PC Financial changing to CIBC’s Simplii No Fee Banking

[Shwa Girl]

PC Financial machines will be removed from grocery stores by 2018.CIBC machines can be used with no fee. Fees apply if you use another banking machine.

PC points program continuing with changes. New debit card coming from CIBC so no PC points using debit.

PC Master Card continuing so PC points can still be earned from the credit card.
Tangerine Bank replaced ING Direct, when Scotia Bank took it over. Scotia not doing a great job IMHO.
More details: http://www.cbc.ca/news/business/cibc-1.4249139

[tjthemanto]

http://business.financialpost.com/ne...a-ad37128ed5b4

Yup, CIBC & Loblaws part ways.

Lets see how Simplii competes with Tangerine, now that each is wholly owned by CIBC & Scotia respectively, 2 of the Big 5.

Maybe TD, BMO, RBC will now be forced to come with an exclusive Online bank of their own . Maybe they will take out EQ bank which is pretty good itself.

https://www.eqbank.ca/

[Shwa Girl]

http://business.financialpost.com/ne...a-ad37128ed5b4

Yup, CIBC & Loblaws part ways.

Lets see how Simplii competes with Tangerine, now that each is wholly owned by CIBC & Scotia respectively, 2 of the Big 5.

Maybe TD, BMO, RBC will now be forced to come with an exclusive Online bank of their own . Maybe they will take out EQ bank which is pretty good itself.

https://www.eqbank.ca/

It's interesting.
Loblaws/Independent Grocer/No Frills gas bars etc. are changing to a new name, but PC Points can still be earned.
Loblaws is getting out of the gas business and the banking business.
It was so convenient to get groceries, pay bills at the bank machine and get cash if needed, and fill up the car with gas, all in one trip. In the winter, it won’t be too nice fining CIBC machines when you want to bank.

[padyofurniture]

Just received an email earlier today noting the changes. Guess I'll have to use my phone app for pc points... or get yet another pc plus card on my account lol

[Shwa Girl]

Just received an email earlier today noting the changes. Guess I'll have to use my phone app for pc points... or get yet another pc plus card on my account lol

If you have their chequing account, may be a good idea to call or go online to get some free cheques. Who knows if they will start to charge for cheques like TangerING now does.

[Lavender Lady]

Good idea. Never thought of that. You think ahead--that's good!

If you have their chequing account, may be a good idea to call or go online to get some free cheques. Who knows if they will start to charge for cheques like TangerING now does.

[walkonby]

I am late to the game, just got my email today about the changes. Things can never stay the same and simple eh? Banks are always upsetting the apple cart. pfft! @Shwa Girl , good call about getting some extra free cheques.

[Shwa Girl]

I am late to the game, just got my email today about the changes. Things can never stay the same and simple eh? Banks are always upsetting the apple cart. pfft! @Shwa Girl , good call about getting some extra free cheques.

yesterday, news guys said the bank has been around for 20 years
news guys also said that if people want to find alternatives, they should check out their local credit unit for their offers, especially student and seniors account offers

about the cheques, we used telephone banking where there is an option to press x for new cheques
cheques are coming in '7-10 business days'

[Ciel]

I saw the news on Twitter last night. Actually the partnership is ending after 19 years of the 20 year agreement. I see this change as part of Loblaws' reaction to the minimum wage hikes. Sooo,

As of Nov. 1, all PC Financial bank accounts/mortgages keep their numbers but become Simplii accounts.
Loblaws still owns the PC Mastercard so PC Points will still accrue with card purchases. PC Financial bank cards (debit) will still work but not gain PC Points with use.

The PC Plus program continues.

I'm not happy that CIBC bank machines will disappear though my branch is in the next plaza to the Fortinos Ancaster store. I anticipate no-name third party cash machines will show up instead.

Think all SCers who got the World Elite Mastercard are the winners. Anyone on the fence for the card should try to see if s/he can get one soon.

[padyofurniture]

Yea, I know loblaws is trying to cut back hours for employees with seniority and give them to the ones just making min. wage. A lot of people are understandably upset at that.

I think I still have nearly all the cheques I was given when I moved to PC Financial... I just have to find them.

[walkonby]

So, am I understanding this part right? That only the ATM machines that are currently inside the Loblaws/RCSS stores are the ones being replaced? We never use their machines because Loblaws/RCSS are both out of the way ( sort of ) for us.
We'll just continue to use the ATM's at various CIBC branches, so this is no big deal for us.

[Shwa Girl]

So, am I understanding this part right? That only the ATM machines that are currently inside the Loblaws/RCSS stores are the ones being replaced? We never use their machines because Loblaws/RCSS are both out of the way ( sort of ) for us.
We'll just continue to use the ATM's at various CIBC branches, so this is no big deal for us.

Yes. You got it right. The ATMs and the staff inside the grocery stores will be gone.
We used them a lot. CIBC branches are available to us but not as convenient as in having them in the grocer store.

[Shwa Girl]

Yea, I know loblaws is trying to cut back hours for employees with seniority and give them to the ones just making min. wage. A lot of people are understandably upset at that.

I think I still have nearly all the cheques I was given when I moved to PC Financial... I just have to find them.

About cutting hours for senior employees, they should be talking with their union about this and if necessary, putting in a grievance

[Shwa Girl]

I saw the news on Twitter last night. Actually the partnership is ending after 19 years of the 20 year agreement. I see this change as part of Loblaws' reaction to the minimum wage hikes. Sooo,

As of Nov. 1, all PC Financial bank accounts/mortgages keep their numbers but become Simplii accounts.
Loblaws still owns the PC Mastercard so PC Points will still accrue with card purchases. PC Financial bank cards (debit) will still work but not gain PC Points with use.

The PC Plus program continues.

I'm not happy that CIBC bank machines will disappear though my branch is in the next plaza to the Fortinos Ancaster store. I anticipate no-name third party cash machines will show up instead.

Think all SCers who got the World Elite Mastercard are the winners. Anyone on the fence for the card should try to see if s/he can get one soon.

Back in the day, with PC accounts, every utility bill you paid using your PC Financial chequing account, you got PC points. It was great! Got groceries for 'free' more often, until they cut that perk.

[Ciel]

At least you still get money back for bringing reusable totes for shopping. Would not be surprised if that freebie jumps the banking shark too. I remember the bill perk you and others posted. Happy points spending!