LOBLAWS is getting bank into banking | Page 2 | PC Financial | Discussion forum

Norman1 said

Normally, no. But, as an introductory offer, one can earn 1,000 points each on up to five bill payments of $50 or more to unique billers each month.

savemoresaveoften said

Earn a max of $5 a month does not appeal much to border having another account.

The challenge is that one cannot give much reward for bill payments which don't go through the MasterCard Debit part of the product.

There's no payment earned for sending a bill payment remittance into the Payments Canada clearing system.

It is the MasterCard Debit charges that earns the card issuer, President's Choice Bank, the card interchange payments from a merchant's MasterCard acquirer. Even that may not amount to much.

For an electronic in-person MasterCard debit, the interchange is 5¢ + 0.25%. The interchange for a contactless tap could be as low as 2¢ flat. They could be hoping people will use the MasterCard Debit lots online for the standard interchange of 1.15%.

"
The challenge is that one cannot give much reward for bill payments which don't go through the MasterCard Debit part of the product.

There's no payment earned for sending a bill payment remittance into the Payments Canada clearing system."

Can Tire Triangle master card gives 1% can tire money on all online bill payments, including hydro, property tax, etc. The money earned can be spent at Can Tire, Sport Chek, etc. That is superior to the PC Money account offer.

That's why, when you buy a car, they will only let you put the first $2000 on credit card.

Norman1 said

savemoresaveoften said

Can Tire Triangle master card gives 1% can tire money on all online bill payments, including hydro, property tax, etc. The money earned can be spent at Can Tire, Sport Chek, etc. That is superior to the PC Money account offer.

I think we looked into that previously and found that not all the billers were in the list that Triangle MasterCard allows one to pay that way.

It is not surprising that the list would be controlled. Canadian Tire Bank doesn't get a commission or interchange for pushing a bill remittance into the Payments Canada system. So, that 1% in Canadian Tire money earned comes out of Canadian Tire Bank's pocket.

Some of the brokerages, like Scotia iTRADE, accept account funding by bill payment. It would cost Canadian Tire Bank significantly if the biller list included Scotia iTRADE and people starting making TFSA and RRSP contributions by bill payment through their Triangle MasterCard!  

Triangle bill pay is quite inclusive, you can even bill pay to load your Mogo debit card.