COIN said
In other PC Financial news.
https://www.thestar.com/busine.....d.html  

Thanks for sharing. I was on another continent and missed the news. As a contented client of both institutions, each with its own deficiencies, I’m optimistic about the merger.

On January 16th, PC Financial finally credited the Savings portion of my PC Money account with the interest that the account earned but was still owed for both November and December, 2025. To recap, I had brought the issue of the missing interest to their attention by submitting a complaint on December 15th, escalating it to their Executive Customer care unit on December 29th and submitting a second separate complaint on January 12.

The deposits for the interest payments for November and December were backdated to when they should have occurred (December 1, 2025 and January 2, 2026). I discovered the backdated interest payments when logging into my PC Money account on January 16th. It took longer than it should have, but at least it's finally resolved - hopefully once and for all!

A few days later I actually got a call from PC Financial when they officially informed me of the backdated interest payments and apologized for the trouble they caused. As compensation, they credited me with an additional 25,000 PC Optimum pts (worth $25). Not really worth the hassle, but better than it could have turned out - so definitely a relief to have it resolved

Later the same day (after the phone call) I also received an e-mail from PC Financial indicating that they had resolved the issue. I never received an explanation for why they missed the interest payments in the first place, so I can't provide any insights on how they buggered that up.

Will definitely monitor the account closely going forward, but for now at least everything seems to be ok - I am hoping it stays that way....

New physical cards will be mailed out. One needs to update billers to the current cards:

6. Updating your payment options

Once your product switch request is approved and your new Card is issued, you must activate your new Card and any of your Additional Cardholders must activate their new Card immediately upon receiving them. Please note that your current Card will no longer be valid upon activation of your new Card or 60 days following issuance of the new Card, whichever one comes first. If you or any of your Additional Cardholders have previously arranged any pre-authorized transactions with merchants using yours or their Card, you or your Additional Cardholders must advise them of the new Card number and expiry date once they are available and activated. You acknowledge that certain merchants may automatically receive your updated Card number and expiry date associated with pre-authorized transactions you have authorized with them, and you will continue to be responsible for these transactions. For more information on this process, see the terms of the Cardholder Agreement.

If you or any of your Additional Cardholders have enrolled your Account in any mobile wallet or other payment application, you or the Additional Cardholder may be required to re-enroll with your new Card information to continue using your Card in that wallet or application. Enrollment in any third party mobile wallet is subject to the terms and conditions set out by the wallet provider. PC Financial is not responsible for any third party mobile wallets or other payment applications.

countysaver said
Rcvd two offers the same day in December; increase credit limit by 50% in one and switch to World Elite in second. Transition was seamless including linking PC Optimum account to news cc. There is another card, "PC Optimum World Elite" with an annual fee; earns more Optimum points but not worth the cost for me. Others may have a different spending pattern.

If I recall correctly, when the announcement was made of the purchase of PC Financial by EQ Bank, it was stated EQ Bank will be the exclusive financial institution partner for PC Optimum. I don't expect much to change other than red to yellow branding. To be seen, if EQ Bank maintains the kiosks and ATMs in Loblaws and affiliated stores. That would be a gain for the bank.  

Minor detail ... It's actually "PC Insiders World Elite".

cgouimet said

It wouldn't be a problem for me I go to the ATM once per year, and not every year) to get enough cash to ensure my spouse and I have about $100 each in our wallets.  

Same - $100 in plastic bills folded in my wallet untouched for more than a year. Once needed it for ethnic restaurants in my area but most now take debit at no extra charge and dropped "discount for cash". Though prohibited, a few still charge extra for cc use.

Peseta said
Anybody here thinks that with this acquisition, EQ will make PC MasterCard (or whatever the credit card might be called) a no-forex fee card?

Their debit card is ... so, my hope is that they'll try to differentiate themselves from everyone else with a no forex fee credit card.  

PC Financial's Spending account "debit card" – really prepaid Mastercard credit card – is fx-fee exempt similar to EQ Bank's offering. I sense [TV advertising, etc] that EQ wants to compete with Wealthsimple and its hard-to-obtain fx-fee free Visa. A real credit card, with or without fx fees, would be a nice addition to EQ's product line.

If I recall correctly, when the announcement was made of the purchase of PC Financial by EQ Bank, it was stated EQ Bank will be the exclusive financial institution partner for PC Optimum. I don't expect much to change other than red to yellow branding. To be seen, if EQ Bank maintains the kiosks and ATMs in Loblaws and affiliated stores. That would be a gain for the bank.

InterestThis said
Wonder how much of the points benefits are going to be eliminated by EQ bank when they take over?

One can guess what is vulnerable by comparing the value of the PC Optimum points earned with the interchange received by the World Elite Mastercard issuer:

Norman1 said
Looks like PC Financial is offering to upgrade cardholders up to their World Elite Mastercard. I received this after logging in to PC Financial:

PC® World Elite® Mastercard®

*The upgrade offer must be accepted between January 15, 2026 and March 13, 2026 (“Offer Period”). Upgrade offer is based on your current President’s Choice Financial® Mastercard® account status and details. Offer subject to change, extension or cancellation without notice.

me too and upgraded. But I hardly use the card too.

PC® World Elite® Mastercard®

*The upgrade offer must be accepted between January 15, 2026 and March 13, 2026 (“Offer Period”). Upgrade offer is based on your current President’s Choice Financial® Mastercard® account status and details. Offer subject to change, extension or cancellation without notice.

Norman1 said

New goals cannot be created now. The infrastructure for them is still there for any existing ones.

Goals were before the interest-earning savings balance/feature of the PC Money account:

Thanks Norman1 for the additional details on the "Goals". Since "Goals" don't exist for newer clients like myself (I only have the Spending and Savings portions within my PC Money account), hopefully that has nothing to do with my issue - even if the infrastructure for it still exists in the background. Will let you know if I ever get an explanation on the missing interest payments to my Savings portion....

Cheers,
Kyle

doug said
That's unfortunate, Kyle. Be persistent, and consider raising a formal complaint with their contact centre management team member if needed. That's usually the step where most complaints get resolved (don't go to the internal ombudsperson unless you have to).

Longer term, the PC Money Account will eventually be demised, likely by year end 2026 once the acquisition by EQB Inc. closes and its 193,000 customers are merged into EQ Bank's 609,000 customers and PC Money Account holders become EQ Bank Personal Account and EQ Bank Card holders.

Cheers,
Doug  

Thanks for the encouragement Doug. Already on the same page - I will be persistent and keep on them. I already submitted a formal complaint on December 15th (for the November interest) and was issued an acknowledgement with a reference id. When they did not respond with a resolution within their standard 14 day response time, I then escalated the same formal complaint to their next (2nd) support level (PC Financial Executive Customer Care) on December 29th (and once again received an acknowledgement). It has only been with the 2nd tier support for a few days - so I am not too surprised that I am still waiting for a response with a resolution.

If their tier 2 level does not resolve it within a reasonable time (I will give it another couple of weeks), then the next (3rd) step in the process is to contact their internal PC Financial Complaint Appeal Office for review. I will try to avoid that if possible.

Worst case: their 3rd internal complaint handling step does not resolve it in which case the final recourse is to submit the complaint with the external review agency for all the Canadian banks/FI's (Ombudsman for Banking Services and Investments). God help me if I have to do that.

If PC Financial does not resolve it, then I may just hang onto the accounts (with minimal balance) until EQ bank formally takes over operations and see what happens.....

In the meantime, I will be collecting a combined $10 in PC Optimum points every month through payroll deposit and bill payments and promptly removing any remaining balance (transfer to external bank accounts). That way PC Financial does'nt get to keep any of my money interest free, while I still get the satisfaction of collecting PC Optimum Points - essentially costing them $120 per year while I maintain a minimal balance. So they are hurting themselves more than me at this point, despite the effort it will take on my part. Have to look on the bright side!

Cheers,
Kyle

Kyle said
Thanks Norman1 for the historical background on being able to set "Goals" for the PC Money Account. Not sure if this applied in the past to both the Spending and Savings portions, but either way, that feature no longer exists - at least not for recent account holders such as myself (new client as of Nov 6, 2025).

It's certainly not a setting that account holders can currently see or modify (at least not me), so it would be pretty pathetic if it actually still existed as a hidden internal setting that could be so badly screwed up by PC Financial.
…

New goals cannot be created now. The infrastructure for them is still there for any existing ones.

Goals were before the interest-earning savings balance/feature of the PC Money account:

Can I move my money from my Goal account(s) to my savings feature?

Yes, you can easily move money from your Goal accounts into your savings feature. To move your funds:

• Sign-in to your account
• Go to Move Money
• Select Transfer money
• Select the Goal you want to transfer from
• Select the savings feature you want to transfer to
• Define the amount to transfer

Please note that you won't be able to transfer money from your savings feature directly to any Goal account.

I have a Goal account; will I start getting interest on my Goal accounts?

No, to earn interest, you must add the new savings feature to your PC Money™ Account and transfer funds from your Goal account(s) to the savings feature. There is no interest earned on balances held in a Goal account.