PNC checking accounts charge monthly fees between $5 and $25 depending on the account tier. Virtual Wallet, PNC’s signature product, bundles checking and savings into a three-account system with a $500 combined average monthly balance requirement to waive the $7 base fee. Performance tiers require more, but offer additional features. PNC uses average monthly balance to measure minimums, which is more forgiving than the minimum daily balance method used by Wells Fargo and TD Bank.
PNC Account Minimums at a Glance
| Account | Monthly Fee | Minimum to Waive | Balance Method | Other Waivers |
|---|---|---|---|---|
| Virtual Wallet Student | $0 | No fee | N/A | Valid college enrollment required |
| Standard Checking | $7 | $500 | Average monthly | $500+ direct deposits, or age 62+ |
| Virtual Wallet | $7 | $500 combined across all 3 accounts | Average monthly | $500+ direct deposits, or student enrollment |
| Virtual Wallet Performance Spend | $15 | $2,000 | Average monthly | None |
| Virtual Wallet Performance Select | $25 | $5,000 | Average monthly | Linked PNC mortgage |
| Foundation Checking | $5 | Cannot be waived | N/A | Second-chance account |
| Standard Savings | $5 | $300 | Minimum daily | Linked PNC checking account |
How PNC Calculates Your Balance
PNC uses average monthly balance for its checking accounts. Your daily closing balances are totaled and divided by the number of days in the statement period. A day where the balance dips below the threshold does not automatically trigger the fee, as long as the average for the full period stays at or above the required amount.
This is more accommodating than the minimum daily balance method. At Wells Fargo, a single day below $1,500 triggers the $10 fee. At PNC, that same temporary dip is averaged against the rest of the month and may not result in a charge.
Standard Checking
Standard Checking charges $7 per month. The fee is waived when the average monthly balance across the account stays at or above $500, or when the account receives $500 or more in qualifying direct deposits during the statement period. Qualifying direct deposits include payroll, government benefits, and pension payments. Transfers from your own accounts at other institutions do not qualify. Primary account holders aged 62 or older receive an automatic fee waiver regardless of balance or activity.
Virtual Wallet
Virtual Wallet is PNC’s flagship checking product. It combines three accounts in one: Spend for everyday transactions, Reserve for short-term savings, and Growth for longer-term savings. The $7 monthly fee is waived when the combined average monthly balance across all three accounts reaches $500. A customer with $100 in Spend, $300 in Reserve, and $100 in Growth meets the requirement through the combined total.
The direct deposit waiver also applies: $500 or more in qualifying direct deposits per month waives the fee. For students enrolled in an eligible college or university, Virtual Wallet Student carries no monthly fee and no balance requirement for up to six years.
Virtual Wallet Performance Tiers
Virtual Wallet with Performance Spend charges $15 per month, waived by maintaining a $2,000 average monthly balance. Virtual Wallet with Performance Select charges $25 per month, waived by maintaining $5,000 in average monthly balance or by holding a linked PNC mortgage. Performance Select includes benefits such as interest on checking balances, waived non-PNC ATM fees, and free standard checks.
PNC Savings Account Minimums
Standard Savings charges a $5 monthly fee, waived by maintaining a $300 minimum daily balance or by linking the savings account to any PNC checking account. The linked-checking waiver means most PNC checking customers can hold a Standard Savings account at no charge without maintaining any specific balance in the savings account itself.
For customers using Virtual Wallet, the Reserve and Growth savings accounts are included in the package and have no separate fee or minimum balance requirement beyond the Virtual Wallet waiver conditions.
For current savings rates, see the PNC savings account guide.
How to Avoid PNC Monthly Fees
For Virtual Wallet and Standard Checking, setting up any qualifying direct deposit of $500 or more per month is the most reliable waiver. For customers whose regular paycheck or government benefit exceeds $500, this is satisfied automatically without any action.
The $500 average balance waiver is accessible for most customers. Because PNC uses average monthly balance, you can run the account lower mid-month and recover before the statement closes without triggering the fee. Keeping an average buffer of $600 to $700 provides comfortable clearance even with large mid-month payments.
For a full breakdown of all PNC charges, see the PNC fees guide.
For a complete overview of PNC accounts, limits, and contact information, see the PNC complete guide.
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