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6:38 pm
December 10, 2011
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Yatti420
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Looks like PC Financial is now operating in Quebec..
See screenshot link..
http://imgur.com/0F4n2
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7:50 am
December 11, 2011
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Peter
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Finally!
Thanks for sharing 
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8:08 am
December 11, 2011
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Bob
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Thanks. I glanced at PC Financial's rates and they seem similar to those offered by ING. Can anyone tell me what is unique about PC Financial?
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8:53 am
December 11, 2011
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NorthernRaven
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Sorry to rain on your parade, but I think you'll find this is just for their credit card and pet insurance (I'm not kidding) products, which have been available previously in Quebec. If you go to pcfinancial.ca and choose Quebec from the province popup, that's all that shows, while all other provinces and territories have a fuller range of bank accounts, mortgages and other financial products. There's been no news release, and all the Quebec disclaimers are still there in the footnotes.
Sorry, Peter, you may have to flip the chart back again. I did a modification on the thread title to avoid crushing the hopes of Quebecois readers…
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11:40 am
December 11, 2011
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Doug
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I still don't understand why PC Financial, which operates in-store banking pavilions, can't provide bank accounts in Quebec yet ING Direct can.
Cheers,
Doug
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6:41 pm
December 12, 2011
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Yatti420
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My mistake.. Still a no-go in Quebec I see..
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7:09 pm
December 12, 2011
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Doug
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Still haven't answered my question why PC Financial can't/doesn't operate in Quebec? Clearly, it's not a requirement to have branches – PC would beat that requirement since they likely have Real Canadian Superstores in Quebec – since other branchless banks like ING operate in Quebec, I believe. 
Cheers,
Doug
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9:52 pm
December 12, 2011
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NorthernRaven
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Perhaps the effort of jumping through whatever the Quebec regulatory hoops are, plus doing French packaging and support, doesn't justify the expected market share right now.
Perhaps having a corporate presence would actually increase the amount of Quebec tax or regulation issues they'd have to deal with.
PCF uses CIBC as their back end, don't they? Perhaps the Quebec issues are something CIBC doesn't want to get involved with for this joint venture?
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8:31 am
December 13, 2011
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Bobster
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Yes, the language cost is real. Plus Quebec has its own provincial tax system run by Revenue Quebec. And Quebec uses civil law different from the rest of Canada which follows common law.
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8:18 pm
December 13, 2011
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Michael
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You can open your account in Ontario even if you live in Quebec. So next time you travel, stop in at a Loblaws and open an account.
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4:43 am
December 14, 2011
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Doug
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NorthernRaven said:
Perhaps the effort of jumping through whatever the Quebec regulatory hoops are, plus doing French packaging and support, doesn't justify the expected market share right now.
Perhaps having a corporate presence would actually increase the amount of Quebec tax or regulation issues they'd have to deal with.
PCF uses CIBC as their back end, don't they? Perhaps the Quebec issues are something CIBC doesn't want to get involved with for this joint venture?
Unlikely, NorthernRaven. CIBC already has extensive branch and head office infrastructure and Loblaw has stores in Quebec, don't they? What I am saying, though, is other institutions which operate even more on the cheap (i.e., ING) open to Quebec residents. Sorry, that explanation doesn't wash with me. Plus, I think maybe the Manitoba credit unions even allow Quebec registrations (not sure). BMO/Club Sobeys is available in Quebec.
Cheers,
Doug
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8:52 am
December 14, 2011
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88kanaka
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Doug said:
NorthernRaven said:
Perhaps the effort of jumping through whatever the Quebec regulatory hoops are, plus doing French packaging and support, doesn't justify the expected market share right now.
Perhaps having a corporate presence would actually increase the amount of Quebec tax or regulation issues they'd have to deal with.
PCF uses CIBC as their back end, don't they? Perhaps the Quebec issues are something CIBC doesn't want to get involved with for this joint venture?
Unlikely, NorthernRaven. CIBC already has extensive branch and head office infrastructure and Loblaw has stores in Quebec, don't they? What I am saying, though, is other institutions which operate even more on the cheap (i.e., ING) open to Quebec residents. Sorry, that explanation doesn't wash with me. Plus, I think maybe the Manitoba credit unions even allow Quebec registrations (not sure). BMO/Club Sobeys is available in Quebec.
Cheers,
Doug
A few years ago when I was looking for places to bank, I found that some credit unions would not allow you to join if you did not live in the province that it operated in. Yet for some reason when I lived in Calgary and my financial adviser in BC would invest with Coast Capital for me. I thought that is why the Manitoba CU's created spin off virtual banking opportunities to allow members from all provinces and to have lower overhead and higher rates too. Am I incorrect here?? I did call Steinbach credit union as when I lived in Alberta any one that I talked that did their banking with them, would rave about their customer service….and they said they had customers world wide!!
Not sure why there are so many things that are offered in Canada expect Quebec,like banking, contests and the sort. Never the less I have tended to stay away from having any dealings within Quebec. Am I over cautious??
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