Managed Payment won't recognize President's Choice bank?

[coinsanddolls]

I just tried signing up for managed payments using a bank account at President's Choice Financial.

eBay keeps saying their Financial Institution Number is invalid.

Has anyone been successful signing up using this bank?

[ypdc_dennis]

If you mean the current version of PC Financial -- then

According to wikipedia: Unlike conventional chequing accounts in Canada, the PC Money account does not use the Interac network on domestic debit transactions, as the card operates exclusively on MasterCard’s global payment network.

Which might be an issue, or it might be they are too new (having started up their money account in Sept/2020).  

According to Wise.com:

The institution number for President's Choice Financial is 010.

The President's Choice Financial transit number is 30800.

...

The previous version of PC Financial banking became simplii.com (owned by CIBC).

-;-

[femmefan1946]

I signed up with Simplii and the name does not appear on eBay's dropdown list, which is nerve-wracking.

Yes. I gave in and am now in MP.

And our local heatwave (Over 25C!!!!) dropped today, the first day of being enrolled to 18C.

The conclusion is obvious.

Oh-- I thought the bank info wasn't "taking" until I noticed that Simplii is recorded as CIBC but with the numbers that ypdc_dennis gave.

[pjcdn2005]

Yes. I gave in and am now in MP.

And our local heatwave (Over 25C!!!!) dropped today, the first day of being enrolled to 18C.

The conclusion is obvious.

-----------

Are you saying that joining MP has stopped global warming?🤣

[femmefan1946]

Well all my research proves it... and I heard it on The Rebel.

[electronicifycanada]

Yes I use PC bank with eBay and it works good. Hope this helps!

[emilyandpamela]

I wanted to use it for managed payments and couldn't link it up. I finally talked to someone and they said it's because it's not a brick and mortar bank that's the reason I can't use it

[femmefan1946]

That's wrong .

Tangerine is on the list and I was able to add Simplii (CIBC) to the list and so far so good.

Oh-- looking at the bank ID numbers that dennis gave above-- PC Financial is Simplii.

And confusingly, in the signup process Simplii is identified as CIBC, which owns it.

[drwho534]

Yep! Encountering the same issue...signed up with a PC Financial Account in order to keep things separate from a regular bank account and even though there is supposedly a connection with CIBC I am unable to connect?  So I'm assuming one would have to have a regular CIBC account instead? Things we're so much easier when we we're able to use PAYPAL!!!

[reallynicestamps]

I tried to use Simplii/CIBC for two of my accounts.

One was and is fine.

The other took Simplii for a while, then stopped.

After discussion with eBay (which included whining and moaning and silent cursing) I gave in and set up the problem-wracked account with another bank.

You do have to use a CHECKING  account. Does PC Financial use that?
My Simplii account gave me both a debit card and a chequebook.  And a paper invoice once a month.

[marnotom!]

---

@drwho534 wrote:

Yep! Encountering the same issue...signed up with a PC Financial Account in order to keep things separate from a regular bank account and even though there is supposedly a connection with CIBC I am unable to connect?  So I'm assuming one would have to have a regular CIBC account instead? 

---

Loblaw severed its banking connections with CIBC a few years ago.  PC Financial as it exists now is not affiliated with any of the Big Banks and its "money accounts" are not traditional savings or chequing accounts.

https://www.finder.com/ca/pc-money-account-review

If you've signed up with PC Financial recently, this may be why you're having problems linking it to your eBay account.