PNC Virtual Wallet® up to $400 Bonus

Available in 23 states plus the District of Columbia, PNC is back with a competitive welcome bonus for opening a personal checking account online and meeting direct deposit requirements within the first 2 months.

This is a tiered offer with the entry level Virtual Wallet® offering $100, $200 for opening a Virtual Wallet® with Performance Spend or $400 for opening a Virtual Wallet® with Performance Select - all with qualifying direct deposit requirements.

Assuming you don't have an account with PNC (and haven't within the last 90 days), we definitely recommend grabbing this easy bonus.

How To Earn The Bonus

The PNC Virtual Wallet® promotion requires you to set up eligible direct deposits in order to earn the up to $400 bonus (step-by-step breakdown is listed above!).

As with any offer, don't forget to read the fine print before opening your new account. It's where the bank will clearly state who is eligible for the deal along with any nuances you'll want to be aware of.

The fine print

• Offer is contingent on product availability and may vary based on where you open your account and the Zip code of your primary address.
• A qualifying Direct Deposit for this offer, is defined as a recurring Direct Deposit of a paycheck, pension, Social Security or other regular monthly income electronically deposited by an employer or an outside agency into the Spend account of a Virtual Wallet with Performance Select, Virtual Wallet with Performance Spend, or Virtual Wallet.
• Credit card cash advance transfers, wire transfers, person to person transfers, transfers from one account to another or deposits made at a physical PNC location or ATM do not qualify as qualifying Direct Deposits.
• New account will not be eligible for offer if you or any signer on the new account has an existing PNC Bank consumer checking account or has closed an account within the past 90 days, or has been paid a PNC promotional premium in the past 24 months.
• You can only receive one new checking account opening related bonus once every two years.
• If you change your Virtual Wallet product type after account opening, the product type that you are in at the end of the month in which you opened your account will determine your offer eligibility, terms and corresponding reward amount, if applicable.

Open a Virtual Wallet® account now to earn the up to $400 bonus

How does this personal checking offer from PNC compare?

To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:

TD Bank

Beyond Checking

Bonus

$300

Account Type

Personal Checking

Expires In

45 days

Requires

• Direct Deposit

Full Details

BMO

Smart Advantage Checking Account

Bonus

$300

Account Type

Personal Checking

Expires In

78 days

Requires

• Direct Deposit

Full Details

Fifth Third Bank

Personal Checking

Bonus

$300

Account Type

Personal Checking

Expires In

44 days

Requires

• Direct Deposit

Full Details

Why PNC Bank?

PNC Bank is the 7th largest in the U.S., with over 60,000 ATMs and approximately 2,400 physical branches across the country. This includes the former BBVA locations, which they acquired in 2021.

PNC offers "Spend, Reserve and Growth" virtual wallets. Spend is for day-to-day activity, Reserve is for short term planning, and Growth is a long term savings account. A single fee covers the trio of accounts and, like most linked accounts, it's easy to transfer money between the three (plus offers 2-layers of fee-free overdraft protection).

Ultimately, however, PNC isn't our top pick if you're shopping for a new bank. Typical of the big national brands, their interest rates are low in some markets. And while they offer online and mobile banking with all of the major features, their apps feel more dated than competitor products (and definitely more than the tech-based banks).

Learn more in our PNC Bank review

Virtual Wallet®

Virtual Wallet® is PNC's basic offering, which has its lowest (and easiest to waive) maintenance fee, but offers no interest on your balance.

All Virtual Wallet accounts come with 2-layers of overdraft protection, access to PNC's online and mobile banking tools, and in-person service in one of their branches.

Fees

Virtual Wallet® does charge a monthly maintenance fee of $7, but there are ways to get this waived:

• At least $500 in direct deposits to the account each month
• OR, maintain a $500 monthly balance in Spend + Reserve
• OR, account holder is older than 62

Virtual Wallet® with Performance Spend

At PNC, a personal checking account is called a Spend account, and is intended for day-to-day spending. It pairs with short-term planning account (called Reserve) and a long-term savings account (called Growth) to fill out your "Virtual Wallet".

Virtual Wallet with Performance Spend is PNC's middle-tier offer, which still has a relatively easy-to-waive maintenance fee, but also offers (a small amount of) interest on your balance.

All Virtual Wallet accounts come with 2-layers of overdraft protection, access to PNC's online and mobile banking tools, and in-person service at one of their branches.

Fees

Virtual Wallet® with Performance Spend does charge a monthly maintenance fee of $15, but there are ways to get this waived:

• At least $2,000 in direct deposits to the account each month ($1,000 for WorkPlace Banking customers)
• OR, maintain a $2,000 monthly balance in Spend + Reserve
• OR, maintain a monthly balance of $10,000 in all PNC consumer deposit accounts

Virtual Wallet® with Performance Select

At PNC, a personal checking account is called a Spend account, and is intended for day-to-day spending. It pairs with short-term planning account (called Reserve) and a long-term savings account (called Growth) to fill out your "Virtual Wallet".

Virtual Wallet with Performance Select is PNC's premium offer (with a matching premium maintenance fee), but offers PNC's highest interest rates on your checking balance.

All Virtual Wallet accounts come with 2-layers of overdraft protection, access to PNC's online and mobile banking tools, and in-person service at one of their branches.

Fees

Virtual Wallet® with Performance Select does charge a monthly maintenance fee of $25, but there are ways to get this waived:

• At least $5,000 in direct deposits to the account each month
• OR, maintain a $5,000 monthly balance in Spend + Reserve
• OR, maintain a monthly balance of $25,000 in all PNC consumer and/or investment accounts

Open a Virtual Wallet® before the bonus expires on January 2, 2025

Opinions expressed here are the author's alone, not those of any bank or financial institution. This content has not been reviewed, approved or otherwise endorsed by any of these entities.

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