Shopping on line can be easy, simple and save you lots of money. It can also take a lot of your time, frustrate you, and result in unwanted purchases. Now the same can be said for regular high street shopping, but with the vast opportunity presented by the Internet it will pay you to spend a few minutes reading this and understanding how to better optimize your Canadian Tire Money shopping experience:
1. Compare - without doubt the biggest advantage that the Canadian Tire Money offers shoppers today is the ability to compare thousands of Canadian Tire Money at a time. This is a great thing, but not necessarily all the time! Too much can be daunting at times so take advantage of the great comparison sites and where possible let them do the hard work for you.
2. Research - if it has been said it will be on the internet. Ignorance is no longer a justifiable reason for buying the wrong thing. Take the time to research in detail everything that you could possible want to know about
3. Testimonials - don't know anybody that has bought a Canadian Tire Money? Wrong! If the Canadian Tire Money is good the internet will let you know. Use the Internet as a friend and get testimonials before you buy.
4. Questions - Got a question about Canadian Tire Money then search the Forums, FAQ's, Blogs etc. Don't be afraid to ask .....
5. Reputation - Never heard of the company selling Canadian Tire Money? Don't worry, no reason why you should know every company in the world, but you know someone that does! Use the internet to find out what people are saying about Canadian Tire Money and build up a picture of their reputation for sales, returns, customer service, delivery etc.
6. Returns - still worried that even after all of the above your Canadian Tire Money wont be what you want? Check out the returns policy. There is so much competition now that someone, somewhere is bound to offer the terms that you are comfortable with.
7. Feedback - happy with your Canadian Tire Money then let people know, after all you are depending on others people input in your buying decision, so why not give a little back.
8. Security - check for the yellow padlock on the Canadian Tire Money site before you buy, and the s after http:/ /i.e. https:// = a secure site
9. Contact - got a question about Canadian Tire Money, or want to leave a comment then check out the sites contact page. Reputable companies have them and respond.
10. Payment - ready to pay for your Canadian Tire Money, then use your credit card or PayPal! Be aware of companies that don't accept them, there may be genuine reasons but given the huge amount of choice you have when buying online there is no reason at all not to buy via credit card or PayPal.
Canadian Tire "money" (CTM) is a
loyalty program by Canadian Tire. It consists of coupons, issued by the company, which resemble real currency (although the coupons are considerably smaller than Bank of Canada notes), and can be used as scrip in Canadian Tire stores, but isn't considered a
private currency. The notes are printed on paper similar to real Canadian dollar, and were jointly produced by two of the country’s long established security printers, British American Banknote Company (BABN) and Canadian Bank Note Company (CBN)."Canadian Tire Scrip", Numismatist Magazine, Harold Don Allen, p.64, Volume 119, Number 12, December 2006 In fact, some privately owned businesses (in Canada) accept CTM as payment (see history below), since the owners of many such businesses shop at Canadian Tire.
History and dynamics
CTM was introduced in
1958, and was inspired by Muriel Billes, the wife of Canadian Tire's co-founder and first president, A.J. Billes, as a response to the promotional giveaways that many gas companies offered at the time. It was only available at Canadian Tire gas bars, but was so successful that in 1961 it was extended to the retail stores as well, and has become the most successful loyalty program in
Canada retail history.
Canadian Tire money is given out for purchases paid for by cash or debit, based on the pre-tax total. The amount given is not based on a specific percentage, but on a tiered system (the amount increases by 10 cents for every $7.30 you spend). Customers can use Canadian Tire money to buy anything in the store. (Older CTM coupons state that they are redeemable at Canadian Tire stores and
gas stations, however CTM coupons produced during at least the last 15 years lack this wording and are therefore redeemable in the stores only.)
The "money" can also be used to cover the sales tax on the purchases, since it is accepted as cash after the taxes are calculated. Also, even if a purchase was made entirely in CTM, it is also considered as a cash purchase and more CTM will be calculated and paid out.
In Ontario the Retail Sales Tax law and Bulletins stated that the "Coupon must be reimbursed by the franchisee". By submitting them to other merchants, the merchants were in essence breaking Ontario law when they failed to include the discount in the value of the goods being calculated for being taxed. Some merchants were accepting CTM as a discount, but then were not calculating and remitting the sales taxes, as required by law, and then were getting fined for the practice.
For this reason, among others, another loyalty programme provided in the 1960s,
S&H Green Stamps, was terminated within the province.
Denominations
In 1958, five different denominations (composed of 5-cents, 10-cents, 25-cents, 50-cents, and $1) were issued. The revision of 1962 included the introduction of four lower values (1 to 4 cents), and 12 higher denominations, including 35 and 60 cents. A sequence of six denominations was introduced in 1985 including the 3-cents, 5-cents, 10-cents, 25-cents, 50-cents, and $1.A $2 note was added in 1989, and the 3 cents was dropped in 1991."Canadian Tire Scrip", Numismatist Magazine, Harold Don Allen, p.65, Volume 119, Number 12, December 2006
CTM coupons are currently produced in 5-cent, 10-cent, 25-cent, 50-cent, one-dollar, and two-dollar denominations. In addition, Canadian Tire money can now be earned electronically on Canadian Tire
credit cards and the
Canadian Tire Financial Services. The latter can be used wherever
MasterCard is accepted and earns Canadian Tire money no matter where it is used to make a purchase at a rate of 1%. As of July 12th 2006 Cardholders no longer receive a bonus for using the Canadian Tire Card or Canadian Tire Options MasterCard at Canadian Tire Associate Stores. Before this change cardholders would receive 20% more CTM than they would by paying cash, now they earn the same amount as if it were cash or debit, however there are now many more incentives for card members. Many customers find this to be a more convenient means of storing Canadian Tire money. CTM is treated as real currency by the franchise and can not be directly exchanged for real Canadian currency for customers. If an item bought with Canadian Tire Money is returned the customer receives either Canadian Tire Money back or is given the amount on a Gift Card.
Facts and Figures
- In late 2004 in Moncton, New Brunswick, several customers at a Canadian Imperial Bank of Commerce Automatic teller machine were dispensed a total of 11 bills of Canadian Tire money instead of real bills. They were compensated by the bank.
- Contrary to popular belief, the man on the "money" is not Canada's first Prime Minister of Canada John A. Macdonald; he is actually a fictional creation named Sandy McTire.
- Canadian Tire money is the main topic of the song "La Chute du huard" (Loonie's fall) by Quebec singer Mononc' Serge, the lyrics claiming it is more stable and a better investment than the Canadian dollar.
- Culturally, Canadian Tire money is sometimes referenced by comedians: perhaps as a national version of "Monopoly money", perhaps invoking a pejorative comparison of the value of Canadian dollars against U.S. dollars (currency of a dominant Canadian trading partner), or perhaps as a misunderstood exotic element of Canadian society (cf. Ron James' comedic reference to the person depicted on the bill as "our king").
- Canadian Tire money is one of 12 forms of payment explicitly listed as allowed for use by sellers on the Canadian version of the online auction site eBay.
- In the mid 1990s, a man in Germany was caught with up to C$11,000,000 in counterfeit Canadian Tire money. It was recovered before he left for Canada to redeem it.
References
See also
External links
- Canadian Tire 'Money' — History, on the Canadian Tire website.
- Canadian Tire Currency — Canadian Tire Currency Picture Catalogue Index, 1958–2003 Issues
- Ontario Retail Sales Tax Guide 511
- The official website of the Canadian Tire Coupon Collectors Club
- Alberta liquor store accepts Canadian Tire money
Canadian Tire "money" (CTM) is a
loyalty program by Canadian Tire. It consists of coupons, issued by the company, which resemble real currency (although the coupons are considerably smaller than Bank of Canada notes), and can be used as scrip in Canadian Tire stores, but isn't considered a
private currency. The notes are printed on paper similar to real Canadian dollar, and were jointly produced by two of the country’s long established security printers, British American Banknote Company (BABN) and Canadian Bank Note Company (CBN)."Canadian Tire Scrip", Numismatist Magazine, Harold Don Allen, p.64, Volume 119, Number 12, December 2006 In fact, some privately owned businesses (in Canada) accept CTM as payment (see history below), since the owners of many such businesses shop at Canadian Tire.
History and dynamics
CTM was introduced in 1958, and was inspired by Muriel Billes, the wife of Canadian Tire's co-founder and first president, A.J. Billes, as a response to the promotional giveaways that many gas companies offered at the time. It was only available at Canadian Tire gas bars, but was so successful that in 1961 it was extended to the retail stores as well, and has become the most successful loyalty program in Canada retail history.
Canadian Tire money is given out for purchases paid for by cash or debit, based on the pre-tax total. The amount given is not based on a specific percentage, but on a tiered system (the amount increases by 10 cents for every $7.30 you spend). Customers can use Canadian Tire money to buy anything in the store. (Older CTM coupons state that they are redeemable at Canadian Tire stores and gas stations, however CTM coupons produced during at least the last 15 years lack this wording and are therefore redeemable in the stores only.)
The "money" can also be used to cover the
sales tax on the purchases, since it is accepted as cash after the taxes are calculated. Also, even if a purchase was made entirely in CTM, it is also considered as a cash purchase and more CTM will be calculated and paid out.
In Ontario the Retail Sales Tax law and Bulletins stated that the "Coupon must be reimbursed by the franchisee". By submitting them to other merchants, the merchants were in essence breaking Ontario law when they failed to include the discount in the value of the goods being calculated for being taxed. Some merchants were accepting CTM as a discount, but then were not calculating and remitting the sales taxes, as required by law, and then were getting fined for the practice.
For this reason, among others, another loyalty programme provided in the 1960s, S&H Green Stamps, was terminated within the province.
Denominations
In 1958, five different denominations (composed of 5-cents, 10-cents, 25-cents, 50-cents, and $1) were issued. The revision of 1962 included the introduction of four lower values (1 to 4 cents), and 12 higher denominations, including 35 and 60 cents. A sequence of six denominations was introduced in 1985 including the 3-cents, 5-cents, 10-cents, 25-cents, 50-cents, and $1.A $2 note was added in 1989, and the 3 cents was dropped in 1991."Canadian Tire Scrip", Numismatist Magazine, Harold Don Allen, p.65, Volume 119, Number 12, December 2006
CTM coupons are currently produced in 5-cent, 10-cent, 25-cent, 50-cent, one-dollar, and two-dollar denominations. In addition, Canadian Tire money can now be earned electronically on Canadian Tire
credit cards and the Canadian Tire Financial Services. The latter can be used wherever MasterCard is accepted and earns Canadian Tire money no matter where it is used to make a purchase at a rate of 1%. As of July 12th 2006 Cardholders no longer receive a bonus for using the Canadian Tire Card or Canadian Tire Options MasterCard at Canadian Tire Associate Stores. Before this change cardholders would receive 20% more CTM than they would by paying cash, now they earn the same amount as if it were cash or debit, however there are now many more incentives for card members. Many customers find this to be a more convenient means of storing Canadian Tire money. CTM is treated as real currency by the franchise and can not be directly exchanged for real Canadian currency for customers. If an item bought with Canadian Tire Money is returned the customer receives either Canadian Tire Money back or is given the amount on a Gift Card.
Facts and Figures
- In late 2004 in Moncton, New Brunswick, several customers at a Canadian Imperial Bank of Commerce Automatic teller machine were dispensed a total of 11 bills of Canadian Tire money instead of real bills. They were compensated by the bank.
- Contrary to popular belief, the man on the "money" is not Canada's first Prime Minister of Canada John A. Macdonald; he is actually a fictional creation named Sandy McTire.
- Canadian Tire money is the main topic of the song "La Chute du huard" (Loonie's fall) by Quebec singer Mononc' Serge, the lyrics claiming it is more stable and a better investment than the Canadian dollar.
- Culturally, Canadian Tire money is sometimes referenced by comedians: perhaps as a national version of "Monopoly money", perhaps invoking a pejorative comparison of the value of Canadian dollars against U.S. dollars (currency of a dominant Canadian trading partner), or perhaps as a misunderstood exotic element of Canadian society (cf. Ron James' comedic reference to the person depicted on the bill as "our king").
- Canadian Tire money is one of 12 forms of payment explicitly listed as allowed for use by sellers on the Canadian version of the online auction site eBay.
- In the mid 1990s, a man in Germany was caught with up to C$11,000,000 in counterfeit Canadian Tire money. It was recovered before he left for Canada to redeem it.
References
See also
External links
- Canadian Tire 'Money' — History, on the Canadian Tire website.
- Canadian Tire Currency — Canadian Tire Currency Picture Catalogue Index, 1958–2003 Issues
- Ontario Retail Sales Tax Guide 511
- The official website of the Canadian Tire Coupon Collectors Club
- Alberta liquor store accepts Canadian Tire money
