PNC virtual wallet credit card linking—a convenient way to manage your savings!

Managing your finances can be a challenging endeavor. PNC understands this, and that is why they have developed a digital money-management platform called PNC virtual wallet. This app packs a ton of useful features that can assist you with saving money, budgeting, analyzing your spendings, etc. Note that, depending on the state you live in, fees and services may vary.

PNC virtual wallet even allows you to link your credit card to the app in a few simple steps.

If you are looking for an option that will allow you to tidy up your spendings meticulously, PNC’s virtual wallet is the way to go.


How to link a PNC credit card to the virtual wallet?

There are many reasons to link your PNC credit card to the virtual wallet. Among other features, you would gain access to:

  1. Calendar—allows you to analyze dates and balances, spending accounts, as well as other vital credit card information
  2. Alerts—provide a safe way to stay on track with your credit card usage
  3. Spending Zone—enables you to better understand your spendings through sorted and categorized credit card transactions

To link your PNC credit card to the wallet, you have to:

  1. Open your PNC virtual wallet
  2. Click on the Preferences tab
  3. Select Account Setup
  4. Under Credit card currently included, select edit
  5. Add your new and eligible PNC credit card to the virtual wallet

Getting a PNC virtual wallet

Getting started with your virtual wallet journey does take some time, as the process of opening an account is a bit time-consuming. These are the steps you would need to take:

  1. Visit PNC’s website and click on Get Started
  2. Provide the required information such as your full name, social security number, residential address, date of birth, etc.
  3. Choose to receive your PIN code via mail, or indicate the one you would like to use for your account
  4. Provide information on the external account you would like to use to fund your virtual one. Keep in mind that you will have to deposit $1 to activate it
  5. Lastly, download the PNC virtual wallet app to manage your account while waiting for the virtual wallet debit card to arrive in the mail

Basic overview of the PNC virtual wallet

To better understand how PNC’s virtual wallet works, let us run through the basic information you will need, such as interest rates, ATM access, minimum deposit, etc.

Fees

●     $7 for the Basic package

●     $15 for the Performance Spend package

●     $25 for the Performance Select package

Minimum deposit

To be able to open a PNC virtual wallet, you will have to put down a deposit of $25 or higher ($0 if you do it online)

Monthly transaction limits

You are allowed to make six transactions each month through your PNC virtual wallet

Annual Percentage Yield (APY)

Including relationship rates, standard fees are 0.01% on balances of $1 or higher

Waiving fees

There are ways to waive your monthly fees by:

●     Being over 62

●     Being a student of an eligible educational institution

●     Sustaining a combined balance of $500 across your checking and savings each month

●     Depositing $500 each month to your savings account

ATM access

From the Basic package upwards, you gain free access to over 9,000 PNC ATMs

What about virtual credit cards?

Instead of  PNC’s virtual wallet or other mobile wallets, many people decide to opt for a virtual credit card.

VCCs are basically digital replacements for standard credit or debit cards. They have become extremely popular due to their improved data security. Namely, when an issuer provides you with a virtual credit card, it is randomly generated, and in most cases, linked to a single online transaction. Some issuers, like DoNotPay, do not even require that you link your static card with the virtual one.

Virtual credit cards come with a plethora of benefits, such as being able to set a maximum charge limit on your card, locking it to a single merchant, stopping unauthorized charges to your account, and many others.

Pros and cons of virtual credit cards

Whether virtual credit cards will work for you or not depend entirely on your needs. Before you make your final decision, take the following advantages and disadvantages of VCCs into account:

Pros

Cons
You can use a virtual credit card to set up a recurring monthly payment plan

VCCs can only be used for online purchases

You can set a maximum charge limit on your virtual credit card

You cannot withdraw cash by using a virtual credit card
You can lock your virtual account to a single online retailer

In some cases, you will have to manually enable eCommerce services on your VCC

In case a website gets hacked, your personal information stays protected

You can use a virtual credit card to stop unauthorized charges to your account

Unlike physical credit cards, VCCs do not reveal your personal information

PNC virtual wallet options

Depending on what you need, there are four different packages to choose from:

  1. Basic PNC Virtual Wallet—Includes free access to over 9,000 PNC ATMs and checking and savings account for a $7 monthly fee
  2. Virtual Wallet with Performance Spend—$15 per month to acquire, and you can earn interest on your two-in-one checking and savings account
  3. Virtual Wallet with Performance Select—Comes with reimbursements for all ATM fees, highest interest rates, and free add-on accounts for $25 per month
  4. Virtual Wallet Student—Includes two ATM fee reimbursements per month, no monthly fees, and an interest-bearing combo account

DoNotPay’s virtual credit card—a better alternative?

If you are looking for a safe way to make online transactions, DoNotPay’s Free Trial Card might be the one for you. Our app does an amazing job of preventing fraudulent merchants from charging your account with subscription fees you did not agree on.

To gain access to our free services, you just have to open DoNotPay through a web browser.

You can pick any available card number, security code, and CVV for your new virtual card.

In terms of security, we really go the distance and even provide you with a temporary email address. This address serves the purpose of stopping shady merchants from putting your real email on spammy marketing lists. Of course, we will forward all new messages directly to your genuine email address to help you stay in touch.

All of our virtual credit cards work on a short-term basis, meaning that they are linked to single transactions. For example, you can use our VCC to authorize a free trial subscription, but as soon as the transaction gets verified, the card will stop being valid. This way, the provider will not be able to charge your account when the billing date comes.

Here are all the things our Free Trial Card can do for you:

  1. Generate a random credit card number
  2. Automatically approve billing pages and free trials
  3. Cancel subscriptions on your behalf
  4. Stop unauthorized subscription charges to your account

Virtual wallets vs. virtual credit cards

Probably the biggest downside of virtual wallets is the fact that they are not as widely accepted as virtual credit cards are. That being said, these two digital payment methods have a few things in common, like improved data security and hassle-free online payments.

Mobile wallets, like PNC’s virtual wallet, are apps that you can use to manage your spendings safely and securely. What sets virtual wallets apart—besides the fact that there is no risk of dropping your wallet somewhere—is that they can be used for both online and offline payments. Plus, you can use your virtual wallet to withdraw cash, which is not something virtual credit cards are capable of providing. While VCC issuers mostly provide virtual card services for free, virtual wallets can be costly due to included processing fees. To understand their differences better, let us compare these two contraptions:

Virtual credit cards

Mobile wallets
Cannot be used for cash withdrawal

Can be used for cash withdrawal

Can be used for online purchases only

Can be used for both online and offline purchases
Mostly free of charge

Include processing fees

Cannot store additional documentation

Can store additional documentation such as loyalty cards and driver’s licenses

Virtual wallet upsides

If convenience is what you are after, virtual wallets might be the right choice for you. The biggest advantages of mobile wallets are:

  • Verifying a transaction is easily done through your device’s biometrics or a PIN code
  • You can make offline and online purchases with virtual wallets
  • You can withdraw cash from your mobile wallet
  • E-wallets can store other documentation such as your driver’s license or loyalty cards

Virtual wallet downsides

While mobile wallets may be flexible and convenient to use, there are certain shortcomings you should be aware of before deciding to use one:

  • Not all stores support virtual wallet payments yet
  • Your phone needs to be charged and with you to be able to use your virtual wallet
  • Mobile wallets often come with costly processing fees that can make them more expensive than credit cards

Virtual credit card upsides

It is no wonder that virtual credit cards are more commonly used than virtual wallets when you take the following benefits into account:

  • All online stores that support credit card payments support VCCs
  • You can set a maximum charge limit on your virtual card
  • You can lock your virtual card to a single online retailer
  • You can use a VCC to set up a recurring monthly payment plan
  • In case of a data breach, your personal information is not compromised

Virtual credit card downsides

VCCs are one of the safest payment methods you could settle for, but that does not mean that they do not come with a few drawbacks:

  • VCCs can only be used for online purchases
  • In some cases, you will have to manually enable eCommerce services on your VCC
  • You cannot withdraw cash with your virtual credit card

Looking for a virtual credit card?

A lot of major American banks and third-party companies provide virtual credit card services to their customers. If you have found out that PNC’s virtual wallet does not suit you, you can turn to the following VCC issuers for a solution:

VCC issuer

Service details
DoNotPay

DoNotPay’s Free Trial Card puts a stop to unauthorized subscription charges to your account. Our services are completely free of charge, and we will not ask you to link your physical credit card with the virtual one. We will even provide you with a temporary email address so that your real one does not end up on shady email lists!

American Express

Amex offers a neat solution to businesses in need of virtual credit card services. Through their American Express Go program, you can claim a virtual credit card and share it with your team. Every employee will have the option to add funds to the card if need be. Business owners often opt for the American Express Go program as it is an effective expense management solution.

Citibank

To get access to Citibank’s virtual credit card services, you have to log in to your account and select enroll. Much like DoNotPay’s virtual card, Citibank offers short-term VCC accounts that can be used for single transactions only. If you need a virtual card to use for recurring payments, Citibank might not work for you.
Capital One

Capital One provides VCC services through its digital assistant called Eno. What is amazing about it is that you can install Eno as a web browser plugin that will automatically pop up during check out and ask you if you want to use a new virtual card for the upcoming transaction. Keep in mind that setting a maximum charge limit is not available with Capital One’s virtual credit cards.

Putting your virtual credit card to good use

Virtual credit cards are not just a safe way to make online payments. These apps sport a lot of different features, such as:

  1. Canceling free trials before they turn into paid subscriptions
  2. Locking your virtual account to a single merchant
  3. Setting a charge limit on your virtual credit card

Making the best of a free trial with DoNotPay

DoNotPay does a great job of tackling the issue of unauthorized charges to your account. Many websites provide free trial periods to test out their services, but when the billing date comes, they readily charge you with the subscription fee without your consent.

Through our app, you can generate a random account number that will approve the free trial, but as soon as the website tries to charge you with the subscription fee, the transaction will get declined. With DoNotPay, you will finally be able to enjoy free trials as a cost-free experience. Here are a few services that you can subscribe to with DoNotPay:

  • Hulu
  • Twitch
  • Amazon Prime
  • Netflix
  • Adobe
  • Starz
  • CBS All Access
  • Tidal
  • Showtime
  • Postmates

You decide who charges your account

Another useful feature of virtual credit cards is that you can lock your account to a single online retailer. By doing this, you prevent other fraudulent merchants and hackers from charging your account if they get a hold of your information. This feature also comes in handy when you have found a reliable provider to purchase services and products from each month.

You decide how much you will get charged

Some VCC issuers allow you to set a maximum charge limit on your virtual credit card. Since it is not unusual to find unexpected and unauthorized charges on your credit card statement, this feature truly makes a difference. Let us say that you are paying $10 per month for a particular subscription. You can set the charge limit on your VCC to $10 and automatically prevent shady marketers from overcharging your account!

Are virtual credit cards that different from static credit cards?

In terms of security, yes. But there are many other reasons to consider making the transition to virtual credit cards:

Virtual credit cards

Physical credit cards
Keep your banking information hidden

Reveal your banking information

Stop you from losing money

Lose you thousands of dollars
Prevent unauthorized charges to your account

Allow unauthorized charges

Protect your information in case of a data breach

Compromise your information in case of a data breach

Defying what is possible with DoNotPay

Until we came along, the digital assistant landscape was very sparse. DoNotPay’s app introduced a number of useful features that can help you deal with stressful tasks in no time and with zero effort. Here are all the things DoNotPay can aid you with: