Need PCF to bring some competition to Tangerine.
PC Money - Launched 09/14/2020
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- Mar 26th, 2024 11:37 am
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- SCORE+35
- Shadow Rider
- Deal Addict
- Sep 11, 2006
- 2304 posts
- 950 upvotes
- Darkman [OP]
- Banned
- May 7, 2007
- 13912 posts
- 5710 upvotes
Hopefully ...Shadow Rider wrote: ↑ Need PCF to bring some competition to Tangerine.
... I was at Real Canadian Superstore (in Winnipeg) again on Sunday ... was solicited to get PCF MC ... told the rep that I already have WE one ... and then asked him if it's true that PCF Bank / bank accounts etc coming soon.
He didn't tell me when, but he confirmed to me that it's indeed true.
And according to this guy, when i asked him about Savings, Chequing, Prepaid card ... -- he said all of these is coming ... and will be happening, lol
We'll see I guess.
- someweirdo
- Deal Addict
- Jul 16, 2019
- 1577 posts
- 2008 upvotes
I'll be surprised if they offer a chequing account and a prepaid credit card. These two things have a lot of overlapping functions, so it would be confusing to offer both.
- MayorOfToronto
- Deal Fanatic
- Jul 13, 2014
- 6054 posts
- 4059 upvotes
- Parry Sound
.... Simplii?Shadow Rider wrote: ↑ Need PCF to bring some competition to Tangerine.
I've ditched Tangerine for Simplii and couldn't be happier. PC Bank is just a bonus.
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- pawprints86
- Sr. Member
- Sep 5, 2017
- 503 posts
- 262 upvotes
Just wondered what made you twitch from tangerine? I'm with simplii but debated tangerine tooMayorOfToronto wrote: ↑ .... Simplii?
I've ditched Tangerine for Simplii and couldn't be happier. PC Bank is just a bonus.
- travelandshoppingwoman77
- Member
- Jun 28, 2011
- 463 posts
- 140 upvotes
- VANCOUVER
I work right across the street from a Superstore and I dropped by during my lunch hour and chatted with the PC MC rep who signed me up for my PCF MC.
He confirmed that PC will be offering a chequing account and that customers will earn points using the debit card. He said that most likely there will not be a savings account offered but definitely a chequing and no fees. (presumably no fees for interac transfers or cheques)
Existing PCF MC holders can just sign up without having to go through a credit check.
I'm rather stoked about earning points using my debit card. He wasn't sure about whether or not there would be bonus points offered but that would be great.
The date is September 14 which confirms an earlier post with the same date. Countdown is on!
He confirmed that PC will be offering a chequing account and that customers will earn points using the debit card. He said that most likely there will not be a savings account offered but definitely a chequing and no fees. (presumably no fees for interac transfers or cheques)
Existing PCF MC holders can just sign up without having to go through a credit check.
I'm rather stoked about earning points using my debit card. He wasn't sure about whether or not there would be bonus points offered but that would be great.
The date is September 14 which confirms an earlier post with the same date. Countdown is on!
- Kneader
- Member
- Apr 16, 2020
- 379 posts
- 481 upvotes
Why? If you already have the PCF MC I doubt the rates on the debit card would be competitive...travelandshoppingwoman77 wrote: ↑I'm rather stoked about earning points using my debit card.
- MayorOfToronto
- Deal Fanatic
- Jul 13, 2014
- 6054 posts
- 4059 upvotes
- Parry Sound
1000000000x better interface (both the app and website)pawprints86 wrote: ↑ Just wondered what made you twitch from tangerine? I'm with simplii but debated tangerine too
There are other reasons as well but that was the one that really made me switch over. Both Simplii's app and website are sooooo much better, cleaner, more professional looking and don't take 14 years to load up.
Tangerine looks like it was put together by a hipster college student.
Exactly. Rates are likely going to be similar to or worse than before when they had their bank with CIBC.
If you have even just the regular MC, you'd earn better rates than the debit card.
If the MC gives you 1 point per dollar, the debit card will probably be half a point.
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- CobaltInigma
- Newbie
- Dec 26, 2007
- 64 posts
- 73 upvotes
- Durham
I switched to Tangerine from Simplii when it rebranded from PC Financial, and have been pleased with every interaction.pawprints86 wrote: ↑ Just wondered what made you twitch from tangerine? I'm with simplii but debated tangerine too
I find their app and website to be OK! And speed of EFTs to be fast enough.
I still have a Simplii account for a rainy day, but don’t miss them.
- angel_wing0
- Moderator
- Mar 23, 2004
- 47728 posts
- 13898 upvotes
- Markham
Yes, pretty sure it's only one of them, but likely a combination of both - prepaid credit card with chequing account functionssomeweirdo wrote: ↑ I'll be surprised if they offer a chequing account and a prepaid credit card. These two things have a lot of overlapping functions, so it would be confusing to offer both.
- aweawea
- Deal Addict
- Sep 6, 2018
- 1876 posts
- 2285 upvotes
- Halifax, Nova Scotia
I'd love if they introduced a direct competitor to EQ, a zero-fee hybrid chequing-savings at 1.7% interest (or similar) plus convenient ATM network/partner, free cheques, and PCO points on all debit purchases (including CTFS MC payments for example.) Is that too much to ask?? 🤣🤣🤣angel_wing0 wrote: ↑ Yes, pretty sure it's only one of them, but likely may be a combination of both - prepaid credit card with chequing account functions :lol:
- jacnel
- Deal Addict
- Dec 3, 2017
- 3176 posts
- 3130 upvotes
- Toronto
Well whenever this chequing account launches the PC Financial ATMs won't be that good for deposits as there is no way to deposit at ATM.
- angel_wing0
- Moderator
- Mar 23, 2004
- 47728 posts
- 13898 upvotes
- Markham
Probably...we can hope.
My guess is they might work with CIBC ATMs, here's more hoping.
- MayorOfToronto
- Deal Fanatic
- Jul 13, 2014
- 6054 posts
- 4059 upvotes
- Parry Sound
Doubtful. That's Simplii territory. Why would CIBC let a competitor use their network and ATMs?angel_wing0 wrote: ↑My guess is they might work with CIBC ATMs, here's more hoping.
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- Jonavin
- Deal Fanatic
- May 19, 2005
- 5042 posts
- 2739 upvotes
- Earth
What would actually make people switch to PCF if they already had Simplii? I used to be on ING then switched to old PCF/Simplii due to the convenience of access to CIBC bank machines and grocery stores. Not sure that's going to be an issue now since we're more cashless than ever. I say this knowing full well that many asian places still only take cash (or prefer it).
Higher interest savings could be attractive. Some people still want to talk to someone, so having pavillions in stores could be another advantage over SImplii. I like the idea of a simple hybrid account; relatively high interest on your balance, free chequing features, and if you go negative, it's your line of credit. Earning points on your savings/chequing would also be appealing.
Actually I'd be happy if they just allow me to alias name all the accounts easily on the web and in an app.
Higher interest savings could be attractive. Some people still want to talk to someone, so having pavillions in stores could be another advantage over SImplii. I like the idea of a simple hybrid account; relatively high interest on your balance, free chequing features, and if you go negative, it's your line of credit. Earning points on your savings/chequing would also be appealing.
Actually I'd be happy if they just allow me to alias name all the accounts easily on the web and in an app.
Some people just don't get that online forum posts shouldn't always be taken seriously.
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- scoper
- Deal Guru
- Aug 5, 2006
- 10747 posts
- 7905 upvotes
- Global Village
More frequent savings account rate promos. Simplii has a May-October 6 month offer dead zone PCF can exploit with offers.
All day I dream about sports
Tangerine, Meridian, EQ Bank, Simplii, CIBC Investor's Edge
Tangerine, Meridian, EQ Bank, Simplii, CIBC Investor's Edge
- angel_wing0
- Moderator
- Mar 23, 2004
- 47728 posts
- 13898 upvotes
- Markham
They used to be partners. And if Loblaws allow CIBC to use their ATMs inside their stores (BIG if), I believe they can work something out. As I said, just pure hope.MayorOfToronto wrote: ↑ Doubtful. That's Simplii territory. Why would CIBC let a competitor use their network and ATMs?
- Jonavin
- Deal Fanatic
- May 19, 2005
- 5042 posts
- 2739 upvotes
- Earth
There was a reason why they split in the first place. You might see a different bank in there but I doubt that CIBC ATMs will be back in Loblaw banner stores.angel_wing0 wrote: ↑ They used to be partners. And if Loblaws allow CIBC to use their ATMs inside their stores (BIG if), I believe they can work something out. As I said, just pure hope.
Some people just don't get that online forum posts shouldn't always be taken seriously.
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- Ducky
- Deal Fanatic
- Jan 18, 2003
- 6484 posts
- 2389 upvotes
- Mississauga
after all these years, unless you don't manage well with credit, never understood the logic of using a debit card over a cc (unless the retailer doesn't accept cc)
- aweawea
- Deal Addict
- Sep 6, 2018
- 1876 posts
- 2285 upvotes
- Halifax, Nova Scotia
Me either, but it's been a battle to get my parents off cash & debit and onto a cashback CC. They feel like they have "no money" when they can't whip out a wad of cash to pay and tip at a restaurant or hair salon for example... Everyone has different systems and habits for their finances and it's tough for some older folks to adjust, even if it seems like such a trivial switch for us whippersnappers.
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