PNC Bank

PNC Eliminates NSF Fees for Customers

PITTSBURGH – PNC Bank announced Thursday it is eliminating non-sufficient fund fees for consumer customers.

The move is designed to enhance the benefits offered through the Virtual Wallet deposit accounts and the Low Cash Mode program launched in April 2021.

“As a Main Street bank, PNC is focused on building a platform that empowers the financial well-being of its customers,” said Alex Overstrom, head of retail banking for PNC. “Over the last several years, we’ve made significant enhancements to our overdraft solutions, all of which are designed to help our customers and give them better control of their financial future. Eliminating NSF fees on consumer deposit accounts is just another way we are helping our customers strengthen their financial wellness.”

Sometimes known as a Returned Item Fee, an NSF fee occurs when a payment transaction is returned due to insufficient funds. The NSF fee had already been eliminated for those customers with Virtual Wallet Spend, but now those with personal checking accounts through PNC will receive the benefit. Virtual Wallet Spend provided options for avoiding overdrafts, while maintaining overdraft availability for those who need to make payments during temporary cash shortfalls.

Copyright 2022 The Business Journal, Youngstown, Ohio.