6/13/2023
Among the many financial institutions in the United States, PNC Bank is an option with a tradition that goes back more than 100 years. Whether you want to change institutions or diversify the location of your money, we will show you how to open an account at this bank and what requirements you will need.
Requirements for opening an account with PNC Bank
The first thing you should know about this procedure is that you must be over 18 years old and be a U.S. citizen. You will also need two types of official identification and a valid U.S. address.
If you plan to start a business relationship with this entity and you meet the above, you can choose to go to a branch to do the paperwork or do the process through the PNC Bank website.
If you are going to apply online, they accept any of these IDs:
- Military ID
- State ID
- National driver's license
Once the bank has the documents in its hands, it will verify the information to make sure you meet the requirements and give you the go-ahead or not.
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Although each financial institution has its own customer acceptance policies, all of them must abide by KYC (Know Your Customer) protocols to comply with the law.
How do I open an account at PNC Bank?
As long as you meet the minimum requirements requested by the bank, the process of opening an account is very simple. The most convenient way to do it is to visit the official PNC Bank website and use the online form:
- Choose the account of your preference.
- Enter the data as required for processing.
In some instances, the bank may request additional documents to complete the required financial or personal information.
In case you prefer to do the procedure in a PNC bank branch near you, you must go to the office and request to open the account at the teller window. Bring with you all the identification you have and proof of address, such as a utility bill.
PNC Checking Accounts
A particular fact about this bank's checking accounts is that these products are now cataloged as Virtual Wallet.
This implies that PNC has tried to adapt its financial platform to give you more convenience. With this modification, you can operate your accounts online, from your favorite devices and wherever you are.
For any of the checking accounts, the minimum deposit is $25. These banking products are indicated to manage your income and regular expenses. A highlight is the free use of this bank's ATMs (fees may apply if you use other ATMs).
You have four versions to choose from:
- The Virtual Wallet.
- The Virtual Wallet in Spend mode.
- The Virtual Wallet in Select mode.
Each version improves the benefits of the previous one but also increases the requirements, especially in what is needed to avoid the administrative fee. If you want to see them in more detail, we have reviewed them in Busconómico, including also the version for students:
Three accounts in one: Spend, Reserve and Growth, a regular checking account, a reserve account and a savings account, the last two of which are interest-bearing. Easily avoidable monthly fee.
Three accounts in one, to better manage your money with full functionality and remunerated balances with a small return.
Two current accounts and one savings account, all of them remunerated and with full availability and operability.
Two checking and one savings account, with no monthly fee and free debit card, for students. With alerts for parents.
PNC Savings Accounts
PNC also has a traditional savings account that you can link to the virtual wallet you have with this entity to have a more complete management.
Among its main benefits, we can highlight the Low Cash Mode, which gives you more flexibility with overdrafts and uses notifications to alert you.
PNC Bank's standard savings account allows 6 monthly withdrawals and does not require a minimum balance. This banking product has an auto-save feature and use of in-network ATMs is free. Although the maintenance fee is $5, you can avoid it in several ways:
- If you are under 18.
- By setting aside $25 each month for autosavings.
- By linking to a checking account.
- By maintaining an average monthly balance of $300 or more.
Three accounts in one: Spend, Reserve and Growth, a regular checking account, a reserve account and a savings account, the last two of which are interest-bearing. Easily avoidable monthly fee.
Three accounts in one, to better manage your money with full functionality and remunerated balances with a small return.
Two current accounts and one savings account, all of them remunerated and with full availability and operability.
Two checking and one savings account, with no monthly fee and free debit card, for students. With alerts for parents.
Savings account with a profitability that depends on the checking account you have contracted and the deposited balance.
Premier Money Market Account
This banking instrument is characterized by requiring a minimum balance of $100 and allowing 6 monthly withdrawals like the savings account. The most important advantages of this MMA are the use of ATMs without fees and an interest rate that increases with the accumulated balance. To know the yields you have to consult with PNC customer service.
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The administrative fee for this account is $12, but you can avoid it by fulfilling one of these two conditions:
- Link to a checking account.
- Maintain a monthly balance of $5,000 or more.
Knowing how to open an account at PNC Bank is not complicated when you meet the requirements and have your documents at hand. Just be sure to consider which one best suits your finances.
Banks with traditional platforms, such as PNC, are known for having a wide variety of fees associated with checking or savings accounts.
For this reason, we recommend that you review the fee schedule of these products to make a good decision. To do so, you can rely on Busconómico's database and other sources.
Español: Cómo abrir una cuenta en PNC Bank y qué requisitos tiene