PNC Bank customers have more convenient options to make deposits, cash checks and complete other transactions with the addition of new features to 3,600 ATMs. The installation of PNC DepositEasysm capabilities on ATMs in every PNC region began in 2012 and was completed this month. The “smart” ATMs, which can be located via pnc.com/depositeasy from among the bank’s 7,200 ATMs nationwide, enable customers to cash checks and deposit stacks of cash or checks without an envelope 24/7, 365 days a year. Justice said customers are increasingly taking advantage of PNC’s investments in services and technology. Prior to completion of the ATM upgrades, deposits via ATMs and mobile app increased to 23 percent of PNC’s total deposits in the second quarter compared to 14 percent last year.
PNC Bank announced that its Virtual Wallet® product has surpassed one million accounts in the latest example of success for the online and mobile banking tool. PNC continues to add new and innovative features to Virtual Wallet. Since 2008, it has updated or enhanced the product nearly 40 times. Last summer, it introduced the popular mobile deposit feature that allows customers to deposit checks using the camera on their smartphone. Virtual Wallet is a visual online banking tool that combines a traditional checking account with long-term and short-term savings accounts. The product is designed to help customers save and spend smarter, and avoid unnecessary fees. Since its launch in 2008, it has quickly become PNC’s flagship retail account.
PNC Bank announced a new mobile banking feature that allows customers to deposit checks using an iPhone, iPod Touch or iPad 2. Mobile deposit is now available to all consumer and small business customers of PNC Bank after its introduction to PNC “Virtual Wallet” customers in April. The new mobile deposit feature arrives as more consumers are choosing online and mobile banking services over traditional options. It is estimated that 40 percent of U.S. consumers will be banking on their phones by 2012 compared to almost none just a few years ago. The customer simply selects the deposit account and the amount, photographs the front of the check and then the back.
Emphasizing it’s goal to offer more choices and better rewards, PNC Bank is making available improved credit card rewards. Targeting its customers, the Bank wants to offer deeper relationships with more rewards because the more they bank with the Company, the more they want to reward them. Additional features allowing them to conjunctively save and better manage include its online and mobile wallet feature, offering real time spending alerts and budgeting controls.
PNC Bank has rolled out the “The PNC Virtual Wallet App” for iPhone and iPod.
“Virtual Wallet”, featuring three accounts combined in one, is a simple
and visual online banking tool built with and for Generation Y to help
them manage day-to-day expenses, plan and save. The features and
functionality match the money mindset and financial lifestyle of this
tech-savvy generation of consumers which include “Weekly View”, an at-a-glance summary of your overall financial
situation for the upcoming week; see balances with the Money Bar and
also the last five transactions; “Tap to Transfer” which allows the user to tap and drag the interactive slider on
the Money Bar to transfer money between accounts; use the roller to fine
tune the transfer amount and”Shake the Pig” to transfer money into
the Growth account. Virtual Wallet can be opened online at www.pncvirtualwallet.com, over
the phone or in any PNC branch.
Diebold has been selected by PNC Bank as the bank’s single source vendor to upgrade hundreds of ATMs and to add new machines in 2007. The new ATMs will feature the “Intelligent Depository Module” (IDM) technology, a utility that allows checks to be deposited directly into the ATM, providing the customer with an image of the check on the receipt and the screen, elimating the need for a deposit envelope. These enhancements are part of a multimillion-dollar investment by PNC during the next two years to improve the advanced functionality of its ATM network. In 1992, PNC led the industry with the installation of Diebold’s first ATMs that featured “IDM” technology that displayed an image of a deposited check on the ATM screen.
Pittsburgh-based PNC Bank has switched its credit card issuer from BofA/MBNA to U.S. Bancorp. PNC will launch a two new credit card programs on September 1st for its consumer and small business customers. The bank will market two cards including the “PNC Bank Select Rewards VISA Platinum Card” and the “PNC Bank Platinum Business Rewards MasterCard.” The new cards will offer 0% on balance transfers (with no fee) and purchases for 12 months. Consumer and business customers opening a new PNC credit card will receive a $50 statement credit with their first purchase. Business card owners can establish cards for all of their employees and have the ability to set spending limits on individual cards. In 1999 PNC sold its entire portfolio to MBNA for a 15% premium. At that time PNC had approximately $2.9 billion and 3.3 million accounts. (CF Library 1/14/99)
Pittsburgh-based PNC has become the first major bank to rebate both fees charged for using another provider’s cash machine — the ATM fee previously charged by PNC plus the surcharge levied by the machine’s owner. The new program will offer access to free ATMs worldwide. For customers who choose “Performance Checking” or “Performance Select Checking,” and “Free Checking” customers who maintain an average monthly balance of $2,500 or more, PNC will automatically reimburse withdrawal fees charged by other ATM owners. PNC’s small business customers will be offered free ATMs and rewards in select accounts, including “Basic Checking” and “Enterprise Checking”. The free ATM program begins September 1st.
PNC Financial Services and First Data announced the five-year extension of their PNC Merchant Services alliance agreement that began in 1996 which includes PNC’s purchase of 20% of the merchant alliance, increasing its ownership to 60%, with First Data owning 40% upon the closing of the transaction. Consideration will include cash and contributed merchant contracts. No additional terms of the deal were disclosed and the agreement is subject to regulatory approvals. Upon closing of the transaction, PNC will consolidate the merchant alliance for financial statement purposes. The PNC Financial Services Group, Inc. is one of the nation’s largest diversified financial services organizations providing consumer and business banking.
Toyota Financial Services insurance division has developed a a new claims handling and payment process that utilizes a credit card issued by PNC Bank. “ActivePay,” powered by Works Operating Company, offers an integrated online payment solution that connects payment management with VISA’s global payment network, allowing commercial credit cards to be used as a payment of choice. Under the program, TFS assigns each claim a unique “ActivePay” card number when either a repair shop or non-affiliated auto dealership requests approval for repairs covered under TFS’ vehicle service agreements. TFS can electronically document the service center name and the type of approved repair, and then assign an exact dollar amount to that specific credit card number. This establishes the credit card’s limit. When the credit card payment transaction is submitted by the repair facility, PNC Bank’s “ActivePay” card system automatically reconciles or matches that information to the approved claim amount. The claim is automatically processed if the service center name, repair type and dollar amount match; exceptions are manually reviewed.
PNC’s PFPC, the nation’s largest full-service mutual fund transfer agent and second largest provider of mutual fund accounting and administrative services, is now offering customers the ability to deposit funds into brokerage accounts via ATMs that accept deposits within the “STAR” and “NYCE” networks. This service allows cardholders to deposit funds in the form of a check at any one of the participating ATMs. By using electronic records, firms can speed the processing period for deposits.
Pittsburgh-based PNC Bank launched a special “VISA Check Card” for the Philadelphia Flower Show this week that donates $5 of the $10 card to the Pennsylvania Horticultural Society. When a customer selects a Philadelphia Flower Show Check Card, $5 of the $10 fee will be his or her donation to the Pennsylvania Horticultural Society.Â Proceeds benefit the society’s neighborhood revitalization program, Philadelphia Green.Â This is the first time PNC Bank has issued a check card to support a non-profit cultural institution.