Presidential Finance Options (French: Service earners le Choix du PrÃÆ' sident ), usually shortened to PC Financial , is the financial services brand of Canada's supermarket chain company, Loblaw Companies.
Two different subsidiaries fully owned by Loblaw Companies provide services under the brand President's Choice Financial: MasterCard credit card services are provided by Federal President's Choice Bank and insurance provided by PC Financial Insurance Brokers.
Video President's Choice Financial
Services
MasterCard credit card
The MasterCard Master Choice credit card from President is issued by President's Choice Bank, a subsidiary of Loblaw Companies. PC Mastercard has no relationship with CIBC, although cash withdrawal fees are negligible on CIBC bank machines.
MasterCard PC Financial is embedded with PayPass technology. [1] In November 2014, Ugo Wallet, a mobile wallet app for Android launched in partnership with TD Canada Trust. In addition, users can store PC credit cards on Apple Pay and Android Pay.
Insurance
President's Choice offers car insurance and home insurance, borne through a brokerage model by selected Canadian insurance companies, pet insurance, covered by SecuriCan General Insurance Company, and travel insurance by Travel Guard Canada as general managing underwriter and agent for American Home Assurance. Company. President's Choice stopped offering their home and car insurance offerings to new customers in 2009 for a short period when structural changes were made. During this time, the previous partnership with Aviva ended. Their home and car insurance products returned under separate "intermediary models" in January 2010. Home and car insurance is offered in Ontario, Alberta, New Brunswick, Prince Edward Island, Nova Scotia, and Newfoundland.
Maps President's Choice Financial
Former service
Consumer banking
Standard consumer banking products (checking accounts, savings accounts, loans, mortgages) are provided as a joint venture with the Canadian Imperial Bank of Commerce that began in 1996. CIBC offers credit lines, loans, Registered Retirement Pension Plans (RRSPs) President's Choice under license except between January 2001 and October 2005 when banking services are provided by Amicus Bank (a subsidiary of CIBC). Service is available in all Canadian provinces, except Quebec [2] . All PC Financial bank accounts have the same bank number as CIBC (010), and are located under one transit/branch number (30800).
To benefit from low cost and down payment structures, clients perform their banking transactions on the Internet, on PC- or CIBC branded ATMs, by phone or directly in limited locations. PC Financial does not have branches; not a private deal done in a pavilion located within Loblaw's affiliated stores. As of January 2009, there are 234 pavilions in Canada. [3]
Presidential Choice The consumer financial banking services are rated by JD Power and Associates as having the highest customer satisfaction among medium-sized Canadian banks in 2007, 2008, 2009, 2010 and 2011. [4]
On August 16, 2017 it was announced that the Loblaw and CIBC Companies have decided to terminate their joint venture to provide consumer banking products. All PC Financial mortgages, loans, investments and bank accounts are transferred to CIBC's new direct banking brand, Simplii Financial, effective November 1, 2017. Credit card and PC Financial insurance products are not affected by the decision, and continue to be offered by a subsidiary of Loblaw Company. At the time of consumer product announcement consumers have about 2 million subscribers.
PC Financial consumer banking services are operated by CIBC so that, through CIBC, it is a member of the Canadian Bankers Association (CBA). CIBC is a registered member of Canada Deposit Insurance Corporation (CDIC), a federal agency that guarantees eligible deposits in all Canadian charter banks, and expanded coverage to PC Financial banking issued by CIBC.
Ombudsman
As required, the President's Choice Bank has an independent Ombudsman to review customer complaints. By 2014 the office receives 6 complaints, 2015 offices receive 9 complaints, and the same number in 2016 is 9 complaints.
Points
Customers with MasterCard Finance Main Choice product collect Optimum PC benefits points on all purchases with their credit card.
References
Footnote
- ^ BMO closes the location of the supermarket
- ^ 2010 Customer Satisfaction Study of Canadian Retail Banking
- ^ PC Financial Online Application
- ^ Presidential Finance FAQs
- ^ PC MasterCard
See also
- List of banks in Canada
- Presidential Option
- Simplii Financial
External links
- Presidential Finance Options
Source of the article : Wikipedia
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