Working hard in the background...
PC Financial 2026: Chequing and Savings
Written by Lauren Brown,
Edited by Abid Salahi
Last updated on July 13, 2026
Fact Checked
FinlyWealth rating
🏅
3.8
Products they offer:
Best for:
PC Financial is ideal for digital banking customers who want no-fee everyday banking and the ability to earn PC Optimum rewards.
Open account
on PC Financial®'s website
Overview
PC Financial offers banking services from President’s Choice Bank, which is a Schedule I, federally regulated bank in Canada. Given this setup, the banking products at PC Financial have coverage of up to $100,000 from the Canadian Deposit Insurance Corporation (CDIC). EQB, parent of EQ Bank, acquired PC Financial in July 2026. Prior to this, the bank was a subsidiary of Loblaws.
PC Financial has a smaller offering than many other Canadian banks. It has only one main account that operates as a no-monthly-fee chequing account with the ability to add on a savings feature, giving you the best of both worlds. Its interest rate applies to all balances in the savings side of the account and is quite competitive considering there is no minimum balance.
The bank also has just a few Mastercard credit cards, with no Visa or American Express options. Lines of credit and mortgages are also not available. It lacks in business banking and insurance products as well, making it a better choice for those who don’t need a full-service banking relationship.
Pros
- Access to 740 PC Financial ATMs in Canada
- No monthly account fees with no minimum balance requirements
- CDIC coverage through President’s Choice Bank
- Unique chequing account offering which allows you to earn interest on a portion of the account
- Ability to earn PC Optimum points
Cons
- Physical branches not available
- Fewer banking options compared to the bigger Canadian banks
- Digital-first bank with no in-person service
- Cannot deposit or write cheques
- No business banking
- No insurance offering
Product Reviews
Chequing Accounts
PC Money™ Account
PC Money™ Account
4.4 Our rating
OPEN ACCOUNT
on PC Financial's website
Welcome Bonus
Receive 150,000 PC Optimum™ points
Regular Interest
Up to 2.2%
Monthly Fee
$0
Account Type
Chequing • Personal
The PC Money Account is a no-monthly-fee chequing account that allows you the option of earning interest on part of your balance. With this add-on feature, you get a savings capacity where you can earn interest on the funds you transfer to that side of the account. It’s a rare combination that can benefit those who prefer to keep their spending and savings together. While the account has plenty of free transaction options similar to other chequing accounts, you cannot write or deposit cheques with the PC Money Account.
Another unique benefit is that the account lets you earn PC Optimum™ points for setting up automatic payroll deposits and bill payments as well as making regular transactions. It provides additional value you don’t find with many traditional chequing accounts. For those who want to earn points through their everyday banking and don’t require in-person service, it’s a compelling option.
Earn 150,000 PC Optimum™ points (equivalent to around $150) by opening a new account then setting up direct deposit on your payroll or pension worth at least $1,500. Keep receiving the deposit for three straight months.**
- No monthly fee with no minimum balance required
- No limit on withdrawals from PC Financial ATMs
- Unlimited debit transactions both in-store and online
- No cost for Interac e-Transfers or bill payments
- No foreign currency conversion fees3
- Optional overdraft protection
- Earn PC Optimum™ points
- Savings feature add-on available (earn 2.2%* on the savings balance)
Account Fees
Monthly Fee
$0
eStatement
Included
ATM Fees
Own Network
$0
Canadian ATMs
$1.5
USA
$3
International
$3
Explore PC Financial® credit cards
See our full guide to PC Financial®'s best credit cards.
Read guide
Customer Experience
3.1/5
PC Financial does not have a complete branch network. Instead, it offers “in-store pavilions” where customers can sign up for new accounts. The majority of interactions with the bank must take place either through its virtual assistant chat or by calling during business hours. Complaints suggest that reaching someone at the call centre can take a long time and that they aren’t always helpful when you finally get through.
Its mobile app receives a mix of reviews, best summed up by one comment which states “it’s decent enough, but it’s a bit buggy, which is not great for a banking app.” Others suggest that the “app is always down.” These negative reviews weigh on PC Financial’s customer experience score.
Rating Methodology
How We Rate PC Financial®
Our ratings are based on a comprehensive evaluation of each financial institution across multiple categories. We assess the quality and competitiveness of their products, fees, interest rates, customer experience, and overall value proposition.
Overall Rating
A weighted average reflecting the institution's performance across all evaluated categories.
Product Offerings
Evaluates the breadth and quality of available products including credit cards, savings accounts, and chequing accounts.
Fees & Rates
Compares monthly fees, interest rates, and fee waiver options against industry standards.
Customer Experience
Assesses the quality of customer support, digital banking tools, and overall user experience.
Rating Scale: All ratings are on a scale of 0 to 5, where 5 represents exceptional performance and 0 represents significant concerns. Ratings are reviewed and updated regularly to reflect changes in products, pricing, and services.
Frequently Asked Questions
PC Financial can work as an everyday banking option for certain customers. It does not, however, offer lending services or investments, so you likely need to combine your banking with other products from different institutions.