PNC Bank Virtual Wallet® with Performance Spend Checking Account

Watch your money grow while enjoying plenty of banking and money management tools!

securely on the bank's website

The PNC Bank Virtual Wallet® with Performance Spend Checking Account is a checking account combining a checking (Spend), interest-bearing (Reserve), and savings (Growth) account into one flexible money management solution, with many digital tools to help you track your budget, expenditure, savings, and more!

Unlike the Performance Select checking account, the Performance Spend has out-of-network ATM fees, which vary depending on the country you're using ATMs in, but you do get 4 free out-of-network ATM uses, and free access to almost 9,000 PNC's ATMs.

Interest rates in this offer are somewhat lower than with the Performance Select, and go up to 0.10%. So, if you're looking for a better interest-bearing checking account offer, go with the latter.

Checking account details

Checking account fees

  • Monthly Fee
    $15 (can be waived)
  • APY
    0.01% / 0.10%
  • Minimum Deposit to Open
  • Out-of-Network ATM Transaction Fee
    $3.00 (in the U.S., Canada, Puerto Rico, and the U.S. Virgin Islands); $5 in other countries
  • Out-of-Network ATM Withdrawal Fee
    $3.00 (in the U.S., Canada, Puerto Rico, and the U.S. Virgin Islands); $5 in other countries
  • Overdraft Fee
  • Non-Sufficient Funds Fee
  • Foreign Transaction Fee

PNC Bank Virtual Wallet® with Performance Spend Checking Account FAQ

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

A qualifying direct deposit of at least $2,000 per month is required by PNC Bank so you don't have to pay the $15 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.

* The amount of required monthly direct deposits is reduced to $1,000 for WorkPlace or Military Banking customers.

Another ways to have the monthly fee waived for the PNC Virtual Wallet Performance Spend include keeping a $2,000 combined average monthly balance in your Spend and/or Reserve accounts, OR a $10,000 combined average monthly balance across linked PNC Bank consumer deposit accounts. (Just remember to link your PNC Bank accounts to your Performance Spend, as it's not done automatically by the bank.)

2. Do I need to make the $25 minimum opening deposit?

If you open your PNC Bank Virtual Wallet with Performance Spend online, you don't need to make the $25 deposit.

3. 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.

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

No, there aren't any requirements for either of the two accounts. You can deposit as much as you want.

5. How can I earn higher interest rates?

To benefit from relationship rates on your Growth account, you would need to make 5 or more qualifying purchases in a month using your linked consumer Visa® Debit Card and/or PNC consumer credit card, or have a qualifying monthly direct deposit of at least $2,000 ($1,000 for PNC WorkPlace Banking® or Military Banking customers) for Virtual Wallet with Performance Spend.

If you meet the requirements, you'll earn better rates the following month. Remember to link your accounts/cards to your PNC Virtual Wallet with Performance Spend, because PNC Bank won't do it automatically.

6. What is PNC WorkPlace Banking®?

PNC WorkPlace Banking® is a PNC Bank program, created for businesses looking to offer their employees unique banking benefits, including resources, financial wellness workshops, financial education programs, and certain offers on banking products.

7. How do I earn rewards through PNC Purchase Payback®?

With PNC Purchase Payback®, you can earn rewards on eligible purchases each time you pay for them using your PNC Bank Visa® Debit card, and/or your PNC Cash Rewards® Visa® credit card, and/or a PNC points® Visa® credit card. You can earn either cash back or points, depending on each offer.

The program requires no prior enrollment, but you need to be signed in to your Online Banking or Mobile app account to be able to view, select, and activate offers. These are based on your shopping habits, and preferences, which means you'll earn rewards on things you'd buy anyway, instead of spending unnecessarily on things only to earn something in return.

There aren't any enrollment fees or limits to the number of offers you can use. You can check your rewards information in the PNC Rewards Center available in PNC Online Banking.

8. What kind of PNC Bank Visa Affinity debit cards are there?

You can show your support for a sports team, university, military or another cause by requesting a PNC Bank Visa affinity debit card, regardless of which checking account you have.

Each of these debit cards come with special benefits you can enjoy, including discounts, and special rates.

9. Why does the USA Flag Visa Debit Card have an annual fee?

The USA Flag Visa Debit Card is a specialty card that comes with a $5 annual fee. This is because those $5 are donated to the American Red Cross.

10. Is PNC Bank Virtual Wallet® with Performance Spend 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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