CIBC rebrands PC Financial to Simplii Financial following end of partnership [Update]

PC Financial customers will be mostly unaffected by the rebranding

Comments

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  • rPacific

    PCF has been my go to banking service since they opened. I’ve had great service, no service fees for anything ever, in fact I have had hundreds of dollars back in PC points used to buy products at their stores. Unfortunately, I think those days may now be gone. CIBC along with all the other big banks salivate on nickel and diming their customers to death.

    • Balls

      Same here. The article says that access to CIBC banks is free of charge (whatever that means), but in the email I received from PC/CIBC we (PC financial customers) now have to pay a fee to withdrawal money from CIBC machines from now on. NO THANKS.

    • Russ

      I don’t think there’s a fee for CIBC, but the email is a bit confusing.

      “Accessing your banking: You will continue to have free access to over 3,400 bank machines across the CIBC network, and enjoy the convenience of 24/7 banking over the phone at 1‑888‑723‑8881, online, and through the mobile app.”

      “Bank Machines: Between N‌ovember 1, 2017 and M‌arch 31, 2018, CIBC-operated bank machines in Loblaw locations will be removed in phases. As a CIBC banking customer, withdrawal fees will apply at any new in-store bank machines, and you will be notified of a fee at the machine. As always, you can continue to access the CIBC network of bank machines free of charge.”

      I think what this means is that we’ll be charged fees at bank machines that get installed in Loblaws stores AFTER CIBC removes their machines. It’s not worded very well.

    • Balls

      Agreed, it could have been worded a little better.

    • No, it says that you’ll keep using CIBC machines for free (like you always could). What its saying is that the machines inside Loblaws can now be anything. Its basically a heads up to people because the PC/CIBC machine will be removed from Loblaws but many Loblaws locations will presumably replace it with some other third party ATM (since it’s pretty common for supermarkets to contain an ATM). Some people may get confused by this and think the new ATM loblaws puts in will still be free (since they’re used to having a free atm inside loblaws for years). This is just to let them know that if/when loblaws puts in new ATMs they wont be free.

    • Balls

      Ah, thanks for the clarity!

    • deltatux

      But PCF has always been just a brand, CIBC handled all the back office stuff & actually provided the service all this time. This is only a brand change…

    • rPacific

      True CIBC handled the process, but the fees or lack there of were dictated from PCF. Somehow I don’t see CIBC under cutting their own brand. This is no different from the cell companies, Telus/Koodo, Rogers/Fido, etc.

    • deltatux

      Scotiabank has been pretty successful with Tangerine, it looks like CIBC is itching to copy & compete, so I doubt they’ll get rid of this.

  • alexb88

    Really? Simplii? Did they run this by a focus group of 13 year olds?

    • 13 year olds would think that name is ridiculous. I think they ran it by a group of 50 year olds who were told to put themselves in the mindset of 13-18 year olds

  • alexb88

    “both of Canada’s only direct banking options have been co-opted by one of the big five banks.”

    There are more than just two direct banks in Canada. There is Alterna Bank and Motive Financial for example.

    • deltatux

      Was about to post this but you beat me to the punch. Both Alterna & Motive offer better rates & arguably larger ATM network thanks to The Exchange network.

      There are also other options like credit unions who offer no-fee chequing accounts with branch access. In Ontario, there’s DUCA for instance that offers no-fee chequing that includes branch transactions for free.

    • Stephen B Morris

      Hmmm. Good to know. Thanks!

  • ciderrules

    So will we see Apple Pay on Simplii now?

    • Rev0lver

      You would ask that question….

    • It’s Me

      It’s a valid question. PC has been holding off on adding debit, so maybe Simplii will.

    • Rev0lver

      Just poking fun at his ability to turn any discussion on here towards anything Apple.

      Apple is his whole life so I’m just having a bit of fun.

    • ciderrules

      Ask him why his posting history is private. Nothing sets off a POS troll than pointing that out to them.

    • Rev0lver

      No. It doesn’t set me off at all. It just shows that you have some strange obsession with me. Now, I’m flattered that you’re so interested in me but it’s really kind of pathetic.

    • Marshall Davidson

      You and I totally agree on this point. This clown loves posting stories he has nothing worthy to say at all and what’s hilarious is that he thinks he’s funny and provides levity.

    • Rev0lver

      If it’s hilarious, then by definition it’s funny. Is English your second language?

    • Marshall Davidson

      No but it seems that its your second language. I guess you can’t differentiate the hilarity of your posting here in your mistaken belief that what you have to say is amusing or funny.

      Please stop embarrassing yourself. It’s sad and pathetic.

    • Rev0lver

      Nope. English is my third language after Sarcasm and Swahili.

      Admit that you’re Shogun old friend.

  • flower_petals

    I loved this point program. So many free groceries. I’m sad lol

    • Stephie

      You can still get grocery points with the PC points app – sometimes you get more because they have bonus deals on items that are only through the app iirc

    • vn33

      You can still get points if you have a PCF MasterCard.
      The credit card still stays with the PCF branding.

  • Marshall Davidson

    I can understand people’s desire to save money on banking fees and that PC Financial and Tangerine cater to this but the bottom line is you get what you pay for and often times when you run into difficulties, you see up close and personal just how bad the customer service can be with these virtual banks.
    I had an account at PC some years ago and frankly can’t say it was a good experience. Cheap azz outfit top to bottom.

    • Rev0lver

      It’s the same customer service as with the big guys. You just pay less for it.

      Is there anything you do like Shogun?

    • ciderrules

      No it’s not. My wife is on PCF while I’m with TD bank. When everything is working smoothly there’s really no difference between the two. When she has a problem she spends forever on the phone on hold (or trying to wait in a line up at Superstore) while I just go to my nearest TD branch and take care of things in person.

      Do you ever travel? Try getting some foreign currency with a virtual bank. Buy anything expensive? Try getting a bank draft from a virtual bank. Need more cash (or want to deposit cash) over the limits of an ATM? Even something as simple as getting rolls of quarters or loonies can’t be done at a virtual bank.

      OP is 100% correct when he says the customer service is worse with a virtual bank.

    • Rev0lver

      I disagree. I’ve never had a problem with the customer service.

      With regards to your second paragraph, you’re talking about services that you just shouldn’t expect from a basic outfit like PC financial. It has nothing to do with customer service. Try and stay on topic.

    • ciderrules

      OP also said “you get what you pay for”. That’s reflected in the services you get and how you get them. For example, getting a bank draft mailed to you instead of picking it up in person. It’s Absolutely relevant.

      BTW, nice to see you’re still a coward hiding behind a private post history.

    • Rev0lver

      I was talking about customer service, try and keep up.

      Virtually every poster hides their history. Your obsession with mine is flattering but ultimately creepy and sad.

    • Marshall Davidson

      Since when is waiting on the phone for up to 30 minutes or longer qualify as good customer service? Get real will ya pal.
      Like I said you get what you pay for when you pay nothing and so therefore a customer shouldn’t expect much if things go wrong.

    • Rev0lver

      There there Shogun. It’s ok that you’re wrong yet again. Just accept it and move on old friend.

    • Dale

      I have never once spent 30 minutes or longer on the phone with PC financial, I am actually pleased with their short wait times.

    • Dale

      I have done all of the above, I have stood in line at CIBC and they gladly exchanged currency for me, that and CIBC machines deposit and withdrawal US currency, I have also done the same at a TD bank with cash.

      I have ordered 2 bank drafts in my life, had them rush ordered to the closest CIBC branch to my house (for a fee,) picked up the draft within hours of hanging up the phone with the PC financial customer service.

      I have withdrawn over my limit, I called customer service and told them the ammount I intended to withdrawal, they told me that I can do that with my next withdrawal only, and they put a time limit on my withdrawal for security reasons.

      I have been a customer with PC Financial for over 10 years, my only complaint I had was their mortgage team is awful, I dealt with this one mortgage specialist that was rude. I switched to a Mortgage broker because I couldn’t stand dealing with him.

    • Marshall Davidson

      More proof you have little idea what you’re talking about and Cider’s post below just proves why.
      Why don’t you give your yap a rest.

    • Rev0lver

      You didn’t give it a rest when you were banned three or four times. Why should I give it a rest Shogun?

      You were wrong (yet again). Just admit it and move on old friend.

    • Marshall Davidson

      Banned? Lol. Okay whatever you say. You still don’t deny your contributions here are worthless and off-topic no matter what forum you choose to urinate on.

    • Rev0lver

      Oh come on now Shogun, don’t play coy with me.

      Admit that you’re Shogun and you won’t hear from me again old friend.

    • Stephen B Morris

      To be fair, the big banks don’t provide good customer service either. That industry definately needs changes. Or a disruptor of some sort.

    • deltatux

      Credit unions exist, there are many of them that frankly do a much better job at banking than the Big 5. If Canadians shop around their banking needs like they do with clothing or cars, competition would be greater than they are now. Most people stick to their financial institution because that’s what their parents had gone with.

      I switched out to my credit union a couple years ago, my banking experience has since been nothing but stellar. Since all members are shareholders, you get the ability to have a voice.

  • Jon Duke

    Well there’s a card I’m cutting. All I use it for is grocery cause of the points. They go up fast.

  • Pete

    In about 2 years CIBC will shut down Simplii and offer a fee based account. This is what happened with BizSmart. Remember that?

    • ticky13

      Remember Tangerine? Oh wait, they are still fee-free despite being run by Scotia for years now.

  • Rob

    So the trade is an ok looking reskin for the loss of the points on my debit usage? Its now just a basic digital product. Not even a competing credit card – though it always was a pain they didn’t link. CIBC put a lot of effort into the new colour, name, and Instagram stock photography, but no loyalty incentive. So someone will win a reward for the new look but they’re ok with the potential alienation of customers?

    I’ll stay for now but I hope that PCF/Shoppers figure out a product that gives me what I lost.

  • Gabe

    No one mentioned the free interac etransfers. This puts them at a huge competitive advantage over Tangerine, and if they add Apple Pay and Android Pay as a feature, I will likely switch from Tangerine to using Simplii as my daily bank.