PC Money Accounts Launch from PC Financial: No Fees with Optimum Points on Spending [u]

PC Financial has launched PC Money accounts, offering a no-fee account that offers Optimum Points on spending.

The PC Money account is managed online and through the PC Financial iOS or Android app, and includes a reloadable Mastercard with a $250 tap limit.

The account offers free outgoing and incoming Internet e-Transfers, allows users to pay bills online, plus transfer money to PC Financial Mastercard accounts or between PC Money accounts. Users can also use the account to pay off a PC Financial Mastercard.

PC Money accounts have optional overdraft protection with fees, unlimited daily transactions and also personalized savings goals. There are free in-store ATM withdrawals as well and accounts are eligible for CDIC protection and feature two factor authentication.

According to PC Financial, a PC Money account has 24/7 online support, while monthly statements are available digitally.

“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, in a statement. “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.”

An account can be created online or via the PC Financial Mobile iOS and Android apps, which were updated today.

We’ve reached out to Loblaw-owned PC Financial to see if Apple Pay or Google Pay will be supported for PC Money cards at some point.

The PC Money account is all digital and has zero fees, and looks to compete against other reloadable Visa and Mastercard offerings from Canadian fintechs KOHO and STACK.

Update: A PC Financial spokesperson told iPhone in Canada via email PC Money “does indeed support Apple Pay and Google Pay.”

Thanks Cory