You can overdraft PNC Bank account when your balance is too low. PNC Virtual Wallet account offers an overdraft protection for your checking account. When some transaction exceeds your current balance happens overdraft. Bank can decline transaction or your account may fall into negative balance. Mishandling an overdraft may have a tough consequences.
Most often overdraft happens when your account is hit by a large transaction like rent payment that exceeds your limit. Consequences maybe disastrous. This is why you must know how overdraft are handled.
Low Cash Mode gives you extra time of 24 hours to settle overdraft of your PNC balance and deposit missing funds. Otherwise you’ll have to pay a $36 overdraft fee per day. You can selectively apply or reject transactions that overdraft your account using payment control feature.
Overdraft protection can cover ATM withdrawals and other debit card transactions like purchases.
There are few options to handle overdraft of PNC Bank account.
- Use a secondary checking or savings account to cover the overdraft. PNC Bank can transfer money from another account and your balance can stay positive.
- As an alternative, you can use any of your PNC Credit Cards for overdraft protection. For example, if you have a PNC Cash Rewards Card, PNC bank can cover your overdraft. Other cards like PNC Bank Core Credit Card, and PNC Bank Points credit card maybe used too.
- You can also use the PNC line of credit to cover overdrafted amounts. The credit line can easily cover $1,000 overdraft.
If you are OK to have declined transactions, then you don’t need PNC’s Overdraft Protection. However, if you have a credit card with PNC, then overdraft protection will not hurt. In case you want to cover overdrafts by bills, then you can just lock your PNC debit card. Then PNC bank will reject debit card transactions but let bill payments go through. Bills are usually worth covering in case of overdraft.
Here is how to lock your PNC Debit Card.
You can read more about PNC Bank here.