Effective November 1, 2017, the jointe venture between Loblaws and CIBC (who ran PC Financial) will terminate. Going forward, PC Financial’s banking clients (over 2 million) will be transferred to CIBC’s new direct banking subsidiary Simplii Financial.
However, the PC Financial’s credit card customers remained unaffected. Which means that the PC Points program with continue business as usual and still run by Loblaws. Do note when your PC Financial banking service is move to Simplii, you will no longer automatically accumulate PC Points with your banking services.