PNC Bank Virtual Wallet® with Performance Select Checking Account

Bank, earn, save. Enjoy no ATM fees, rewards, and plenty of other perks.

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PNC Bank's Virtual Wallet with Performance Select checking account is more than just a checking account. It includes one checking (Spend), one interest-bearing (Reserve), and one savings (Growth) checking account, in addition to a variety of digital tools for better money management. With cashback rewards, no out-of-network ATM fees, and the possibility to have the monthly fee waived, this checking account is a unique offer for anyone looking for an all-in-one package with flexible, innovative financial solutions and services.

Checking account details

Checking account fees

  • Monthly Fee
    $25 (can be waived)
  • APY
    0.01% / 0.35%
  • Minimum Deposit to Open
  • Out-of-Network ATM Transaction Fee
  • Out-of-Network ATM Withdrawal Fee
  • Overdraft Fee
  • Non-Sufficient Funds Fee
  • Foreign Transaction Fee

PNC Bank Virtual Wallet® with Performance Select Checking Account FAQ

1. What is a qualifying direct deposit necessary to waive the monthly fee?

A qualifying direct deposit of at least $5,000 per month is required by PNC Bank so that they could waive the $25 monthly fee. What counts as a qualifying direct deposit is a recurring electronic deposit made by your employer or another business/organization.

Account-to-account transfers, branch deposits, ATM deposits, online, mobile or snail-mail transfers aren't considered to be direct deposits.

But, this isn't the only way to have the monthly fee waived: you can also deposit $5,000 to your Spend and Reserve accounts, as well. Or, if you have several PNC deposit/investment accounts, such as consumer checking, savings, money market, certificates of deposit, and retirement certificates of deposit/PNC Investments, you can have the monthly fee waived on the Performance Select if you keep at least $25,000 across all of your PNC accounts.

2. What are Spend, Reserve, and Growth?

Spend, Reserve, and Growth are checking, interest-bearing, and savings accounts combined into one product offered by PNC Bank. Each of these has its own features and benefits:

1. Spend: you can use Spend for daily budgeting, money management, bill pays, and more. It comes with a debit card, unlimited check writing, and free access to 9,000+ ATMs.

2. Reserve: you can use it to set money aside for anything you want - school tuition, travel, emergency, etc. Once you've saved enough for whatever you might have planned, you can transfer the money to your Spend. The Reserve savings account is also your primary overdraft protection. In case you go overdrawn with your Spend account, PNC Bank will use the funds available in your Reserve account to cover the amount.

3. Growth: you can use Growth to save money, and watch it grow over time, as this account lets you earn interest on your balance. It also offers you tools and resources that help you save more. The Growth account is also your secondary overdraft protection, in case there's not enough money in your Reserve account when and if you overdraw the Spend.

3. What happens if I close my Spend account early?

If you decide to close your Virtual Wallet Performance Select Spend account within 180 days of account opening, you will be charged a $25 early-closure fee. You will lose your Virtual Wallet. Your Reserve and Growth accounts will become stand-alone Interest Checking and Premiere Money Market accounts, respectively, and will be subject to other fees, terms, and conditions.

4. Is there a minimum amount I need to deposit in Reserve and Growth accounts?

Is there a minimum amount I need to deposit in Reserve and Growth accounts?

5. How can I qualify for a higher variable relationship rate on my Growth account balance?

There are two ways to get higher interest rates on your Virtual Wallet Performance Select Growth account. You can either

  • make at least 5 qualifying debit or credit card transactions (cash advances and ATM transactions don't qualify), OR
  • have at least $5,000 in qualifying direct deposits in your Spend account.

Note that any qualifying transaction or deposit has to be made during the previous month.

Also, remember to link any account of yours to your Virtual Wallet Performance Select if you want to receive relationship rates, and benefits that apply to all your PNC accounts - PNC Bank won't do it automatically!

6. What is PNC ExpressFunds?

PNC ExpressFunds is a payable service offered when you want to deposit a check at an ATM. PNC ExpressFunds make your funds available faster, so, in case you need to access your money urgently, you might want to consider this option. However, even if you decline in when depositing a check, you will still be able to make your deposit.

7. What is PNC Purchase Payback®?

PNC Purchase Payback® is a customized rewards program that lets you earn rewards on your purchases, based on your shopping habits, and preferences. Via either Online Banking or PNC Mobile app, you'll be able to access, choose, and activate offers that best suit your needs, and earn either cash or points when you pay for eligible purchases using your PNC Visa debit card. Redeemable rewards will be then credited to your account, and visible in the PNC Rewards Center.

8. What is PNC Pay®?

PNC Pay® is a fast and convenient way to pay for your purchases available in the newest Android version of the PNC Mobile app. PNC Pay® stores your card number digitally, so you can use your Android device for any in-store payments at merchants equipped with NFC contactless payment terminals. You'll even be able to pay with rewards earned through PNC Purchase Payback®!

9. What do I need to send money with Zelle®?

To send money with Zelle®, you need to have a PNC Virtual Wallet or a PNC Personal Checking account, a PNC Online Banking User ID (received when you enroll in Online Banking), and a PNC Mobile app/ PNC Virtual Wallet App installed on your device. 

To send money to someone, you will only need a person's email address or mobile phone number. The receiver doesn't have to have an account with PNC Bank, but with any U.S. bank that partners with Zelle®.

10. Is PNC Bank Virtual Wallet® with Performance Select Checking Account FDIC-insured?

Yes, PNC Bank is a member of the FDIC, so your accounts are insured to up to $250,000.

Check Out Other Products From PNC Bank
Bank Monthly Service Charge Minimum Deposit to Open APY
PNC Bank Virtual Wallet® with Performance Select Checking Account $25 (can be waived) $25 0.01% / 0.35%
PNC Bank Virtual Wallet® with Performance Spend Checking Account $15 (can be waived) $25 0.01% / 0.10%
PNC Bank Virtual Wallet® Checking Account $7 (can be waived) $25 0.01% / 0.05%
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