PNC Bank and Georgetown University have inked a deal that would allow students to sign up for a PNC account and receive a debit card that can also double as a student ID. Called “GOCards,” cardholders use the card as they normally would, whether its to enter campus facilities or to pay for purchases at the mall.
The bank has three ATMs on campus. PNC also provides on-campus personal-finance workshops.
PNC is the biggest U.S. bank to offer a free checking account with no strings attached. It also offers the Virtual Wallet account, a comprehensive account that focuses on money management. As part of the deal with Georgetown, students get their first overdraft fee waived.
With the Credit CARD Act of 2009 preventing banks from marketing credit cards on campus, deals with colleges are another way for banks to target the next generation of consumers.