PNC Bank Virtual Wallet® Student Checking Account

Student banking par excellence:

  • rewarding accounts,
  • digital banking tools,
  • plenty of free perks,
  • useful money management resources.

securely on the bank's website

Virtual Wallet® Student Checking Account is a checking (Spend), interest-bearing (Reserve), and savings (Growth) account designed for students looking for a good checking account offer that comes with digital tools, online and mobile banking solutions to help them manage their money, learn about personal finances, and even earn rewards on their purchases, and interest on their balance.

With a few special student perks, such as one overdraft or non-sufficient-funds fee reimbursed, PNC's Student Banking Academy, and the option for parents to also receive low-balance alerts, this checking account offer might be a great solution for young people.

There is no monthly fee for the first 6 years of account opening, after which the account converts to a Virtual Wallet one.

Checking account details

Checking account fees

  • Monthly Fee
  • APY
    0.01% / 0.05%
  • 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® Student Checking Account FAQ

1. What information do I need to provide to open a Virtual Wallet Student Checking Account?

PNC Bank will ask you for your name, address, date of birth, and other relevant information necessary to identify you. If you're applying online, you'll need to provide a government-issued ID with your photo or a driver's license for identity verification.

You also need to be at least 16 years old to apply. If you're younger than 18, you'll need a co-applicant who is 18 or older

2. Can I apply for a Virtual Wallet Student Checking Account if my school isn't listed?

Even though PNC Bank has partnered with hundreds of schools, it might happen you can't find your institution on the list. If that's the case, you'll still be eligible to apply for a Virtual Wallet Student checking account.

3. Do I need to meet the $25 minimum opening deposit requirement?

If you open your Virtual Wallet Student checking account online, the minimum opening deposit for the Spend account won't be required.

4. Does Virtual Wallet Student have a minimum balance requirement?

No, Virtual Wallet Student has no minimum balance requirements, and you can keep as much money in your Virtual Wallet Student account as you want.

5. 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.

6. Is there a minimum amount I must deposit in Reserve and Growth accounts?

No, neither Reserve nor Growth account has a minimum deposit required to open a Virtual Wallet Student checking account.

7. What happens if I transfer my Virtual Wallet Student to another PNC Bank checking account during the first 6 years?

If you switch to another PNC Bank checking account product during the first 6 years of Virtual Wallet Student account opening, you will lose all the benefits of the Virtual Wallet Student checking account, and won't be able to transfer back.

Keep in mind that, after the 6-year period, your Virtual Wallet Student checking account will be automatically transferred to a Virtual Wallet account anyway, so think twice before switching - mostly because of the applicable fees!

8. Do I need to do anything to avoid paper statement fees?

PNC Bank offers both electronic and paper statements to Virtual Wallet Student Checking accountholders free of charge.

If you don't want to receive paper statements, you don't need to think about turning them off yourself when you open your Virtual Wallet Student Checking account. You will be automatically enrolled for online statements the first time you sign in to your Online Banking account. However, you'll still be able to opt for paper statements, if you want to receive them after all.

9. What is PNC My Finance Academy?

PNC's My Finance Academy includes educational content, such as articles, videos, and podcasts, created to help students learn about finances, how to manage their budget, and make smart financial decisions. Students can use the Student Banking resources to build good banking habits, set financial goals, and organize their spending to reach those goals.

10. How does PNC Purchase Payback® work?

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.

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%
These Checking accounts might also interest you
Bank Monthly Service Charge Minimum Deposit to Open APY
Comerica Bank Rich Rewards® Checking Account $18 (can be waived / reduced) $50 0.01%
Comerica Bank Premier Checking Account $22 $50 0.01%
Comerica Bank Comerica Platinum Circle Checking® $0 $50 0.10% / 0.25%