PC Financial PC Financial: Get the New PC Money Account and Earn PC Optimum Points Anywhere You Shop Earn PC Optimum Points with the PC Money Account!

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Earn PC Optimum points wherever you shop with a new bank account from PC Financial, because they've launched their new PC Money Account and you can apply online now!

The PC Money Account is a self-serve everyday banking account with unlimited transactions, no minimum balance, no monthly fees and integration with PC Optimum -- one of the most popular loyalty programs in Canada. The account is similar to a conventional debit account, but cardholders can only make payments wherever Mastercard is accepted and cheques cannot be written or deposited.

The most notable feature is its integration with PC Optimum, as you'll earn 10 PC Optimum points per dollar spent anywhere, including online. We've listed a few other PC Optimum bonuses below.

  • 10 PC Optimum points per dollar spent anywhere you shop
  • 25 PC Optimum points per dollar spent at Shoppers Drug Mart
  • 1000 PC Optimum points for each monthly bill payment over $50.00 (maximum of five per month)
  • 10,000 PC Optimum points on your first purchase over $50.00 (one time only)
  • 10,000 PC Optimum points when you link an external bank account (one time only)
  • 25,000 PC Optimum points when you setup direct deposit (one time only)

The PC Money Account is the first bank account from PC Financial since their partnership with CIBC ended in August 2017. Since then, they've only offered a lineup of PC Financial credit cards.

Enrollment is available now online or through the PC Financial Mobile app (Android, iOS) -- click here to learn more about the PC Money Account.

1655 Comments

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    • That will be awesome. More competition in no fee banking is always good.
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    • Motus is coming up too :D
      awesome sauce
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    • I wonder if they'll have High Interest Savings account as well ... and not just Chequing account.
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    • Points for purchases and paying bills. :O
    • Report Post
    • matradley wrote: Points for purchases and paying bills. :O
      PayTM points competition :D
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    • PC Financial used to have a no fee account lol...then changed to Simplii
    • Report Post
    • fusion2k2k wrote: PC Financial used to have a no fee account lol...then changed to Simplii
      Not really. All that changed was the name. CIBC always ran the show and just had the rights to use the PCF brand for their no-fee bank.

      This new PCF will be run by Loblaws.
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    • That will be great.
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    • Darkman wrote: Didn't research this yet .. Didn't Google it etc ...but I was doing some internet survey earlier ...and hypothetically, it was about possibility of having PC Financial bank account. ...no fees etc ...free cheques ....earn pc Optimum points .. Free unlimited etransfer...get paid for bill payments etc etc.

      Plus optional ... Starter account attached to the main account ...for kids ...dependents etc ..to give em money . Monitor their spending etc

      Here are few screenshots i took from that survey...
      It seems like it's a direct competition with Koho especially now that Koho allows you to pay credit card bills.

      Koho posted this today as if they're reassuring everyone on what you can do with their services.
    • Report Post
    • Looks promising.

      Only thing that would really suck about this account is having to go to Loblaws ATM to get cash/do deposits. Wonder if they will link with one of the other banks or networks for free ATM withdrawl.
    • Report Post
    • I have a friend who works at PCF and they are creating a new bank account offering that will run on the MasterCard network (similar to KOHO). I think it’s launching later this year.
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    • Here2day2 wrote: I have a friend who works at PCF and they are creating a new bank account offering that will run on the MasterCard network (similar to kobo). I think it’s launching later this year.
      *KOHO
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    • Can't wait for the "NO QC".
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    • superfresh89 wrote: Not really. All that changed was the name. CIBC always ran the show and just had the rights to use the PCF brand for their no-fee bank.

      This new PCF will be run by Loblaws.
      We don't know that. If indeed this is a new survey and not an old one still available on the Web, then all it tells us is that Loblaw is considering a no-fee bank account. They may not ultimately go ahead with it, but if they do, they face a few, significant headwinds:
      • It's not the same as when they partnered with CIBC 20+ years ago to launch a co-branded banking partnership. There's a lot more competitors, from banks and credit unions alike. Back then, it was pretty much just them and Citizens Bank of Canada. (ING DIRECT Canada had yet to launch a no fee chequing account.)
      • They're starting from scratch
      • It's been several years since they closed all PC Financial pavilions; some stores have completed their renovations and sublet the space to other businesses
      But, perhaps the biggest impediment to "going it alone" and offering this in-house is that developing a fulsome banking system and online banking platform takes time. They currently outsource their credit card billing operations to CUETS Financial, so they only have an online banking interface and it currently only has limited functionality in credit cards and the PC Plus loyalty program.

      Moreover, part of the success was the fact not only did you have access to PC Financial pavilions and ABMs (a plus, yes), but you had access to a branch network in CIBC. They could do this with The Exchange, but then they'd be required to make their grocery store ABMs on The Exchange network, which sort of takes away the benefit of exclusivity. :)

      Also, 0.5% is not compelling.

      Cheers,
      Doug
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    • Gtaphotog wrote: It seems like it's a direct competition with Koho especially now that Koho allows you to pay credit card bills.

      Koho posted this today as if they're reassuring everyone on what you can do with their services.
      Actually, Koho might just be their partner for this offering, essentially offering a PC Financial-branded version of the Koho prepaid credit card, which they're calling a "no fee bank account." :)

      Cheers,
      Doug
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    • Here2day2 wrote: I have a friend who works at PCF and they are creating a new bank account offering that will run on the MasterCard network (similar to KOHO). I think it’s launching later this year.
      Yeah, I called it before I read this comment, and I think they're calling a prepaid credit card a "no fee bank account." Effectively, that's right, though direct deposits are handled a bit differently. It'll be interesting. They might even be getting Koho to build their platform and essentially having this "account" be a PC Financial-branded version of Koho. As part of the arrangement, we could see Koho customers get no fee access to future PC Financial ABMs.

      Still, they'll have a lot of competition in (a) Koho itself, (b) Stack, (c) MogoCard, and (d) a myriad of real no fee bank account competitors.

      Cheers,
      Doug
    • Report Post
    • dmehus wrote: Actually, Koho might just be their partner for this offering, essentially offering a PC Financial-branded version of the Koho prepaid credit card, which they're calling a "no fee bank account." :)

      Cheers,
      Doug
      dmehus wrote: Yeah, I called it before I read this comment, and I think they're calling a prepaid credit card a "no fee bank account." Effectively, that's right, though direct deposits are handled a bit differently. It'll be interesting. They might even be getting Koho to build their platform and essentially having this "account" be a PC Financial-branded version of Koho. As part of the arrangement, we could see Koho customers get no fee access to future PC Financial ABMs.

      Still, they'll have a lot of competition in (a) Koho itself, (b) Stack, (c) MogoCard, and (d) a myriad of real no fee bank account competitors.

      Cheers,
      Doug
      I think that's a little far fetched to think Koho will build PCs platform.


      It'll have to be crazy good deal that you simplii (👀) can't turn down for Koho to want to partner with the exact kind of company they try and get their customers away from. Not to mention how much they have built already with mobile wallet support coming real soon too.
    • Report Post
    • dmehus wrote: But, perhaps the biggest impediment to "going it alone" and offering this in-house is that developing a fulsome banking system and online banking platform takes time. They currently outsource their credit card billing operations to CUETS Financial, so they only have an online banking interface and it currently only has limited functionality in credit cards and the PC Plus loyalty program.
      Is that still the case? My understanding was that in 2015 they moved away from CUETs. Is this listed somewhere on the web? Just curious.

      Thanks
      shawguy
    • Report Post
    • dmehus wrote: Yeah, I called it before I read this comment, and I think they're calling a prepaid credit card a "no fee bank account." Effectively, that's right, though direct deposits are handled a bit differently. It'll be interesting. They might even be getting Koho to build their platform and essentially having this "account" be a PC Financial-branded version of Koho. As part of the arrangement, we could see Koho customers get no fee access to future PC Financial ABMs.

      Still, they'll have a lot of competition in (a) Koho itself, (b) Stack, (c) MogoCard, and (d) a myriad of real no fee bank account competitors.

      Cheers,
      Doug
      They’re not partnering with anyone, they’re going at it alone.
    • Report Post

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