Personal Finance

PC Financial & CIBC parting ways. CIBC to launch Simplii Financial on Nov 1

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  • Apr 28th, 2018 12:04 pm
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DMac90 wrote: Are you carrying a points balance over 50,000? I've found it usually cuts down to 10% back in points if you keep saving over 50,000 without redeeming.
Reached 350k and never got any percentage back points offer. They are heavily targeted.

Will soon start spending it.
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BigScee wrote: My RCSS (Westboro/Ottawa) is doing renovations right now and it looks like a "PC Financial"-esque pavilion (w/ ATM) has already been installed in the renovated section (branding absent). They wouldn't build one just to close it on Nov. 1, right?
They're renovating my local RCSS and the PCF pavilion is definitely gone.
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angel_wing0 wrote: Looks like generic info that says nothing new. Thanked for posting.
NP.. that's what 'teasers' are for ... just to let you know they exist ... and provide little/no salient info.Smiling Face With Open Mouth
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905P4N6 wrote: NP.. that's what 'teasers' are for ... just to let you know they exist ... and provide little/no salient info.Smiling Face With Open Mouth
I don't see what CIBC will do to add value to Simplii vs. what we had already with PCF. Hopefully they'll leverage some cool features and will likely launch credit cards to compete with PCB and MBNA.

It's hard to get excited over sneak peeks prior to launch since we're not gaining anything as of yet.
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I doubt there will be any cool features anytime soon.

If anything there will be a loss of value, all the PCF atms will dissapear from loblaws and fortinos grocery stores.

titaniumtux wrote: I don't see what CIBC will do to add value to Simplii vs. what we had already with PCF. Hopefully they'll leverage some cool features and will likely launch credit cards to compete with PCB and MBNA.

It's hard to get excited over sneak peeks prior to launch since we're not gaining anything as of yet.
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mrtrump wrote: I doubt there will be any cool features anytime soon.

If anything there will be a loss of value, all the PCF atms will dissapear from loblaws and fortinos grocery stores.
I'll live with it until I find something better on the market.
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Talked to PCF today ... and the Rep told me, as far as she knows .. Simplii will be EXACTLY the same as PCF now ...

Even the workers and the phone lines will remain the same on their end ...

I asked her about promo interest payments / lump sum after promos are over (that i hate .. 'em lump sum payments .. the way they do it)..

She told me EVERYTHING will remain the same ...

I guess we'll wait and see ... I hope she is wrong as far as promo interest lump sum payments is concerned .. hahaha
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titaniumtux wrote: I don't see what CIBC will do to add value to Simplii vs. what we had already with PCF. Hopefully they'll leverage some cool features and will likely launch credit cards to compete with PCB and MBNA.

It's hard to get excited over sneak peeks prior to launch since we're not gaining anything as of yet.
They can cut the fees for some of the in branch transactions. For me this is mostly Bank Drafts. They could link up with Investor's edge which I understand is an OK online trading platform. But yeah the main goal as a customer is that they don't get worse. Actually it seems like most of the "cheap" financial service prodcuts the big banks have bought have kept their basic philosophies.
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fogetmylogin wrote: They can cut the fees for some of the in branch transactions. For me this is mostly Bank Drafts. They could link up with Investor's edge which I understand is an OK online trading platform. But yeah the main goal as a customer is that they don't get worse. Actually it seems like most of the "cheap" financial service prodcuts the big banks have bought have kept their basic philosophies.

Unless CIBC/Simplii installs ATM's one-for-one for each PCF ATM that will no longer be accessible at Loblaws etc, the service level will drop.
Now, if CIBC/Simplii were to announce that clients have access to their funds with no-service-fees @ all DC Bank ATM's or other networks, then one could argue that would be an improvement.
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905P4N6 wrote: Now, if CIBC/Simplii were to announce that clients have access to their funds with no-service-fees @ all DC Bank ATM's or other networks, then one could argue that would be an improvement.
PCF already has free access to all the CIBC ATMs. Do they really need to add to that?
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Faith24 wrote: PCF already has free access to all the CIBC ATMs. Do they really need to add to that?
do they 'need' to add that? NO.
I'm just saying that currently PCF clients have access to CIBC and PCF ATM's ... in November if newly converted Simplii clients having access to ONLY CIBC ATM's that would be a REDUCTION in service.
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Noticed the PCF Pavillion being ripped out of my superstore this week... So I guess they are not waiting till November 1 to start that process. Lol
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Will simplii keep the free cheque book or should we order now before it is to late?
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agit wrote: Will simplii keep the free cheque book or should we order now before it is to late?
I ordered extra ones when the change was announced, there is no way CIBC continues the free unlimited cheques long-term imo, they'll keep everything as is for now and most likely start adding quantity limits for cheques and fees next year.
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Let's hope for the better, hopefully CIBC will have better promotions to compete with Tangerine (Scotia) in term of special interest rate offer
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scoper wrote: I ordered extra ones when the change was announced, there is no way CIBC continues the free unlimited cheques long-term imo, they'll keep everything as is for now and most likely start adding quantity limits for cheques and fees next year.
I'm certain this will happen. Even though I don't often write cheques, I've ordered some .. and will order more on Nov. 1 with the Simplii logo on them ...

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