PC Money Bank Account 75K PC points sign-up offer

Poor bank. They lock your incoming e-transfer or wire transfer funds for a few days. Probably ok for someone but not me.

kejongliu wrote: ↑ Poor bank. They lock your incoming e-transfer or wire transfer funds for a few days. Probably ok for someone but not me.

Why do they lock it?

kejongliu wrote: ↑ Poor bank. They lock your incoming e-transfer or wire transfer funds for a few days. Probably ok for someone but not me.

Don't all banks hold incoming external wire transfer from accounts that are not linked for 5 business days? E-transfer is always immediate I think.

Here is the fine print a few hoops to jump through get maximum bonus.

6 Until July 31, 2021, earn up to 75,000 bonus PC Optimum™ points by taking advantage of introductory offers. All introductory offers are subject to change, extension or cancellation without notice. Here are all the bonus points available to you:

Earn 20,000 bonus PC Optimum™ bonus points when you make your first purchase of $50 or more, using a valid PC Money™ Account, within three months of account approval. Limit one offer per PC Money™ Account. Account must have sufficient funds at the time of purchase. Bonus PC Optimum™ points will be deducted for any returns. Bonus points will be awarded to your PC Optimum™ account within 4‑7 days of eligible transaction.

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 4‑7 days of a successful bill payment.

Offer valid until July 31, 2021. Earn an additional 25,000 bonus PC Optimum™ points, on top of the standard welcome offer of 25,000 bonus PC Optimum™ points, when you set up automatic payroll or pension direct deposit into your PC Money™ Account for the first time and complete at least three direct deposits into the account within the three consecutive months following setup. Third direct deposit must be completed by October 31, 2021 to be eligible for additional bonus offer. Limit one offer per customer. Bonus points will be awarded to your PC Optimum™ account within 4-6 weeks of completing your third direct deposit. This offer is non-transferable.

kejongliu wrote: ↑ Poor bank. They lock your incoming e-transfer or wire transfer funds for a few days. Probably ok for someone but not me.

They only did this for the first few days after account opening. I haven’t any issues with incoming or outgoing under $3000 daily since. And none of my funds have been locked at all.

Edit: I only use etransfer because it’s instant to 30mim maximum.

Any work around for direct deposit? I don't have a job. Will money transfer works?

101lol wrote: ↑ Got this offer in my PC mastercard account but can also be accessed through the link posted.

Normal offer is 50k, so extra 25k points for $75 value in total.
Free bank account that offers 1% cash back in PC points for debit purchases until Sept 31, and then likely 0.5% in PC points.

Wasn't this $125?

Do you have to complete all those by July 31?

GreenLean wrote: ↑ Wasn't this $125?

That's for the real MasterCard.

Absolutely shit of a bank. Worst credit card application process I’ve experienced. Took over a month to get the card active, customer rep giving out false information (wrong email address, wrong document accepted). I even escalated my issues with a supervisor who promised and guaranteed she would fix my issue same day, and after waiting 3 days, was told yet again that I have sent the wrong document. Even tho the document I sent were the one requested by the supervisor, it was still wrong. Got it resolved eventually, but not without major headaches.

I only got the card to take advantage of the 100,000 optimum points rewards but I will never use this card for any major purchases. I’d be afraid to deal with their unknowledgeable staff.

Do not bank with pcfinancial

Zamot18 wrote: ↑Absolutely shit of a bank. Worst credit card application process I’ve experienced. Took over a month to get the card active, customer rep giving out false information (wrong email address, wrong document accepted). I even escalated my issues with a supervisor who promised and guaranteed she would fix my issue same day, and after waiting 3 days, was told yet again that I have sent the wrong document. Even tho the document I sent were the one requested by the supervisor, it was still wrong. Got it resolved eventually, but not without major headaches.

I only got the card to take advantage of the 100,000 optimum points rewards but I will never use this card for any major purchases. I’d be afraid to deal with their unknowledgeable staff.

Do not bank with pcfinancial

I agree. Their support team is absolutely awful. I want to upgrade to the world card but it's been a month of playing phone tag and I've given up. Will be cancelling or putting this card to the side now.

crazyea wrote: ↑ They only did this for the first few days after account opening. I haven’t any issues with incoming or outgoing under $3000 daily since. And none of my funds have been locked at all.

Edit: I only use etransfer because it’s instant to 30mim maximum.

Not really. I have made a few e-transfers and they locked funds for 4 business days. No explain action from customer service but told me this is their standard practice. Then I asked her to cancel the account for me, but till now the account is still active. Called the 2nd time and then the same. Account is still active but now I just withdrew very penny to get a zero balance.

kejongliu wrote: ↑ Not really. I have made a few e-transfers and they locked funds for 4 business days. No explain action from customer service but told me this is their standard practice. Then I asked her to cancel the account for me, but till now the account is still active. Called the 2nd time and then the same. Account is still active but now I just withdrew very penny to get a zero balance.

Honestly that is not a common thing. Using interac should guarantee instant access to the funds. the only thing that I could say is that maybe they had a hard time verifying you. It's a pretty weird situation for you.

Did you receive the card in the mail and activate it before you had these issues?

EDIT: I must say though, that at first I was pretty happy with the account, but lack of physical deposit is a negative and Superstore has really bad prices and anything that gets bonus points is instantly jacked up to cover it. Other than Shoppers and the occasional large purchase like a game console or the bonus promotions for using your points, the whole system is a money sink. I end up spending way more than normal just to get the points and then the prices are higher to cover it.

crazyea wrote: ↑ Honestly that is not a common thing. Using interac should guarantee instant access to the funds. the only thing that I could say is that maybe they had a hard time verifying you. It's a pretty weird situation for you.

Did you receive the card in the mail and activate it before you had these issues?

EDIT: I must say though, that at first I was pretty happy with the account, but lack of physical deposit is a negative and Superstore has really bad prices and anything that gets bonus points is instantly jacked up to cover it. Other than Shoppers and the occasional large purchase like a game console or the bonus promotions for using your points, the whole system is a money sink. I end up spending way more than normal just to get the points and then the prices are higher to cover it.

I got the account for the 0.5-1% points on debit purchases, which is the best of any bank I'm aware of.
PC points are best spent on bonus events at SDM or otherwise just use for groceries at Loblaws, RCSS, or No Frills.
I wouldn't spend extra money just to earn point though, would be counter productive.
Sometimes they have nice person offers for proteins (e.g. 20% points on chicken, pork, beef, frozen seafood, etc.) which you can combine with price matching at RCSS to make a pretty good deal.