As I’ve whined about in other posts, my children’s schools seem to think we don’t pay for cheques. They send home an almost endless stream of papers requesting miniscule sums of money, preferably by cheque because then they don’t have to count it and roll change. We have chequing accounts with two of the Big Banks. Apparently, their cheques are hand-lettered by a direct descendent of Leonardo da Vinci, then are hand-painted by one of the descendents of a select group of Renaissance Masters. Consequently, their cheques cost a fortune. I did open an ING Direct THRIVE chequing account, but I only got 50 free cheques from them. After that they cost (as of April 2013) $12.50 a pack. So I’d been eyeing opening an account at PC Financial. Right now, they are offering unlimited free cheques. (How long that will stay the same I don’t know: usually when I try to take advantage of an offer it disappears, poof!) As a perhaps needed boot to the backside, right now PC Financial is also offering a bonus interest rate for new deposits. So today’s the day I apply for our joint PC Financial no fee chequing account.

Wish me luck!

NOTE: you receive free online statements monthly. You can pay for paper statements.

Applying Online to Open a Joint Chequing Account with PC Financial

Go to http://www.pcfinancial.ca/

1. Click on the tab: accounts & products
2. Click on the link titled: no fee bank account
3. Read the product description.
   If it fits your needs and you want to proceed, click on the button: apply now
   Note that applying online can take up to three weeks to have your account activated.
   If that’s ok, keep following these instructions.
4. Read the list of offered products. Click to check any for which you wish to apply.
5. I only checked apply for the no fee bank account, and to apply “with a co-applicant” because we want a joint account.
6. Click on the red next button.

Before you begin
PC Financial replies with information about applying

• You need to be an adult and a resident of Canada
• You will need your Social Insurance Number, SIN, a major credit card number and other personal details.

Opening the account online also requires you to honestly answer

• How long you’ve been at your current home address
• What is your current employment status
• How long you’ve worked for your current employer
• Whether the product will be used for the benefit of anyone other than the named account holders. (This is a requirement around the legalities of “laundering” money from illegal activities.)
• What do you intend to use the account for?

If this seems acceptable, you can continue:

1. In the fields, enter how many years and months you have been at your current home address.
2. From the drop-down list, select the appropriate answer for What is your current employment status?
   • Employed full time
   • Employed part time
   • Self employed
   • Retired
   • Homemaker
   • Full time student
   • Unemployed
   • Other (Does anyone else ever want to type in: “Lottery Winner?“)
3. If applicable, in the fields enter how many years and months you have been employed with the current employer.
4. If applicable select Yes or No for whether the co-applicants address is the same as yours.
5. In the fields, enter how many years and months the co-applicant has been at the current home address.
6. From the drop-down list, select the appropriate answer for What is your co-applicant’s current employment status?
7. If applicable, in the fields enter how many years and months your co-applicant has been employed with the current employer.
8. Select Yes or No for whether the account is for the benefit of someone other than the account holder.
9. Select Day to Day Expenses (groceries, etc.) for What do you intend to use the no fee bank account for? Or click on the Enter My Own Purpose link.
10. Click on Yes or No for whether you wish to purchase overdraft protection.

Click on the begin button.

Step 1: Your personal information
In the section “please tell us about yourself”

1. Select your Title (Mr. Mrs Miss Ms. Dr. Other)
2. Type the correct information in the following fields:
   • First name
   • Middle name (optional)
   • Last name
   • Date of birth
3. From the drop-down list select your form of Citizenship

In the section “please provide your current address”

1. Type the correct information in the following fields:
   • Residential address
   • Apt/Unit # (optional)
   • City
   • Province
   • Postal Code
2. From the drop-down list select your current residential status
   • own
   • rent
   • live with parents
   • board or room

In the section “please provide the following information”

Type the correct information in the following fields:

• Home phone number
• Fax number (optional)
• E-mail address (optional)
• Verify e-mail address
• Social Insurance Number
• Credit card type
• Credit card number
• Credit card issued by (e.g. the name of the bank)

In the section “please tell us about your employment”

1. Type the correct information in the following fields:
   • What is your occupation?
   • From the drop-down list select What category best describes your occupation?
   • Type the correct information in the following fields:
   • Name of employer
   • Employer address
   • Floor/suite # (optional)
   • City
   • Province
   • Postal Code (optional)
   • Business Phone number (optional)
2. Click on the next button.

Step 2 Your Co-applicant’s Information
Complete the same questions for the co-applicant if this is a joint account application.

Step 3 Summary

1. Review your information and your co-applicants information and if necessary correct it.
2. Click on the Print this page link to print your information for future reference.
3. Click on the next button.

Step 4 Before you finish

1. Read the legal stuff and interest rate information.
   NOTE: They will run a credit check on you if you apply online. The number of credit checks performed on you per year MAY affect your credit score.
2. To accept the legal stuff and interest rate information and the credit check, click the I accept box.
3. Then, either
   Save and Exit
   Or Submit application.
4. If you click Save and Exit
   1. Type the following information in the respective fields:
      • E-mail address
      • 6-12 character password (note the password is case sensitive)
   2. Enter the password a second time
   3. Provide a password hint
   4. Click on the save my application now button.
   5. The application will be saved until you want to submit it or until 30 days have passed.

A Shame Faced Confession
I have to confess that when I got to this step, I dithered. It said it could take more than a week to set up an account online. I wanted to set up the account sooner than that, in part to take advantage of the short-term interest rate sooner.

So unfortunately, instead of proceeding with this test of applying online, I decided to go talk to a PC Financial employee and open the account in person.

The above steps are still correct, but unfortunately I can’t honestly take you through what would happen next.

If you continue with your application online, perhaps you could be kind enough to add a comment with any information about what happens/ed next. I’m sure readers would be interested!

Related Reading

• Applying for a PC Financial Joint Chequing Account in Person at a Store

Join In
If you opened your PC Financial account online, please, please!, share your experiences with a comment!