Reviewed by Jen, founder of MoneyMint · Updated September 25, 2026
PC Money Account Review
Our take: A no-fee hybrid account that splits into a fee-free Spending side and an optional 2.2% Savings side, and earns PC Optimum™ points on everyday purchases — especially strong at Loblaw-banner grocery stores and Shoppers Drug Mart. Worth knowing before you apply: PC Financial was acquired by EQB, the parent company of EQ Bank, in a deal that closed July 1, 2026, so its banking side may look more like EQ Bank’s over time even though PC Optimum stays Loblaw-owned.
- Goes straight to PC Financial
- Our review
The PC Money Account is PC Financial’s all-in-one banking product: a no-fee Spending account for everyday transactions, plus an optional Savings feature that pays 2.2% interest once you add your SIN and split the account. It’s built around PC Optimum™ — you earn points on debit purchases, with bigger multipliers at Loblaw grocery banners and Shoppers Drug Mart — on top of standard banking features like free Interac e-Transfers and no foreign exchange fees. One important update for anyone considering it: EQB, the parent company of EQ Bank, completed its acquisition of PC Financial from Loblaw on July 1, 2026, and is now PC Optimum’s exclusive banking partner, though PC Optimum itself remains a Loblaw-owned loyalty program.
MoneyMint rating
#1 of 16 chequing accounts · How we rate
$0
real annual cost — the fee, or the interest given up on the balance that waives it, whichever is lower. Run your own numbers →
Not Sure? Three Accounts People Compare It With
EQ Bank Personal Account
Pick this instead if you want a similar spend-and-save hybrid account, but from EQ Bank directly with a higher standing interest rate and no loyalty-points dependency.
Fee $0Rate up to 2.75%
Neo Chequing Account
Pick this instead if you’d rather earn cash back on purchases than loyalty points, from another no-fee digital-first account.
Fee $0Rewards Cash back
Simplii No Fee Chequing
Pick this instead if you want a straightforward no-fee chequing account without a loyalty-points program or pending bank acquisition to track.
Fee $0Transactions Unlimited
PC Money Account Review
Fees and rates confirmed September 25, 2026
Fees, rates and the EQB acquisition details in this review were confirmed on pcfinancial.ca on September 17, 2026. MoneyMint does not currently have an affiliate relationship with PC Financial; this review is independent editorial content. PC Financial’s rates, fees, PC Optimum earn rates and ownership structure can change — EQB completed its acquisition of PC Financial from Loblaw on July 1, 2026. This is general information, not financial advice — confirm current rates and terms on PC Financial’s own page before you open an account.
Frequently Asked Questions
Is PC Financial still owned by Loblaw?
No. EQB, the parent company of EQ Bank, completed its acquisition of PC Financial from Loblaw on July 1, 2026. Loblaw continues to own and operate the PC Optimum™ loyalty program itself, and EQ Bank is now its exclusive banking partner. PC Financial says there are no immediate changes to interest rates, fees, or points earned as a result.
How do I earn interest with the PC Money Account?
Interest isn’t automatic. You need to add your Social Insurance Number (SIN) to your account, which splits it into a Spending side and a Savings side, then transfer funds into Savings to start earning 2.2% interest with no minimum balance required.
How many PC Optimum points does the PC Money Account earn?
You earn 10 points per $1 at Loblaw banner grocery stores, 25 points per $1 at Shoppers Drug Mart, and 5 points per $1 everywhere else you use your card. You can also earn up to 5,000 points a month for setting up payroll or pension direct deposit, and up to 5,000 points a month for automatic bill payments.
Does the PC Money Account have a monthly fee?
No. There’s no monthly fee and no minimum balance requirement on either the Spending or Savings side of the account.