PRESIDENT'S CHOICE FINANCIAL

'President’s Choice Financial' is a financial institution that offers banking services through a joint venture between Loblaw Companies (a supermarket chain) and CIBC (a major Canadian bank). It has no branches; rather, most transactions are carried out over the Internet, the telephone or "pavilions" located in Loblaw-affiliated stores.
President's Choice Financial was rated as the best mid-size bank by J.D. Power.

Contents

About President's Choice Financial

Memberships

Services Offered

MasterCard

Insurance

Footnotes

See also

External links

About President's Choice Financial

PC Financial also offers insurance products, lines of credit, loans, RRSPs, and mortgages.
To maintain its low-cost, "no-fee" structure, clients must be comfortable performing almost all transactions on the Internet, at the bank machine, or by telephone.
In October 2005, banking services for President's Choice Financial were transferred from Amicus Bank, a separate legal entity wholly owned by CIBC, to the direct-banking division of CIBC. Amicus is now a division of CIBC retail markets and is no longer a separate legal entity.
CIBC estimates President's Choice Financial to have 3 million clients. 

Memberships

PC Financial, through CIBC, is a member of the Canadian Bankers Association (CBA) and registered member with the Canada Deposit Insurance Corporation (CDIC), a federal agency insuring deposits at all of Canada's chartered banks. It is also a member of:

★ Interac and PLUS for debit card. This is only available outside of Quebec, possibly due to services not being offered in French at this time.

★ MasterCard / Cirrus Network for credit card. Available nationwide.

Services Offered

★ No-Fee Chequing Account

★ Interest First Savings Account

★ Interest Plus Savings Account

★ The Unbeatable, Eatable Mortgage

★ The World's Best RRSP

★ PC Financial Insurance

MasterCard

The 'President’s Choice Financial MasterCard' is issued by President's Choice Bank, a subsidiary of Loblaws, in association with Credit Union Electronic Transaction Services. It offers reward points (called 'PC Points') on purchases at any official President's Choice retailer equivalent to 1% cashback of all purchases made on the card. This portion of the service does not work through CIBC in any way, due to CIBC's exclusive arrangement with Visa, although cash advance fees are waived at CIBC bank machines.
PC Financial MasterCards are embedded with PayPass technology.^[1]

Insurance

President's Choice offers auto insurance, home insurance, pet insurance, and travel insurance. PC points are not offered on insurance products, unless a PC Financial MasterCard is used to pay for the premiums.

Footnotes

# CIBC Quick Facts
# President's Choice Financial FAQ
# CUETS - President's Choice Financial MasterCard
# [2]
1. [1]

See also

★ List of banks in Canada

★ President's Choice

External links

★ President's Choice Financial

★ President's Choice Insurance