Interesting Couche-Tard is part of the deal. I`d speculated for months that CIBC would lose its Mac`s contract outside of Quebec but I figured Scotiabank would look to add Mac`s stores outside Quebec to add to their Couche-Tard deal.
This is a loss for CIBC, for sure, but even more so, for Scotiabank and Tangerine as this further reduces Scotiabank`s surcharge-free ABM footprint in Canada back down under 3,000 after topping out at 4,000 late last year. They lost Shell (less an issue as it was only company-owned Shell ABMs) and now Couche-Tard in Quebec.
I`m thinking I`ll probably keep Tangerine but am definitely considering opening a President`s Choice Financial or Coast Capital Savings account for either CIBC or Exchange ABM access and maybe bumping Tangerine down from `primary` to `secondary`account.