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Introducing the new PC Money Account

Sep 14, 2020

Canadians love to look for value when we shop, and earning points is part of that passion. It’s with this cost-saving mentality in mind that we are proud to announce the PC Money Account — a new account that works like a bank account you can use worldwide, even online, anywhere Mastercard® is accepted and allows you to earn PC Optimum points for every dollar you spend, everywhere you shop.

You read that right — everywhere you shop, including online and in-store at retailers across Canada and around the world.

PC Money Account holders can earn 10 PC Optimum points for every $1 of their purchases1. The points they earn by using their card can also be combined with PC Optimum offers, like points from personalized offers and bonus point events, and redeemed towards the purchase of everyday items such as groceries, health and beauty products and household goods at our many banner stores such as Loblaws®, Real Canadian Superstore®, No Frills®, Joe Fresh®, Zehrs®, Shoppers Drug Mart® and more.

We’ve been working on the PC Money Account for a while but fast-tracked it’s launch, since we know that Canadians are looking to get more out of their every dollar, especially in these times. Also, a growing number of Canadians are turning to cashless payments, particularly in recent months, which makes the PC Money Account timely and easy to use.

The PC Money Account can be used wherever Mastercard® is accepted. You can make an unlimited number of everyday transactions2 with the account, all for no monthly fee, and there is no minimum account balance required. There’s even optional overdraft protection3. The PC Money account also includes the option to set up personalized savings goals for items, like a new bike or smart tv, while helping you track and manage spending.

One element we know that PC Optimum members will be excited about is our welcome offer. You can earn up to 50,000 bonus points when you open your account and take advantage of introductory offers4, including:

  • 10,000 bonus points for linking the PC Money Account to an external bank account

  • 10,000 bonus points the first time you make a purchase of $50+ using the account

  • 25,000 bonus points for setting up a direct payroll deposit on the account for at least 3 months, and

  • 1,000 bonus points for each of up to five bill payments of $50 or more to unique payees, each month, using the account

We also work hard to keep your money safe. Security is our first priority, so we put extra protections in place just in case. They include:

  • Canada Deposit Insurance Corporation protection on eligible deposits

  • Two-factor authentication

  • 24/7 fraud detection and support

  • Mastercard Zero Liability Promise for unauthorized purchases5

You can get your own PC Money Account today by visiting here.External link Open an account and start making your money go further!

1Earn 5 regular PC Optimum points plus a bonus of 5 PC Optimum points per dollar of your purchases with your PC Money Account. President’s Choice Bank reserves the right to cancel, change or extend regular and bonus points earning rates as of September 30, 2021. PC Optimum points will be deducted for any returns. Account must be in good standing at time of qualifying transaction and awarding of points. Minimum 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. 

2Everyday 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, and to access all legal documents for the PC Money Account, go to your Notification Centre by logging in to your online account at pcfinancial.ca or through the PC Financial mobile app.

3Optional overdraft protection allows you to temporarily borrow funds up to your approved credit limit when you don’t have enough money in your account to complete a transaction. This may allow you to complete the transaction and avoid a Non-Sufficient Funds (NSF) fee. When your account is in overdraft there is a fee charged each month in addition to interest charges on the outstanding overdraft amount. Subject to credit approval.

4Earn up to 50,000 bonus PC Optimum™ points by taking advantage of introductory offers. Here are all the bonus points available to you:

  • Earn 10,000 bonus PC Optimum bonus points when you make your first purchase of $50 or more, using a valid PC Money Account, within three months of account approval. Limit one offer per PC Money Account. Account must have sufficient funds at the time of purchase. Bonus PC Optimum points will be deducted for any returns. Bonus points will be awarded to your PC Optimum account within 4-7 days of eligible transaction.

  • Earn one bonus of 10,000 bonus PC Optimum points when you link a bank account with another financial institution to your PC Money Account and receive a success message upon verifying your external account online. Limit one offer per customer. Both accounts must be in good standing at the time they are linked. Bonus points will be awarded to your PC Optimum account within 4-7 days of successfully linking accounts.

  • 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 4-7 days of a successful bill payment.

  • Earn a one-time bonus of 25,000 PC Optimum points when you set up automatic payroll or pension direct deposit into your PC Money Account for the first time and complete at least three direct deposits into the account within the three consecutive months following setup. Limit one offer per PC Money Account. Bonus points will be awarded to your PC Optimum account within 4-6 weeks of completing your third direct deposit.

5Your liability may be limited in situations where use of your Account was unauthorized. For more details, please refer to section 6.2 “Unauthorized Transactions” in your Account Agreement.

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.