PC Money Account: PC Optimum Points, Savings and Fees
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The PC Money Account is a bank account with no monthly fee that earns you PC Optimum points on your purchases, your paycheque and your bills. It adds an optional savings feature paying 2.2% interest, also available in Quebec. Launched in 2020 as a prepaid card, it now works as a full chequing account.
We find it most useful if you already buy groceries at Loblaws, No Frills or Real Canadian Superstore, and shop at Shoppers Drug Mart. That is where the account earns the most points. For your other spending, a credit card still pays more: we show you below how to combine the two.
How Many PC Optimum Points the Account Earns
You earn PC Optimum points three ways: on purchases, on the direct deposit of your pay, and on bill payments. For reference, 10,000 points are worth $10 in rewards, according to PC Financial.
| Where you pay with the account card | PC Optimum points per dollar |
|---|---|
| Anywhere Mastercard is accepted | 5 |
| Participating Loblaw grocery stores (Loblaws, No Frills, Real Canadian Superstore, Maxi, Provigo…), Joe Fresh, Esso and Mobil | 10 |
| Shoppers Drug Mart and Pharmaprix | 25, including 15 given to every PC Optimum member |
Monthly Bonuses on Pay and Bills
- Direct deposit of pay or pension: 2,000 points when you deposit $1,500 to $2,999 in a month, 5,000 points above $2,999.
- Bill payments: 1,000 points per bill of $50 or more paid to a different biller, up to five bills a month, or 5,000 points.
Keep in mind that only a direct deposit of pay or pension earns the monthly bonus. Interac e-Transfers and transfers between accounts do not count.
The PC Money Account Welcome Offer
PC Financial currently offers 150,000 PC Optimum welcome points, worth $150 in rewards, to new account holders. To earn them, you need to meet two conditions:
- within 60 days of opening the account, receive a direct deposit of your pay or pension of at least $1,500 in the calendar month;
- repeat that $1,500 minimum deposit in each of the next two calendar months, for three consecutive months.
What the Account Earns You in a Year
Say you receive your pay by direct deposit and buy your groceries at Loblaws or No Frills. Here is what the PC Money Account earns you each month:
| Item | Amount per month | Points per month |
|---|---|---|
| Direct deposit of pay | over $2,999 | 5,000 |
| Payment of 5 bills of $50 or more | 5 bills | 5,000 |
| Groceries at Loblaws or No Frills | $400 | 4,000 |
| Shoppers Drug Mart (account bonus, 10 points per dollar) | $100 | 1,000 |
| Other purchases | $500 | 2,500 |
| Total | All items | 17,500 points, or $17.50 |
You earn 210,000 PC Optimum points a year, or $210 in rewards. In the first year, the welcome offer adds 135,000 points, since its 150,000 points already include the 15,000 pay bonus points from the first three months. On top of that, $5,000 left in your savings earns you about $110 in interest a year at the current 2.2% rate.
All told, expect about $455 in the first year, then $320 in the following years, with no monthly fee.
PC Money Account Benefits
Here is what the account gives you day to day:
- No monthly fee and no minimum balance
- Unlimited everyday transactions: purchases, bill payments and withdrawals at PC Financial ATMs
- Free Interac e-Transfers, sent and received
- No foreign exchange markup on your purchases in foreign currencies
- Free withdrawals and deposits at more than 740 PC Financial ATMs across Canada
- Mastercard Zero Liability protection, card lock and multi-factor authentication
2.2% Savings: How It Works
The PC Money Account savings feature is optional. You add it after opening the account by providing your social insurance number, which splits the account into two balances: spending and savings.
- 2.2% a year, in effect as of September 18, 2026, and subject to change without notice
- Simple interest calculated daily on your savings balance and paid monthly
- No minimum balance and unlimited transfers between the two balances
- Available to Quebec residents, PC Financial specifies
President’s Choice Bank, which offers the account, is a member of the Canada Deposit Insurance Corporation (CDIC).
PC Money Account Fees
The account has no monthly fee: you only pay for a few optional services, according to PC Financial’s fee schedule:
| Service | Fee |
|---|---|
| Purchases, bill payments and withdrawals at PC Financial ATMs | Free |
| Foreign currency transactions | No markup |
| Sending and receiving an Interac e-Transfer | Free |
| Cancelling an Interac e-Transfer | $3.50 |
| Withdrawal at another ATM in Canada | $1.50 |
| Withdrawal at an ATM outside Canada (Mastercard network) | $3.00 |
| Non-sufficient funds (NSF) | $10.00 |
| Optional overdraft protection | $5.00 per month used ($0 for Quebec residents), 19% annual interest |
| Bill payment trace | $15.00 |
| Bill payment recall | $24.00 |
| Card replacement (first one each year is free) | $5.00 |
| Rush card replacement | $5.00 |
| Printed copy of a previous statement | $5.00 |
| Transaction assisted by a customer service agent | $1.00 |
| Inactivity (no transaction for 12 months) | $20.00 per year |
PC Financial ATMs: Where to Withdraw Free
You withdraw and deposit cash for free at more than 740 PC Financial ATMs across Canada. To find the closest one, open PC Financial’s ATM locator.
Elsewhere, a withdrawal costs you $1.50 at another bank’s ATM in Canada and $3 at a Mastercard network ATM abroad.
Our Take on the PC Money Account
The PC Money Account is worth it if you can have your pay deposited into it. The direct deposit bonus, up to 5,000 points a month, is what makes the difference. Add your bills and your purchases at Loblaws, No Frills or Shoppers Drug Mart, and the account earns you more than $200 a year in points, with no monthly fee.
Its limits are clear. It has no branches, you can’t write or deposit cheques, and your rewards stay within the PC Optimum program.
For your purchases, we recommend pairing it with a credit card. The account receives your pay and handles your bills; the card takes your everyday spending and earns you extra rewards. Here are the cards we recommend for groceries.
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PC Money Account - Frequently Asked Questions
What is the PC Money Account?
The PC Money Account is an online bank account from President’s Choice Bank, with no monthly fee and no minimum balance. You use it like a chequing account, with a Mastercard for your purchases, and every purchase earns you PC Optimum points.
Is the PC Money Account a prepaid card?
Not anymore. When it launched in 2020, PC Financial presented it as a prepaid card. Today, it is a bank account that accepts direct deposit of your pay, bill payments and Interac e-Transfers, with an optional savings feature.
How many PC Optimum points does the account earn?
You earn 5 points per dollar everywhere, 10 at participating Loblaw grocery stores, Joe Fresh, Esso and Mobil, and 25 at Shoppers Drug Mart, counting the 15 points every member gets. On top of that, you can earn up to 5,000 points a month for your pay and 5,000 for your bills.
What is the interest rate on PC Money savings?
The savings feature pays 2.2% a year, a rate in effect as of September 18, 2026, that PC Financial can change without notice. Interest is calculated daily on your savings balance and paid to you monthly.
Is the PC Money savings feature available in Quebec?
Yes, PC Financial specifies that the savings feature is available to Quebec customers. You turn it on after opening the account by providing your social insurance number.
Does the PC Money Account charge foreign exchange fees?
No, the account adds no markup on your purchases in foreign currencies: Mastercard converts the amount at the rate in effect on the processing date. A withdrawal at an ATM outside Canada costs $3, however.
Is the PC Money Account a credit card?
No. It is a bank account: the Mastercard that comes with it draws on your account balance and gives you no credit. To earn PC Optimum points on credit, PC Financial offers its own Mastercard credit cards.
How do I get the 150,000-point welcome offer?
Within 60 days of opening the account, receive a direct deposit of your pay or pension of at least $1,500, then repeat that minimum in each of the next two calendar months. Interac e-Transfers do not count. The offer, in effect as of September 18, 2026, can change without notice.
