Founded in Pittsburgh, Pennsylvania in 1983 through the merger of Pittsburgh National Corporation and Provident National Corporation, PNC Bank is now the banking subsidiary of PNC Financial Services Group. PNC Bank is one of the largest banks in the United States with assets of nearly $450 billion and operations in 37 states and the District of Columbia. With 2,296 branches and 9,051 ATMs, PNC Bank provides the full gamut of financial services, from everyday retail banking to asset management, estate planning, and loan services. PNC is the fifth-largest bank by number of branches, sixth-largest by deposits, and fourth-largest in terms of number of ATMs.
Let’s take a look at the products and services provided by PNC Bank.
Pros and Cons of PNC
- Full-service bank that offers a wide range of products and services
- Large branch and ATM network
- Mobile app that is functional, easy to use, and highly rated
- Limited number of credit cards offered
- Several fees can be applied to accounts
What Does PNC Offer?
PNC is a full-service, one-stop shop for banking. It’s the type of bank for people who want a full suite of services under one roof. For online banking, PNC Bank has a handful of mobile banking apps available on both iOS and Android devices. With the apps, people can check their account balances, pay bills, transfer money, and deposit checks directly from a mobile device. The apps have received high ratings and positive reviews, and the PNC Mobile Banking app is ranked high among Finance apps on iOS.
At PNC, people can open both a savings and checking account, visit brick-and-mortar branches in 37 states, and get support with everything from buying a house to planning their will and power of attorney.
Savings and Checking
As one would expect, the bank offers a range of basic savings and checking accounts. However, PNC Bank provides a unique product that it calls the “Virtual Wallet,” which includes three bank accounts that are packaged together under one umbrella:
Spend: A basic checking account that requires a minimum deposit of $25 to open
Reserve: An interest-bearing checking account designed for short-term savings goals
Growth: A savings account for longer-term savings that require no minimum amount to open
As a full-service bank, PNC issues credit cards, including a cashback card and a traveler’s reward card. The four credit cards issued by PNC Bank are the PNC Cash Rewards Visa Credit Card, PNC Core Visa Credit Card, PNC Points Visa Credit Card, and PNC Premier Traveler Visa Signature Credit Card.
Certificates of Deposit
PNC Bank also offers Certificates of Deposit. The terms range from seven days to 10 years. PNC’s Fixed Rate CD requires a minimum deposit of $5,000 for CDs with a term of seven days to 89 days and $1,000 for those with a term of 90 days to 10 years.
PNC’s early withdrawal penalties for CDs include the full amount of interest that a person would earn if they left their money for the full term of the CD if they withdrawal less than three months in; three months of interest earned on the amount taken out if an early withdrawal is made from three months to a year in; and six months’ interest on the amount withdrawn if a withdrawal is made after a year or longer.
As a large bank that aims to be all things to all people, PNC provides a robust range of products to its customers, including:
- Home Equity Loans and Lines of Credit
- Auto loans
- Personal loans and Lines of Credit
- Student loans
- Individual Retirement Accounts (IRAs)
- Self-directed trading
- Managed investment portfolios
- 529 Plans education savings plans
- Custodial accounts
- Life insurance
- Financial planning
- Small business banking
- Small business loans
- Workplace banking
- Private banking
As already mentioned, PNC Bank has one of the largest branch and ATM networks in the U.S. Customers in most states can visit one of PNC’s brick-and-mortar branches, visit the PNC website, and even send customer service a tweet at @PNCBank_Help. Representatives from PNC are available to provide customer support seven days a week via telephone at 1-888-762-2265, Monday through Friday, 7 a.m. to 10 p.m. EST, and Saturday and Sunday, 8 a.m. to 5 p.m. EST. There is also a live chat feature available on the PNC Bank website.
What To Expect on the Site
PNC stands out for its easy-to-use online tools and mobile app. Between its website and app, PNC makes it possible to bank anytime, anywhere. For instance, you can open a new account, make payments, check balances, find an ATM, and so much more directly from the app. Additionally, the app is available in both the App Store and Google Play.
Customers can be charged $36 for each overdraft transaction, up to $144 per day. Other charges include a monthly inactivity fee of $6, a stop payment fee of $33, a return deposit fee of $36, a domestic wire transfer fee of $25, a non-bank ATM fee of $3 per transaction, and monthly maintenance fees charged on various savings and checking accounts.
The Bottom Line
PNC Bank is for people who want all their banking needs centralized in one location. The bank provides nearly all the products and services a person, and even a business, could want from a financial institution. While PNC’s online banking does not feature as many bells and whistles as some other exclusively online lenders, it nevertheless has a mobile app that is very well-regarded.
All in all, PNC Bank is a solid option when it comes to full-service banking. It’s worth including in your search for top online banking providers.