Improved banking services for new generation

Virtual WalletSM was introduced by PNC Bank, a member of The PNC Financial Services, Group, Inc. as a comprehensive money management and online banking solution for the next generation of banking customers, Generation Y.

With Virtual Wallet customers will be provided on-demand access to manage spending and saving in real time.

Virtual Wallet allows its users to create bill reminders, check balances, see past activities and future payments, mark paydays. Besides they can receive warns of any potential overdraw of the account to help avoid fees and to eliminate worry. With Money Bar a convenient slider tool customers can move money in real-time between Spend, Reserve and Growth accounts; view "free" balances – funds available before next payday. Savings Engine makes it easy and fun to save; customers create a wish list and transfer money via predetermined set amounts or using a fun, customizable widget called "Punch the Pig" to click and transfer cash into a high-yield savings account.

One more feature is Three Accounts In One: a Spend account for every day banking; a Reserve account for short-term savings and overdraft protection; and a high-yield Growth account.

The service has no monthly service charge or minimum balance and customers are provided free overdraft protection, free online banking and bill payment and free use of PNC's 3,900 ATMs.

"Generation Y is a segment of 'firsts' – first car, first home, first child and getting married," Joseph Guyaux, PNC's president and head of Retail Banking. "Virtual Wallet helps this generation accomplish their goals, keeping in mind they are also the first generation to grow up with the Internet."