Funny Money

December 5, 2007

The Show

Is it coupons, or is it cash?

In our second segment, we look at Canadian Tire 'Money.' Some people love the stuff, and some people hate it so much that they make YouTube videos of themselves pushing it through a shredder. But love it or hate it, one question remains: Is it just a coupon, or is it just like real money? As Erica Johnson reports, the answer seems obvious, but a closer look reveals hidden subtleties.

Here's a chart to help.

Ways Canadian Tire 'Money' is like cash Ways Canadian Tire 'Money' is like coupons
Accepted like legal tender in Canadian Tire Stores. Not accepted at Canadian Tire gas stations.
Eagerly collected by charities. Not accepted for payments on Canadian Tire credit cards.
Stolen by burglars during residential breakings-and-enterings. Not accepted for payments on Canadian Tire mortgages.
Must be returned, along with merchandise, when merchandise is returned for cash refund. Otherwise its value will be deducted from refund total. Totally not covered by house insurance.
Good for Canadian Tire's bottom line. Good for Canadian Tire's bottom line.

December 5, 2007
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Links to more information (Canadian Tire 'Money')

It may not feel very nice to have a refund reduced by the value of the Canadian Tire 'Money' you forgot to bring back to the store, but there's nothing illegal about CT's practice. As this page from the Government of Ontario's site notes, there is no legal requirement for stores to provide refunds or exchanges at all. Other provinces have similar rules. See Saskatchewan and Alberta, for example.)

Other links:

Finally, you will probably be interested to read Wayne Frazer's blog entries about his fight with Canadian Tire over 40 cents' worth of Canadian Tire 'Money'.

December 5, 2007
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