BanksPNC Bank

How To Know More About The PNC Virtual Wallet Account

PNC Virtual Wallet is a checking and savings account together, its tools that help you manage your money and make you say goodbye to surprise overdraft fees.

Knowing that everyone can have a low cash moment, don’t worry about that anymore, the PNC bank virtual wallet is here to help when you do. In respect to this, they’ve introduced Low Cash Mode which is now available for all Virtual Wallet products.

PNC bank virtual wallet makes it possible to manage your Spend account when your balance is low.

With the help of Low Cash Mode, you can use Intelligent Alerts, Extra Time and Payment Control to help you avoid overdraft fees that might occur.

In this post, I will be showing you everything you should know about the PNC Virtual Wallet account, how it works, fees, and why do you need a virtual wallet. Let’s get it started.

How does the PNC Virtual Wallet work?

The PNC virtual wallet allows you to take control of your account when your balance is low with the Low Cash Mode features that delivers real-time intelligent alerts and let you know when your balance is low.

Then, will allow you to choose whether certain transactions should be paid or returned when your balance is negative and gives you at least 24 hours to bring your account out of the negative state so you can avoid overdraft fees.

Let me say that once you open a virtual wallet account with PNC bank, you’re actually opening three different accounts; this is how it’s been break down.


PNC Virtual Wallet Spend account works similarly to a traditional PNC checking account. You can put money into the account from your paycheck and other sources. You can then spend money from the account using your debit card, checks, or bill pay services.


This account is for you to keep your short-term savings in. You might wish to put money aside for a car down payment, a nice vacation, or another large purchase.

Your PNC Virtual Wallet Reserve account allows you to keep money set aside for that aim apart from your everyday expenditures. This might help you keep track of your progress toward your objective.

It also serves as an account for overdraft protection. If you overdraw your Spend account, money will be transferred from your Reserve account at no cost to you. Hence, you’ll be able to avoid paying exorbitant overdraft fees as a result of this.


This account works similarly to a savings account in that it provides long-term cash holding. Interest will be paid on the balance in your PNC Bank Virtual Wallet Growth account, with the first $2,500 deposited earning a higher rate.

To qualify for the higher rate, you must meet one of the following criteria:

  • Make five purchases using your PNC credit card or Virtual Wallet debit card.
  • Direct deposits of $500 are available.
PNC Virtual Wallet Account

How To Manage Your Money with Helpful Tools

The PNC Virtual Wallet aspires to be a one-stop-shop for all of your financial needs, including money management.

You’ll find these useful features when you log in to your PNC Bank Virtual Wallet account. You can easily achieve this using the following:

Budget and spend wisely

Here, you’ll see calendar, money bar, then spending and budgets.

  • The calendar displays forthcoming paydays, scheduled payments, and a history of your posted transactions.
  • Money Bar shows you how much money you have set aside for bills and how much money you have available to spend.
  • Spending and Budgets allows you to categorize your purchases into categories such as “Gas” and “Restaurants,” create category budgets, and set up notifications to keep track of your spending.

Know your balance is low

This has to do with DANGER DAY and ALERTS.

  • When your Spend account is at risk of being overdrawn, a DANGER DAY displays on your Calendar so you can reduce your spending or move money from savings.
  • You can set up ALERTS to monitor your accounts for specific activity, and you can choose how you want to be notified.

Stick to your plan

This contains the SAVING RULES and SAVING GOALS options.

  • Savings Rules make saving a bit easier by allowing you to set up automated transfers to move money into your PNC virtual wallet Reserve or Growth accounts on a regular basis, such as when you are paid or pay a bill.
  • Savings goals assist you in saving for the things you want and putting money aside for the things you require. Create objectives in your Reserve and Growth accounts to save for anything from a new television to a vacation.

PNC Bank Virtual Wallet Elevated Interest Rates if You Meet Requirements

While the Spend and Reserve accounts in the PNC Virtual Wallet do not pay interest, but the Growth account does.

Interest can be earned on money in your PNC bank virtual wallet Growth account, as well as on the first $2,500 you deposit.


To qualify for the higher rate, you must use your debit or PNC credit card five times in one month or receive $500 in direct deposits.

The bad news here is that even if you match those standards, the rate you’ll receive is far lower than that of other savings accounts, particularly internet savings accounts.

PNC Virtual Wallet Monthly Fee

The PNC Virtual Wallet account has a $7 monthly fee to keep it open. You can avoid paying the fee if you match any of the following criteria:

  • Your Spend and Reserve accounts have a combined average balance of $500.
  • If YOU the account holder is 62 years old or older.
  • The account holder must show proof of enrolment in a school (institution).
  • Your Spend account will get $500 in direct deposits.

Other PNC Bank Virtual Wallet Account Fees

The monthly maintenance fee is the most common fee you’ll encounter with a checking account. This cost is charged by many checking accounts, but you may avoid it by jumping through a few hoops.

Thus, even if you can avoid the monthly price, you should be aware of the following additional fees:

PNC Virtual Wallet Fee TypeFee
Monthly Maintenance Fee$7
Overdraft Fee$36
Returned Item$36
Stop Payment$33
Deposited Item Returned$12
Domestic Wire Transfer (incoming)$15
International Wire Transfer (incoming)$15
Cashiers Check$10

To get started with the PNC virtual wallet account

To open the PNC bank virtual wallet account, you’re to select from three different Spend accounts, designed to meet your specific needs.

Below is the break down on features you’ll benefit if select any of the three PNC virtual wallet account.

PNC Virtual Wallet Requirements DetailsVirtual WalletVirtual Wallet with Performance SpendVirtual Wallet with Performance Select
Minimum to Open Online$0$0$0
Monthly Service Charge if requirements are met$0$0$0
Requirements to obtain $0 Monthly service charge$500+ monthly direct deposit to the Spend account.   OR, $500+ monthly balance in Spend + Reserve.   OR, Account holder is age 62+.$2,000+ monthly direct deposit to the Spend Account ($1,000+ total qualifying monthly direct deposits for WorkPlace Banking or Military Banking customers).   OR, $2,000+ monthly balance in Spend + Reserve.   OR, $10,000 in all PNC consumer deposit accounts.$5,000+ monthly direct deposit to the Spend account   OR, $5,000+ monthly balance in Spend + Reserve.   OR, $25,000 in all PNC consumer and/or investments accounts.

PNC Virtual Wallet Sign Up

To open a PNC Virtual Wallet account can be done with just a few steps but note that before applying for the PNC bank virtual wallet account, know that you can either APPLY for the checking only or checking and savings altogether.

Here’s how to apply for the PNC Virtual Wallet Account. To get started, follow the step-by-step guide below.

  • Go to PNC Virtual Wallet Overview Page
  • Scroll down the page and select to apply Checking Only or Checking and Savings together.
  • Click the button APPLY NOW.
  • On the next page, you’ll be asked “Are you an existing PNC customer?”.
  • Answer YES or NO using the radio button beside it.
  • Whichever you select, you’ll be asked to Apply With a Co-Applicant (it’s optional), if you intend doing so, then select the check box and click NEXT button.
  • The next page will be open and will require your PERSONAL INFORMATION.
  • Please ensure you fill in the PNC virtual wallet online application accordingly.
  • Click the NEXT button below.
  • In the next stage, you’ll be asked to REVIEW and SUBMIT. Please, do it carefully.
  • Next, accept PNC bank virtual wallet TERMS and CONDITIONS.
  • Last, START BANKING with your virtual wallet account.

How to Set up LOW CASH MODE on PNC Virtual Wallet Account

If you already have a Virtual Wallet account or have just created one following our guide, the next thing to do is to set up the LOW CASH MODE. To get this done, follow the steps here:

What is LOW CASH MODE with PNC bank Virtual Wallet Account

The PNC Virtual Wallet Low Cash Mode helps you take control of your account when your balance is low. It gives you more choice and control when your virtual wallet account balance is low or negative.

If your PNC Spend account balance falls below $0, you’ll have the option to make specific payment selections as well as additional time to restore your available amount.

Features and Benefits of PNC Virtual Wallet Low Cash Mode

The following are the features and benefits of using the Low Cash Mode on your virtual wallet account with PNC bank:

Extra Time

When your available balance is negative, you’ll have more time to fund your virtual wallet account before being charged overdraft item fees.

Here’s how you get the best out of PNC Virtual Wallet Low Cash Mode Extra Time.

  • Before you’re charged overdraft fees, you’ll have at least 24 hours to bring your available Spend account balance [1,2] to at least $0.
  • The Extra Time clock will tell you how much time you have left to get your available balance to $0.
  • Set up Extra Time alerts to remind you how much time is left even when you’re not using the app.
  • If you bring your available balance to at least $0 before Extra Time ends, you won’t be charged overdraft item fees.

Payment Control

When your balance is negative, you can opt to pay or return certain individual checks, as well as payments made using your routing and checking account numbers (ACH transactions).

It goes like this;

  • PNC bank will let you know which transactions you can monitor and decide on Payment Control.
  • You will be able to alter the expected Pay/Return status of each eligible transaction from the list of eligible transactions.

Intelligent Alerts

This is a set of alarms that will let you know when it’s time to act.

It works like this;

  • Set up your notification method: email, SMS, or push notifications.
  • Set the balance threshold for receiving alerts on your Spend account.
  • When Low Cash Mode is enabled, and you have fresh transactions that are eligible for Payment Control, you’ll receive notifications.
  • Calculate how much Extra Time you have remaining to reach a balance of at least $0.

How to using Low Cash Mode

Note that before you can use PNC Virtual Wallet Low Cash Mode, you will need to download the PNC Mobile App. This will help you set your available balance threshold, manage alerts, and review Payment Control history anytime.

To get your Virtual Wallet Low Cash Mode customized on the PNC Mobile App, see the steps below:

  • Login to your PNC Mobile App.
  • Go to profile and setting in the main navigation.
  • Select Low Cash Mode.
  • Customize your Low Cash Mode threshold and set up your Extra Time alerts.
  • View your Payment Control history as needed.
  • Set up the method for receiving alerts; email, text or push notifications.

How to close PNC Virtual Wallet account

You might be at a loss if you’re trying to figure out how to close a PNC Virtual Wallet account. This is because PNC’s website does not have easy-to-find instructions. There are a few options, according to former consumers;

  • Request the closure of your bank account through PNC’s online chat platform.
  • In person, go to a PNC branch and inform them you wish to close your account.
  • Contact PNC customer service department at 1-888-PNC-BANK (1-888-762-2265) and inquire about closing your account.

Please note, if you’re canceling a PNC bank virtual wallet account, do ensure you request a written confirmation for your records.


PNC Virtual Wallet is a patented digital tool that helps you to see what’s free to spend, stay on track with your budget and reach your financial goals. It enables you to know your balance is low, stick to your plan, then budget and spend wisely.

Leave a Reply

Your email address will not be published. Required fields are marked *