PNC Bank review 2023

PNC Bank is one of the largest financial services institutions in the U.S., with assets of $557 billion (as of Sept. 30, 2023) and a presence in the country’s 30 largest markets. 

Its product lineup includes personal banking accounts, mortgages, auto loans, student loans, credit cards, and wealth management services. The bank serves customers and small businesses through a network of about 2,300 branches and 60,000+ fee-free ATMs, plus online and mobile banking platforms. 

The best banks offer low fees, competitive rates, and great customer service. As other PNC Bank reviews mention, PNC Bank charges more fees than some online banks, and its best savings rates are only available to customers in certain states. 

Still, PNC Bank has a reputation for providing excellent customer service, with in-person banking, flexible phone support, and an A+ rating with the Better Business Bureau. 

Read our PNC Bank review to decide whether the bank might be a good fit for you.  

• Network of 2,300 branches across 28 states and the District of Columbia
• 60,000+ fee-free PNC and partner ATMs
• Excellent customer service
• Highly rated mobile app 
• Community and economic development initiatives

• $36 overdraft fee
• Low rates on most deposit accounts
• Higher fees than some online bank charge (though you can avoid many)

• $0 minimum opening deposit online and $25 at a branch.
• $7, $15, or $25 monthly service fee — or $0 by meeting balance or direct deposit minimums.

Checking at PNC Bank is called Virtual Wallet. There are three Virtual Wallet options, each with varying benefits and monthly service fees, plus digital tools to help you manage your money. 

You can avoid the monthly fees if you’re 62 or older or meet balance or direct deposit requirements. You can opt for a Virtual Wallet with a Spend (checking) account only — or one with Spend, Reserve, and Growth (savings) accounts. The Spend account doesn’t earn interest, and the Reserve and Growth accounts earn a nominal 0.01% to 0.03% APY. 

• A $0 minimum opening deposit and a $5 monthly service fee, but there are ways to avoid it.  
• 0.01% APY with a standard account or 4.65% APY with a high-yield savings account (limited availability).

PNC’s Standard Savings account has a monthly service charge of $5, or $0 if one of the following is met:

• Average monthly balance of $300
• Linked to a select PNC checking account
• At least one Auto Savings transfer of at least $25 each month from your PNC checking account 
• You are under 18 years old

The account comes with a PNC Banking card for withdrawing cash. While you can make unlimited deposits, the bank charges a $3 fee (per transaction) when you make more than six monthly withdrawals. The account earns a poor interest rate. 

The PNC High Yield Saving account has zero monthly service fees, and there are no minimum opening deposit or balance requirements to earn the APY. However, the account is only available to residents of Arizona, California, Colorado, New Mexico, Texas, and West Virginia.

• $1,000 minimum opening deposit.
• Up to 4.75% APY, with interest compounded and credited to your account monthly.

PNC Bank offers fixed-rate CDs with terms ranging from seven days to 10 years (it also has IRA CDs and Coverdell ESA Certificates with terms of six months to 10 years). The minimum opening deposit is $1,000 for fixed-rate CDs and $250 for IRA CDs. While a few CDs offer competitive rates, most are much lower than you can find elsewhere. Like most CDs, an early withdrawal penalty applies if you need cash before the CD matures. The penalties range from 30 to 180 days of interest, depending on the CD term.

• 0.04% to 1.24% APY with a $0 minimum opening deposit online and $100 at a branch.
• The account comes with an ATM card (debit card purchases aren’t available).

PNC’s Premiere Money Market account offers higher rates when you link to a select PNC checking account. You can avoid the $12 monthly service fee by receiving $2,000 in qualifying direct deposits or making at least five debit card transactions. The account offers unlimited deposits and up to six free withdrawals per month. The APY ranges from 0.04% to 1.24%, depending on your balance—lower rates than you can find elsewhere. 

PNC Bank is a full-service financial institution whose product lineup extends beyond checking and savings accounts. Its other financial products and services include:

• Home loans (purchase and refinance mortgages, HELOCs)
• Auto loans
• Personal loans and lines of credit
• Student loans (and student loan refinancing)
• Credit cards
• Prepaid, reloadable cards
• Investing and wealth management

PNC Bank has a network of 2,300 branches where you can access in-person banking and customer service. Otherwise, personal banking support is available on weekdays from 8 a.m. to 9 p.m. and on weekends from 8 a.m. to 5 p.m. ET. There are dedicated lines for help in Spanish, for veterans and active military, and for Telecommunications Relay Services (TRS) calls. 

PNC Bank has an A+ rating with the Better Business Bureau (BBB). 

PNC Bank charges more (and higher) fees than some of its competitors, though you can avoid many by meeting specific requirements. Here’s a look at some of the fees you might pay:

• Monthly service fees (varies by account)
• $36 overdraft fee
• $3 excess transaction fee
• $3 out-of-network U.S. ATM fee
• $5 international out-of-network ATM fee
• $15 incoming domestic and international wire fees
• $25 outgoing domestic wire fee
• $40 to $50 outgoing international wire fee
• $33 stop payment fee

With 2,300 branches and some 60,000 fee-free ATMs nationwide — plus online and mobile banking tools — PNC Bank customers have many options for accessing cash. For example, you can:

• Withdraw and deposit cash at an ATM
• Access an ATM without your card by requesting a one-time access code through the mobile app
• Pay bills online
• Deposit checks using your smartphone’s camera
• Receive direct deposits
• Transfer money between accounts
• Use Zelle to send and receive money with friends and family
• Lock your cards with PNC Easy Lock

The PNC Bank mobile app has 4.8 out of 5 stars from 1.4M ratings in the Apple App Store and 4.5 out of 5 stars from 247K reviews in the Google Play store. 

PNC Bank is a good choice if you live near a branch and want in-person banking and a competitive high-yield savings account rate. It’s also a convenient option if you want multiple financial accounts under one roof. 

PNC Bank offers competitive rates on just a few CDs and on its high-yield savings account, which is only offered to customers in certain areas. Consider looking elsewhere if you’re looking for higher interest rates on deposit accounts. 

PNC Bank may not have the best savings account rates, but it offers a range of financial products so you can hold numerous accounts under one roof. Another benefit is that PNC provides multiple options for accessing your money, including an extensive network of fee-free ATMs, online bill pay, mobile check deposits, and Zelle. 

PNC Bank may be a good option for your personal banking needs if you live near a branch, want access to in-person banking, and aren’t after the highest savings rates. PNC Bank is an FDIC-member bank, so your deposits are federally insured up to $250,000 per depositor, per account ownership type. 

Editorial Disclosure: All articles are prepared by editorial staff and contributors. Opinions expressed therein are solely those of the editorial team and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in this article is accurate as of the date of the publish. Check the lender’s website for the most current information.

This article was originally published on SFGate.com and reviewed by Lauren Williamson, who serves as Financial and Home Services Editor for the Hearst E-Commerce team. Email her at [email protected].