting tools store data locally (meaning if you replace your smartphone, you’ll need to manually import your statistics). The app doesn’t store savings account data and user information.

As for data transmission, the bank exchanges information with a number of partners, which affects the quality of service. However, you can opt out of this.

PNC Bank Virtual Wallet Fees

PNC Bank Virtual Wallet Fees

Apart from the PNC Virtual Wallet interest rate tracker and the pleasant features of the system, users might encounter disappointment. This is primarily due to the monthly expenses for account maintenance and servicing. Moreover, there’s also a fee for withdrawing funds outside the ATM network, which sometimes can reach significant amounts. Let’s go through everything step by step.

Monthly maintenance ranges from $7 to $25, depending on your account type and functionality. These expenses can be avoided if the account owner is over 62 years old or if they reload the card monthly with at least $500 (for the minimum level, the dependency increases to $2,000 and $5,000 per month, respectively).


  • No fee for withdrawing funds from a PNC ATM;
  • $3 fee for withdrawing funds from a non-PNC ATM;
  • 3% fee for withdrawing funds abroad;
  • 3% + $5 fee for using the card at foreign ATMs;
  • $3 fee for paper statements;
  • $36 fee for overdrafts.

There are over 60,000 PNC ATMs and terminals in the US, so it’s not definite that you’ll have to pay fees all the time. However, their concentration is highest only in the specified states, so it may be challenging to reduce your expenses outside those states.

PNC Virtual Wallet Merits and Demerits

PNC Virtual Wallet Merits and Demerits

If you’re still unsure whether to use this online banking service, let’s examine its pros and cons. Unlike other similar solutions, this system doesn’t boast any unique bonuses or features. However, it does allow users to improve their financial literacy and take advantage of online banking.


  • Three accounts in one;
  • Ability to both use funds and save them;
  • Wide network of system ATMs;
  • Bonus program that partially allows earning rewards;
  • Convenient app with extensive functionality.


  • High withdrawal fees;
  • No bonus (partner) programs;
  • High monthly maintenance fees.

Thus, we can conclude that the PNC Wallet is a rather situation-specific solution that may not suit all US users.

Final Thought

The virtual wallet from PNC doesn’t have significant bonuses or advantages, but it helps people use finances wisely. If you need an EDC solution, we recommend seeking alternatives, as the wallet’s maximum potential is unlocked within specific states, underscoring the importance of geographical location in accessing its full suite of benefits.


Should I open a PNC Virtual Wallet?

It depends solely on where you reside and how you plan to use the financial tool. If you need a reliable wallet for storing and saving money, it’s a decent choice. However, to earn rewards or cashback, consider alternatives.

I have a PNC Visa, but I want to change my Virtual Wallet. What can I do?

You can connect your card to virtually any wallet that supports the specified payment methods. However, the best way to maximize your card’s potential is through the official banking app. Explore the PNC Virtual Wallet review lists to find out more.

What are the PNC Bank Virtual Wallet costs?

If you’re a Virtual Wallet Checking Pro user (not available in all states), you aren’t obligated to make any monthly payments. In other cases, the pricing looks like this:

Virtual Wallet


$500 in direct deposits

Virtual Wallet with Performance Spend


$2,000 in direct deposits

Virtual Wallet with Performance Select


$5,000 in direct deposits