PNC bank is offering up to a $300 bonus for those who sign up for its Virtual Wallet. On top of the bonus, there are no monthly fees with qualifying direct deposit. You can also get bonus rewards when you link your PNC Visa® Credit Cards to your account.
Here’s a direct link to the offer, which currently expires May 31, 2019.
PNC Virtual Wallet Bonus
The bonus comes in two tiers depending on the type of account you open.
Virtual Wallet with Performance Spend
- Open a new Virtual Wallet with Performance Spend
- Establish a qualifying direct deposit of $2,000 or more to your new account
- Make at least 10 purchases with the PNC Bank Visa Debit Card linked to your new account.
- Get $200* deposited to your account
Virtual Wallet with Performance Select
- Open a new Virtual Wallet with Performance Select
- Establish a qualifying direct deposit to your new account
- Make at least one payment with a PNC Online Bill Pay
- Get $300* deposited to your account
As with any bonus offer, the terms can change at any time, so be sure to check out PNC’s website for details. Also, from the website here are the details about this offer:
*New personal checking account must be opened online via the above “Open an Account Online” link or at a branch using the appropriate coupon between 2/1/2015 to 3/31/2015. To qualify for the $300 reward, a qualifying Direct Deposit must be received, and one (1) payment must be completed via PNC Online Bill Pay within 60 days of account opening. Your checking account must remain open in order for you to receive the $300 reward, which will be credited to the eligible account within 60 – 90 days after all conditions have been met and will be identified as “Cash Trans Promo Reward” on your monthly statement. A qualifying Direct Deposit is defined as a recurring Direct Deposit of a paycheck, pension, Social Security or other regular monthly income electronically deposited by an employer or an outside agency into the Spend Account of a Virtual Wallet® with Performance Select. The total amount of all qualifying Direct Deposits credited to your checking account must be at least $5,000. Credit card cash advance transfers, transfers from one account to another or deposits made at a branch or ATM do not qualify as Qualifying Direct Deposits. Offer only available to new PNC Bank checking account customers who open the Eligible Account using the online application. New account will not be eligible for offer if any signer has signing authority on an existing PNC Bank consumer checking account or has closed an account within the past 90 days, or has been paid a promotional premium in the past 12 months. If multiple accounts are opened with the same signers, only one account will be eligible for the premium. For this offer, signing authority will be defined by the customer name(s) and social security number(s) registered on the account. Offer only available to residents of AL, DC, DE, FL, GA, IL, IN, KY, MD, MI, MO, NC, NJ, NY, OH, PA, SC, VA, WI and District of Columbia. Offer may be extended, modified or discontinued at any time and may vary by market.
What the Heck is Virtual Wallet?
Glad you asked. PNC has introduced online money management tools to help customers track spending, manage money, and budget.
From the PNC website, Virtual Wallet helps you spend, reserve, and grow your money:
SPEND is your primary checking account. It’s designed mainly for your everyday living and spending. With it you are required to receive a brand new Virtual Wallet Visa® Debit Card that you can use to make purchases (these purchases are deducted from your Spend account) or withdraw money at ATMs from any of your accounts. Your Spend account is what you’ll use to pay bills by check or through Online Bill Pay, as well as to make your daily, weekly (and weekend) purchases. Best of all, it works in harmony with your Reserve account.
RESERVE Account is for your short-term savings. And it also functions as your primary Overdraft Protection account – so if you’re at risk of overdrawing your Spend account (a Danger DaySM), money can be automatically transferred from your Reserve to your Spend, free of charge. Utilizing your reserve account is a great way to save up for things like a laptop, a sofa, a new mattress, a digital camera, etc. Bigger purchases, such as a house or even a honeymoon, can be saved up for in your Growth account.
GROWTH Account is your long-term savings account. It also acts as your secondary Overdraft Protection. The competitive interest rate* makes it perfect for you to build your nest egg and grow financially. Put money into your Growth account to save up for bigger, life-changing purchases down the road – a car, a down payment on a house, or to help pay off college loans. Best of all, you won’t need to use another bank for a high-interest savings account – with Virtual Wallet, you have it all in one place.
Its tools also help you simplify your financial life. Again from the PNC website:
Calendar – It’s more like a digital assistant that simplifies your banking needs. You’ll see everything in one place — from what you’re spending and making, to scheduled bill reminders, upcoming payments and balances.
Money Bar® – Get a bird’s eye view of what your money’s up to. The Money Bar puts it all into three categories: Scheduled Out (the money allocated for bills and other payments), Free (money that’s available to spend), and Reserve (the money you’ve tucked away).
PNC Online Bill Pay – helps you stay on track. Bills are integrated with the Money Bar® and the Calendar, so you know how much money is set aside and when it’s on the way out.
Spending Zone – Spending Zone’s SpendologySM tools provide a simple way to see what you’re spending your money on each month – and get a hold on it. Broken down into categories like Education, Restaurants, Gas and more, it allows you to set a budget for each.
Mobile Banking – PNC Mobile Banking lets you bank from your iPhone®, Android™ or other supported mobile device (tablet included), no matter where you are or what time it is. With the mobile deposit feature, you can even deposit money on the go.
Danger DaySM – Color-coded in red (so you won’t miss it), it shows up on your Calendar when your Spend account is at risk of being overdrawn.
PNC Virtual Wallet Details
- Fees: $7, although this fee can be waived based on the type of account and monthly usage.
- Credit Pull: Soft Pull from ChexSystems
- Minimum Deposit Requirement: $25 minimum deposit to open an account.
- Availability: Alabama, District of Columbia, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Michigan, Missouri, North Carolina, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Virginia, Wisconsin, West Virginia.
- ATM Network: 7,200 surcharge-free ATMs
- Routing (ABA) number: 031001175
- Established: 1804
- FDIC certificate: 6384
- Phone Number: 888-PNC-BANK
You can check out the bonus offer at PNC’s website.