global payment network Former services Consumer banking (1996–2017) Standard consumer banking products (chequing accounts, savings accounts, loans, mortgages) were provided as a joint venture with the Canadian Imperial Bank of Commerce which began in 1996. CIBC offered lines of credit, loans, Registered Retirement Savings Plan (RRSPs), and mortgages using the President's Choice brand under license, except for between January 2001 and October 2005 when banking services were provided by Amicus Bank (a CIBC subsidiary). Services were available in all Canadian provinces, except Quebec. All PC Financial bank accounts had the same bank number as CIBC (010), and were located under one transit/branch number (30800). Clients performed their banking transactions on the Internet, at a PC- or CIBC-branded ATM, by telephone, or in person at pavilions located inside Loblaw-affiliated stores. President's Choice Financial consumer banking services were ranked by J.D. Power and Associates as having the highest customer satisfaction among mid-size Canadian banks in 2007, 2008, 2009, 2010, and 2011. On August 16, 2017 it was announced that Loblaw Companies and CIBC had mutually decided to terminate their joint venture to provide consumer banking products. 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. At the time of the announcement the consumer banking products had approximately 2 million customers. Ombudsman As required, President's Choice Bank has an independent Ombudsman to review customer complaints. Points Customers collect PC Optimum reward points on purchases made with their President's Choice Financial Mastercard credit cards. See also List of banks in Canada President's Choice Simplii Financial References Footnotes BMO closes supermarket locations 2010 Canadian Retail Banking Customer Satisfaction Study PC Financial Online Application President's Choice Financial FAQs PC MasterCard External links President's Choice Financial Canadian Imperial Bank of Commerce Insurance companies of Canada Supermarket banks Loblaw Companies Financial 1996 establishments in Ontario Companies based in Toronto Financial services companies established in 1996