Q:

How do you utilize a PNC virtual wallet?

A:

Quick Answer

Utilize a PNC Virtual Wallet by opening an account at PNC Bank and using the included Virtual Wallet Visa Debit card to make purchases. Virtual Wallet is composed of three different services: Spend, Reserve and Growth, and all three work together to help control spending and save money.

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Full Answer

The Spend account is a primary checking account, and it is set up for everyday spending and living expenses. Use the Virtual Wallet Visa debit card to make purchases, which instantly are deducted from the primary checking account. This is the recommended account to use for paying bills by check or through online bill pay services, and the account works in conjunction with the Reserve account. Most of your transactions are likely to involve this account.

The Reserve account is for short-term savings and functions as an overdraft protection account. If you are at a risk for overdrawing on the Spend account, the money from your Reserve automatically gets transferred to the Spend account.

The Growth account is a long-term savings account that also acts as your secondary overdraft protection account. There is a competitive interest rate attached to the account, as of 2015, so you can build the account for life-changing events and purchases.

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