PNC Spend Account is a checking account, but with some differences from a traditional one

Yes, PNC Spend Account functions as a checking account — you get a debit card, you can write checks, and you can set up direct deposit. The main difference is that PNC designed it specifically for people who are new to banking or returning after a gap. It has lower fees than some of PNC's other checking accounts, and the requirements to open one are simpler.

The account comes with a debit card that works at ATMs and stores, online bill pay so you can pay bills from your computer or phone, and the ability to receive direct deposits from your employer. You can also transfer money between your own PNC accounts. In the ways that matter most — depositing money, spending it, and paying bills — it works like any other checking account.

Key Takeaways

  • PNC Spend Account is a checking account with a debit card, check-writing ability, and direct deposit options.
  • It requires no minimum balance to open or maintain, which sets it apart from PNC's other checking accounts.
  • Monthly maintenance fees are lower than traditional PNC checking accounts, though fees do explore for certain actions like overdrafts.
  • You can open one in person at a PNC branch or online, and you will need a government-issued ID and Social Security number.

What fees come with PNC Spend Account

PNC Spend Account has no monthly maintenance fee, which is the main cost savings compared to their other checking accounts. However, you will pay fees for certain actions: overdraft fees if you spend more than you have, fees for using ATMs outside the PNC network, and fees if you close the account within a certain period.

The overdraft fee applies each time your account goes negative, even by a small amount. PNC also charges for each out-of-network ATM transaction after a certain number per month. Ask at your local PNC branch or check their website for the exact current amounts, since these fees change periodically and may vary slightly by region.

How PNC Spend Account differs from other PNC checking accounts

PNC offers several checking accounts aimed at different situations. Spend Account has no minimum balance requirement, while their other checking accounts (like Performance Checking or Interest Checking) require you to maintain a certain amount of money in the account at all times. If your balance drops below that minimum, you pay a monthly fee.

Spend Account also has a simpler approval process. PNC checks your banking history using ChexSystems, a system that tracks how you have handled bank accounts in the past, but they are more lenient with Spend Account than with their premium accounts. If you have had problems with a bank account before, Spend Account may be your best option at PNC.

What you need to open a PNC Spend Account

You will need a government-issued photo ID (a driver's license, passport, or state ID card) and your Social Security number. You can open the account in person at any PNC branch or online through their website. If you open it online, you may need to verify your identity by uploading a photo of your ID.

You do not need to have had a bank account before, and you do not need a minimum deposit to open the account. However, you will need to fund it at some point — you cannot keep it empty indefinitely. You can make your first deposit by transferring money from another bank account, depositing cash at a PNC ATM, or having your paycheck deposited directly.

How to use your PNC Spend Account debit card

Once your account opens, PNC will mail you a debit card. The card works at any store or ATM that accepts Visa (the payment network PNC uses). You can use it to buy things in person, pay online, or withdraw cash from ATMs. When you use the card, the money comes directly from your checking account.

You can set a PIN (personal identification number) for your card, which you will need when you withdraw cash from an ATM or when you use the card at some stores. You can also use your card without a PIN at most stores by signing a receipt or using contactless payment (tapping your card). Check your PNC account online or through their mobile app to see each transaction and make sure everything is correct.

Setting up direct deposit and paying bills

Direct deposit means your employer sends your paycheck straight into your bank account instead of giving you a paper check. To set this up, you give your employer your account number and routing number (both printed on the bottom left of your checks, or available through PNC's website or app). The money usually arrives on payday without you having to do anything.

You can also pay bills online through PNC's bill pay service. Log into your account, enter the company you want to pay and the amount, and PNC will send the payment. You can schedule payments for future dates, which is useful if you want to make sure a bill is paid on time. Some bills (like utilities) may also let you set up automatic payments, where the same amount is withdrawn on the same day each month.

Frequently Asked Questions

Can I write checks with PNC Spend Account?

Yes. PNC will send you a checkbook when you open the account, or you can order one through your online account. You can write checks to anyone, and the money will come from your checking account. Some people rarely use checks anymore, but they are still available if you need them.

What happens if I overdraft my PNC Spend Account?

If you spend more money than you have in the account, PNC will charge an overdraft fee each time a transaction goes through when your balance is negative. You will need to deposit money to bring your account back to zero and cover the fees. Some banks offer overdraft protection, which links your checking account to a savings account; ask PNC if this is available for Spend Account.

Can I get cash back at stores with my PNC Spend Account debit card?

Yes. At most grocery stores and retailers, you can ask the cashier for cash back when you pay with your debit card. The amount is added to your purchase and deducted from your account. This is often free, unlike out-of-network ATM withdrawals.

How long does it take to open a PNC Spend Account online?

Online applications usually take a few minutes to complete. PNC may approve you when ready, or they may take a day or two to verify your information. Once approved, your debit card will be mailed to you, which typically takes five to seven business days to arrive.

Is PNC Spend Account the same as a savings account?

No. A savings account is for storing money and earning interest; a checking account is for everyday spending and paying bills. PNC Spend Account is a checking account. If you want to save money and earn interest, you would open a separate savings account.