PNC Bank International Wire Transfer

pnc bank international wire transfer

The PNC is one of the largest and most popular American banks that has numerous branches all over the world. Apart from being the 5th biggest bank in the USA, The PNC is also the 4th largest bank in the world in terms of ATM network. If you’re looking for the best deals, you need to consider choosing PNC Bank. 

Even though there are other providers available that will help you with your money transfer requirements, only a few of them are as fast and relatable as the PNC bank. In this blog, we will discuss everything you need to know about the PNC bank international wire transfer. 

Bank Name PNC 
Full Name Provident National Corporation 
Headquarters United States
Services Retail banking, including residential mortgage, corporate and institutional banking, and asset management

Why You Should Choose the PNC Bank International Wire Transfer?

Many people often assume that choosing other transfer providers over the PNC bank might prove beneficial for them. However, they come to this conclusion because they don’t know the proper effectiveness of the PNC bank. Here are the reasons why you should choose PNC Bank international wire transfer. 

  • The service is not only reliable but also extremely fast. If you’re facing an emergency situation, you won’t face any problems transferring your money internationally with the help of the PNC bank. 
  • Sometimes you might not be able to under the process correctly. In such cases, you can visit the banks and that will undoubtedly help you. 
  • The money you send will arrive directly in the bank account of the recipient. 

Also Read: Citibank International Wire Transfer 

How Does PNC BANK International Wire Transfer Help Students?

PNC International wire transfer can help students in several ways. Here are a few examples

  • Paying tuition fees: International students often need to pay tuition fees for their studies, and PNC International wire transfer can provide a safe and convenient way to make these payments to universities and colleges located in different countries.
  • Receiving funds from home: International students may need to receive financial support from their families or sponsors located in their home country. PNC International wire transfer can enable the transfer of funds from one country to another, helping students receive the support they need to cover their living expenses and other costs associated with their studies.
  • Study abroad programs: PNC International wire transfer can also help students participating in study abroad programs by providing a secure and efficient way to transfer funds between countries. This can enable students to pay for their living expenses and other costs associated with their study abroad program without having to worry about currency exchange or other logistical issues.
  • Online course payments: With the rise of online courses, students may need to pay for courses and materials in different currencies. PNC International wire transfer can enable students to make these payments conveniently and securely, regardless of their location or the currency being used.

How Much Transfer Fees Do You Need to Pay?

This is one of the most crucial pieces of information you need to know about PNC Bank international wire transfers. The transfer fees will vary depending on the payment you make as well as the route you choose. For instance, if you choose a self-service route, the transfer fees will be different than choosing a bank employee. Not to mention, the destination country of the transaction and the amount will also be taken into account. 

The PNC bank international wire transfer fees will be implemented during the time of standard account checking. The account type you have will also impact the overall transfer fees. Hence, make sure you check the terms and conditions of your account. 

International Wire Transfer PNC Transfer Fees 
Agent assisted outgoing wire USD 45 (INR 3.7K)
Incoming international wire USD 15 (INR 1,231)
International money transfer USD 5 (INR 410)
Self-service outgoing wire USD 40 (INR 3.2K)

Remember that the international money transfer option from the PNC bank will be available only in selected countries as well as regions. 

What is the Exchange Rate FOR PNC INTERNATIONAL WIRE TRANSFER?

When you choose your payment option at a proper PNC branch, you will receive a notification regarding the PNC bank international wire transfer exchange rates. Keep in mind that the processes of exchange fees implemented by the banks for international money transfers won’t be the same as the rate you will receive from the currency converters. 

This is because the banks will also include a markup charge when you trade the currency as per the global market. Regarded as a margin, thus markup rate will vary depending on the bank. Here’s the markup rate of the PNC bank when you want to transfer money:

  • When sending USD 1,000 (INR 82K), the markup rate would be USD 30 (INR 2.4K). 
  • When sending USD 5,000 (INR 4.1 lakh), the markup rate would be USD 150 (INR 12.3K). 
  • When sending USD 50,000 (INR 41.1 lakh), the markup rate would be USD 1,500 (INR 1.2 lakh). 

Also Read: What Is SWIFT Wire Transfer?

How Long the Process Will Take When You Choose PNC Bank International Wire Transfer?

The time taken for the payment to arrive in the recipient’s account will depend on a couple of factors:

  • The overall value of the transaction 
  • The destination country 
  • The speed of the bank process of the recipient 

Keep in mind that the bank might send your money through the SWIFT network. In such specific cases, it might take more than 5 days for the money to arrive.

What Pieces of Information Do You Need to Transfer Money with the Help of PNC Bank?

If you face problems sending your money internationally, a member of the PNC team will assist you. But you need to make sure you’re providing them with the proper information regarding the recipient. Here are the important pieces of information you need to provide:

  • The bank account number of the recipient 
  • The name as well as address of the recipient 
  • The BIC or SWIFT code of the recipient’s bank
  • The bank name and address of the recipient
  • Some country-specific details

How Can You Receive Money with PNC Bank?

You will be able to receive international wire payments directly to your bank account. Here are some essential pieces of information you need to provide to the sender so that they can send the money to your bank account without any problems:

  • Make sure you provide the correct bank account number 
  • Your full name as per bank account 
  • Proper bank address 
  • Proper routine code 

Also Read: How to Transfer Money Using IBAN?

How to Open a Bank Account FOR PNC International WIRE Transfer

Opening an account is quite an easy procedure. The following are the steps to open up a bank account:

Check Eligibility 

First of all, the customers are required to check the requirements of the country of their choice 

Gather All your Personal Details

The following are the documents required to open a PNC bank account:

  • The number assigned by Social Security Administration
  • Personal info like name and address
  • Details of any other existing account if you will be transferring funds from another bank
  • Government Issued Identification

Apply Online 

The bank generally enables the customer to open an account using online forms or you can also visit the nearest local branch.

Pros and Cons of Transferring Money Abroad with PNC

Here are some pros and cons of transferring money abroad with PNC

Pros Cons 
PNC is a well-known and reputable bankPNC Bank charges fees for international wire transfers
Customers can initiate international wire transfers onlinePNC Bank may not support all currencies
Payment directly comes into the Receipts account International Transfer takes up to 5-day 

FAQs

Q1. Does PNC Bank allow international wire transfers?

Ans. Both domestic as well as international wire transfer from the PNC bank offers different types of payment options. 

Q2. How long does an international wire transfer take PNC?

Ans. Most international wire transfers take at least 6 weeks to be transferred. 

Q3. Does PNC have a limit on wire transfers?

Ans. Whether you want to send money domestically or internationally, you won’t need to worry about the maximum limit. 

About Biprojit Chakraborty

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