Personal Finance

PCF Banking in Quebec

  • Last Updated:
  • Nov 21st, 2018 10:56 pm
[OP]
Member
Jul 8, 2013
297 posts
66 upvotes
Montreal

PCF Banking in Quebec

Hi,
PCF does not offer their products in Quebec but I would like to open one.
Could I go to another province (Ontario) and open one there with my Quebec address?
Also, could I go to a Quebec CIBC and use their teller services for my PCF account?

Thank you
26 replies
Deal Addict
Nov 13, 2013
2373 posts
1155 upvotes
Ottawa
Not sure about the address but you can use the CIBC machines for services.
Deal Addict
Jan 30, 2012
1545 posts
894 upvotes
TORONTO
dbzkid777 wrote: PCF does not offer their products in Quebec but I would like to open one.
Could I go to another province (Ontario) and open one there with my Quebec address?
Also, could I go to a Quebec CIBC and use their teller services for my PCF account?
I don't know if you can open a PCF account that way, but I think I saw some RFD threads where people said they were able to.

If you do manage to open a PCF account, you can't go to CIBC and use the tellers (in any province). You can use the CIBC machines for free though.
[OP]
Member
Jul 8, 2013
297 posts
66 upvotes
Montreal
Thanks everyone for the replies, I will stick with Tangerine for now and attempt to open a PCF account whenever I am out of province.
Deal Fanatic
Nov 22, 2015
5705 posts
5120 upvotes
dbzkid777 wrote: Hi,
PCF does not offer their products in Quebec but I would like to open one.
Could I go to another province (Ontario) and open one there with my Quebec address?
Also, could I go to a Quebec CIBC and use their teller services for my PCF account?

Thank you
You can only open one account with PCF if you have a QC address.

CIBC tellers cannot help you with your PCF account, but you can use the bank machines.
Deal Addict
Nov 13, 2013
2373 posts
1155 upvotes
Ottawa
You still go to CIBC tellers for some services. For example Bank Drafts. Anybody know if you can do this in Quebec?
Deal Fanatic
Nov 22, 2015
5705 posts
5120 upvotes
fogetmylogin wrote: You still go to CIBC tellers for some services. For example Bank Drafts. Anybody know if you can do this in Quebec?
No you don't. You call PCF to order a bank draft, and then you pick it up at CIBC the next day - and they charge an extra fee. Otherwise, they mail out the draft to you.

I think you should still be able to pick up bank drafts at a CIBC in QC
Deal Addict
User avatar
Jan 31, 2004
2812 posts
841 upvotes
Montreal
Any news on this? Anyone been able to open a PCF chequing account in Ontario who are quebec resident and have done it recently? Any difficulties, special papers to bring?

Let me know cause if Tangerine continues to fall like this I want a backup...
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Sr. Member
Oct 1, 2006
527 posts
77 upvotes
Another question I'd like answered with those from Mcklain post #8 , can you order free cheques and have those shipped to your home address in Quebec?
Deal Addict
Oct 4, 2009
2634 posts
1500 upvotes
Montreal
Just call the closest PCF Pavilion and they'll answer all your questions. The employees in Cornwall even speak French. If their answers are to your liking you can even book an appointment to open your account(s) without waiting.

Don't have recent info but had no trouble at all opening a savings account at PCF several years ago with a QC address. They send me my tax slips by mail no problem.

I have no experience with their chequing account as I declined opening one.
Deal Addict
Feb 21, 2004
1437 posts
202 upvotes
Montreal
Any Canadian resident can open an account with PCF. Banks are federal charted entities so even without a physical presence in Quebec, you can open one

-As others said, you can ONLY open one account not multiple ones
-No special paperwork, you just need to be in person at any PCF branch, I used a Loblaws grocery store in Ottawa. The in-person requirement is due to Federal money laundering legislation I believe.
-No issues whatsoever to have cheques mailed to your address in Quebec so far but I dont really use cheques, only for senior citizens around me lol

Some interesting tidbit: PCFinancial's institution number is identical to CIBC as in legally speaking, they are the SAME bank as CIBC. All PCF customers have a distinct transit number though. This is different from Tangerine which has its distinct institution number.
Newbie
Aug 18, 2010
39 posts
6 upvotes
Mississauga
i was an Ontario resident with multiple PCF accts. (chequing, Savings and TSFA). I was able to change my address to QC when I moved. So I imagine, you should have no problems opening an acct in ON with a QC address.
You can withdraw and deposit using CIBC atm in QC.
Deal Addict
User avatar
Mar 30, 2004
3831 posts
1102 upvotes
HoTiCE_ wrote: Some interesting tidbit: PCFinancial's institution number is identical to CIBC as in legally speaking, they are the SAME bank as CIBC. All PCF customers have a distinct transit number though. This is different from Tangerine which has its distinct institution number.
Even more interesting: It's identical now, but it wasn't at the start.

PC Financial services were originally delivered by Amicus Bank, a now-dissolved subsidiary of CIBC with institution code 326. At one point, Amicus even offered online banking accounts under their own name (similar to Tangerine today) and had partnerships with a number of other retailers in Canada and the US. Only the PC Financial partnership was commercially successful, and CIBC pulled the plug on Amicus in 2003 after just four years of operation - seems like their whole online bank idea was just a few years ahead of it's time!
Deal Fanatic
Nov 22, 2015
5705 posts
5120 upvotes
S5 wrote: Just call the closest PCF Pavilion and they'll answer all your questions. The employees in Cornwall even speak French. If their answers are to your liking you can even book an appointment to open your account(s) without waiting.

Don't have recent info but had no trouble at all opening a savings account at PCF several years ago with a QC address. They send me my tax slips by mail no problem.

I have no experience with their chequing account as I declined opening one.
PCF will only allow you to open one account as a QC resident. You would have be denied a chequing account if you wanted one at the time you opened your savings account, and you cannot open one now.
Jr. Member
Apr 21, 2011
192 posts
42 upvotes
thornhill
Just out of curiosity why is Pcf not in Quebec? Why can Quebec residents only have one pcf acct?
Sr. Member
Mar 3, 2015
699 posts
95 upvotes
Scarborough, ON
My first account with pcf was opened in Ottawa whith Quebec Driving licence and Montreal address.
If you need teller service and get drafts from teller don't waste your time because cibc won't help you anything that has to do with pcf except if you need currency change when u withdraw.
Deal Fanatic
User avatar
Dec 27, 2009
7119 posts
4276 upvotes
Victoria, BC
supertronic wrote: My first account with pcf was opened in Ottawa whith Quebec Driving licence and Montreal address.
If you need teller service and get drafts from teller don't waste your time because cibc won't help you anything that has to do with pcf except if you need currency change when u withdraw.
When you order a draft through PCF you can pick it up through CIBC teller.
Member
Sep 2, 2016
228 posts
15 upvotes
frenchtoast wrote: Just out of curiosity why is Pcf not in Quebec? Why can Quebec residents only have one pcf acct?
Because of the legal system and the fact that they would need to offer complete 100% french services if they would be in Québec.
[OP]
Member
Jul 8, 2013
297 posts
66 upvotes
Montreal
With banks being federal, why am I only allowed to open one account? I would like both a chequing and a savings...
[OP]
Member
Jul 8, 2013
297 posts
66 upvotes
Montreal
Can this still be done with Simplii? Or has this loophole of Quebecers being able to open an account with PCF does not apply to Simplii anymore?

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