Written by:Myriam Robinson-Puche Myriam is a personal finance writer based in Brooklyn, New York. The foundation of her financial knowledge comes from developing financial plans for over 100 clients.
Edited by:Alyssa Trostle Alyssa is a MarketWatch Guides team editor covering personal finance, insurance and loans.
Reviewed by:Barbara O'Neill Barbara O’Neill , Ph.D., is a certified financial planner and the owner of Money Talk, a financial planning seminars and publications business where she writes, speaks and reviews content about personal finance. She is a distinguished professor emeritus at Rutgers University and has written more than 190 articles for academic publications and received more than $1.2 million in grants and contracts to support financial education programs and research. O’Neill tweets personal finance information @moneytalk1, writes weekly blog posts, and is the author of Flipping a Switch, a book about later-life financial transitions.
Our PNC Bank review gives the company 4.1 out of 5 stars overall based on its high customer satisfaction scores, accessibility and great mobile app.
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*Annual Percentage Yield
**Accurate as of July 2024, assuming FDIC average savings rate of 0.45% and $2,500 deposit.
Why You Can Trust the MarketWatch Guides Team
Here’s a breakdown of how we reviewed and rated top banks and credit unions
154
Institutions MonitoredOur team reviewed more than 100 of the country’s largest and most prominent financial institutions, from big banks like Chase and Bank of America to credit unions like Navy Federal Credit Union and PenFed Credit Union.
688
Products StudiedTotal number of checking, saving, CDs, and money-market accounts that inform our review ratings.
719
Rates TrackedThe accounts with an annual percentage yield (APY) several times the national average rate receive the highest scores. Accounts with the lowest APY offering (under 1%) earn the least points.
10
Professionals ConsultedBefore we began our research process, we consulted with financial advisors and industry experts to ensure our evaluations covered the banking product aspects that matter most to potential customers.
Our PNC Ratings
We give PNC 4.1 out of 5 stars after evaluating factors including its branch availability, online banking capabilities, account fees, interest rates and customer support. Here’s how the company scores in each of our review categories:
Flip Card PNC Bank
PNC Bank Rating 4.1 / out of 5 stars
Rating breakdown
Banking Experience and Access PNC earned this score for having 60,000 ATM locations, over 2,300 branches, and a great mobile app. 4.1 / 5
Checking PNC earned this score for offering two different checking account options, and you can earn up to $400 when you sign up. 4.3 / 5
Savings PNC earned this score for offering the S Is for Savings children’s account, and there are no minimum opening deposits or monthly service charges on the PNC Growth account. 4.4 / 5
Certificate of Deposits (CDs) PNC earned this score for offering a fixed-rate CD with both standard and promotional rates. 3.6 / 5
Money Market Accounts PNC earned this score for having no minimum deposit to open, and you have ATM access to your money market account. 4.1 / 5
*Ratings are determined by our editorial review team. Learn more about our scoring methodology. Our review team reached out to PNC for a comment on its certificate of deposit rating but did not receive a response.
PNC vs. Other Top Banks
Despite being a regional bank, PNC holds its own in terms of physical presence. This is especially true for its massive ATM network. The bank also offers many of the same financial products typically available from national banks.
| PNC | Truist | Citibank | Wells Fargo | |
| Our rating | 4.1 | 4 | 4.2 | 3.8 |
| Number of branch locations | 2,300 | 2,000 | 650 | 4,600 |
| Number of ATM locations | 60,000 | 3,000 | Access to more than 65,000 fee-free ATMs included in the MoneyPass and Allpoint ATM networks | 11,000 |
| Available deposit products | Checking, savings, CDs, money market accounts | Checking, savings, CDs, money market accounts | Checking, savings, CDs | Checking, savings, CDs |
| No-fee checking account option?* | Yes | Yes | Yes | Yes |
>> Related: Learn more about the largest banks in the U.S.
Overview of PNC Bank: Pros and Cons
PNC Bank is a regional bank based in Pittsburgh. It’s also the sixth largest commercial bank in the country with over $557 billion in assets, according to the Federal Reserve. Branch locations for PNC are in 28 states, including California, Florida, New Jersey, New York and Pennsylvania, along with Washington, D.C., so there could be a PNC near you.
Like many of the largest banks in the U.S., PNC Bank comes from a long line of financial institutions that merged over the decades. Its earliest predecessor, Pittsburgh National Bank, was founded in 1852. Most recently, PNC Bank acquired Banco Bilbao Vizcaya Argentaria’s U.S. banking business in 2021 to expand its physical reach.
Pros
Mobile banking app: It includes a calendar for planned expenses and deposits, budgeting features and savings goal trackers.
Easy access: PNC has 60,000 fee-free ATMs and 2,300 branches spanning 28 states and Washington, D.C.
High-yield savings account: Available in select markets, this account offers a competitive savings rate.
Customer satisfaction: Customers in six regions gave PNC above average scores in a J.D. Power banking study.
Cons
Overdraft fees: Most PNC checking accounts charge a $36 fee if you aren’t opted into overdraft protection and overdraw your account by more than $5.
Low savings APYs: The standard savings account pays little interest even at relationship rates.
Low money market APYs: Rates on this PNC account only beat the national average if you deposit at least $100,000.
PNC Bank Accounts
PNC Bank has several ways to deposit and earn interest on cash. This includes CD, checking, savings and money market accounts. All deposit products are insured by the Federal Deposit Insurance Corp. (FDIC) for up to $250,000 per depositor, per account ownership category.
Like many large banks, such as Chase Bank and Bank of America, PNC offers relationship rates for customers who meet certain requirements. You need to link your PNC savings or money market account to your PNC checking account and meet monthly transaction or direct deposit requirements to reach and maintain relationship status.
PNC Bank also offers credit cards, home loans, auto loans, personal loans and student loans.
| PNC Bank Account | Standard APY* | Relationship APY* | Minimum Opening Deposit |
|---|---|---|---|
| Virtual Wallet | 0.01% to4.65% in select markets** | 0.02% to 0.03% | $0 |
| Virtual Wallet with Performance Spend | 0.01% | 0.03% to 0.04% | $0 |
| Virtual Wallet with Performance Select | 0.01% | 0.04% to 1.00% | $0 |
| Virtual Wallet Student | 0.01% | 0.02% to 0.03% | $0 |
| Standard savings | 0.01% | 0.02% to 0.03% | $0 |
| S is for Savings | 0.01% | N/A | $0 |
| Fixed-rate CD | 0.01% to 5.05% | N/A | $1,000 |
| Fixed-rate IRA CD | 0.01% to 4.25% | N/A | N/A |
| Premiere money market | 0.00% | 0.03% to 0.04% (with a balance below $100,000) | $0 |
**The high-yield savings rate for the Virtual Wallet Growth account is available in limitedmarkets. The quoted APY is for the 55435 ZIP code. Rates in other ZIP codes may vary.
PNC Checking Accounts
4.3
| PNC Checking Account | Minimum Opening Deposit | Monthly Service Fee | Overdraft Fee | APY* |
| Virtual Wallet | $0 | $7, can be waived | $36, max 1 per day | Reserve Checking: 0.01% |
| Virtual Wallet with Performance Spend | $0 | $15, can be waived | $36, max 1 per day | Reserve Checking: 0.01% |
| Virtual Wallet with Performance Select | $0 | $25, can be waived | $36, max 1 per day | Spend Checking: 0.01% Reserve Checking: 0.01% |
| Virtual Wallet Student | $0 | $0 for the first 6 years | $36, max 1 per day | Reserve Checking: 0.01% |
| Foundation Checking | $0 | $5, waived if aged 62 or older | $0 | N/A |
*APY accurate as of July 17, 2024. Rates and accounts listed are for Pittsburgh.
PNC Checking Account Overview
We rate PNC Bank checking accounts 4.3 out of 5 stars in this category. The bank offers five checking accounts and a competitive sign-up bonus for its Virtual Wallet products, but it lacks perks such as debit card rewards.
Pros and Cons
Pros See multiple accounts at a glance: Virtual Wallet lets you see all of your PNC accounts at once on the mobile app or online. Great sign-on bonus: Earn a sign-on bonus of up to $400 with a new Virtual Wallet account. See our best bank bonuses article for details. Digital tools: All Virtual Wallet accounts have tools such as spending categories, a calendar to schedule bills and savings goals for long-term planning. Cons Overdraft fees: While PNC gives you 24 hours to restore your balance to at least $0, it will charge you $36 if you overdraft (maximum of one per day and excludes Foundation Checking). Tiered account perks: Virtual Wallet with Performance Select offers the highest relationship rates and reimburses more ATM fees, but you’ll need higher balances to get its monthly account fee waived.
PNC Checking Account Options
PNC’s checking accounts are bundled into its Virtual Wallet, which contains two checking accounts — Spend primary checking and Reserve secondary checking — and a Growth savings account.
There are four Virtual Wallet options to choose from. Each one has slightly different features and fees depending on your average balances or direct deposit amounts. All Virtual Wallets have a feature called Low Cash Mode, which gives you 24 hours to avoid any overdraft fees, plus options to quickly restore your balance to positive.
PNC Virtual Wallet Spend
The basic Virtual Wallet account could be a good choice if you have direct deposits of at least $500 per month. While the checking account has a $7 monthly service charge, it can be waived with $500 or more in direct deposits per statement period or a $500 minimum average monthly balance across your Spend and Reserve accounts.
There’s no minimum deposit to open a Virtual Wallet account. Online account statements are free, but you’ll pay $3 for paper statements. And while you won’t get charged an ATM fee if you use one in PNC Bank’s network, you’ll be charged a $3 fee for using non-PNC ATMs within the U.S. and $5 abroad. There are no ATM fee reimbursem*nts.
PNC Virtual Wallet with Performance Spend
Virtual Wallet with Performance Spend can be a solid choice if you have a higher balance or larger direct deposits. The $15 monthly service charge can be waived with $2,000 in direct deposits per statement period, a $2,000 average monthly balance across your Spend and Reserve accounts or a $10,000 average monthly balance across all of your PNC consumer deposit accounts.
There’s no minimum deposit to open the account. Performance Spend account holders receive two non-PNC Bank ATM fee reimbursem*nts per statement cycle, but after that, it has the same fees as the standard Virtual Wallet account.
PNC Virtual Wallet Performance Select
Performance Select is the top tier of Virtual Wallet accounts. It has a $25 monthly service charge that can be waived if you’re a PNC employee, have $5,000 or more in direct deposits per statement period, have a $5,000 average monthly balance in your Spend and other checking accounts or a $25,000 combined monthly balance across all of your PNC consumer deposit or investment accounts.
There’s no minimum deposit to open this account. Paper and online statements are offered with no fee, and PNC doesn’t charge fees for using in-network or out-of-network ATMs with this account. For out-of-network ATM fees charged by another financial institution, PNC reimburses up to $10 per statement period.
PNC Virtual Wallet Student
A PNC Virtual Wallet Student account has the same features as a regular Virtual Wallet account — primary and secondary checking and a savings account — but it’s designed for students. For the first six years after you open a Virtual Wallet Student account, there are no monthly maintenance fees. After that, the account will be converted to a regular Virtual Wallet Spend account.
Foundation Checking Account
The Foundation Checking account (which isn’t part of the Virtual Wallet bundle) is designed for those who don’t qualify for traditional checking accounts. It has a $5 monthly fee that can be waived if you’re a PNC employee or over 62 years old. There are no minimum deposit requirements oroverdraft feesfor this account.
Check out our list of thebest checking accountsof 2024.
| PNC Savings Account | Minimum Opening Deposit | Monthly Service Fee | Overdraft Fee | APY* |
| Growth Savings | $0 | $7 to $25 depending on which Virtual Wallet you have (waived with minimum deposits or balance) | $36, max 1 per day | 0.01% (standard rate) 0.02% to 1.00% (relationship rates, depending on balance) |
| Standard Savings | $0 | $5, can be waived | $36, max 1 per day | 0.01% (standard rate) 0.02% to 0.03% (relationship rates, depending on balance) |
| S is for Savings | $0 | $5, can be waived | $36, max 1 per day | 0.01% |
| PNC High Yield Savings | $0 | $0 | $36, max 1 per day | 4.65% |
*APY accurate as of July 17, 2024. Rates and accounts listed are for Pittsburgh, except the high-yield savings account, which uses rates for Los Angeles.
PNC Savings Account Overview
We rate PNC’s savings accounts 4.4 out of 5 stars. The bank earns points for the APY on its high-yield savings account but loses points for lackluster savings features. PNC Bank offers a handful of savings account options. Its Growth accounts are included in Virtual Wallet accounts, but there are other savings account options through PNC.
Pros and Cons
Pros High APY for some: PNC’s high-yield savings account pays more than eight times the national average interest rate, but it’s not available in all areas. No minimum deposit: PNC doesn’t require a minimum deposit to open any of its savings accounts, unlike competitors such as Wells Fargo, which requires $25. Auto Savings tool: PNC allows you to set up an automatic monthly transfer from your checking to select savings accounts. Cons $5 monthly charge: You’ll have to pay a monthly fee for a Standard Savings or S is for Savings account unless you qualify to get the fee waived. Low APYs outside of HYSA: PNC’s interest rates for its three non-HYSA accounts are significantly lower than the national average, so you could earn more with a different option.
PNC Savings Account Options
PNC Growth Account
The PNC Growth Account is part of all Virtual Wallet bundles. Growth accounts have no minimum opening deposit, and they have no monthly service charge on top of the fee for a Virtual Wallet account. APYs for Growth accounts are low even if you qualify for a relationship rate. Relationship rates increase slightly as you move up through the Virtual Wallet tiers.
You can qualify for a relationship rate by making five or more PIN or signature purchases with your PNC debit card per month orreceiving at least $500 to $5,000 in direct deposits per month in your Spend account, depending on your tier. Read more on PNC’s high-yield savings account.
PNC Standard Savings
This stand-alone account charges a $5 monthly service fee, but it can be waivedif you’re under 18, maintain a $300 average monthly balance, receive a $25 Auto Savings transfer from your PNC checking account or link this account to your Virtual Wallet.
Standard Savings allows you to set up automatic transfers from your checking account, and it has a free banking card and no fees at PNC ATMs. This account has a low APY compared to thenational average savings account interest rate, which is currently 0.45%.
PNC S Is for Savings
This account is designed to help children learn financial literacy skills, complete with online lessons. There’s no monthly service fee for account holders under 18 years old or for accounts that have an average monthly balance of at least $300 or receive at least $25 in monthly Auto Savings transfers from a PNC checking account. Otherwise, the monthly fee is $5. As is the case for Growth and Standard savings accounts, S is for Savings earn a low APY.
Check out our list of thebest savings accounts of 2024.
PNC High Yield Savings
PNC’s High Yield Savings account offers a competitive APY and has no monthly service fees. The downside is that it’s only available online in 29 states and, for four other states, both online and in person at select PNC Solution Centers. Input your home ZIP code in the field near the bottom of PNC’s savings webpage to see if you live in an eligible area.
PNC Savings vs. Competitors
PNC vs. Truist
PNC has a wider physical footprint than Truist, with branches in 28 states and 60,000 ATMs. Truist has branches in Washington, D.C., and just 15 states, mostly in the Southeast, and has a small network of about 3,000 ATMs. But Truist beats PNC on checking accounts because it doesn’t charge overdraft fees and offers much better perks — such as bonus credit card rewards — as your balance increases.
While PNC’s high-yield savings account has a much higher APY than Truist’s two savings accounts, it’s not available in every market PNC covers. Truist’s money market account has a much better standard APY than PNC’s. But PNC doesn’t have minimum opening deposits for its savings, checking, and money market accounts, while Truist requires $25 to $2,500 depending on the type of deposit account.
PNC vs. Citibank
Citi is the fourth largest bank in the U.S. as measured by assets and has more than 65,000 ATMs, while PNC ranks sixth and has 60,000 ATMs. Citi’s checking and savings accounts have lower monthly fees than most of PNC’s accounts, but the two banks offer similar options for getting those fees waived.
Citi accounts also have better perks for customers with high balances, such as financial planning. Both PNC and Citi offer competitive high-yield savings accounts in limited areas, but Citibank doesn’t offer money market accounts.
PNC vs. Wells Fargo
Wells Fargo has roughly twice the number of branches PNC does, but PNC has more than five times as many ATMs. For checking, both banks have similar fees that are easy to get waived, but PNC’s Virtual Wallet Student account has no monthly service fee for the first six years.
PNC’s savings offerings are better — Wells Fargo doesn’t have a high-yield savings account, and its savings APYs are paltry in comparison. The Wells Fargo CDs available online offer higher rates than PNC’s, but Wells requires a $5,000 minimum deposit for its most competitive CD rate, while PNC’s minimum is $1,000.
PNC Certificates of Deposit
3.6
| PNC CD | Minimum Opening Deposit | Terms | Standard APY* | Early Withdrawal Penalty |
|---|---|---|---|---|
| Fixed-rate standard CD | $1,000 | 1 month to 10 years | 0.01% to 0.03%, depending on balance | Terms less than 3 months: forfeit all interest Terms 3 months to less than 1 year: 3 months of interest Terms of 1 year or more: 6 months of interest |
| Fixed-rate promotional CD | $1,000 | 4 to 61 months | 0.01% to 5.05%, depending on balance | Terms less than 3 months: forfeit all interest Terms 3 months to less than 1 year: 3 months of interest Terms of 1 year or more: 6 months of interest |
| Fixed-rate standard IRA CD | $250 | 6 months to 10 years | 0.01% to 0.03%, depending on balance | Terms less than 3 months: forfeit all interest Terms 3 months to less than 1 year: 3 months of interest Terms of 1 year or more: 6 months of interest |
| Fixed-rate promotional IRA CD | $250 | 7 to 61 months | 0.01% to 4.25%, depending on balance | Terms less than 3 months: forfeit all interest Terms 3 months to less than 1 year: 3 months of interest Terms of 1 year or more: 6 months of interest |
*APY accurate as of July 17, 2024. Rates and accounts listed are for Pittsburgh and may vary by location.
PNC CD Overview
We rate PNC’s CDs 3.6 out of 5 stars. We like the number of CD terms the bank offers, but APYs on most of those products are very low. PNC Bank offers fixed-rate CDs at standard and promotional rates, with terms ranging from one month to 10 years. Additional CD terms are available at its branches.
There’s a $1,000 minimum to open CDs outside an individual retirement account (IRA). PNC’s IRA CDs have a $250 minimum opening deposit and are available in terms from six months to 10 years. With IRA CDs, you get tax-advantaged earnings for retirement.
Pros and Cons
Pros Variety of CD terms: PNC offers more than 30 term options for fixed-rate CDs, including promotional terms with higher rates. Tax-advantaged growth: You can open a CD within your Roth or traditional IRA to enjoy tax-advantaged growth on your retirement savings. Cons Low CD rates: Most PNC CDs have lower APYs than national average interest rates for this type of account.
PNC CD Options
Standard Fixed-Rate CDs
PNC’s Standard fixed-rate CDs have low APYs. In general, PNC’s fixed-rate CDs could be a good option for savers looking for guaranteed returns.
Promotional Fixed-Rate CDs
PNC’s promotional fixed-rate CDs offer a wide range of interest rates from low to more competitive, depending on the selected CD terms, which range from four to 61 months.
Fixed-Rate IRA CDs
Fixed-rate IRA CDs may be appropriate for people close to or already within retirement, since they are a safe savings option, but don’t earn much interest. Younger investors will probably want a more aggressive investment strategy.
Check out our list of thebest CD rates of 2024.
PNC Bank CDs vs. Competitors
PNC vs. Truist
PNC has a wider physical footprint than Truist, with branches in 28 states and 60,000 ATMs. Truist has branches in Washington, D.C., and just 15 states, mostly in the Southeast, and has a small network of about 3,000 ATMs. But Truist beats PNC on checking accounts because it doesn’t charge overdraft fees and offers much better perks — such as bonus credit card rewards — as your balance increases.
While PNC’s high-yield savings account has a much higher APY than Truist’s two savings accounts, it’s not available in every market PNC covers. Truist’s money market account has a much better standard APY than PNC’s. But PNC doesn’t have minimum opening deposits for its savings, checking, and money market accounts, while Truist requires $25 to $2,500 depending on the type of deposit account.
PNC vs. Citibank
Citi is the fourth largest bank in the U.S. as measured by assets and has more than 65,000 ATMs, while PNC ranks sixth and has 60,000 ATMs. Citi’s checking and savings accounts have lower monthly fees than most of PNC’s accounts, but the two banks offer similar options for getting those fees waived.
Citi accounts also have better perks for customers with high balances, such as financial planning. Both PNC and Citi offer competitive high-yield savings accounts in limited areas, but Citibank doesn’t offer money market accounts.
PNC vs. Wells Fargo
Wells Fargo has roughly twice the number of branches PNC does, but PNC has more than five times as many ATMs. For checking, both banks have similar fees that are easy to get waived, but PNC’s Virtual Wallet Student account has no monthly service fee for the first six years.
PNC’s savings offerings are better — Wells Fargo doesn’t have a high-yield savings account, and its savings APYs are paltry in comparison. The Wells Fargo CDs available online offer higher rates than PNC’s, but Wells requires a $5,000 minimum deposit for its most competitive CD rate, while PNC’s minimum is $1,000.
PNC Money Market Accounts
4.1
| PNC Money Market Account | Monthly Service Fee | Overdraft Fee | APY* | Minimum Opening Deposit |
| Premiere Money Market | $12, waived with a $5,000 average monthly balance or by linking a select PNC checking account | $36, max 1 per day | 0.00% (standard rate) 0.03% to 1.25% (relationship rates, depending on balance and checking option) | $0 |
*APY accurate as of July 17, 2024. Rates listed are for Pittsburgh.
PNC Money Market Accounts Overview
We give PNC’smoney market accounts4.1 out of 5 stars. Money market accounts (MMAs) typically offer higher interest rates compared to normal savings accounts. But unless you plan to put at least $100,000 in a PNC Premiere Money Market account, you’ll earn a relatively low APY on your balance
Pros and Cons
Pros Relationship rates: If you qualify for PNC’s higher relationship rates through direct deposits or debit purchases, you could earn slightly more on your savings. Promotional rates in some markets: If you maintain a $10,000 minimum daily balance, you’ll earn a promotional rate for the first 12 months. Cons Service fee: You’ll pay a $12 monthly service fee unless you maintain a $5,000 average monthly balance or link a select PNC checking account.
PNC Money Market Accounts Options
Premier Money Market
PNC’s Premiere Money Market account offers relationship rates, but you must qualify with direct deposits and debit card transactions. Also, rates don’t jump significantly until your balance reaches $100,000 or more. In some markets, the account offers a high promotional rate for balances above $10,000 for the first year and then a nominal standard interest rate.
The account offers a free PNC banking card and the ability to make automatic monthly transfers from your PNC checking account. Savers with average monthly balances under $5,000 will be charged a $12 monthly service fee unless they have a qualifying PNC checking account linked.
>> Related: Learn more about the best checking accounts
PNC Bank Customer Ratings
The Better Business Bureau (BBB) gives PNC Bank anA+ rating, but it isn’t accredited by the organization. Bauer Financial rates PNC Bank4 out of 5 stars.
Mobile banking with PNC has strong reviews as well. PNC Bank’s mobile app has an average rating of4.8 out of 5 starson the App Store based on more than 1.5 million reviews. Over 248,000 reviewers on Google Play give the app average of4.5 out of 5 stars.
PNC Bank places above the regional average in theJ.D. Power 2023 U.S. Retail Banking Satisfaction Studyin the Illinois, Mid-Atlantic, North Central, New York Tri-State, Pennsylvania and Southeast regions.
PNC Bank Customer Satisfaction Survey
In our December 2023 MarketWatch Guides consumer banking survey, 57% of respondents who use PNC as their primary bank reported being extremely satisfied with their overall banking experience, while 34% said they’re moderately satisfied. Other large banks, such as Bank of America, Chase and Wells Fargo, received similar survey results.
PNC has a wider physical footprint than Truist, with branches in 28 states and 60,000 ATMs. Truist has branches in Washington, D.C., and just 15 states, mostly in the Southeast, and has a small network of about 3,000 ATMs. But Truist beats PNC on checking accounts because it doesn’t charge overdraft fees and offers much better perks — such as bonus credit card rewards — as your balance increases.
While PNC’s high-yield savings account has a much higher APY than Truist’s two savings accounts, it’s not available in every market PNC covers. Truist’s money market account has a much better standard APY than PNC’s. But PNC doesn’t have minimum opening deposits for its savings, checking, and money market accounts, while Truist requires $25 to $2,500 depending on the type of deposit account.
Citi is the fourthlargest bank in the U.S.as measured by assets and has more than 65,000 ATMs, while PNC ranks sixth and has 60,000 ATMs. Citi’s checking and savings accounts have lower monthly fees than most of PNC’s accounts, but the two banks offer similar options for getting those fees waived.
Citi accounts also have better perks for customers with high balances, such as financial planning. Both PNC and Citi offer competitive high-yield savings accounts in limited areas, but Citibank doesn’t offer money market accounts.
Wells Fargo has roughly twice the number of branches PNC does, but PNC has more than five times as many ATMs. For checking, both banks have similar fees that are easy to get waived, but PNC’s Virtual Wallet Student account has no monthly service fee for the first six years.
PNC’s savings offerings are better — Wells Fargo doesn’t have a high-yield savings account, and its savings APYs are paltry in comparison. TheWells Fargo CDsavailable online offer higher rates than PNC’s, but Wells requires a $5,000 minimum deposit for its most competitive CD rate, while PNC’s minimum is $1,000.
The Bottom Line: Is PNC Right for You?
PNC Bank offers great tools for everyday transactions, especially with PNC’s Virtual Wallet Low Cash Mode. There’s lots of branch locations, but only in 28 states. Fortunately, there’s even more in-network ATMs, rivaling the biggest banks in the country.
Some of its promotional rate CDs are strong, but most PNC savings products have low APYs. Additionally, there are some account service fees and overdraft fees that you could incur if you aren’t careful. Otherwise, PNC Bank is a solid choice.
>> Related: Learn more about the best high-yield savings accounts
Learn More About PNC Bank
See how PNC stands out in our roundups of the best financial institutions and deposit products available today:
- #1 on Best Savings Accounts for Kids
- #1 on Best Savings Accounts for Teens
- #3 on Best Bank Bonuses
FAQ: PNC Reviews
The pros of PNC are that it has a great mobile banking app and high customer satisfaction scores. On the other hand, PNC bank’s cons are that it charges high overdraft fees and doesn’t have physical branch locations in all states.
PNC can be better than Chase in some ways but not others. Chase has more branch locations than PNC, but PNC has more ATM locations. Both banks have a similar low APY for savings accounts.
There’s no fees to open an account, but be mindful to avoid account monthly service fees.
Methodology
Our team researched more than 100 of the country’s largest and most prominent financial institutions, collecting information on each provider’s account options, fees, rates, terms and customer experience. We then scored each firm based on the data points and metrics that matter most to potential customers. Read our full methodology.
- Savings and money market accounts (35% of total score): The best scores go to banks, loans and fintech companies with high interest rates and low or no fees or minimum opening deposits.
- Checking accounts (30% of total score): High marks are given to those with multiple accounts and minimal fees, plus benefits such as reward programs and mobile check deposit.
- Certificates of deposit (20% of total score): Top-rated financial institutions have low or no minimum opening deposits, as well as a variety of term options and specialty CDs for flexibility.
- Banking experience and access (15% of total score): Providers that excel in this category have large branch and ATM networks and multiple checking and savings accounts, and they earn more points for offering CDs and money market accounts.
*Data accurate at time of publication.
Editor’s Note: Before making significant financial decisions, consider reviewing your options with someoneyou trust, such as a financial adviser, credit counselor or financial professional, since every person’s situation and needs are different.
If you have feedback or questions about this article, please email the MarketWatch Guides team at editors@marketwatchguides.com.
Myriam Robinson-PucheContributor
Myriam is a personal finance writer based in Brooklyn, New York. The foundation of her financial knowledge comes from developing financial plans for over 100 clients.
Alyssa TrostleEditor
Alyssa is a MarketWatch Guides team editor covering personal finance, insurance and loans.
Barbara O'NeillReviewer
Barbara O’Neill , Ph.D., is a certified financial planner and the owner of Money Talk, a financial planning seminars and publications business where she writes, speaks and reviews content about personal finance. She is a distinguished professor emeritus at Rutgers University and has written more than 190 articles for academic publications and received more than $1.2 million in grants and contracts to support financial education programs and research.
O’Neill tweets personal finance information @moneytalk1, writes weekly blog posts, and is the author of Flipping a Switch, a book about later-life financial transitions.
