PC Money account now offers 4.25% | Page 3 | PC Financial | Discussion forum

Just e-Transfer in, I transfer from 3-5k depending on the bank. Simplii limit is 3k but motus is 5k per day.

Will take a while but you can fund the account nicely with patience.

Norman1 said
200,000 points welcome offer for three months of payroll/pension direct deposits:

Earn 200,000 bonus PC Optimum™ points with a welcome offer when you open a PC Money™ Account and set up a min. of $1,500 in payroll or pension direct deposits for 3 consecutive months.

Offer ends October 31st, 2024. See terms and conditions* for details.

…

200,000 points offer expired. New 150,000 point offer:

Earn 150,000 bonus PC Optimum™ points with a welcome offer when you open a PC Money™ Account and set up a min. of $1,500 in payroll or pension direct deposits for 3 consecutive months.

Offer ends November 30th, 2024. See terms and conditions* for details.

* This introductory offer is available to new, first-time PC Money™ Account cardholders. For this offer you must have completed the actions or met the conditions described below in order to be eligible for the PC Optimum™ points shown. This offer replaces any other introductory offers. This offer may be terminated or changed by us at any time without notice.

Earn 150,000 PC Optimum™ points for completing the following steps: (i) starting within 60 days of opening your account, deposit a total of at least $1,500 in a calendar month to your PC Money™ Account using automatic payroll or pension direct deposits; and (ii) in each of the following 2 calendar months deposit at least $1,500 to your PC Money™ Account using automatic payroll or pension direct deposits. There must be a minimum of $1,500 deposited for 3 consecutive months for requirement to be met.

The welcome payroll or pension direct deposit bonus points offer during this promotional period is the sum of: (i) the standard payroll or pension points earned each calendar month when you deposit at least $1,500 using automatic payroll or pension direct deposits, and ii) additional points for qualifying deposits made during the promotional period (as outlined above) to top up to a total of 150,000 points.

Standard points will be awarded to your PC Optimum™ account within 2-7 business days of when you meet the minimum direct deposit amount(s).  The additional points will be awarded to your PC Optimum™ account 4-6 weeks after you meet the requirements.

Note: The classification of a direct deposit as a payroll or pension direct deposit is determined solely by President’s Choice Bank. Interac e-Transfer® services, electronic funds transfers, and other forms of deposits or transfers to your account do not count towards this bonus.

The PC Money Account is a no monthly fee bank account issued by CDIC member President's Choice Bank.

The account earns interest on the part of its balance that one carves out to be the savings balance. Rest of the balance is the spending balance. There's no capital gains earned on the account's balance, spending or savings.

Dear (me),
We’re reaching out to inform you that, effective November 21, 2024, the interest rate on your PC Money™ Account savings balance will be adjusted downwards by 0.25% and your new interest rate will be 4.00%*.

Is the bill payment turnaround time the same as other Financial Institutions or is it longer?

For right now, I'm planning to use it for bill payments to get points, otherwise Motive has temporarily become my primary bank account.

Hmm said

I am surprised interest rates are being cut given our tanking dollar. Typically, the BoC will raise them. Then again, I remember the CDN dollar was worth 0.60 US. Now, it's 0.707  

For the many of us on this forum that are depositors, the BoC increasing interest rates to hopefully increase the value of the C$, would be welcome to increase our HISA and GIC returns. It would also be welcome for those who purchase imported goods.

However, exporters like a low C$ and you may have heard that borrowers hate high interest rates.

So, I think the BoC will be quite reluctant to move the rates back up.

A lower Canadian Dollar would increase US imports from Canada. That would tend to annoy Trump.

But increasing imports as a result would just allow the US to collect more tariff from US taxpayers who purchased imported products. That's a regressive consumption tax.

Remember that the US Republican party (and Trump) stands for shifting tax burdens from the wealthy to the middle and lower classes. Those tariffs would mostly come from consumers, not investors, and allow more high-end and corporate tax cuts - especially income tax cuts.