The no monthly fee bank account rewards Canadians for things they do every day with loyalty points they can actually use

TORONTO, Sept. 14, 2020 /CNW/ - As Canadians' spending turns to essential needs, PC Financial introduces the PC Money Account, a simple bank account that combines no fees with one of Canada's most popular loyalty programs, PC Optimum. Designed for Canadians who crave more from their money, the PC Money Account is a simple, no-fee way to turn the banking they do every day, like paying bills and shopping, into rewards for free grocery, beauty and essential products at Loblaw supermarkets and Shoppers Drug Mart stores.

"We're hearing from Canadians that now, more than ever, they want their money to work harder for them and the PC Money Account does just that," said Barry Columb, President, PC Financial. "The PC Money Account fills a gap in the everyday banking landscape, giving Canadians a no-fee account to spend, send and save, all while being rewarded with loyalty points they can actually use on the essentials they need."

The first product of its kind in Canada, PC Money Account brings together familiar, digital-first banking features with unparalleled points-earning potential on everyday essentials, offering Canadians a whole new way to think about money.

With more than 3 million customers today, PC Financial is all about accelerating everyday value for Canadians. The PC Money Account adds an everyday banking option to its existing Mastercard credit products for consumers who prefer using their own bank accounts for everyday spending and saving, but also seek everyday rewards.

The PC Money Account has the following features:

• Unlimited everyday transactions

• No monthly fees

• 10 PC Optimum points on every dollar you spend, anywhere you shop

• 25 PC Optimum points per dollar spent at Shoppers Drug Mart

• 10,000 PC Optimum points for linking an external bank account

• 25,000 PC Optimum points bonus when you set up direct deposit

• Up to 5,000 points each month for online bill payments over $50

• 10,000 PC Optimum points on your first purchase over $50

• Free Interac e-transfer^®

• Free cash withdrawals at PC Financial ATMs across Canada

• Personalized savings goals

• Optional Overdraft Protection

• CDIC Protection on eligible deposits

• 24/7 fraud detection and support

• Mastercard Zero Liability Promise for unauthorized purchases

• Accepted anywhere Mastercard is accepted worldwide

For Canadians who want to get more from their dollar, they can open a PC Money Account today or get more information at https://www.pcfinancial.ca/en/(Open in a new tab).

About President's Choice Financial

President's Choice Financial^® services are a unique financial service offering designed by Loblaw Companies Limited. For more information, visit www.pcfinancial.ca(Open in a new tab) or follow us on Facebook, Twitter @pcfinancial and YouTube.

About Loblaw Companies Limited (TSX:  L)  Loblaw Companies Limited is Canada's food and pharmacy leader and the nation's largest retailer. Loblaw provides Canadians with grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services. With more than 2,400 corporate, franchised and Associate-owned locations, Loblaw, its franchisees, and Associate-owners employ approximately 200,000 full- and part-time employees, making it one of Canada's largest private sector employers.

Loblaw's purpose – Live Life Well^® – puts first the needs and well-being of Canadians who make one billion transactions annually in the companies' stores. Loblaw is positioned to meet and exceed those needs in many ways: convenient locations; more than 1,050 grocery stores that span the value spectrum from discount to specialty; full-service pharmacies at nearly 1,400 Shoppers Drug Mart^® and Pharmaprix^® locations and close to 500 Loblaw locations; PC Financial^® financial services; affordable Joe Fresh^® fashion and family apparel; and three of Canada's top consumer brands in Life Brand^®, no name^® and President's Choice^®.

SOURCE President's Choice Financial