# PC Financial in Quebec?



## chilly (Apr 3, 2009)

Hi all,

I'm a Quebec resident and have for long been hoping to see PC Financial (no fee) Banking be made available to Quebec residents. Every so often I check the Quebec PC Financial website but unfortunately I don't see an option to log in to PC Banking.

I've just recently come across some comments on a MillionDollarJourney blog entry stating that some people (living in QC) have been able to open an account simply by going to a PC Financial outlet in Ontario.

Is that true? Could anyone relay their experience doing this?

Thanks for your help!
Michael


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## brad (May 22, 2009)

Yes, it's true -- I've read similar comments on the Canadian Capitalist blog and elsewhere.

You just have to go to a PC Financial kiosk anywhere in Ontario; visit the PC Financial site to find the nearest one to you; I occasionally go to Ottawa so figured I'd set up my account there if I ever get around to it.

While the PC Financial option is interesting to me, I've also heard rumours for awhile that ING Direct may offer a no-fee chequing and ATM account here in Canada, similar to what they offer in the States. I've been holding out for that because I already have several accounts with ING and this would make life a lot simpler, although it's entirely possible that it won't be available in Québec either.


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## bgc_fan (Apr 5, 2009)

brad said:


> Yes, it's true -- I've read similar comments on the Canadian Capitalist blog and elsewhere.
> 
> You just have to go to a PC Financial kiosk anywhere in Ontario; visit the PC Financial site to find the nearest one to you; I occasionally go to Ottawa so figured I'd set up my account there if I ever get around to it.


I'm curious as to how one could do this. With a Quebec address I wouldn't expect it to be possible to open an account. FWIW I have a PC Financial account, but I opened when I was living in Ontario, and I'm living in Quebec right now. I could not change my address to a Quebec address, so I'm using my parents' Ottawa address.

I remember asking why it wasn't available in Quebec, but I believe Quebec has its own financial regulations.

The fun part of the move was that my RRSP account is still in Ontario, so neither the Quebec or Ontario TD branches would help me since I need someone who has qualifications in both provinces.


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## brad (May 22, 2009)

bgc_fan said:


> I'm curious as to how one could do this. With a Quebec address I wouldn't expect it to be possible to open an account.


Read comments 13 and 14 here:

http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm

Note that I haven't tried this myself, but I remember reading several other comments on blogs and discussion forums that it can be done.


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## bgc_fan (Apr 5, 2009)

brad said:


> Read comments 13 and 14 here:
> 
> http://www.milliondollarjourney.com/high-interest-rate-savings-accounts.htm
> 
> Note that I haven't tried this myself, but I remember reading several other comments on blogs and discussion forums that it can be done.


Hmm, looking at this site it gives the reason: mainly that one needs to open the account in person due to Quebec's consumer protection laws.

http://www.canadiancapitalist.com/no-fee-chequing-account-from-citizens-bank/

But that doesn't quite explain why the Quebec website wouldn't allow you to log into a banking account, though you can log into a Mastercard and PC points account.

At any rate, I find that HSBC direct savings account offers a slightly higher interest rate and does the same job for me. It also has the advantage of using the Exchange network so you can use The National Bank ATMs which are more common than CIBC in Quebec.


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## high octane (Jul 21, 2009)

> The fun part of the move was that my RRSP account is still in Ontario, so neither the Quebec or Ontario TD branches would help me since I need someone who has qualifications in both provinces.


Seems like I have these kind of issues all the time. I _love_ temporarily living in Quebec


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## investnoob (Jun 29, 2009)

When I lived in Quebec (in hull), all my banking was done at an ottawa branch of TD. 

When I first called the td branch (it was close to my work location), they indicated that they would not be able to do anything for me over the phone because I lived in Quebec.

I had to go in person, to the branch, to open my chequing and savings account. This was almost 11 years ago, and I still have the accounts. 

I think it was to do with certain financial regulations in Quebec? I don't know, but it seems like they can do business with me as long as I was physcially in Ontario, my province of residence didn't matter.

Now, I live in ottawa, so I never bothered to research what the issue was.


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## brad (May 22, 2009)

investnoob said:


> I had to go in person, to the branch, to open my chequing and savings account. This was almost 11 years ago, and I still have the accounts.


This is true: I have an account at TD here in Montreal, and while I can do basic online banking they don't allow you to apply for loans or do anything else online or over the phone, you have to physically go to the branch.

We're very old-fashioned here in Québec. I like it, though -- for one thing it forces me to get out of my office (I work at home) and see people. It's a drag, though, because the closest TD branch is about 45 minutes from my house, so it takes a chunk out of my day to go there and come back.


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## bgc_fan (Apr 5, 2009)

investnoob said:


> I think it was to do with certain financial regulations in Quebec? I don't know, but it seems like they can do business with me as long as I was physcially in Ontario, my province of residence didn't matter.


That didn't seem to work for me. I first went to the Quebec branch, and they said they couldn't do anything. Then I went to the Ontario branch, and they said the same thing. Physically, both times, not over the phone if I wasn't clear. And I'm talking about this year.

Then the Ontario branch said because I needed someone qualified financially in both provinces. The easiest way to do that was to do it over the phone. So I wasted my time throughout the whole thing.

Back to the original subject, I recall I went to one of those kiosks in Ontario to change my address, but Quebec was not an option for a province (the computer system wouldn't accept it), so I really don't know how others were able to do it.


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## Farly (Aug 18, 2009)

bgc_fan said:


> I'm curious as to how one could do this. With a Quebec address I wouldn't expect it to be possible to open an account. FWIW I have a PC Financial account, but I opened when I was living in Ontario, and I'm living in Quebec right now. I could not change my address to a Quebec address, so I'm using my parents' Ottawa address.
> 
> I remember asking why it wasn't available in Quebec, but I believe Quebec has its own financial regulations.
> 
> The fun part of the move was that my RRSP account is still in Ontario, so neither the Quebec or Ontario TD branches would help me since I need someone who has qualifications in both provinces.


Both my wife have changed our addresses with PC Financial from BC to Quebec over the phone. One thing that is rather odd, if you go to your identification info it will show your province as "select province". I called and they indeed have our address as Quebec.


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## mario 1 (Nov 6, 2009)

bgc_fan said:


> Hmm, looking at this site it gives the reason: mainly that one needs to open the account in person due to Quebec's consumer protection laws.
> 
> http://www.canadiancapitalist.com/no-fee-chequing-account-from-citizens-bank/
> 
> ...



Is HSBC a no fee bank like PC?


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## Savingmoney (Dec 28, 2009)

why not try ING DIRECT, they have no fees and they have great rates.


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## bgc_fan (Apr 5, 2009)

mario 1 said:


> Is HSBC a no fee bank like PC?


I have a HSBC Advance Savings Account (used to be the Direct Savings Account). It's an on-line account, and there are no fees and no in-branch service. The interest rate has dropped quite a bit down to 0.80%, but I opened it primarily for access at international ATMs (uses the Cirrus network whereas my CIBC uses the Plus network).


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## chilly (Apr 3, 2009)

Savingmoney said:


> why not try ING DIRECT, they have no fees and they have great rates.


I do actually have an account at ING - but I use this account as a high interest savings account. I don't need high liquidity or immediate access to cash for this account.

I'm thinking of using PC to take advantage of their low fees, good rates, and ability to use the account as a chequing account, as well as having fast access to cash through PC or CIBC ATM machines.

I guess I've been procrastinating - haven't set up the account yet


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