| Product Features and Discounts | Virtual Wallet | Virtual Wallet with Performance Spend | Virtual Wallet with Performance Select | Virtual Wallet Checking Pro |
|---|---|---|---|---|
| Checking with no Monthly Service Charge (MSC) | An unlimited number of accounts with no MSC for PNC employees effective 12/14/20. Available in East/West Markets |
An unlimited number of accounts with no MSC for PNC employees effective 12/14/20. Available in East/West Markets |
An unlimited number of accounts with no MSC for PNC employees effective 12/14/20. Available in East/West Markets |
An unlimited number of accounts with no MSC for PNC employees and customers. Available in Expansion Markets. |
| Savings or Money Market with No MSC | Does not apply to Standard Checking. Only applies to a Virtual Wallet Growth account |
1 linked savings or money market account (Virtual Wallet Growth account qualifies as the linked account if you have Virtual Wallet with Performance Spend) |
Up to 8 linked checking, savings or money market accounts in any combination (Virtual Wallet Growth and Reserve accounts qualify as two of the eight linked accounts if you have Virtual Wallet with Performance Select) |
Applies to Virtual Wallet Growth account |
| ATM Rebates | 2 non-PNC fee rebates |
4 non-PNC fee rebates |
No non-PNC ATM fees |
No non-PNC ATM fees |
| ATM Reimbursements of Surcharge Fees | Up to $5.00 surcharge reimbursed |
Up to $10.00 surcharge reimbursed |
Up to $20.00 surcharge reimbursed |
Up to $20.00 surcharge reimbursed |
| Paper Statement Fees | $2.00 (per account – up to $6.00 for VW) |
No Charge |
No Charge |
No Charge |
| Paper Statement with Printed Images Fees | $3.00 (VW available on Spend only) |
$3.00 (VW available on Spend only) |
No Charge |
No Charge |
| Discounted or No Fee on Checks | N/A |
$8.00 Discount |
PNC Exclusive checks at no charge OR $12.00 discount on all others |
PNC Exclusive checks at no charge OR $12.00 discount on all others |
| Debit Card Replacement Fee | $7.50 |
$7.50 |
No Charge |
No Charge |
| Safe Deposit Box Discount | No Discount |
$10.00 Discount on any size box |
Up to $100.00 Discount on any size box |
N/A |
| Cashier's Check Fee | $10.00 |
No Charge |
No Charge |
$10.00 |
| Stop Payment Fee | $33.00 |
$33.00 |
No Charge |
No Charge |
| Domestic Wire Transfers Fees (Incoming/Outgoing) | $15.00 incoming |
$15.00 incoming |
No Charge |
No Charge incoming |
| International Wire Transfers Fees (Incoming/Outgoing) | $15.00 incoming |
$15.00 incoming |
$15.00 incoming |
$15.00 incoming |
| Staff Assisted Transfer Fees | $3.00 |
$3.00 |
No Charge |
No Charge |
Changes to Employee Banking Retail Deposit Product Discounts
We are offering new employee discount options on our deposit products so you can find the best checking account for you.
PNC continually reviews its employee discount offerings to ensure that they are competitive and to encourage employees to take advantage of the PNC products that are best for them.
Effective Saturday, December 12, 2020, PNC is updating discounts available to employees on checking, savings and money market products, as well as other ancillary services.
Here's What's New
- The monthly service charge on ALL PNC checking products will now be waived for PNC employees[1],
including PNC’s premium checking products. - In addition, the monthly service charge waiver for employees applies to an unlimited number of checking products[2].
Here's What Else is Changing
- The employee monthly service charge waiver for PNC checking products will be removed from all of your accounts upon the end of your employment with PNC.
- PNC retirees and surviving spouses will not receive the monthly service charge waiver for PNC checking products unless they meet other conditions that apply, if any, to receive a monthly service charge waiver.
- There will no longer be a monthly service charge waiver on savings or money market deposit accounts for employees. If a monthly service charge waiver is otherwise available on a savings or money market deposit account, employees will need to meet the conditions that apply to obtain the monthly service charge waiver. Please note that there are some PNC checking accounts that allow you to link a savings or money market deposit account in order to avoid the monthly service charge on the linked savings or money market deposit account. Also, all of the Virtual Wallet® products are available as a bundle of accounts that include a savings or money market account as the Growth account at no additional monthly service charge.
- Discounts on the following fees and services, if any, will be based on your product, and not on your status as a PNC employee, retiree or surviving spouse (See chart below for checking product choices and associated discounts):
- Paper statement fees (with and without printed images)
- Check orders through PNC’s check vendor
- Debit card replacement fees
- Safe deposit or Express box annual fee
- Cashier’s check fees
- Stop payment fees
- Non-PNC ATM fees including other financial institutions’ ATM surcharge fees
- Wire transfer fees (domestic incoming and outgoing, international incoming and outgoing, and staff assisted)
- The monthly thresholds that must be met in order to earn the Relationship Rate on a Standard Savings, Growth or Premiere Money Market account, will be based on your checking product and not on your status as a PNC employee or retiree.
Here's What You Can Do
- To learn more about checking account options, visit the Account Pricing Center and MoneyWise — PNC's Employee Banking and Investing program — within Pathfinder.
- If you have questions regarding your account(s), contact your local PNC branch to make an appointment or call the Customer Care Center at 1-888-PNC-BANK (1-888-762-2265).
- If you are satisfied with the features of your current account, you do not need to take action.
For questions related to your account or to discuss your options
Call Us
Call 1-888-PNC-BANK (1-888-762-2265)
Meet With Us
Learn More
Why is PNC making this change?
PNC continually reviews employee discount offerings with the goal of balancing a robust product set with a simple delivery model to ensure that employees have a checking option that is best for them.
Will employee checking accounts be automatically upgraded to Performance Select Checking or Virtual Wallet with Performance Select?
No. For a number of reasons, employee checking accounts will not be automatically upgraded. If you want to upgrade your account, you will need to do so beginning December 14, 2020.
Are all employees eligible for the discount?
Contractors and employees whose residence or primary work address are outside of the US will not be eligible for the discount. All other PNC employees will receive the discount. Eligibility for the discount ends when the customer is no longer an employee of PNC.
What happens if I am out on short term, long term or military leave?
Employees on short term, long term or military leave will receive the monthly service charge waiver.
What happens if I retire after December 12, 2020?
All retiree deposit account discounts will be discontinued after December 12, 2020.
How do I know which account I am in currently and where do I find that information?
You can find this information through PNC Online Banking, the PNC Mobile app and on your statement. For assistance to determine your account type, please contact your local PNC branch or call the Customer Care Center at 1-888-PNC-BANK (1-888-762-2265).
What happens if I keep my account(s) as is?
If you do nothing or do not upgrade your account(s), the discounts you are accustomed to receiving may go away and/or you could start to incur certain service charges or fees. If you are in a Standard Savings or Premiere Money Market account, you could incur service charges if you are not meeting the requirements to waive the monthly service charge for those products.
What happens if I currently have a Virtual Wallet® with Performance Select?
You are currently receiving a checking product with premium account features and the highest level of rewards and discounts that PNC offers. As of December 12, 2020, you will receive a monthly service charge waiver regardless of whether you meet other requirements.
What are my options if I’d like to change my account?
To learn more about checking account options, visit the Account Pricing Center and MoneyWise — PNC's Employee Banking and Investing program — within Pathfinder.
Can I make changes to my account before December 12, 2020?
Any changes you make to the type of account you have before the December 12, 2020 effective date could result in the removal of current employee discounts and the assessment of fees.
I have a joint Virtual Wallet Student with my child. Am I able to upgrade that account?
You have the ability to upgrade the account. However, you should evaluate the features and benefits of each checking product to determine the option that best fits your needs. Please note that the Virtual Wallet Student product has no monthly service charge for six years from account opening and also comes with features specific to your school calendar that you may find useful.
Since the monthly service charge will no longer be waived on standalone Standard Savings and Premiere Money Market accounts as of December 12, 2020, what is the fee associated with each of those accounts?
This depends on the account selected. See the Image Pricing Detail in the PNC Bank Online section of the Consumer Schedule of Service Charges and Fees.
Are my other PNC product discounts affected?
These changes apply to PNC deposit products only.
Will my account number or routing number change if I select a different checking or savings product?
No. Your routing number and account number will stay the same if you transfer from one product type to another product type. On the other hand if you open a new account, your routing number may be different if you moved to a different market since you opened your existing accounts.
Will my statements look different if I change my checking or savings product?
No. The product name on the statement will be different but the format of the statement will remain the same.
Will my view of PNC Online banking look different?
It could, depending on the PNC checking product chosen. For example, if you move from a Virtual Wallet product to a Standard Checking account, your PNC Online Banking view could change. In addition, PNC is always looking for ways to enhance your online experience. When PNC Online Banking is updated, your view could change at that time.
I have a Minor account why am I receiving this letter?
You are receiving this letter because as signer on a minor or Fiduciary account, the account was eligible to receive employee discounts. Effective December 12, there will no longer be a monthly service charge waiver on minor or Fiduciary accounts for employees. Minor accounts will continue to be waived if eligible up to the age of 18. Employees will need to meet the conditions that apply to obtain the monthly service charge waiver on these accounts.
Important Legal Disclosures & Information
-
Contractors and employees whose residence or primary work address is outside of the United States of America are not eligible for the employee monthly service charge waiver.
-
Employees must be listed as first name or other name in the account title for any checking account to receive the monthly service charge waiver.
Employees must be listed as first name or other name in the account title for any checking account to receive the monthly service charge waiver.
Virtual Wallet is a registered trademark of The PNC Financial Services Group, Inc.
Bank deposit products and services provided by PNC Bank, National Association. Member FDIC
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