Comments on: One-day delay for transfers between PC Financial Interest Plus account and No-Fee chequing account

By: flea

flea — Fri, 14 Jan 2011 16:02:00 +0000

Same experience with me. PC automatically withdraw money from my account without notifiying me at all. They couldn’t reconcile their account and they do not admit to anything they have done wrong. They started an investigation but obviously, as expected, do not think that they are wrong again. And there goes my money to who-knows-where. The supervisor claims that they will not call anyone even if they take money away from your account and it is our responsibility to keep track of the money in our account. I feel like I have been robbed and there is nothing I can do about it. The only thing I can do is to cancel the account now.

By: Sylvia

Sylvia — Mon, 16 Nov 2009 05:09:15 +0000

Yes, PC is so screw up about the policy of having one day to transfer from Saving to Chequing. I have the same problem. When I need to pay my bill from my Chequing account and I was only few hours late in transferring, I was charge $40 for NSF fees. When I called and try to talk to the lady manager that it was a human error and I never have that NSF $$ on my account, this lady manager was so rude and did not even want to compromise.

What I did was, I order another 200 cheques. After I got my 200 cheques, I closed both my saving and chequing account at PC. I just want to let PC know that the 200 cheques that I ordered is equivalent to the $40 that I paid as a result of 2 hrs in transferring $$ from my saving a/c to the chequing a/c. Hope you guys learn to keep customer happy in order to avoid any further damages. Thank you. – Sylvia.

By: Frugal Canadian Living

Frugal Canadian Living — Tue, 29 Jul 2008 19:06:17 +0000

There is a one day delay for transfers from Savings to Cheqing, but there is no delay for transfers from Chequing to Savings. I have also always taken it to be a one business day delay.

By: Peter

Peter — Wed, 16 Jan 2008 06:29:48 +0000

I don’t know the answer to that question. Try asking it on http://www.highinterestsavings.ca

Do you mean a transfer to another Canadian bank account? And do you mean from a PC Financial No-Fee Chequing account or a PC Financial Interest Plus account?

By: Classifieds

Classifieds — Wed, 16 Jan 2008 04:07:52 +0000

Do you know if you can do E Transfers from PC? I have never done one and need to.

By: Brandon

Brandon — Sun, 28 Oct 2007 00:37:09 +0000

You know, this is sort of old news… They do this deliberately so that you are less prone to pull money out of your savings. This one policy in particular has really deterred me from throwing a lot of my hard-earned money at so many useless things.

Of course I’m sure they want to keep your money locked into their savings account so that they can use those lovely fractional reserve banking rates to earn 3 to 4 times more interest on 30 times more money than they actually have… but it still helps you keep your money deposited in a savings account.

Though I personally will not be saving my money with PC Financial anymore and will put the bulk of it into an ING account for better interest rates while I figure out how to invest it…