Here's why the PC Money™ Account is worth it!

Jul 3, 2024
A PC Money Account card on top of a mobile wallet with PC Optimum points popping up

Ever had one of those moments where you're doing your everyday banking and wondering if there's more to it than just transactions and statements? Imagine a bank account that not only helps you manage your finances, but also rewards4 you for the things you're already doing like paying bills1, direct depositing your payroll2 or tapping your card to pay at your favorite stores3.

Sounds too good to be true? Well, pinch yourself because it’s real with the award-winning7, no monthly fee PC Money™ Account (opens in a new window)External link. Let's take a closer look at this rewarding everyday bank account that is absolutely worth it!


Unlocking Rewards with Everyday Banking

The PC Money™ Account is the ONLY bank account that rewards you with PC Optimum™ points for everyday banking and spending. But how much value can the PC Money™ Account help you uncover? Let's find out!

Maximize rewards with up to $400 in average annual value*

  • Add the PC Money™ Account to your wallet to earn rewards and save up to $200 annually in no monthly fees*. More on that below.

  • Simply set up your payroll or pension direct deposits and watch the PC Optimum™ points roll in — up to $60 worth every year*! It's like giving your account a little boost, with the potential to earn up to 5,000 points per month2.

  • Make five monthly bill payments of $50 or more to unique payees and pocket up to 5,000 points per month, which is another $60 each year*. Then just sit back, and watch the points roll in without ever having to worry about payment deadlines!

  • Pay with your PC Money™ Account at participating stores and earn 10 points per dollar spent on purchases. Plus, earn 5 points for every dollar spent almost everywhere else. It could add up to a whopping $80 in points every year*. Explore how you can make the most of your account (opens in a new window)External link to make every day more rewarding!


No Monthly Fee, No Catches!

  • Enjoy the freedom of banking with no monthly fee, no minimum balance requirement, and no catches. You also get free unlimited everyday transactions6 online and in-store, plus complimentary Interac e-Transfer® transactions.

  • Access more than 750 PC Financial® ATMs at Loblaw network stores and Shoppers Drug Mart® without any charges.


PC Money™ Account vs. Standard Debit Accounts

While the PC Money™ Account is a bank account, allowing you to pay bills, transfer funds, and deposit money, it offers an additional perk—it's the ONLY bank account that rewards you with PC Optimum™ points for things you already do!

Account benefits: no monthly fee; points for everyday banking and spending; no minimum balance


Protection for your Deposits

When it comes to your money, peace of mind is everything! That's why President’s Choice Bank is a member of the Canada Deposit Insurance Corporation (CDIC). With this, eligible deposits made under President’s Choice Bank are eligible for CDIC protection (opens in a new window)External link up to $100,000 per insured category per depositor.

Serious About Security

Looking for even more peace of mind? Rest assured that when you apply for a new account or sign in to your existing one, your information is always safeguarded by our advanced security technologies and controls. Check out the details of our security measures (opens in a new window)External link to stay up to date.


SO WORTH IT!

All in all, the PC Money™ Account is undeniably worth it! With no monthly fee, accelerated rewards, and up to $400 in average annual value* for everyday banking and spending, it's an absolute game-changer.

Ready to uncover the value waiting for you? Try out our points calculator (opens in a new window)External link and see how much you could be earning based on your spending habits. Discover the full potential of the PC Money™ Account and start your rewards journey (opens in a new window)External link today!

General information not about PC Financial® products is provided for your reference and interest only. The above content is intended only to provide a summary and general overview on matters of interest and is not a substitute for and should not be construed as the advice of an experienced professional. PC Financial® does not guarantee the currency, accuracy, applicability, or completeness of this content.


1Earn a bonus of 1,000 PC Optimum™ points for each of up to five bill payments of $50 or more to unique payees, per calendar month, made using a valid PC Money™ Account. Bonus points will be awarded to your PC Optimum™ account within 2-3 weeks of a successful bill payment.


2Earn 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).


3Earn at least 5 PC Optimum™ points per dollar on qualifying purchases with your PC Money™ Account, wherever your card is accepted. Earn 10 PC Optimum™ points (5 regular PC Optimum™ points plus a bonus of 5 PC Optimum™ points) per dollar on qualifying purchases at participating Loblaw banner stores, Shoppers Drug Mart® stores, Joe Fresh® stores, and Esso™ and Mobil™ stations in Canada. Bill payments, electronic funds transfers, account fees and interest are not qualifying purchases for the purpose of earning PC Optimum™ points. PC Optimum™ points will be deducted for any credits or returns. President's Choice Bank reserves the right to cancel, change or extend regular and bonus points earning rates at any time. Account must be in good standing at time of qualifying transaction and awarding of points.


4Minimum redemption is 10,000 PC Optimum™ points (worth $10 in rewards) and in increments of 10,000 points thereafter at participating stores where President's Choice® products are sold. Some redemption restrictions apply; visit pcoptimum.ca for details, participating stores and full loyalty terms and conditions.


5Information about fees for special requests and services for the PC Money™ Account is available here.


6Everyday transactions include an unlimited number of completed electronic fund transfers, withdrawals at PC Financial® bank machines, self-serve bill payments and purchases in Canadian dollars. For information about daily and transactional dollar value limits on everyday transactions, and fees for other available transactions/services, please see here.


7Selected by the MoneySense editorial team as the best rewards bank account in 2024.


*Value shown is for illustrative purposes only; results may vary based on individual purchase behaviour. The total value in switching from an account that charges a monthly fee to a no monthly fee PC Money™ Account could be up to $400 annually:


• Up to $60 in points annually: 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).
• Up to $60 in points annually: Earn a bonus of 1,000 PC Optimum™ points for each of up to five bill payments of $50 or more to unique payees, per calendar month, made using a valid PC Money™ Account. Bonus points will be awarded to your PC Optimum™ account within 2-3 weeks of a successful bill payment.
• Up to $80 in points annually when you use the PC Money™ Account as your primary spending account: Spending estimate of $1,166.67 monthly (with 15% spent at eligible stores and 85% spent everywhere else) is based on 2023 annual purchase data of PC Money™ Account holders who use the account as their primary spending account. Earn at least 5 PC Optimum™ points per dollar on qualifying purchases with your PC Money™ Account, wherever your card is accepted. Earn 10 PC Optimum™ points (5 regular PC Optimum™ points plus a bonus of 5 PC Optimum™ points) per dollar on qualifying purchases at participating Loblaw banner stores, Shoppers Drug Mart® stores, Joe Fresh® stores, and Esso™ and Mobil™ stations in Canada. Bill payments, electronic funds transfers, account fees and interest are not qualifying purchases for the purpose of earning PC Optimum™ points. PC Optimum™ points will be deducted for any credits or returns. President's Choice Bank reserves the right to cancel, change or extend regular and bonus points earning rates at any time. Account must be in good standing at time of qualifying transaction and awarding of points. Value shown is for illustrative purposes only; results may vary based on individual purchase behaviour.
• Up to $200 in savings annually: Savings on monthly fees based on an average of moderately priced, unlimited transaction chequing accounts at the big 5 Canadian banks. Some banks may rebate or waive monthly fees for customers who hold multiple products or maintain a minimum account balance each month.

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