Billboards and new advertisements have been popping up all over the greater St. Louis area to advertise a new modern bank. National City is now PNC Bank. The Green buildings that once stood throughout Missouri are now bright blue with white letters and a small orange emblem that represents their new modern banking accounts. Although PNC acquired the Cleveland based National City Bank in October of 2008, PNC did not start changing their building fronts in the Midwest until the Summer of 2010. The acquisition helped PNC double in size to become the 6th largest bank in the U.S. and they will continue to grow with the type of accounts they offer. PNC has geared their bank to a whole new modern way of banking that is absolutely incredible.
One of the best features of PNC for the average account holder is the new modern style bank account offered. In an effort to really serve their customers, PNC took a survey of all of their existing customers to find out what they really wanted from a bank account and then they actually listened to their customers feed-back. The PNC Bank, Virtual Wallet account was the result of that survey. The Virtual Wallet account offers everything the modern banker needs to manage their money.
When you open a Virtual Wallet Account, you are opening 3 bank accounts in one step. The three accounts include: a Growth Account (to generate interest for long term saving), a Reserve Account (a place to store most of your funds), and a Spending Account (where you place your money to pay bills). Most people bank this way in their mind if they just have a checking and a savings account. The Virtual Wallet makes it easier to pay bills and plan for the future.
A savings account is where most people put their investment for the future. But not all savings accounts generate interest. With PNC’s Virtual Wallet Account you are assured some interest, which makes it worth paying yourself first and holding some funds in the bank for those rainy days.
The Spending Account and the Reserve Account at PNC work hand in hand like a normal checking account but separates your bills from your available funds. The way these two accounts work together is amazing. Most people with a checking account are thinking about two things, “How much money do I have in the bank?” and “What bills do I need to pay?” In using the Virtual Wallet Account, account holders can see the answer to those two questions at the glance by signing on to their personal and secure Internet banking website.
A Reserve Account holds the majority of a depositor’s initial funds. This is a great place for automatic deposits like that which most employers offer. The Reserve Account is like a holding cell for funds until they have a purpose. Once in the Reserve Account, funds can then be easily transferred to the Growth Account for savings or to the Spending Account, for bill pay and daily purchases. Most people separate their funds like this mentally but with a traditional checking and savings it can get very complicated trying to figure out what portion of your funds in the checking will be used to pay bills and what portion is left for other things.
At PNC bank, they go one step further by helping you sort your funds physically into three accounts. The Spending Account tracks spending, The Growth Account holds money saved, and the Reserve Account is how much is left over. This type of account allows an individual to make financial decisions much easier because they can focus on what is left in the Reserve account after money is taken out for bills and savings.
The best thing about this modern account is not only the way it is set up, but the way it can be managed on line. By signing into a personal and secure banking website, a person can manage their finances in a whole new way. The Virtual Wallet has an entire bill paying system that allows bankers to set up and track payments on their monthly bills. The website features a calendar that shows when a bill will be paid. The bank will even print a check and have it securely mailed to any designated party the day the bill is due. Funds can be allocated to pretty much anything or easily transferred between the Spending, Reserve, or Growth Accounts.
Individuals who are shopping for an easier way to manage finances will love what PNC has to offer. The Virtual Wallet is the most modern type of bank account in existence to date. The account empowers those who are not extremely good with managing their funds mentally and provides a more detailed look at spending for those who are meticulous with their budgeting. It is about time the traditional way of banking evolved with the rest of the world.
On June 24, 2010, the PNC Bank on Cave Springs in St. Charles, Missouri held their grand opening, which was a huge success. (View photos of the Grand Opening: CLICK HERE). The St. Charles Chambers of Commerce attending the event, promoting the bank with an official Ribbon Cutting Ceremony. There was a huge turn out from the community. Local business owners were networking while residents gathered information about the new PNC accounts and financial services.
On July 9, 2010, the PNC Bank located at 750 First Capital in down town St. Charles will have their Grand Opening. They will have knowledgeable banking specialists available to anyone with questions about their accounts and services. The event will include a Bounce House for children and a dunking booth where you can “sink the bank manager.” Food and drinks will be provided for anyone stopping by. Many local residents will be there on their lunch break and NewsByElle.com will be covering the event with photography and an article about the results of the event. PNC BANK LOCATIONS IN ST CHARLES MO.