On November 1, 2017, PC Financial was re-branded as Simplii Financial direct banking, with CIBC taking over the day-to-day banking services (chequing, savings, and mortgages) under the Simplii brand. Loblaws continued to manage the PC Financial-branded Mastercards and PC Plus loyalty program (now PC Optimum).2 Jan 2022
What bank is associated with Simplii Financial?
CIBC
Who is PC Financial owned by?
Loblaw Companies Limited
Is Simplii Financial part of PC Financial?
The company kept control of its PC Mastercard business, which has more than three million clients. But about two million clients who had PC bank accounts were moved to Simplii Financial, a new digital-banking brand owned by CIBC, and PC Financial received compensation in return.14 Sept 2020
Is PC Financial and Simplii the same?
All PC Financial mortgages, loans, investments, and bank accounts were transferred to CIBC's new direct banking brand Simplii Financial effective November 1, 2017. PC Financial's credit card and insurance products were unaffected by the decision, and continued to be offered by subsidiaries of Loblaw Companies.
Is Simplii owned by PC?
But about two million clients who had PC bank accounts were moved to Simplii Financial, a new digital-banking brand owned by CIBC, and PC Financial received compensation in return.14 Sept 2020
What is a PC bank account?
The term "PC banking" refers to the online access of banking information from a personal computer. PC banking enables an account holder to perform real-time account activities and effectively manage finances in a way that avoids the hassle of daytime bank visits and eliminates the postage required to pay bills by mail.
What bank owns CIBC?
Formerly The PrivateBank and Trust Company
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Total assets $17.7 billion (2016)
Owner Canadian Imperial Bank of Commerce
Parent CIBC Bancorp USA (formerly PrivateBancorp Inc.)
Website us.cibc.com
Can Simplii customers use CIBC tellers?
Simplii customers will be able to use CIBC's automated teller machines for free as they did under PC Financial, as well conduct their banking online, via telephone and mobile, said Mike Boluch, CIBC's executive vice-president of direct banking, innovation and payments.16 Aug 2017
Can I use my Simplii card at CIBC?
Yes, you can use your Simplii credit card to review your credit card account details or to withdraw cash at any Visa Plus* network ATM or CIBC ATM.