{"id":881454,"date":"2024-12-19T17:13:16","date_gmt":"2024-12-19T22:13:16","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=881454"},"modified":"2026-05-27T08:44:44","modified_gmt":"2026-05-27T12:44:44","slug":"pc-money-account-review","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/banking\/pc-money-account-review","title":{"rendered":"PC Money Account review"},"content":{"rendered":"
\n
\n

\n \n \n <\/path>\n <\/path>\n <\/svg>\n <\/span>\n Must read: PC Financial is being acquired by EQ Bank<\/span>\n <\/h4>\n
\n

EQB Inc. (the parent company of EQ Bank<\/a>) is in the process of acquiring PC Financial, which is expected to be completed by the end of 2026. At this point, neither institution has announced changes to its product offerings, but both have indicated that changes could occur when the acquisition is complete.<\/p>

We\u2019ll keep this guide updated as we learn more. In the meantime, you can check out our picks for the best chequing accounts in Canada to see other top options<\/a>.<\/p>\n <\/div>\n <\/div>\n<\/div>\n

What is the PC Money Account?<\/h3>

The PC Money Account from PC Financial offers a unique option for managing your money while earning rewards and interest. It works like a chequing account with a Mastercard, letting you pay bills, send Interac e-Transfers and shop\u2014all while earning PC Optimum points, which can be redeemed at participating stores.<\/p>

It\u2019s also currently offering 2.2% APY on savings along with no monthly fees. Earn 150,000 bonus PC Optimum points (equal to $150) when you open a PC Money Account.. Helping over three million people save money and earn rewards, it\u2019s a secure and rewarding banking option for everyday use.<\/p>

Is PC Financial legit?<\/h3>

Yes, President\u2019s Choice Financial (PC Financial) is a legit trusted financial company in Canada and part of Loblaw Companies Limited. It is offered by President\u2019s Choice Bank, a federally chartered bank and member of the CDIC. Millions of Canadians continue to trust and use PC Financial for its banking products.<\/p>

PC Money Account interest rate, fees and access<\/h3>
Type of fee<\/th>Fee details<\/th><\/tr><\/thead>
Interest rate<\/td>2.2% on your savings balance<\/td><\/tr>
Monthly fees<\/td>None<\/td><\/tr>
Transaction fees<\/td>Free transactions, including bill payments and Interac e-transfers<\/td><\/tr>
ATM access<\/td>Free withdrawals at PC Financial ATMs; fees may apply at non-PC Financial ATMs<\/td><\/tr>
Minimum balance requirement<\/td>None<\/td><\/tr><\/tbody><\/table>

What we like about PC Money Account<\/h3>
<\/div>

Earn PC Optimum Points<\/h4>You can earn up to 10 PC Optimum points per dollar spent plus up to 10,000 points monthly for payroll deposits and bill payments.

No monthly fees<\/h4>

The account comes with unlimited everyday transactions, all without monthly fees, allowing you to save more and avoid unnecessary charges.<\/p>

High-interest savings feature<\/h4>

An optional savings feature lets you earn a competitive interest rate of 2.2% on your savings balance, making it a great way to grow your money while keeping it easily accessible.<\/p>

Free Interac e-Transfers<\/h4>

You can send free Interac e-Transfers, giving you the flexibility to transfer money without worrying about extra fees.<\/p>

PC Financial Mastercard Zero Liability<\/h4>

The PC Money Account comes with the Mastercard Zero Liability Promise, ensuring you\u2019re not held responsible for unauthorized transactions.<\/p>

What are the downsides?<\/h3>
<\/div>

Limited physical presence<\/h4>

PC Financial operates primarily online, which may be inconvenient for those who prefer in-person banking services.<\/p>

ATM withdrawal fees at non-PC Financial ATMs<\/h4>

Withdrawals at non-PC Financial ATMs may incur fees.<\/p>

Savings feature unavailable in Quebec<\/h4>

The savings feature is currently unavailable to residents of Quebec.<\/p>

Is my money safe with the PC Money Account?<\/h3>

Yes, deposits in the PC Money Account are eligible for coverage by the Canada Deposit Insurance Corporation (CDIC), providing protection of up to $100,000 per insured category. The institution also emphasizes security, implementing measures like encryption, secure authentication and fraud detection tools to protect customer information.<\/p>

How does the PC Money Account compare to other accounts in Canada?<\/h3>

When it comes to hybrid banking accounts, the PC Money Account offers a strong rewards structure, earning between 5 and 25 PC Optimum points per dollar spent. Its optional savings feature provides a competitive 2.2% interest rate on balances, making it a solid choice for those who want to combine everyday spending with savings growth.<\/p>

Check out notable features of these other hybrid accounts:<\/p>