![]() ![]() PNC Bank offers a wide certificate of deposit (CD) selection to its customers. But the Virtual Wallet accounts charge higher maintenance fees than the Standard Savings account, so be sure you meet one of the requirements to waive the fee before you sign up. You can also quickly transfer funds between your linked accounts. The main advantage of a Virtual Wallet account is that you can manage all your money in one place. However, it's still short of what online banks offer. If you choose the highest tier - the Virtual Wallet with Performance Select option - and you deposit a five- or six-figure sum in savings, you qualify for an APY that's better than the average brick-and-mortar savings account APY. There are four incarnations of the Virtual Wallet account, charging different fees and offering different rates on savings. The savings portion is called the Growth account. If you choose a PNC Bank Virtual Wallet account, you're opening a checking and a savings account together. But as they get older, they'll probably want to graduate to a savings account with a better APY. There is no monthly fee if the account holder is under 18, so it's a cost-effective way to teach kids good financial habits. It provides an interactive online banking experience and budgeting tools to help young children learn to manage money and save for their financial goals. It doesn't offer much interest, but that's not the goal. The 'S' is for Savings account is a bank account for children. You might also incur extra fees if you use an ATM outside the PNC Bank network. But since it's a savings account, you can face additional charges if you make more than six withdrawals per month. Those who keep larger balances in their accounts can qualify for slightly higher rates.Īll account holders get a PNC Banking card for withdrawing cash. ![]() The Standard Savings account's APY is highly competitive for a brick-and-mortar bank. However, these minimums are so low they're unlikely to keep anyone from opening an account. The account also has a minimum opening deposit requirement and a minimum ongoing balance requirement to earn interest. There are several ways to waive it, though - and they aren't that difficult to achieve. Like most brick-and-mortar savings accounts, it charges a monthly maintenance fee. The PNC Bank Standard Savings account is a standalone account you can open at a branch location or online. PNC offers the following savings account types. ![]()
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