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How to Buy Crypto with President’s Choice Bank in Canada

Last updated on November 12, 2023

Quick Summary: While President’s Choice Bank does not offer cryptocurrency trading through its own platform, you can make use of your account to purchase crypto through a third-party exchange.

There are a lot of Canada cryptocurrency exchanges to pick from, but we suggest using the Binance.

They offer the majority of most well-known cryptocurrencies and are simple to use. They have lots of advanced features but are also great for beginners.

President's Choice Bank Homepage

As mentioned in my quick summary, like most Canada banks, President’s Choice Bank doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a crypto trading platform and comes with regulations and extra work for the banks.

There are a large number of crypto trading platforms that you can use to buy Bitcoin and other cryptocurrencies.

Once you’ve signed up to a crypto exchange (in our example I’ll be using Binance as it’s a highly trusted and global exchange), you can easily move money from your bank account to the trading platform., and exchange it for a variety of cryptocurrencies.

How to buy crypto or bitcoin with PC Financial

Let’s get started! Just follow our 4 quick steps.

1. Pick a cryptocurrency trading platform

As mentioned above, I’ll be using Binance for this guide as they are a widely used exchange and have a huge range of cryptocurrencies to choose from. It’s also one of the best exchanges for beginners and allows more advanced features when you get more comfortable with trading.

The steps in this guide should be similar for most trusted crypto exchanges, so feel free to use whichever you end up going with.

Let’s get started!

2. Create account with the trading platform

You’ll first need to create an account if you haven’t already, you can do using this quick link below.

Sign Up With Binance

Once you’ve filled out the basic information you’ll be asked for KYC (Know Your Customer) information, this is normal for crypto exchanges to stop any bad activity. This will often be called the “verification” process.

3. Fund your account

Next, you’ll need to add funds to your account using any of their deposit methods. For Binance there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy crypto

Lastly, you’ll need to go to the “trade” section, this will differ for each exchange but it will usually have some variation of this.

It’s that easy! You’ve now got the tools to buy your first cryptocurrency with President’s Choice Bank.

Buy Crypto With Binance

About President's Choice Bank

President’s Choice Financial (French: Services financiers le Choix du President), often abbreviated to PC Financial, is the name of the financial service division that is part of Loblaw Companies, a Canadian grocery chain Loblaw Companies.

Two wholly owned affiliates that are part of Loblaw Companies provide services under the brand name President’s Choice Financial Personal banking as well as Mastercard cards are offered by the Federally chartered President’s Choice Bank, and insurance is offered through PC Financial Insurance Brokers.

The majority of Loblaws and Loblaws-owned shops offer access to a PC Financial ATM. The ATMs can be used at free for PC Financial MasterCard holders. Other customers who make use of ATM (including Simplii) ATM (including Simplii) will be charged fees.

Consumer banking services that are standard (chequing accounts and savings accounts, mortgages, loans) were made available through a joint venture partnership in partnership with Canadian Imperial Bank of Commerce that was established in 1996. CIBC provided credit lines and loans, registered Retirement Savings Plan (RRSPs) and mortgages using the brand President’s Choice under license, excluding between January 2001 and October 2005 , when banking services were offered through Amicus Bank (a CIBC subsidiary). The services were offered in every Canadian provinces, with the exception of Quebec . Each of the PC Financial bank accounts had the same bank code that was CIBC (010) and all were managed under a single branch/transit code (30800).