PNC is a solid mid-size bank, but "good" depends on what you need from a bank
PNC Bank operates over 2,300 branches across the United States and offers standard checking, savings, money market, and CD accounts. The bank does not charge monthly fees on many of its basic accounts if you meet minimum balance requirements or set up direct deposit. PNC's mobile app and online banking work reliably for most people, and the bank offers 24/7 customer service by phone.
Whether PNC is the right choice for you depends on three things: whether you live near a branch, how much money you keep in the account, and what features matter most to you. If you need in-person banking, live in PNC's service area, and want to avoid monthly fees, PNC can work well. If you bank entirely online, prefer higher interest rates on savings, or want to avoid minimum balances, other banks may suit you better.
Key Takeaways
- PNC waives monthly fees on most checking accounts if you maintain a $500 minimum balance or set up direct deposit, though the exact requirement varies by account type.
- PNC's savings account interest rates are typically lower than online-only banks offer, so you will earn less on money you keep in savings.
- PNC has branches in 27 states, so the bank is only convenient if you live or work in one of those areas.
- PNC's debit card offers fraud protection, and the bank covers unauthorized transactions, but you must report fraud within 60 days to receive full protection.
Monthly fees and minimum balance requirements
PNC's most common checking account is the Virtual Wallet with Performance Checking. It charges no monthly fee if you keep a $500 minimum daily balance or receive at least one direct deposit per month. If you fall below $500 and have no direct deposits, PNC charges $7 per month. Some PNC accounts have higher minimums—the Virtual Wallet with Preferred Checking requires $2,500 to avoid the fee.
Savings accounts at PNC also waive monthly fees if you maintain a minimum balance, usually $300 to $500 depending on the account. If you cannot maintain that balance, you pay $5 per month. The key difference between PNC and online banks is that online banks often have no minimum balance requirement and no monthly fee at all, though they pay lower interest rates in exchange for lower operating costs.
Interest rates on savings and money market accounts
PNC's savings account interest rate changes based on market conditions and the Federal Reserve's decisions. As of recent months, PNC's savings rates have ranged from 0.01% to 0.05% annually, depending on the account type and your balance. This means if you keep $10,000 in a PNC savings account earning 0.05%, you would earn about $5 per year before taxes.
Online banks and credit unions often pay 4% to 5% on savings accounts, meaning the same $10,000 would earn $400 to $500 per year. The trade-off is that online banks have no branches and limited phone support. If you keep most of your money in savings and want the highest possible interest rate, an online bank or credit union will serve you better. If you keep most of your money in checking and use savings only for emergencies, the difference in interest is small enough that PNC's convenience may outweigh it.
Branch access and ATM network
PNC operates branches in 27 states, concentrated in the Northeast, Mid-Atlantic, Midwest, and Southeast. If you live in Pennsylvania, New Jersey, Ohio, Indiana, or Florida, you have dense branch access. If you live in California, Texas, or most Western states, PNC has few or no branches, and you would rely entirely on online banking and ATMs.
PNC is part of the Allpoint ATM network, which includes over 55,000 ATMs worldwide. You can withdraw cash at most Allpoint ATMs without a fee. However, if you use an ATM outside the Allpoint network, PNC charges $3 per out-of-network withdrawal. If you travel frequently or live in an area with few PNC branches, check whether Allpoint ATMs are available near your home and workplace before opening an account.
Fraud protection and dispute resolution
PNC covers unauthorized debit card transactions under federal law, which limits your liability to $50 if you report the fraud within two business days. If you report fraud after two business days but within 60 days, your liability increases to $500. If you wait longer than 60 days, PNC does not have to refund the transaction at all. This is the same protection every bank is required to offer, so PNC is not better or worse than competitors on this front.
For checking account disputes—such as a check that was cashed twice or a deposit that never posted—PNC has 10 business days to investigate after you report the problem. The bank will usually refund the disputed amount within that time if the error is clear. If the investigation takes longer, PNC must return your money within 45 days. Keep records of deposits and withdrawals so you can prove what happened if a dispute arises.
Online and mobile banking features
PNC's mobile app and website let you check balances, transfer money between accounts, pay bills, and deposit checks by taking a photo. The app works on both iOS and Android. Most users report that the app is stable and loads quickly, though some find the interface less intuitive than competitors like Chase or Bank of America.
PNC offers bill pay at no extra charge, which means you can schedule payments to any business or person. Payments typically arrive within three to five business days. If you need a payment to arrive faster, PNC offers expedited delivery for an extra fee, though this is rarely necessary if you plan ahead. PNC does not offer peer-to-peer payment apps like Venmo or Cash App built into its platform, so you would need to use a separate app to send money to friends.
How PNC compares to other national banks
PNC is larger than most regional banks but smaller than Chase, Bank of America, or Wells Fargo. This means PNC offers more branches and services than a small local bank, but fewer locations and lower interest rates than online-only banks. The table below shows how PNC stacks up on the features that matter most:
| Feature | PNC | Chase | Bank of America | Online Bank (e.g., Ally) |
|---|---|---|---|---|
| Monthly checking fee (with direct deposit) | $0 | $0 | $0 | $0 |
| Minimum balance to waive fee | $500 | $500 | $500 | None |
| Savings interest rate (approximate) | 0.01–0.05% | 0.01–0.05% | 0.01–0.05% | 4–5% |
| Number of branches | 2,300+ | 4,700+ | 3,600+ | 0 |
| Out-of-network ATM fee | $3 | $3 | $3 | Reimbursed |
Chase and Bank of America have more branches and similar fee structures to PNC. Online banks have no branches but pay much higher interest rates and refund out-of-network ATM fees. Choose based on whether you value branch access or interest rate more.
Frequently Asked Questions
Does PNC charge overdraft fees?
Yes. PNC charges $35 per overdraft transaction if your account goes negative. The bank allows up to four overdraft fees per day. If you overdraft frequently, you can opt out of overdraft protection, which means PNC will decline transactions instead of charging a fee, though this can cause problems with automatic payments.
Can I open a PNC account online?
Yes. You can open a checking or savings account through PNC's website or mobile app without visiting a branch. You will need a valid ID, Social Security number, and an initial deposit, which can be made by transferring funds from another bank account.
What happens if I close my PNC account?
You can close your account online, by phone, or in person at a branch. PNC will not charge a fee to close the account. Any remaining balance will be sent to you by check or transferred to another account you specify. There is no waiting period.
Does PNC offer credit cards?
Yes. PNC offers several credit cards with different rewards structures, including cash back and travel rewards. Credit cards are separate from checking and savings accounts and have their own approval process and interest rates.
Is my money safe at PNC?
Yes. PNC is a member of the Federal Deposit Insurance Corporation (FDIC), which means deposits up to $250,000 per account type are protected if the bank fails. This protection applies to checking, savings, and money market accounts separately, so you can have up to $750,000 protected across three account types at PNC.