Lovin' PC Financial Banking

xarir · Aug 23, 2005

Meister said:
I think it's important that we keep the big 5 banks strong. They are more or less world players.

I beg to differ. The Canadian banks are obviously big in Canada, but that's it. These banks are bit players (if that) on the global market. Go outside of Canada and you won't really hear about a Canadian bank, but you will hear lots about others.

Meister · Aug 23, 2005

xarir said:
I beg to differ. The Canadian banks are obviously big in Canada, but that's it. These banks are bit players (if that) on the global market. Go outside of Canada and you won't really hear about a Canadian bank, but you will hear lots about others.

Not true. Most American banks believe it or not are small because they tend to be regional except for some big players. The CIBC has branches around the world. TD/Waterhouse is big in the US. Few years ago I went to a branch of the Bank of Nova Scotia in bloody Greece out of all places.

Sure they don't rank up there with Deutsche Bank and Hong Kong Bank, but I sure wouldn't want our banking sector be dominated by PC and ING.

ham2004 · Aug 23, 2005

PC is as good as it gets

Got my mortgage with them.. they are very competitive in the market..

goodtime · Aug 23, 2005

Meister said:
Not true. Most American banks believe it or not are small because they tend to be regional except for some big players. The CIBC has branches around the world. TD/Waterhouse is big in the US. Few years ago I went to a branch of the Bank of Nova Scotia in bloody Greece out of all places.

Sure they don't rank up there with Deutsche Bank and Hong Kong Bank, but I sure wouldn't want our banking sector be dominated by PC and ING.

What're you talking about? Xarir is right. In terms of asset & size, Canadian 5 are barely on the map. When compare to Assets of the superbanks: the Japanese, Dutch, Arab's, HSBC, Citibank...

TD Waterhouse is only big in NY, they're aggressive with their ads, marketing and sponsoring event for the perception. TD is selling their shares of Waterhouse btw.

B of M big in Midwest with Harrisbank but that's it.

CIBC is big in the island and just along for the right with U.S. banks doing corp. lending like Enron .

Sure, they have some presence in China but big deal.

Try look for the big 5 in London, Germany, Tokyo, Singapore, Chicago, Amst, Paris, or any other cities where there are major Financial capital or exchanges.

goodtime · Aug 24, 2005

Pedro Sanchez said:
Im still nervous when it comes to online/telephone banking. Can someone please answer the following questions.

Is this method of banking safe? How so?
have you experienced any problems? (Switching over accounts, money transfers?)
I have bill payments that automatically come out of my account. How is easy is it to set this up at PC?
Is it convient?
Who do i yell at when something goes wrong?
Are you satisfied with the banking and the service?

Please help put my mind at ease. SO i too can enjoy PC banking.

Thanks

There are 24 hr numbs for Online banking if you run into trouble or question. As long as you have anti-virus & firewall, don't surf & click every weblink to download trojans or worms, it's as safe as doing it in person.

Same goes for phone banking offered by Canada trust. Regular deduction works same way. Check your statement as you should. All banks make mistake and many go unnotice, speaking from experience.

t8rs · Aug 24, 2005

goodtime said:
What're you talking about? Xarir is right. In terms of asset & size, Canadian 5 are barely on the map. When compare to Assets of the superbanks: the Japanese, Dutch, Arab's, HSBC, Citibank...

I remember hearing that awhile ago. It would take a merger between two of them to even make a blip on the world radar. Someone dig up some numbers?

Meister · Aug 24, 2005

goodtime said:
What're you talking about? Xarir is right. In terms of asset & size, Canadian 5 are barely on the map. When compare to Assets of the superbanks: the Japanese, Dutch, Arab's, HSBC, Citibank...

I never said they were super banks. But, I am glad they are as big as they are. The last thing you want is full out deregulation and have a Savings and Loan crisis of pittily little banks like they did in the US.

Pedro Sanchez · Aug 24, 2005

goodtime said:
There are 24 hr numbs for Online banking if you run into trouble or question.

What do you mean by 24 hour numbs?

EntrepreneurGuy · Aug 24, 2005

source: Bankers Ratings 2005

RBC Canada's largest is 22% the asset size of the world's largest and 47th as reported by the Bankers Ratings 2005.

"Asset Rank
2004".............Bank.....Country (Year End) Assets ($millions CDN)
1 UBS Switzerland(12/04)........................$1,845,162
2 Citigroup U.S. (12/04)..........................$1,786,264
3 Mizuho Financial Group Japan (03/05)......$1,559,796
4 HSBC Holdings U.K. (12/04)...................$1,536,730
5 Crédit Agricole Groupe France (12/04).....$1,496,131
6 BNP Paribas France (12/04)...................$1,485,136
7 JP Morgan Chase & Co. U.S. (12/04).......$1,392,864
8 Deutsche Bank Germany (12/04)............$1,377,153
9 Royal Bank of Scotland U.K. (12/04)........$1,347,406
10 Bank of America Corp U.S. (12/04).........$1,336,546
47 Royal Bank of Canada Canada (10/04).......$417,086
58 Toronto-Dominion Bank Canada (10/04).....$301,241
60 CIBC Canada (10/04).............................$270,148
62 Scotiabank Canada (10/04)....................$268,314
63 Bank of Montreal Canada (10/04).............$256,199
120 Desjardins Group Canada (12/04).............$103,575
141 National Bank of Canada Canada (10/04).....$84,530

sum of canada's bank assets (7 above)..........$1701093
would place it 3rd after Citigroup US

orkut · Aug 24, 2005

I've been with PC Financial for the past year and I haven't had a problem.

goodtime · Aug 25, 2005

Call center girls...

Pedro Sanchez said:
What do you mean by 24 hour numbs?

24 hr phone # to call with live person to help resolve problems or give financial advice.

And damn, there are some fine looking call center girls...

GoLeafsGo · Aug 29, 2005

Question

Kommander1975 said:
PC Financial also gives a credit card to virtually anybody, while the strict goons at BMO's "Mosaik" expect you to be Bill Gates to issue you a credit card.

Why aren't people flocking to PC financial in droves?

Question: is it true that PC will give a Mastercard to "virtually anybody"?? My neighbour said he wants a new credit card. Something that would allow him to transfer his existing VISA balance to a lower interest rate card. He has about a $6000 balance I think but has never missed a payment, although at times he has only paid the minimum amount.

Problem: he has only been at his current job for about two months (I think he does telemarketing now, which is well above minimum wage but certainly doesn't make him a millionaire) and his longest previous job only lasted for one year. Would PC give him a Mastercard??

strange1 · Sep 2, 2005

I think PC is mad at me for paying off my card every month. My most recent statement says:

"...If you choose, simply don't pay this month's statement. You'll still acrue interest, but your account will remain in good standing. ..."

It was good for a laugh.

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Lovin' PC Financial Banking

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