President’s Choice Financial revolutionized banking in Canada. President’s Choice is a name recognized by most Canadians and associated with the food brand present in supermarkets owner by Loblaw Companies Limited Corporation. They are Canada’s largest food distributor. By bringing in President’s Choice Financial they became a leader in financial services with arguably the smartest Canadian business model for banking.
President’s Choice Financial banking services are provided through the Canadian Imperial Bank of Commerce. President’s Choice Financial Checking accounts are simply free for most of their customers. That’s right! Free! There are some certain transactions that require a fee be paid, for instance a stop payment for a check or to return payment of an online bill transaction. When you compare the fees paid at most Canadians banks for checking accounts it is impossible to resist wanting to cross over to President’s Choice Financial.
When a newly built Real Canadian Superstore or some other Loblaw Companies Limited owned store would open, President’s Choice Financial would open a small kiosk like office for people to sign up for their accounts and services. The no fee checking account was and still is the biggest selling feature of their services. Each of these kiosks would remain open for as many years as possible until they manage to sign up enough customers in the particular area, and then close up.
People who prefer having to go into a bank are least likely to sign up for this kind of checking account. However President’s Choice wisely covered this niche by reminding customers that they can visit any CIBC branch if they need to speak to anyone in person. For the majority of President’s Choice checking account customers, banking by internet and phone is all they need. Their major market is the people who wish to not visit a branch location.
Of course thanks to technology, applying for a President’s Choice Financial Account is easier than ever. So if you live in an area with no Loblaw owned Supermarket, you can simply go online to apply for the account! It is an easy and comfortable process that will have you using a free checking account in no time at all.