After offering 3 credit cards, PC Finance is now launching a prepaid Mastercard, very similar to the one offered by Stack (both in terms of fees and visuals)!
The great perk is to get PC Optimum points for current transactions, for those who pay with their debit card. However, using a credit card for groceries, gas or drugstores is often much more rewarding in terms of points.
With PC Argent and your PC Optimum member account, you could earn 10 points per dollar on every purchase and up to 25 points per dollar for purchases at Shoppers Drug Mart / Shoppers Drug Mart.
As PC Optimum states in its terms and conditions, these are actually bonus PC Optimum points per dollar of purchase, compared to the PC Optimum points you would normally earn as a member:
As part of its terms and conditions, President’s Choice Bank reserves the right to cancel, modify or extend regular and bonus point accumulation rates effective September 30, 2021.
As part as PC Money Account Launch, you could earn up to 50,000 PC Optimum points as a bonus:
These are a lot of actions you need to complete to earn 50,000 PC Optimum points (valued at $50). FYI, banks are offering up to $350 to make half of these actions. Like National Bank or Scotiabank.
Here is the list of benefits offered by the PC Money Account:
Here’s a table summarizing the various fees for PC Finance‘s PC Argent account:
These are standard fees related to a prepaid card. However, note that there is a 2.5% foreign currency transaction fee, which differentiates this product from that offered by Stack (which applies no foreign currency transaction fee).
PC Optimum continues to expand its range of services to its customers. After credit cards, it’s now the turn of the PC Argent prepaid card to enter the wallets of PC Optimum members.
PC Finance is clearly aiming to attract a segment of its clientele who are used to using debit cards, or who have no access to credit.
If you’re a PC Optimum customer, there’s no reason not to get this prepaid card: no credit check is required, and it’s an opportunity for you to earn more PC Optimum points!
The PC Money™ Account is an account that works like debit, and rewards you every time you use it to make a purchase. Accepted everywhere Mastercard® is, this no monthly fee account gives you unlimited everyday transactions and rewards you with 10 PC Optimum points on every $1 you spend on purchases.
The PC Money™ Account is an online self-service money management account. This means you can pay bills (including using direct debits for expenses such as gym memberships or utility bills) and make interbank funds transfers. You earn PC Optimum points every time you use your card to make a purchase online or in-store. You can use your card everywhere Mastercard® is accepted, including online and when travelling abroad. However, you cannot write or deposit cheques or use your card at merchants who do not accept Mastercard® payments.
You can transfer funds by linking an external account, or by sending yourself an Interac e-Transfer®. Sending yourself an Interac e-Transfer® is the fastest way to fund your account. Linking an external account may take up to 3 business days.
Your PC Money™ Account earns you 5 regular PC Optimum points plus 5 bonus PC Optimum points* for every $1 of your purchases, everywhere Mastercard® is accepted. Don’t forget to link your card with your PC Optimum account to earn more points with your personalized offers at participating stores.
*Earn 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, modify or extend regular and bonus point accumulation rates effective September 30, 2021. PC Optimum points will be deducted for any returns. Your account must be in good standing at the time of the qualifying transaction and point redemption. Redeemable at participating President’s Choice® stores starting at 10,000 PC Optimum points (equivalent to $10 in rewards) or in increments of 10,000 points. Some redemption restrictions apply; visit pcoptimum.ca for details, participating stores and full loyalty terms and conditions.
Yes. President’s Choice Bank is a member of the Canada Deposit Insurance Corporation (CDIC), which means your deposits are eligible for insurance up to a maximum of $100,000 per financial institution. We also use 2-factor authentication and encryption, helping keep your account and money secure. If you suspect suspicious activity on your account, you can easily lock and unlock your card, online or through the PC Financial app.
Savings are here (if you don’t see the sign-up form, please click here):
