Canadians would rather earn points on the money they spend than interest on what’s in their accounts: survey


Published April 1, 2021 at 12:40 am


How would you feel about a loyalty rewards program… from your bank?

A recent survey from PC Financial found Canadians are concerned about monthly banking fees and want to start earning loyalty points on spending.

According to the findings, 43 per cent of respondents would rather earn points on the money they spend, than interest on the money in their account.

Additionally, 23 per cent are looking for more opportunities to earn loyalty points on purchases to better manage their finances during the pandemic.

“Four-in-five Canadians are planning or taking steps to better manage their finances since the pandemic began,” Barry Columb, president of PC Financial, said in a news release.

“With interest rates at all-time lows, the first thing they should do is stop paying hundreds of dollars annually on banking fees and upgrade to a no-fee account that also rewards them with points on purchases,” he continued.

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