FACT CHECK: Will Coins No Longer Be Available At PNC Bank Beginning October 2022?

Christine Sellers | Fact Check Reporter

A post shared on Facebook purports coins will no longer be available at PNC Bank beginning October 2022.

Verdict: False

There is no evidence suggesting the bank will no longer issue coins. A spokesperson confirmed that all branches of PNC Bank will continue to accept coins.

Fact Check:

PNC Bank announced that it had eliminated non-sufficient fund fees (NSF) on consumer deposit accounts in an Aug. 11 press release. The bank previously implemented the measure for customers who use Virtual Wallet Deposit accounts in April 2021, according to the same release.

Now, a Facebook post purports that coins will stop being available at PNC Bank starting in October. “We were told all the Banks will soon begin to turn in their coins to the Gov’t and will no longer be available to the public or to a business,” the post reads in part.

The post then alleges that removing coins is the first step to a “cashless society” where the government will be able to control every aspect of its citizens’ lives and monitor their spending habits.

The claim is baseless. There are no credible news reports to support the claim. Likewise, there is no evidence to suggest that coins will stop being available at PNC Bank on their website or verified social media accounts. (RELATED: Is Starbucks Going Cashless In October 2022?)

“I can confirm that PNC does and will continue to accept coins in our full-service branches across the country,” Marcey Zwiebel, a PNC Bank spokesperson told Check Your Fact in an email statement.

This is not the first time a false claim about currency has circulated online. Earlier this month, Check Your Fact debunked an Instagram video that alleged a recent executive order would replace cash with digital currency by December 2022.

Christine Sellers

Fact Check Reporter

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