Grow your Savings 2.9%* faster
Unlock the new bonus interest rate1 of 0.7%* when you set up direct deposit. It’s time to get paid for getting paid.
Offer ends February 11, 2026
Your bonus interest rate is 2 steps away
Save big with * interest
Open a PC Money™ Account with Savings and start earning our best everyday rate from day one.
Opening Savings is easy
Add Savings to your PC Money™ Account application or log in to your existing account.
Have your Social Insurance Number (SIN) ready! We need it for tax reporting purposes and to verify your identity.
Automatically earn * interest and watch your savings balance grow!
Boost it to 2.9%* just for getting paid
Set up payroll or pension direct deposit to your PC Money™ Account and watch your savings grow even more with the 0.7%* bonus interest rate.
Set up direct deposit in 3 simple steps
Give your PC Money™ Account direct deposit information to your employer or pension provider.
Make sure your payroll or pension direct deposits add up to at least $1,500 within a 30-day period.
Start earning 2.9%* interest on your Savings balance.
Make your paycheque pay off even more
In addition to a full year of the bonus interest rate, you’ll also get up to $5 in PC Optimum™ points2 every month when you set up payroll or pension direct deposit.
PC Optimum™ Points with direct deposit
Earn 5,000 PC Optimum™ points per month when you deposit $3,000 or more a month.
Earn 2,000 PC Optimum™ points per month when you deposit anywhere between $1,500 - $2,999 a month.
Earn a monthly bonus of up to 5,000 PC Optimum™ points when you deposit funds to your PC Money™ Account using automatic payroll or pension direct deposits. Payroll or pension deposits totaling between $1,500 and $2,999 within a calendar month will earn a bonus of 2,000 PC Optimum™ points, and deposits totaling greater than $2,999 will earn an additional bonus of 3,000 PC Optimum™ points, for a maximum monthly bonus of 5,000 PC Optimum™ points. Limited to one bonus per customer, per month, even if you have multiple PC Money™ Accounts. The classification of a direct deposit as a payroll or pension direct deposit is determined solely by President’s Choice Bank. Interac e-Transfer® services, electronic funds transfers, and other forms of deposits or transfers to your account do not count towards this bonus. Bonus points will be awarded to your PC Optimum™ account within 2-7 business days of when you meet the minimum direct deposit amount(s).
Get rewarded with a PC Money™ Account
Zero monthly fees with no minimum balance required3 and unlimited everyday transactions4.- Earn PC Optimum™ points on your everyday purchases5, payroll direct deposits2, and bill payments6.
- Enjoy our best everyday rate of * on your savings.
President’s Choice Bank is a member of the Canada Deposit Insurance Corporation (CDIC).
Ready to earn points for spending and now bonus interest on your savings?
FAQs
Eligibility & Offer Basics
What is the PC Money™ Account Bonus Interest Rate Offer (the “Offer”) and how do I qualify?
This is a limited-time Offer, and to qualify for the Bonus Interest Rate, you need to open a new account or have an existing PC Money™ Account during the Offer benefit period, which starts November 13, 2025 and ends February 11, 2026 (the “Offer Period”). Additionally, you need to open Savings and meet the payroll and pension direct deposit requirements by March 13, 2026. Accounts opened after the February 11, 2026 will not qualify for the offer.
When will the bonus interest rate begin, and how long will it last?
The bonus interest rate will begin within 7 days after you meet all of the following eligibility conditions:
Open a new or hold an existing PC Money™ Account during the Offer Period,
Open Savings,
And have received at least $1,500 in eligible payroll or pension direct deposits within a 30-day period.
Once active, you will keep earning the Bonus Offer Rate for up to 12 months i.e. 365 days as long as you continue to receive payroll and pension direct deposits.
How long do I have to meet the eligibility requirements after seeing the Offer?
To qualify for the Offer, you must complete the following steps within two key windows:
Offer Period: You must open a PC Money™ Account by the end of this period if you don’t already have one.
Enrolment Period (which ends 30 days after the Offer Period): You must:
Add the Savings feature to your account, and
Receive at least $1,500 in eligible payroll or pension direct deposits within a single 30-day period.
As long as you open your account by the Offer end date February 11, 2026, you’ll still have until the March 13th, 2026 to complete the remaining steps. If you complete the conditions after that, you will not qualify for the bonus interest rate.
How does the 30-day period work?
The “30-Day Period” refers to the consecutive 30-day period during which you must receive one or more eligible payroll or pension direct deposits into your PC Money™ Account to qualify for the offer.
For existing account holders, we’ll check if you’ve already received at least $1,500 in eligible payroll or pension direct deposits within the 30 days before the launch date. If not, your 30-day period starts on the launch date.
For new account holders, your 30-day period starts on the day you open your PC Money™ Account.
Once your first qualifying direct deposit lands, every new deposit resets your 30-day period. As long as your deposits continue to come in, your bonus interest rate will remain active.
Who can qualify for the bonus interest rate on Savings?
Anyone with a PC Money™ Account in good standing can qualify. To unlock the Bonus Interest Rate, just open Savings and set up at least $1,500 in recurring payroll or pension direct deposits within a 30-day period.
Bonus Interest Rate Activation
How is the Bonus Interest Rate calculated and paid?
You’ll earn a 0.7%* Bonus Interest Rate on top of our best everyday interest rate. Interest is calculated daily on your Savings balance and paid monthly into your Savings.
How will I know when I’ve started earning the bonus interest rate?
You’ll know you’ve started earning the bonus interest rate within 7 days after meeting all the eligibility requirements. You will be notified in three ways:
You’ll receive an email confirming the start date of the bonus interest rate.
You’ll receive a notification in your PC Financial® online banking and mobile app profile section.
Your dashboard will display the combined total of our best everyday interest rate and the bonus interest rate.
Interest is calculated daily on your total closing Savings balance and paid monthly. This uses simple interest.
Does the bonus interest rate apply to my PC Money™ Account or only to my Savings feature?
The bonus interest rate applies only to your Savings feature, and only after you meet the following eligibility requirements:
Open or hold a PC Money™ Account,
Open Savings,
Received at least $1,500 in eligible payroll or pension direct deposits within a 30-day period.
Payroll and pension direct deposits land into your PC Money™ Account by default. To take advantage of our interest rate, simply transfer funds into Savings.
What happens if I stop receiving payroll or pension direct deposits?
To keep earning the bonus interest rate, you need to receive at least $1,500 in eligible payroll or pension direct deposits every 30-day period.
If you miss one 30-day period, you won’t lose the bonus interest rate right away, but you’ll need to meet the $1,500 direct deposit requirement in the following 30-day period to stay eligible.
If you miss two consecutive 30-day periods (with no qualifying direct deposits or direct deposits below $1,500), your bonus interest rate will end, and your account will revert to our best everyday rate.
Please note that this offer is one-time only. Once the bonus interest rate is removed, it cannot be reactivated, even if you resume payroll or pension direct deposit later.
What happens if I change my employer or switch payroll or pension providers during the offer benefit period?
That's okay! If you're between jobs or switching payroll systems, you won't lose the bonus interest rate right away. You'll have up to two 30-day periods from your last qualifying $1,500 direct deposit to set up your new payroll or pension deposits.
Just make sure:
Your new deposits are coded as eligible under the list of accepted Canadian Payment Association codes as specified in our offer Terms & Conditions
Your direct deposits total $1,500 or more within a 30-day period.
If you miss two consecutive 30-day periods, the bonus interest rate will be removed.
Direct Deposit Setup
How do I set up payroll or pension direct deposit into my PC Money™ Account?
To set up payroll or pension direct deposit into your PC Money™ Account, you must:
Sign in to your PC Financial® mobile app or online account.
Choose Accounts
Select your PC Money™ Account
Choose View direct deposit information.
Copy your account details (including account, branch, and institution numbers) or download a ready-to-share version for your signature.
Next, either add your direct deposit information to your payroll system or share the information directly with your payroll or pension provider.
How do I tell if my payroll or pension direct deposit is set up?
You can confirm whether your payroll or pension direct deposit is active by:
Reviewing your pay stub or pension statement – it will show which account your payments are being deposited into.
Contacting your HR, payroll, or pension office to confirm that the direct deposit has been set up.
Please note that it may take one to two pay cycles for your direct deposit to begin.
What types of payroll and pension direct deposits qualify for the bonus interest rate?
To qualify, your payroll or pension direct deposit must be credited to your PC Money™ Account, using recognized Canadian Payment Association (CPA) codes as mentioned in our Terms & Conditions.
Please note that moving money yourself, such as sending an Interac e-Transfer or making a manual transfer between accounts, does not qualify.
What payroll or pension direct deposit amount and frequency are needed to qualify for the bonus interest rate?
To qualify and maintain your bonus interest rate, you must receive at least $1,500 in eligible payroll or pension direct deposits within each 30-day period.
Once you meet the $1,500 threshold, a new 30-day period automatically begins, helping you keep the bonus interest rate active as long as your deposits continue.
Can I use multiple sources for direct deposit?
Yes. You can qualify using more than one eligible payroll or pension direct deposit source (CPA codes are listed in the Terms & Conditions), as long as the combined total is at least $1,500 within each 30-day period.
Savings
What is Savings?
Savings is a feature you can add to your PC Money™ Account during your application as a new customer, or through your PC Financial® app or online account as an existing customer. With Savings added to your PC Money™ Account, you now earn interest while you save, and you still earn PC Optimum™ points when you spend.
What are the requirements for Savings?
The only requirement for the Savings feature is your SIN (Social Insurance Number). To comply with federal laws, banks are required to obtain your social insurance number when they open an interest-bearing account, so they can report the interest you earn to the Canada Revenue Agency.
How can I access Savings?
Log in to your account; you will see your Savings in your dashboard as part of your PC Money™ Account.
How do I transfer money into my Savings?
You can transfer money within your PC Money™ Account from your spending balance to your Savings balance anytime to earn interest, with unlimited number of transactions to move money in and out, subject to a total daily limit of $50,000 to move in our app or pcfinancial.ca In case you need to transfer more than $50,000 in a day, you can contact us by phone at 1 866 246 7262.
To transfer money:
Access your online banking at pcfinancial.ca or on our app.
Choose Move Money.
Select Transfer.
Choose the balance of where you want to move the funds from and to, enter an amount, and a date.
Define if you want to do a single transfer or schedule recurrent transfers to your Savings balance.
No minimum balance or term is required for Savings.
What is the interest rate on Savings?
We start with our best everyday interest rate
You’ll earn our competitive everyday interest rate with the PC Money™ Account Savings feature. This rate is designed to help you grow your savings steadily over time.
While we remain committed to providing you with our best possible rate, we review our rate regularly and adjust it based on changes to the Bank of Canada’s rate. As a result, it may change from time to time.
Get the bonus interest rate to grow your Saving faster
If you qualify for the bonus interest rate, an additional 0.7%* will be added on top of your everyday rate during the offer benefit period.
How to calculate your interest
For example, with a 4.0% interest rate, a $10,000 deposit will earn you $400 in one year.
Since interest is calculated daily and paid monthly on your Savings balance, you will receive $33.33 monthly.
To review the latest rates available, visit pcfinancial.ca