EQ Bank and PC Financial Acquisition: What you need to know

We understand that you may have questions about this recent announcement. On December 3, 2025, Loblaw entered into an agreement with EQB, owner of EQ Bank™, under which EQB will acquire PC Financial®. The transaction is subject to regulatory approvals and has not yet closed.

The most important thing you need to know is that no action is required on your part and no changes will be made to your banking experience at this time. You can rest assured knowing that we are dedicated to making this transition as smooth and seamless as possible.

This page will be updated with more information as it becomes available over the next several months.

Thank you for being a loyal customer.

Helpful Resources

If you want to learn more about the agreement, please refer to the links below.

Announcement

Why is this acquisition happening and what does it mean?

Loblaw has signed an agreement with EQB, parent company of EQ Bank™, to acquire PC Financial®. This transaction is subject to regulatory approvals which are expected to be finalized by the end of 2026. Once completed, the PC Money® Account, PC Mastercard®, as well as PC® Insurance services will transition to the EQ Bank™ brand.

As part of this transaction, EQ Bank™ will become the exclusive financial partner for PC Optimum™, unlocking more innovation, value and rewarding experiences for both new and existing customers. Rest assured, the PC Optimum™ program will continue to be at the heart of our rewards offering after the transition.

When is this transition happening and how will I be informed?

The transaction is expected to close by the end of 2026, pending regulatory approvals. You will be updated throughout the transition and will be notified well in advance about any changes that may affect your accounts or services.

This will also be our dedicated page for updates and FAQs.

What does this change mean for me?

For existing PC Financial® customers:
There are no immediate changes to services, products, or the way you bank. You can expect the same great experience and service knowing that your banking relationship with PC Financial® will continue as usual and no immediate action is required on your part.

For new PC Financial® customers:
You can still apply for our PC® Mastercard® or open a new PC Money® Account to get access to everyday value, great rewards and convenience.

You will be updated throughout the transition and will be notified well in advance about any changes that may affect your accounts or services.

Can I still apply for a PC Financial® Mastercard® or open a PC Money® Account?

Absolutely! New customers can still apply for our PC Financial® Mastercard® or open a new PC Money® Account to get access to everyday value, great rewards and convenience.Once you are a PC Financial® customer, you will be updated throughout the transition and will be notified well in advance about any changes that may affect your accounts or services.

Do I need to take any action right now?

For now, there are no changes to your PC Financial® banking experience. No immediate action is required on your end.

As we get closer to finalizing the transaction, we’ll keep you updated well in advance on any changes that may affect your accounts or services.

How is my personal information protected?

Protecting your personal information is our top priority. We want to assure you that your personal information continues to be held securely by PC Financial® in accordance with our Privacy Policy, available online at www.pcfinancial.ca/privacy .

As we get closer to finalizing the transaction, we’ll keep you updated well in advance on any changes that may affect your accounts or services, including any impacts to how your personal information is handled, as it transitions to EQ Bank™.

Will my money be safe?

Absolutely! Your money remains secure and protected with us. You can feel confident that your funds are safe and remain accessible throughout this transition. Eligible deposits to your PC Money® Account will continue to be insured by the Canada Deposit Insurance Corporation (CDIC) during this transition.

For more information on CDIC coverage, including limits that apply, visit www.cdic.ca .

Will the pavilions in stores still exist?

Yes, in-store pavilions are an important mechanism for us to interact with our customers and those who are interested in applying for our products. Once the deal closes in 2026 you may start to see some changes to the look and feel of the pavilions, but they will continue to offer the same great service they offer today.

Will PC Optimum™ rewards loyalty program or the name be changing?

No, the PC Optimum™ program is not changing as a result of this announcement, and Loblaw will continue to own and operate the program.With this deal, EQ Bank™ will become the exclusive financial partner for the PC Optimum™ program. This means existing and new customers can look forward to new opportunities to earn rewards as the partnership grows. But rest assured, you can expect to get the same trusted PC Optimum™ experience going forward.

Will my PC Optimum™ points still work?

Absolutely. Your points are safe, and you can continue to use them as you normally would. We’re extremely proud of the PC Optimum™ program, and all the places you can earn and redeem points. This partnership is expected to enhance that and provide more value to our members.

Will this change how I earn PC Optimum™ points or the value of them?

No. The value of the PC Optimum™ points you’ve earned so far will not change as a result of this announcement. You’ll continue to earn PC Optimum™ points with your PC Financial® products as you do today.As part of this transaction, EQ Bank™ will become the exclusive financial partner for PC Optimum™, unlocking more ways to earn points, on top of how you currently earn them in our stores, online and with our partners.

As we get closer to finalizing the transaction, we’ll keep you updated well in advance on any changes that may affect your accounts or services.

Will I still be able to use the PC Financial® App and load my PC Optimum™ offers?

Yes, your PC Financial® app and online banking tools will continue to work as they do today.

As we get closer to finalizing the transaction, we’ll keep you updated well in advance on any changes that may affect your accounts or services.

Will I get a new card (new numbers)?

Don’t worry, your PC Financial® Mastercard® or PC Money® Account card will continue to work as it does today, and there are no immediate changes to your account information.

As we get closer to finalizing the transaction, we’ll keep you updated well in advance on any changes that may affect your accounts or services.

Will my expiring card get reissued?

If your card expires, you will receive a new card in the mail, same as you normally would.

How will my pension or direct deposits be impacted?

For existing PC Financial® customers, there will be no immediate changes to services, products or the way you bank, and deposits to your PC Money® Account will be processed as they do today. Your banking relationship with PC Financial® will continue as usual, and no action is required on your part.

Will there be any changes to the Hardship Program?

For existing PC Financial® customers, there will be no immediate changes to services, including the Hardship Program. Your banking relationship with PC Financial® will continue as usual, and no action is required on your part.

Will there be a change to interest charged on my PC Mastercard®?

For existing PC Financial® customers, there will be no immediate changes to services, products or the way you bank. Your banking relationship with PC Financial® will continue as usual, and no action is required on your part.

Will the premiums for my PC Mastercard® Payment Support Plan change?

For existing PC Financial® customers, there will be no immediate changes to services, products or the way you bank, including our Payment Support Plan. Your banking relationship with PC Financial® will continue as usual, and no action is required on your part.

What will happen to my PC® Insurance account and premiums?

Your PC® Insurance policy and premiums will remain unaffected at this time. All existing policies, coverage and payments will continue as usual.

As we get closer to finalizing the transaction, we’ll keep you updated well in advance on any changes that may affect your accounts or services.