PC Financial® brings savings feature to the PC Money Account, with 4.25% everyday interest rate

The PC Money Account now offers a more complete everyday banking solution with no monthly fee, no minimum balance and no minimum term.

TORONTO, Oct. 3, 2024 /CNW/ - Today, PC Financial^® announced a new savings feature for the PC Money Account, offering Canadians even more ways to earn and now save. Available as an optional add-on to any new or existing PC Money™ Account, the savings feature offers serious value with a 4.25% everyday interest rate* and no honeymoon period or post-promotion plummet.

PC Financial® brings savings feature to the PC Money Account, with 4.25% everyday interest rate (CNW Group/President's Choice Financial)

With this new feature, cardholders can enhance their rewards, earning interest on funds added to their savings. This is in addition to the PC Optimum™ points they already earn on their everyday banking and spending, including paying bills, direct payroll deposit and on every dollar spent when they shop.

The PC Money™ Account savings feature offers:

• No monthly fee
• No minimum balance
• Interest earned from day one
• Free transfers within account & free e-transfers
• Auto-save functionality
• Up to $700 in average annual value**

"Canadians can rest easy knowing there are no catches or surprises in the fine print when they add the new savings feature on their PC Money™ Account," said Carola Corti, SVP & General Manager of Payments at PC Financial^®. "With this new feature, we're offering a simple and straightforward way for Canadians to earn incredible value on their day-to-day banking. Unlike rates you might see elsewhere, our savings rate is not a promotion - Canadians can expect our best rate today and every day."

PC Financial^® is committed to providing Canadians more opportunities to earn and save with their everyday banking. For a limited time, cardholders get a welcome offer of $200 in PC Optimum™ points. With $200 in PC Optimum™ points earned from everyday banking & shopping, an average of $300 earned in interest, and savings of up to $200 in banking fees, customers can see up to $700 in average value in their first year**.

"We've put customer needs at the centre to make PC Money™ Account a true win-win for Canadians. We know the ability to earn PC Optimum™ points on spending and interest on savings provides unmatched value," explains Barry Columb, President, PC Financial^®. "At PC Financial^®, it's important to us to have simple and transparent offerings that help Canadians get the most of every dollar. With the new savings feature, the PC Money™ Account now offers a more complete solution to grow your money, every day." 

Canadians can learn more or sign up for the PC Money™ Account and add the new savings feature for free at https://www.pcfinancial.ca/en/.

Note: the savings feature is currently unavailable to residents of Quebec.

About President's Choice Financial
PC Financial^® services provide unprecedented value to customers, simplifying financial products to help Canadians Live Life Well^®. Through the PC^® Mastercard^® and the PC Money™ Account, customers save on banking fees and have earned more than $1 billion worth of PC Optimum™ points to redeem for beauty, groceries, gas, apparel, and other products at participating stores. The company is committed to being one of Canada's most diverse and inclusive employers and makes it a priority to reflect this in its people and culture.

Established in 1998, PC Financial^® is a part of Loblaw Companies Limited. For more information, visit pcfinancial.ca.

Conditions apply to all benefits and offers.
*Interest is calculated daily at the current rate on the total closing savings balance in the PC Money™ Account and paid monthly to the savings balance. It is a simple interest calculation. Interest rates are annual and subject to change without notice. Visit pcfinancial.ca for current rates and more information. 

**Average annual value of up to $700 includes up to $200 saved on monthly fees versus competitors' accounts with monthly fees, along with up to $200 in PC Optimum™ points earned from everyday banking & shopping with PC Money™ Account as a primary spending account and an estimated $300 in interest earned on your savings balance, calculated using a simple interest calculation and assuming a minimum annual interest rate of 3.35% and a daily closing savings balance of $8,950. For illustrative purposes only; results will vary based on individual spending and funds added to savings. Savings feature is not currently available in Quebec.

SOURCE President's Choice Financial

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