Description: The article is about pnc login. The PNC provides a new product for Generation Y and Millennials. There are three components of the virtual wallet account. First you have the spin function. The second is going to be called a reserve. The third function is the growth.
Banks have been trying to get young people to take better care of their finances for years. Now a local bank has a new product that it thinks will help young people particularly Generation Y and Millennials pay closer attention to their savings and their finances. It’s the PNC Bank virtual wallet and it combines three accounts,a spending account,a reserve account and a growth account for longer-term purchases into a single online virtual wallet.
PNC developed virtual wallet because we’re committed to make it easy to do business for all of our customers. Gen Y specifically is the mass market of the future. It’s the first generation to grow up with the internet. There are seven million in the markets in which PNC operate. We’re trying to respond to the unique ways they want to do business.
The virtual wallet has the added advantage of allowing customers to access their money from anywhere,from a phone,from their laptop or from a desktop computer through any web browser. I think virtual wallet is different because you can access your information from anywhere.
If I’m standing at a checkout line and I want to know how much money is in my account,I can pull up my phone and it’ll tell me. Bank officials say Generation Y customers are more interested in managing their finances online rather than visiting a branch. The virtual wallet lets them do that.
I think virtual wallet is right for Gen Y because it was designed from the ground up with them in mind. We believe it fits the mental mindset of the way that they look at money. It’s about spending,saving and growing your money and it’s designed for them. We call it the high definition view of their money. We think that PNC is the first bank to get Gen Y.
At the cherry hill branch of PNC bank on route 70 Elton,branch manager Donna Ackerman explained the three components of the virtual wallet account. It’s one solution with three separate functions. First you have the spin function. That’s going to be your regular deposit account. It is the account that you’re going to pay bills out of,it’s the one where you use your debit card purchases.
Your first function is to spend. The second is going to be called a reserve. It’s an account that is an interest-bearing account anything left over from the spend you can setup to automatically go into the reserve. Reserve can be four things,short-term,ipod,new phone,anything that you can see that you might have a need for but aren’t the greatest at saving.
That’s the account you want to put start putting money into to get to that next level. The third function is the growth. Growth account is going to be house car or college tuition. Those are big things that you’re saving for. That’s going to be a high interest. Bearing account up to twenty-five thousand dollars is where we’re going to give you that higher interest rate.
They give you your spend account available balance and your reserve account available balance. Now you might say to yourself from the calendar,I have an extra six dollars in my spend account and I am looking to get this ipod, why don’t I take that six dollars and put it over into the reserve? I moved seven dollars into my reserve account.
PNC bank officials say the technology involved in the virtual wallet makes it fun to use. We have a little program that we’ve designed with it called punch the pig. You can set up your own pig. You can make it orange,you can make it green. We can change our Pig to green.
We can make it do anything. I can make an applause. You can set it up so that every time you punch the pig,you’re going to have an automatic transfer into each account. I’m going to transfer money from my spend account to the growth account.
Donna says the virtual wallet is attracting attention not from young customers but from many of their customers. If I’m speaking with a customer and someone else is listening,that customer comes over to find out what I’m talking about. So I’ve never had a banking product that happened with before. If Sharon is speaking to someone about virtual wallet,you can see people in the teller line turning around and asking what is that.