*For purposes of the EVERFI/PNC partnership, a teen is defined as a high school student who is 14 – 17 years old.
Money Matters:
A Student’s Guide to a Bright Financial Future
Benefits of Starting Early
PNC in partnership with EVERFI is committed to providing students the right financial education to help them develop practical money management skills that they can apply in the real world.
To put this education into practice, we recommend taking the next step by opening a bank account while in high school. Reasons to consider opening a bank account:
- Establish basic financial skills, including how to budget, make ATM withdrawals, and use a debit or banking card.
- Ability to conveniently direct deposit checks for a summer or part-time job.
- Develop accountability with a parent or guardian co-signer who has the ability to monitor account activity.
Prepare to Bank as a Student
Learn important terms for opening a bank account as a student.
A checking account requires some financial responsibility and can teach you how to balance an account, keep track of spending limits, and more. Typically, these accounts have no limit on the number of withdrawals you can make per month. Many teen* checking accounts come with a debit card, ATM access, mobile and/or online banking, and provide the co-owner with spend tracking and alerts, and the ability to transfer funds to the teen's* account.
Like checking accounts, savings accounts typically offer easy access to your money. But unlike many checking accounts, savings accounts also help your money grow thanks to the interest you can earn.
A joint bank account is a checking or savings account that is owned and controlled by two or more people. Any of the account's owners can make deposits into and withdrawals from the account. In many cases, everyone included in a joint checking account receives a debit card to make purchases and access the account through an automated teller machine (ATM). When you are a co-owner of a joint bank account, you don't need the consent of the other owners to conduct any transactions using funds from the account. With a joint bank account, a teen* can make purchases and deposits on their own. However, it also allows a parent or guardian co-owner to keep tabs on the account balance and transactions.
Custodial savings accounts for minors (UTMA) can be opened and managed by the parent, legal guardian, or other adult (as the custodian), on behalf of a minor (the beneficiary). Only the custodian can make deposit or withdrawal from the account, on behalf of the beneficiary. The custodian is responsible for managing the funds before the beneficiary reaches a certain age (age of majority) as defined by their state, which ranges from age 18-21. Once the beneficiary reaches that certain age in their state, the custodian is responsible for transferring the funds to the beneficiary and closing the custodial account.
What We Offer
PNC offers banking solutions to support teens* from high school and beyond.
Checking & Savings
PNC's Virtual Wallet Student® is a combined checking and savings account
designed for students age 14 and older.
Benefits
Open a new Virtual Wallet Student and get the following benefits:
- A PNC Bank Visa® Debit Card with optional customization for military, sports teams, universities and more. Explore Custom Debit Cards
- Spend and Reserve checking with a Growth Savings account all together.
- No monthly service charge for six years.[1]
- One automatic courtesy refund of any Overdraft Item fees associated with the first overdraft event on your spend account.[2]
- Free Mobile[3] and Online Banking[4] to manage your money how and when you want.
- Students and parents can sign up to receive account alerts when balances are low.
Benefits of Banking with PNC
Convenient Locations
Take advantage of more than 2,300 locations and approximately 60,000 PNC and Partner ATMs coast to coast.[5]
Low Cash Mode®[6]
Low Cash Mode in the PNC mobile app helps you avoid overdraft fees and take control when your balance gets low or negative.
Zelle®[7]
Zelle in the PNC Mobile App allows you to quickly send and receive money from people you know and trust.
Standard Savings
Ready to jump start good saving habits? A PNC Standard Savings Account
makes it easy and convenient to start saving.
Benefits
Open a new Standard Savings Account with the following benefits:
- No monthly service fee or minimum balance if you are under 18 years old.
- No ATM fees at PNC ATMs.
- Unlimited deposits and up to 6 withdrawals per month.[8]
- Auto Savings tool that allows you to establish a recurring savings routine.
- FDIC insured to the maximum permitted by law.
Get Started
PNC makes it easy.
Ages 18+
Apply online or schedule an appointment in a branch. An adult co-applicant over 18 is not required, but many students still choose to have one.
Ages 14-17
Apply online or schedule an appointment in a branch. Either way, an adult co-applicant over 18 is required.
Under 14
Schedule an appointment in a branch to apply with an adult co-applicant over 18.
Know What Information Is Needed
Applicants will need their Social Security number. If you are 18 years or older you will also need a valid U.S. Driver's license, State ID, or Military ID for verification.
Additional forms of ID may be accepted when applying in-branch. Contact your local branch if you have questions about acceptable forms of identification.
Non-U.S. citizens who do not have a Social Security number can apply in person at a PNC branch and provide:
- A valid passport with a photograph, along with a photocopy of your passport
- A second form of ID, which can be your U.S. student visa or your U.S. student photo ID
Webinar Registration
Budgeting for Parents and Students
Watch an informative webinar that outlines a 5-step approach to creating a budget and learn how to balance between needs and wants to achieve financial stability.
Banking Basics for Parents and Students
Watch an informative webinar that will help you understand and compare different banking options. Learn how to choose the right banking relationship, account, and service for your life.
Funding a College Tuition for Parents and Students
Watch an informative webinar that will help you understand costs associated with various levels of higher education, financial strategies that align with family goals, and how to create an action plan to help fund a college tuition.