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PNC Financial

PNC Financial Services Group is a bank holding company and financial services corporation. It’s banking subsidiary, PNC Bank, operates in over 21 states and is one of the largest financial institutions in the United States.

If you’re thinking about opening an account with PNC bank and transferring money, we’ve covered everything you need to know plus the pros and cons of this financial institution in this guide.

Additionally, in case you would like to send money internationally, we will cover the PNC exchange rates and we will find out if it is a good option in comparison with online money transfer providers.

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About PNC Financial

PNC bank is one of the largest banks in the United States. It is listed as the 5th largest bank by the number of branches across the country, and 4th largest in number of ATMs (with a total of 9,051 in the United States).

The bank operates in 21 states and has over 2,200 branches, providing financial services as well as wealth management, loan servicing, asset management and also, it provides foreign currency exchange services with live access to the PNC exchange rates.

PNC Financial exchange rates and fees

When sending an international transfer, the two main costs you are likely to encounter are:

  • The margin added onto the exchange rate by your bank.
  • Money transfer fees,

These fees can significantly affect how much your recipient ends up with, so it’s important to do your research and inform yourself on the type of charges to expect.

The PNC exchange rates can vary so it is better to check them for example by visiting their website. However, the margin they add to the exchange rate is not always provided until you go ahead with your international bank transfer.

PNC Exchange rate

PNC does not explicitly state what kind of markup they add onto the mid-market exchange rate, but the PNC exchange rates are updated on a daily basis, based on “prevailing market conditions”. You will be given the PNC exchange rate for a particular day when you set up your international money transfer, but it is safe to assume that you will not be given the mid-market rate you see on Google, for example. 

Here are some popular PNC currency exchange rates that people search the most:

  • PNC pound to euro exchange rate
  • PNC euro to Us dollar exchange rate

PNC Transfer fees

Apart from the PNc exchange rates, you should consider the PNC bank transfer fees. PNC Bank’s transfer fees for wire transfers are as follows:

  • Outgoing domestic transfers: $30.00
  • Outgoing international transfers: $45.00

Additional costs

If you are receiving an international money transfer, there is a fee of $15.00. You should also be aware that you may be charged additional transfer fees by the receiving bank, which should be factored into the total charges for your international transfer.

How do bank transfer fees compare to using a money transfer provider?

Paying up to $45.00 in transfer fees plus a potentially high markup on the PNC exchange rate could result in your recipient receiving much less of your transfer than you intended. You are more likely to find the most cost-effective way of sending money with a specialist money transfer provider, which you can compare here today.

PNC pros and cons

Pros
No transfer limit: PNC has no maximum transfer limit, which is ideal for anyone looking to send a large sum of money abroad.
Secure method of transfer: Wire transfers are a safe and secure way of sending money internationally.
Cons
In-person transfers only: You need to visit a PNC branch in order to make an international wire transfer, which is inconvenient for many.
High transfer fees: You can expect to pay up to $45.00 for an international wire transfer, which is much more than you might pay with a money transfer operator.

PNC Financial Swift Codes

BankCountryCity
Pnc Bank Na Nassau BranchBahamasNassau
Pnc Global Investment Servicing Europe LimitedIrelandDublin
Pnc International Bank LimitedIrelandDublin
Pnc Bank NaUsaEast Brunswick Nj
Pnc Bank NaUsaPhiladelphia Pa
Pnc Bank NaUsaPittsburgh Pa

Answers to key questions about PNC Financial

In this section, we’ve addressed a few key things you might need to know about transferring money with PNC and setting up your account.

Can I open a PNC bank account in any country?

You can open a PNC bank account online (provided you have all the required documents/identification with you) so you should be able to set up a PNC account in any country – although the bank may have country restrictions and you may not be able to receive your new debit card in the post.

Does PNC Financial have an app?

Yes, PNC has a free mobile banking app available on both Apple and Android devices. The app allows 24/7 access to your bank account and PNC products and services, including transferring money and paying bills.

Are there transfer limits?

PNC doesn’t have any maximum sending limits for international transfers, which is great news for anyone looking to send a large amount of money overseas. However, the bank does have a minimum limit of $100 for international transfers.

How long do transfers take with PNC Financial?

Domestic transfers with PNC will typically be processed on the same working day, or if you miss the cut-off day, the next business day. However, international transfers can take a little longer – closer to 2 – 3 working days to process.

What customer support options are available?

PNC has a helpful customer support centre that addresses many frequently asked questions and should be your first port of call for assistance with your account. You can also contact the bank via 1-888-PNC-BANK (762-2265) or Tweet their support team.

Does PNC bank exchange foreign currency?

Yes, PNC offers foreign currency exchange services. However, you should check the PNC foreign currency exchange rates first.

Can I use a PNC debit card when travelling abroad?

Yes, you can use your PNC card for travelling abroad, but let your local branch know before you set off to avoid having your card blocked or frozen when using it abroad.

How to open an account and transfer money with PNC Financial

Opening an account

You can open a PNC bank account either online or by visiting your local branch. When setting up your account, you’ll need to first select the savings/checkings account that best suits your needs, and then provide:

  • Your basic contact details such as name and address
  • Social Security number
  • A government-issued photo ID such as a driver’s license or passport
  • Any existing account details if you’ll be transferring funds from another bank

Transferring money

International wire transfers must be initiated via a PNC branch, so unfortunately you can’t send your transfer via online banking at this point in time. To transfer your money:

  • Visit your local branch and request a ‘Wire Transfer’ form (or ask a member of staff to assist you in setting up your transfer)
  • Fill out the form, including your own bank account information and that of your recipient plus the foreign currency you want your US dollars to be converted to and return it to one of the bank tellers.
  • Get your receipt for the transfer once it has been processed

Summary

Overall, PNC Bank is a reliable and secure financial institution to manage your money and use for a number of financial services, from paying your bills to sending money to people within the United States.

However, when it comes to international transfers, you will find lower fees, fairer exchange rates, and faster transfer times by using a  specialist money transfer operator. Our comparison tool will provide a real-time breakdown of the best money transfer provider for you.

April Summers

April is a trained journalist and the Content Editor for MoneyTransfers.com. She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she’s not writing about global remittances she can be found daydreaming about her next holiday abroad.