What you need to open a PNC savings account
PNC requires a government-issued photo ID, your Social Security number, and an initial deposit to open a savings account. The minimum opening deposit varies by account type—some accounts require $25, others $100 or more. You will also need a current mailing address and a phone number.
If you are opening an account online, PNC will verify your identity through their digital process, which typically takes a few minutes. If you open in person at a branch, bring your ID and the documents listed above. You can also open certain accounts by phone, though you will still need to provide the same information.
PNC offers several savings account types: the standard savings account, the Performance Savings account (which requires higher balances but pays higher interest rates), and the Virtual Wallet Savings account (which is linked to a checking account). Each has different minimum balance requirements and fee structures, so review which one fits your situation before you start.
Key Takeaways
- You need a photo ID, Social Security number, current address, and an initial deposit to open any PNC savings account.
- PNC offers three main savings account types with different minimum balances and interest rates, so choose based on how much you plan to keep in savings.
- You can open an account online, in person at a branch, or by phone, and the process usually takes less than 15 minutes.
- Monthly maintenance fees apply to some accounts if your balance falls below the minimum, so confirm the fee structure for your chosen account type.
Opening an account online
PNC's online account opening process starts at pnc.com. Click "Open an Account" and select the savings account type you want. You will enter your personal information, including your name, date of birth, Social Security number, and address. PNC will ask for a phone number and email address as well.
During the online process, PNC verifies your identity using information from credit bureaus and public records. This verification usually completes in minutes, though occasionally PNC may ask you to confirm additional details or upload a photo of your ID. Once verified, you will choose a username and password, set up online banking access, and arrange your initial deposit.
For the initial deposit, you can link an external bank account and transfer funds, or PNC can mail you a deposit kit. If you link an external account, the transfer typically takes one to three business days. The account is usually active and ready to use once the deposit clears.
Opening an account at a PNC branch
Walk into any PNC branch with your photo ID, Social Security number, and initial deposit. A banker will walk you through the account setup, answer questions about account features, and help you choose which savings account type works best for you. The entire process typically takes 10 to 15 minutes.
Bring your government-issued ID (driver's license, passport, or state ID card) and have your Social Security number ready. If you want to fund the account with a check or cash, bring that with you. If you prefer to link an external bank account for the initial deposit, bring the routing and account numbers from that bank.
Once you complete the paperwork, the banker will give you temporary access to your account. Your debit card (if you opened a checking account) or savings card will arrive by mail within 7 to 10 business days. You can start using your account online or through the PNC mobile app immediately, even before your card arrives.
Opening an account by phone
Call PNC at 1-800-762-6262 to open a savings account over the phone. A representative will guide you through the process, verify your identity, and collect the same information you would provide online or in person. The phone process takes about 15 to 20 minutes.
Have your photo ID and Social Security number ready when you call. The representative will ask for your address, phone number, and email. You will need to arrange your initial deposit—either by transferring from another bank account or by mailing a check to PNC.
After the call, PNC will send you confirmation of your new account by email and mail. You can access your account online or through the mobile app within one business day. If you requested a savings card, it will arrive within 7 to 10 business days.
Funding your new account
PNC accepts several methods to fund your initial deposit. The most common is an electronic transfer from another bank account—provide your routing and account number from that bank, and the transfer usually clears in one to three business days. You can also deposit cash or a check at any PNC branch, and those deposits typically post the same day or next business day.
If you opened your account online and do not have immediate access to another bank account, PNC can mail you a deposit kit with instructions for mailing a check. This method takes longer—usually 5 to 10 business days from the time PNC receives your check.
Some PNC accounts require a minimum opening deposit. Standard savings accounts may require as little as $25, while Performance Savings accounts often require $100 or more. Confirm the minimum for your account type before you transfer funds, so you do not fall short and have to add more money.
Monthly fees and balance requirements
PNC's savings accounts have different fee structures depending on the account type. The standard savings account typically has no monthly maintenance fee if you maintain a minimum balance (often $300 or $500, depending on your region). If your balance falls below the minimum, PNC charges a monthly maintenance fee, usually $5 to $10.
Performance Savings accounts require higher minimum balances—often $2,500 or more—but pay higher interest rates. If your balance drops below the minimum, you may be charged a monthly fee or moved to a lower-rate account. Virtual Wallet Savings accounts are linked to a Virtual Wallet checking account and have their own fee structure.
Review the fee schedule for your specific account type on PNC's website or ask a banker in person. Fees vary by region and account type, so confirm what applies to you before you open the account. You can avoid most fees by maintaining the required minimum balance or by setting up direct deposit to your account.
What happens after you open your account
Once your account is open and funded, you can access it through PNC's website or mobile app. Set up online banking by creating a username and password if you have not already done so. You can view your balance, transfer money between accounts, set up bill pay, and manage your account settings online.
If you opened a savings account linked to a checking account (like Virtual Wallet Savings), you can transfer money between the two accounts instantly online or through the app. If you opened a standalone savings account, you can still transfer money to and from external bank accounts, though those transfers typically take one to three business days.
PNC will send you a welcome packet by mail with your account number, temporary access information, and details about your account features. If you requested a savings card, it will arrive separately within 7 to 10 business days. You can start earning interest on your deposit immediately, even before your card arrives.
Frequently Asked Questions
Can I open a PNC savings account if I do not have a Social Security number?
PNC requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open a savings account. If you do not have either, contact PNC directly at 1-800-762-6262 to discuss other options or documentation you may be able to provide.
How long does it take to open a PNC savings account?
Online account opening usually takes 5 to 15 minutes, though identity verification can take up to 24 hours in some cases. In-person opening at a branch takes 10 to 15 minutes. Phone opening takes 15 to 20 minutes. Your account is typically active within one business day.
What is the difference between PNC's savings account types?
The standard savings account has low or no monthly fees and a low minimum balance. Performance Savings accounts require higher minimum balances but pay higher interest rates. Virtual Wallet Savings is linked to a checking account and allows instant transfers between the two. Compare interest rates and fees for each type on PNC's website.
Can I open a PNC savings account if I have had banking problems in the past?
PNC checks ChexSystems, a banking history database, when you open an account. If you have unpaid overdrafts or closed accounts in bad standing, PNC may deny your application. Contact PNC to discuss your situation, or ask about second-chance banking options if available in your area.
Do I need a checking account to open a PNC savings account?
No. You can open a standalone savings account without a checking account. However, some account types like Virtual Wallet Savings are designed to work with a checking account. You can open either type depending on your needs.