the fact that it’s got such a huge leap from the 500k level to the 1MM level is what gets to me
@ElleP - WS also counts all your investments, not just the amount you have in savings, right?
2 Likes
Ws counts all money in all accounts towards the rewards tier.
5 Likes
And all deposits if you’re investments have dropped, but less withdrawals
2 Likes
Simplii just found a legal way to run an up to 4.25 ad
4 Likes
It makes me think less of them.
As I transition into the retirement phase I’ll have chunks of non-registered money I’ll want to keep liquid but in the highest interest account I can find. I’ll shy away from them for being sleazy, because what else are they not telling me to make themselves seem good?
5 Likes
Geez! I’m glad I read this because I fell asleep at the Tangerine wheel. Yup - I’m getting a measly 0.30% where I’ve parked my savings. Is there some sort of code or reward that someone can get if I sign up for Wealth Simple?
2 Likes
Let’s both get $25 when you fund a Wealthsimple account. Use my referral code: YCTLXW 
T&Cs apply. https://www.wealthsimple.com/invite
If someone has a better promo or referral code use that, $25 is peanuts.
3 Likes
Ok, I’ll wait a bit to see if some one else can get more out of it…and because I’m really good at waiting (ok, I’m really good at procrastinating).
3 Likes
This more Ontario specific than Canadian, but effective this past week women 40+ can self refer for a mammogram (Previously it was 50+).
I know I’m going to get squashed soon. From what I hear, wait times are short.
3 Likes
That’s good news about wait times. It’s funny timing for me - I’m just a few months short of turning 50 and worried that the program will be flooded with intake from a whole decade’s worth of women. And that may be all the more reason I should hop to it…
Got this email a few minutes ago:
For anyone looking for a high interest account. Also, if anyone sees the catch, let me know 
4 Likes
What is the fine print next to the little “1”?
I went to the website and couldn’t find the fine print without signing up for the account. I’m sure it’s somewhere, but they buried it.
2 Likes
same
2 Likes
Sketchy a f.
Not shocking, coming from PC.
3 Likes
1
Interest is calculated daily at the current rate on the total closing savings balance in the PC Money™ Account and paid monthly to the savings balance. It is a simple interest calculation. Interest rates are annual and subject to change without notice. Visit pcfinancial.ca for current rates and more information.
remainder of numbers
Value shown is for illustrative purposes only; results may vary based on individual purchase behaviour and savings. Average annual value of up to $700 includes:
- Up to $60 in points annually: Earn a monthly bonus of up to 5,000 PC Optimum™ points when you deposit funds to your PC Money™ Account using automatic payroll or pension direct deposits. Payroll or pension deposits totaling between $1,500 and $2,999 within a calendar month will earn a bonus of 2,000 PC Optimum™ points, and deposits totaling greater than $2,999 will earn an additional bonus of 3,000 PC Optimum™ points, for a maximum monthly bonus of 5,000 PC Optimum™ points. Limited to one bonus per customer, per month, even if you have multiple PC Money™ Accounts. 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. Bonus points will be awarded to your PC Optimum™ account within 2-7 business days of when you meet the minimum direct deposit amount(s).
- Up to $60 in points annually: Earn a bonus of 1,000 PC Optimum™ points for each of up to five bill payments of $50 or more to unique payees, per calendar month, made using a valid PC Money™ Account. Bonus points will be awarded to your PC Optimum™ account within 2-3 weeks of a successful bill payment.
- Up to $80 in points annually when you use the PC Money™ Account as your primary spending account: Spending estimate of $1,166.67 monthly (with 15% spent at eligible stores and 85% spent everywhere else) is based on 2023 annual purchase data of PC Money™ Account holders who use the account as their primary spending account. Earn at least 5 PC Optimum™ points per dollar on qualifying purchases with your PC Money™ Account, wherever your card is accepted. Earn 10 PC Optimum™ points (5 regular PC Optimum™ points plus a bonus of 5 PC Optimum™ points) per dollar on qualifying purchases at participating Loblaw banner stores, Shoppers Drug Mart® stores, Joe Fresh® stores, and Esso™ and Mobil™ stations in Canada. Bill payments, electronic funds transfers, account fees and interest are not qualifying purchases for the purpose of earning PC Optimum™ points. PC Optimum™ points will be deducted for any credits or returns. President’s Choice Bank reserves the right to cancel, change or extend regular and bonus points earning rates at any time. Account must be in good standing at time of qualifying transaction and awarding of points. Value shown is for illustrative purposes only; results may vary based on individual purchase behaviour.
- An estimated of $300 in interest earned on your savings balance, calculated using a simple interest calculation and assuming a minimum annual interest rate of 3.35% and a daily closing savings balance of $8,950. Savings feature not currently available in Quebec.
- Up to $200: If a customer switches accounts from big banks which offer similar benefits (Unlimited transactions, unlimited e-transfers), they will save $16.95 per month in monthly fees, which is $200 per year.
Footnote3
Information about fees for special requests and services for the PC Money™ Account is available here (opens in a new window)
.
Footnote4
Everyday transactions include an unlimited number of completed electronic fund transfers, withdrawals at PC Financial® bank machines, self‑serve bill payments and purchases in Canadian dollars. For information about daily and transactional dollar value limits on everyday transactions, and fees for other available transactions/services, please see here (opens in a new window)
.
Footnote5
Earn a monthly bonus of up to 5,000 PC Optimum™ points when you deposit funds to your PC Money™ Account using automatic payroll or pension direct deposits. Payroll or pension deposits totaling between $1,500 and $2,999 within a calendar month will earn a bonus of 2,000 PC Optimum™ points, and deposits totaling greater than $2,999 will earn an additional bonus of 3,000 PC Optimum™ points, for a maximum monthly bonus of 5,000 PC Optimum™ points. Limited to one bonus per customer, per month, even if you have multiple PC Money™ Accounts. 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. Bonus points will be awarded to your PC Optimum™ account within 2-7 business days of when you meet the minimum direct deposit amount(s).
Footnote6
Earn a bonus of 1,000 PC Optimum™ points for each of up to five bill payments of $50 or more to unique payees, per calendar month, made using a valid PC Money™ Account. Bonus points will be awarded to your PC Optimum™ account within 2-3 weeks of a successful bill payment.
Footnote7
Our grocery stores means affiliated Loblaw banner grocery stores. Visit pcoptimum.ca for details on participating stores where the PC Optimum™ program is offered.
Footnote8
Earn at least 5 PC Optimum™ points per dollar on qualifying purchases with your PC Money™ Account, wherever your card is accepted. Earn 10 PC Optimum™ points (5 regular PC Optimum™ points plus a bonus of 5 PC Optimum™ points) per dollar on qualifying purchases at participating Loblaw banner stores, Shoppers Drug Mart® stores, Joe Fresh® stores, and Esso™ and Mobil™ stations in Canada. Bill payments, electronic funds transfers, account fees and interest are not qualifying purchases for the purpose of earning PC Optimum™ points. PC Optimum™ points will be deducted for any credits or returns. President’s Choice Bank reserves the right to cancel, change or extend regular and bonus points earning rates at any time. Account must be in good standing at time of qualifying transaction and awarding of points.
Footnote9
All PC Optimum™ members earn 15 points per dollar on eligible purchases at Shoppers Drug Mart® and Pharmaprix®. When you use your PC Money™ Account, you will earn an additional 10 points (5 regular PC Optimum™ points plus 5 bonus PC Optimum™ points) per dollar of your purchases.
Footnote10
Minimum redemption is 10,000 PC Optimum™ points (worth $10 in rewards) and in increments of 10,000 points thereafter at participating stores where President’s Choice® products are sold. Some redemption restrictions apply; visit pcoptimum.ca (opens in a new window)
for details, participating stores and full loyalty terms and conditions.
Footnote11
Selected by the MoneySense editorial team as the best rewards bank account in 2024.
Footnote12
Your liability may be limited in situations where use of your Account was unauthorized. For more details, please refer to section 6.2 “Unauthorized Transactions” in your PC Money™ Account Agreement
I am annoyed that as a contractor/FIRE person I can’t qualify for any rewards for opening accounts any more, because I don’t have payroll.
3 Likes
So can it be used for just savings? I don’t want (to use) a chequing account but I could deal with having one that I leave alone if it’s a “gateway” to the savings account? Are there any advantages to PC financial account over Wealthsimple (or vice versa)? I currently just want to port over what I’m holding in Tangerine to an account with an interest rate I don’t have to monitor very closely…
I had a PC cash account for a little while and closed it because it was totally pointless. At the time all they offered was a chequing account. They gave me a small bonus each time I paid my PC mastercard (my main card) from it so some months I did the silly dance of transferring money into their chequing account and paying my bill from there instead of my normal bank.
I expect a bank to be convenient and offer more than one type of account. This was inconvenient and only had chequing. Now that there’s a savings account with a good rate maybe it’s worth it? I wouldn’t use it as a primary account but as a place to store some money and get interest, fine.
2 Likes
they are a CDIC member directly, unlike WS which has some kind of complicated system in place that gives CDIC coverage to someone, who might then give the money to the account holder in the unlikely event it is needed.
I have never looked into PC closely even though it probably would be good from a points play perspective, I think I’m just adverse to connecting more to that org than I am already. EQ does most of what I need, though with the upcoming reno it would be nice to have another account to do free e transfers with (since each FI have a weekly limit)
3 Likes
some of our investments paid out dividends at the end of Sept and we haven’t reinvested. I’m thinking of putting the money into bond funds, with the intent of moving towards an 85/15 portfolio. Right now we have VAB (Vanguard’s Canadian bond fund). Another option would be VBU, which tracks the US bond fund and is CAD hedged. My default for equities is more international exposure. Should I be thinking that way for our bond funds as well, or not bother because it’s just more complexity without much upside?
it is hard to reinvest when the equities are at all time highs
4 Likes