Pnc Growth Account Interest Rate

What Banks Dont Charge Monthly Fees

Best no-fee checking accounts

• Best overall: Capital One 360® Checking Account.
• Runner-up: Ally Interest Checking Account.
• Best for rewards: Discover Cashback Debit Account.
• Best for out-of-network ATMs: Alliant Credit Union High-Rate Checking Account.
• Best for students: Chase College Checking Account.

Alternatives To Pnc Checking Accounts

Check out offers at other banks if youre not certain a PNC checking account is the best fit for you and youre comfortable with online banking. Online banks and fintech startups, called challenger banks, are options if you dont need a branch location.

Credit unions are another option, especially those with lenient membership requirements. Bankrates list of the best credit unions ranks them based on selection of products, APYs offered, mobile features and fees. Some banks offer high yields on checking accounts, if you maintain a set minimum balance and meet other account requirements.

Pnc Bank Variable Rate Cd

PNC Banks Variable Rate CD earns at a rate dependent on the three-month Treasury bill. The bank bills this as an opportunity for peace of mind when saving, knowing that your rate will climb with the Treasury bill.

All PNC Bank Variable Rate CDs come as an 18-month term. When it matures, you can withdraw your funds or leave it alone to renew for another 18 months. You will have to call the bank to open a Variable Rate CD.

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Virtual Wallet With Performance Spend

The checking account with Virtual Wallet with Performance Spend is interest bearing, paying 0.01 percent APY on balances of $2,000 and up.

There is no minimum opening deposit if Performance Spend is opened online its $25 if opened in a branch. The $15 monthly fee is waived if one of these conditions are met:

• Make $2,000 in direct deposits to your Spend account each monthly statement period.
• Keep an average monthly balance of $2,000 in checking and/or Reserve accounts.
• Maintain a combined balance of $10,000 in PNC deposit accounts.

There is more fee forgiveness with this account than there is with basic checking. The bank reimburses for up to two non-PNC ATM transactions per statement period and up to $5 in other banks ATM surcharges.

A number of other fees are waived for the Performance Spend account services, including paper account statements, redepositing returned items and check images.

Pnc Bank Virtual Wallet Account 2023 Review

PNC Bank Virtual Wallet

Your search for a new checking account has led you to PNC Bank, one of the many options available.

Its Virtual Wallet account is one that you may be interested in — but it isn’t like the rest.

In this review, we break down the key highlights of this unique account that delivers your traditional checking account needs in addition to a touch of smarter money management.

Find out:

• How it can help you manage money better
• All the fees involved
• The factors that you should consider when picking any checking account

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Pnc Bank Virtual Wallet Review

• Annual Percentage Yield

• Varies depending on Virtual Wallet account

• Monthly fee

  Ranges from $7 to $25 depending on Virtual Wallet account, with options to waive

• Maximum transactions

  Up to 6 free withdrawals or transfers per statement cycle

• Excessive transactions fee

• Overdraft protection offered by your Reserve and Growth accounts

• Offer checking account?

See our methodology, terms apply.

Pros

• New account holders can earn a welcome bonus of up to $200
• Virtual Wallet includes individual checking and savings accounts that work together
• Earn cash or points through PNC Purchase Payback® program
• Reimbursable non-network ATM fees
• Account holders can choose the Virtual Wallet best for them
• Options to waive monthly maintenance fee
• Higher APY relationship rates are available
• Up to 6 free withdrawals or transfers per statement cycle

Cons

How Can I Save More Money With A Pnc Bank Account

At a base level, PNC Bank doesnt offer the highest interest rates when it comes to savings accounts. However, there are a couple different ways to save more money with a PNC Bank Account. For one, you can make a larger deposit toward accounts that have balance tiers to earn at a higher interest rate. Linking certain bank accounts together can also unlock higher interest rates. There are even levels of accounts that you can link so as to get the highest rewards and interest rates. Plus, if you have a high account balance and linked accounts, youll be earning at the highest rates possible .

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Pnc Bank Business Checking Account Bonus: Earn Up To $500

PNC offers four levels of business checking, differentiated primarily by how many fee-free transactions are offered each month.

• If you only need the basics, the PNC Business Checking account offers up to 150 transactions per month for a $10 monthly account maintenance fee.
• If your business requires more transactions, the PNC Business Checking Plus offers 500 transactions for a $20 monthly fee.
• For larger businesses, thereâs the PNC Treasury Enterprise Plan, which includes 2,500 transactions per month and up to four additional checking accounts for a $50 monthly maintenance fee.
• Thereâs also the PNC Analysis Business Checking account, which offers the option to pay only for the banking services you use each month.

Welcome bonuses are restricted to businesses with annual revenues of less than $5 million. PNC Bank does not mention any geographical restrictions.

Pnc Bank Savings Account: Pnc Standard Savings

This account from PNC Bank lives up to its name by providing a standard and simple approach toward savings. It is advertised as the account that can help you reach your savings goal, whether thats an emergency fund or for a special gift. Plus, youll have access to financial education tools and resources to help you better understand and manage your money.

This account doesnt earn at the most competitive interest rate. Its important to double check your exact interest rate, too, since the banks rates can change by location. You do have the opportunity to boost your rate slightly by linking a PNC checking account to your savings account. You will also have to set up a qualifying monthly direct deposit to the linked checking account or make at least five qualifying purchases each month with your debit card or PNC Visa® credit card. Be sure to check your agreements to know exactly what you need to do to snag the rate boost.

Also Check: High Interest Rate Checking Accounts

How The Pnc High Yield Savings Account Compares

When compared to the 215 Savings Accounts and 191 Money Market Accounts that are nationally available with minimum balance requirements of $10k and under, the PNC High Yield Savings Account ranks first.

The above rates are accurate as of 11/13/2018.

To compare the top Savings and Money Market account rates, both nationwide and state specific, please refer to our Savings Account Rates Table and our Money Market Account Rates Table.

Important Legal Disclosures & Information

Read Also: How Much Interest Does $1 Million Dollars Earn Per Month

What Does Pnc Bank Offer

As you might expect from one of the largest financial institutions in the U.S., PNC Bank boasts a wide swath of financial products and services:

• Savings account
• Virtual wallets
• Certificates of Deposits

Interestingly enough, PNC’s online-only offerings in states where it doesn’t have branches are actually better than in the states where it does have brick-and-mortar locations.

Whats The Process For Opening An Account With Pnc Bank

You can open just about any PNC Bank account that you would like on the banks website. Its as simple as clicking an APPLY NOW button for the account you would like to open and finding yourself on the first page, shown here. You will need to enter your zip code on the website to find the most accurate list of accounts available to you depending on your location. You may have to call the bank at 1-800-762-5684 to open certain accounts.

The application process will typically take around 10 minutes to complete. To apply, youll need to provide personal information like your government issued photo ID, Social Security number, date of birth and addresses. Youll also need to provide existing account information in order to make your initial account deposit.

To apply for a Fixed-Rate CD or Ready Access CD, you will need to print out the contact forms provided on the website to send to the bank. With IRAs, it may also be easier to visit a branch. That way, you can have all the paperwork and terms and conditions in front of you and explained to you.

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Pnc Bank Virtual Wallet

An important product in PNC Banks offerings is its Virtual Wallet®. This combines various tools to help you spend, save and grow your money. When you open a Virtual Wallet®, your accounts and tools are all kept in one place with easier ways to manage your funds, whether thats making transfers or paying pills. The Virtual Wallet® page, shown here, outlines and visualizes everything that goes into your wallet.

The Spend function is essentially your primary checking account. This will track your purchases and ATM transactions. Youll also use spend to pay any bills. Reserve is your wallets short-term savings account. This helps with overdraft protection and upcoming expenses. You can transfer money from Reserve to Spend at no charge. Growth is the third main account, which is your long-term savings account. This can serve as your second line of overdraft protection, but is also perfect for saving for retirement, a car, a home and more. Lastly, you can choose to add a PNC Credit Card to your Virtual Wallet®. This account isnt mandatory or automatically included, but it does provide added perks to your PNC Credit Card.

There are a few different Virtual Wallets you can choose from. The basic Virtual Wallet comes with the Standard Checking account. You can earn cash through PNC Purchase Payback and bonus rewards on your PNC points® Visa Credit Card.

Online And Mobile Banking

Again:

This is an online-only high-yield savings account.

So you need to be in a position to manage your account digitally. PNC Bank makes this easier with its digital banking tools.

Whether you prefer online banking or mobile banking, youre able to seamlessly and conveniently manage your account from any location 24/7.

Once youve opened your savings account:

• sign up for online account management.
• bookmark the website to your computer.

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How Does The Growth Account Work For Pnc

Growth This account functions just like a savings account, offering long-term storage for cash. Youll earn interest on the balance in your Growth account, with an elevated interest rate for the first $2,500 you deposit.

What is the interest rate on PNC growth account?

Growth

Can I withdraw from PNC growth account?

We withdraw funds from your account on the day an item is presented to us or when we are notified that an item drawn on your account, such as a check, has been deposited in another financial institution. You may use your debit card for ATM transactions and to purchase goods and services.

Is PNC growth a checking or savings account?

Reserve a second checking account for short-term planning. Growth long-term savings account with our best savings rate plus an additional relationship rate when you meet certain requirements on select Virtual Wallet products.

How much interest will I get on $1000 a year in a savings account?

How much interest can you earn on $1,000? If youre able to put away a bigger chunk of money, youll earn more interest. Save $1,000 for a year at 0.01% APY, and youll end up with $1,000.10. If you put the same $1,000 in a high-yield savings account, you could earn about $5 after a year.

Pnc Bank Bonuses Are For New Customers

PNC Bank offers account welcome bonuses only to new customers who do not have an existing account with the bank and have not recently closed an account. Additionally, PNC limits how frequently you can receive a new customer bonus.

Personal checking customers must not currently have a PNC Bank consumer checking account and must not have closed an account within the past 90 days. Additionally, personal customers are only eligible to receive one PNC promotional premium every 24 months.

Likewise, business banking customers must not have an existing PNC Bank business checking account and must not have closed a business checking account within the past 90 days. Business checking account customers are eligible to receive a promotional premium once every 12 months.

These restrictions apply to all account signers, so if any business partner on the account is already a PNC customer or has received a welcome bonus recently, the account may not be eligible to receive a welcome bonus.

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Why Do You Need A Chimney Pot For A Chimney

Chimney pots give the opening on the chimney extra coverage to keep out debris from trees like leaves, acorns, and sticks, while also protecting the interior of the chimney from rainfall, snow, ice buildup, and small rodents or birds that find their way inside chimneys to make nests and seek shelter.

Is Mobile Wallet Safe

Safety tips for using mobile wallet While mobile wallet transactions are safe because information transferred is encrypted and useless to a fraudster, the information stored within the mobile wallet itself is sensitive. Therefore, keeping your phone safe and protected is the key to using mobile wallets safely.

How can I use wallet money?

Follow these simple steps to transfer your money from Paytm to your bank account

How can I spend my PhonePe wallet money?

You just need to enter a receivers mobile number/VPA and send him/her money within seconds. You can also use the PhonePe app to pay your postpaid and utility bills as well as recharge your prepaid mobile number, data card, and DTH. You can also check your bank account balance or scan QR codes to pay!

What is a money wallet?

What is a mobile money wallet? A stalwart companion to tradition leather wallets, a mobile wallet protects your money in an entirely secure way. It stores payment details, for example, credit or debit cards, and cash balances, which can then be used to make payments.

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Elevated Interest Rates If You Meet Requirements

The Virtual Wallets Spend and Reserve accounts dont offer any interest, but the Growth account lives true to its name.

You can earn interest on the money in your Growth account, and additional interest on the first $2,500 you deposit.

Again:

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

The bad news is that the rate youll earn, even if you meet those requirements, is much lower than the rate youll get from other savings accounts, especially online savings account.