Affiliate disclosure: This article contains referral links for Simplii and American Express — if you sign up through them, we may earn a commission at no extra cost to you. For PC Financial, use referral code SH61642897 when you sign up. It never affects what we recommend.
Here’s a question I hear from beginners all the time: “Which one should I get — Simplii, PC Financial, or Amex?” The honest answer is that these aren’t really competitors. They’re three different tools that fit together: one is a bank account, one is a grocery-rewards ecosystem, and one is a travel credit card. Pick the right one for each job, and you get a complete no-fee money setup.
This guide breaks down what each one actually does, what it costs, and how to combine them into a simple stack — in plain English, for Canadians.
The Quick Verdict
- Simplii Financial — your everyday bank account. No monthly fees, solid savings rate, backed by CIBC. Start here.
- PC Financial — your grocery and drugstore rewards machine. The PC Money account and PC Mastercard turn Loblaws and Shoppers spending into PC Optimum points. Add it if you shop at Loblaw stores.
- Amex Marriott Bonvoy — your travel card. The only one of the three with an annual fee ($120), but it earns hotel points and comes with a free annual hotel night. Add it only if you travel.
Most beginners do well with Simplii + PC Financial. Add Amex when travel enters the picture.
Simplii Financial: The No-Fee Bank Account
Simplii is a digital bank backed by CIBC — over 2 million Canadians use it, and deposits are CDIC-protected (shared with CIBC’s coverage). There’s no branch to walk into; everything runs through the app and website. That’s the trade for the price: $0.
What it costs: The No Fee Chequing Account has no monthly fees and no minimum balance requirement. New chequing clients can currently earn a $350 cash bonus by setting up an eligible direct deposit of $100 or more and keeping it active for 4 months (offer ends January 31, 2027 — terms apply).
Savings: The High Interest Savings Account is currently paying a 4.60% special rate for 5 months on eligible deposits up to $200,000 (offer ends October 31, 2026). After the promo period, the rate drops to the regular posted rate — so treat the 4.60% as an intro, not a promise.
Also worth knowing: Simplii offers a Cash Back Visa card with a welcome offer of up to $100 cash back in the first 3 months on eligible gas, grocery, drugstore, and pre-authorized spending. Because Simplii runs on CIBC’s rails, you get access to CIBC’s ATM network.
Open a Simplii account with this referral link
PC Financial: The Grocery Rewards Ecosystem
PC Financial is the financial arm of Loblaw, and everything it offers is built around one currency: PC Optimum points. (10,000 points = $10 in rewards at Loblaw stores and Shoppers Drug Mart.) If you buy groceries at Loblaws, No Frills, or Real Canadian Superstore, or shop at Shoppers, this is where the value lives.
PC Money Account: A no-monthly-fee bank account with unlimited everyday transactions and free Interac e-transfers. It earns PC Optimum points on spending: 5 points per dollar everywhere Mastercard is accepted, 10 points per dollar at Loblaw grocery banners, and 25 points per dollar at Shoppers Drug Mart. There’s an optional savings feature paying 2.2% interest. Free cash withdrawals at 740+ PC Financial ATMs across Canada; other ATMs may charge. Deposits are CDIC-protected through President’s Choice Bank. Note: no paper cheques, and the card only works where Mastercard is accepted.
PC World Elite Mastercard: The no-annual-fee credit card. It earns 45 points per dollar at Shoppers Drug Mart (4.5%), 30 points per dollar at Loblaw banner grocery stores (3%), and 10 points per dollar everywhere else (1%). The catch: it requires $80,000 personal or $150,000 household income to qualify — if you don’t clear that bar, the regular PC World Mastercard has lower earn rates with a lower income requirement.
Welcome offers on PC products change regularly — check the current bonus on their site before applying.
Enter this code when you sign up for a PC Money Account or PC Mastercard at pcfinancial.ca so your referral is tracked.
Amex Marriott Bonvoy Card: The Travel Card
This is the odd one out: the only product here with an annual fee, and the only one aimed at travel rather than everyday money. The Marriott Bonvoy American Express Card earns Marriott Bonvoy points — 5 points per dollar at Marriott hotels, 3 points per dollar on gas, dining, and travel, and 2 points per dollar on everything else. There’s no minimum income requirement.
What it costs: $120 annual fee. In return, you get 15 Elite Night Credits each year toward Marriott status, complimentary Silver Elite status, and — the headline perk — an Annual Free Night Award (worth up to 35,000 points) after each card anniversary. One free hotel night a year usually covers the $120 fee on its own if you’d stay at a Marriott anyway.
Welcome bonus: Amex runs rotating welcome offers on this card (recent offers have ranged up to 70,000–110,000 points with minimum spend requirements). These change often — check the current offer on Amex’s site before applying.
The honest trade-off: Amex acceptance in Canada is narrower than Visa or Mastercard. Notably, Loblaw banner grocery stores don’t accept American Express — which is exactly why this card pairs with (rather than replaces) the PC Mastercard for grocery spending. Put everyday spending where each card earns best.
Apply for the Marriott Bonvoy Amex with this referral link
Head-to-Head
| Simplii | PC Financial | Amex Marriott Bonvoy | |
|---|---|---|---|
| What it is | Online bank account | Bank account + no-fee credit card | Travel rewards credit card |
| Monthly/annual fee | $0 | $0 | $120/year |
| Main reward | Cash bonus + high savings rate (promos) | PC Optimum points (groceries, Shoppers) | Marriott Bonvoy hotel points |
| Best for | Everyday banking, emergency fund | Loblaw/Shoppers shoppers | Travellers who stay at hotels |
| Biggest limitation | No branches | Rewards locked to Loblaw ecosystem | $120 fee; Amex not accepted everywhere |
The Money-Stack Playbook (How to Combine Them)
Here’s the simple setup that covers a beginner’s whole financial life:
- Paycheque lands in Simplii. No monthly fee, no minimum balance. Park your emergency fund in the High Interest Savings Account while the promo rate lasts.
- Groceries and drugstore go on the PC card. If you shop at Loblaws, No Frills, or Shoppers, the PC World Elite Mastercard (or PC Money Account) earns 3–4.5% back in points where you’d spend anyway. Remember to use referral code SH61642897 when signing up.
- Travel spending goes on the Amex. Gas, dining, travel, and Marriott stays earn 3–5x points. The annual free night covers the $120 fee if you travel even once a year.
- Pay every card in full, every month. This is the whole game — interest charges (around 21.99% on the PC card) wipe out any rewards in a single month. Rewards are a bonus on spending you’d do anyway, never a reason to spend more.
Who Should Skip Each
- Skip Simplii if you need in-person branch banking — it’s digital-only.
- Skip PC Financial if you don’t shop at Loblaw stores or Shoppers — the points won’t add up elsewhere, and a plain cash-back card would serve you better.
- Skip the Amex if you rarely travel or stay in hotels — $120 a year for points you’ll never use is just a fee. Also skip it as your only card, since Amex acceptance gaps (including Loblaw grocers) mean you’ll need a Visa or Mastercard backup.
The Bottom Line
Stop asking “which one” and start asking “which for what.” Simplii handles your banking for $0. PC Financial turns your grocery run into points. Amex turns your travel into free hotel nights. Together they’re a complete beginner money stack for under $120 a year — and two-thirds of it is free.
Checked October 2026. General money education only — not financial advice; see our disclaimer.