President’s Choice, PC, Financial Online Banking Articles

President’s Choice Financial or PC Financial is connected with CIBC. According the PC Financial website “President’s Choice Financial personal banking services are provided by the direct banking division of CIBC. President’s Choice Financial is a registered trademark of Loblaws Inc., and CIBC is a licensee of the mark.”

We have bank accounts at PC Financial and at Tangerine (formerly ING Direct Canada.)

UPDATE: September 2017. PC Financial is changing. It will now be an  online bank called Simplii owned and run by CIBC. It will not be connected to Loblaws, No Frills, Superstore or any other grocery stores any more. The in-store pavilions will be gradually closed. After the transition, it’s possible CIBC will make changes to how the bank is run. In the short term, CIBC has announced that bank cards, bank account numbers, PINs and fees will remain the same. Customers can use CIBC bank machines for free.

Comparing with PC Financial

The two online low-to-no fee banks that are accessible to (almost) all Canadians are and PC Financial. I have accounts at both.

Which is Better Tangerine or PC Financial?

Optimizing Short Term Interest Rates Using Tangerine and PC Financial

Problems with PC Financial Joint Bank Accounts

Bank Accounts

For All PC Financial Bank Accounts

Business Accounts

As of July 2014, PC Financial does not offer any business bank accounts or accounts for non-profit organizations.

(Also as of July 2014, Tangerine does offer Business Savings Accounts but not Business Chequing Accounts.)

Chequing Accounts

Opening Chequing Accounts

Paying Bills and Transferring Money

Using Cheques

Savings Accounts

US Dollar Accounts

As of July 2014, PC Financial does not offer US dollar savings or chequing accounts.

If you withdraw money in US dollars, which can be done from some CIBC bank machines, you will pay a fee and an exchange rate for the money. If you deposit US dollars into your PC Financial account you will pay a fee and an exchange rate because they will convert the funds to Canadian dollars. Source: PC Financial Website.

Other Products

Guaranteed Investment Certificates, GICs

  • [How to Buy a GIC at PC Financial and Can I Cash My GIC Whenever I Want?]


  • [What’s Good about Mortgages from PC Financial?]

Mutual Funds

  • [The Benefits and Drawbacks of PC Financial Mutual Funds.]
  • [How to Buy Units of a PC Financial Mutual Fund for your RRSP, TFSA or Savings]

Registered Education Savings Plans, RESPs

  • [What Types of Investments Does PC Financial Offer for RESPs?]

Registered Retirement Income Funds, RRIFs

  • [The benefits of a RRIF at PC Financial]

Registered Retirement Savings Plans, RRSPs

Making RRSP Contributions at Tangerine

Transferring RRSPs from PC Financial Out

  • [Does It Cost Anything to Transfer Part of my PC Financial RRSP to Another Institution?]

Tax-Free Savings Accounts, TFSAs

Death and Taxes

Articles trapped in [ ] brackets have not been published yet. Sorry! But I am working on them.