Canadian Tire money

Canadian Tire money
argent Canadian Tire (in French)
Banknotes5¢, 10¢, 25¢, 50¢, $1 & $2
User(s)Canadian Tire, and other businesses in Canada
Central bankCanadian Tire
PrinterCanadian Bank Note Company & British American Banknote Company.
MintRoyal Canadian Mint (1 Dollar coin only)

Canadian Tire money, officially Canadian Tire 'money'[1][2] or CTM, is a loyalty program operated by the Canadian retail chain Canadian Tire. It consists of coupons, issued by the company, which resemble real banknotes. It can be used as scrip in Canadian Tire stores, but is not considered a private currency. The notes are printed on paper similar to what Canadian currency was printed on when they were still paper, 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).[3] Some privately owned businesses in Canada accept CTM as payment (see history below), since the owners of many such businesses shop at Canadian Tire.[citation needed] In Canadian Tire stores, CTM is accepted for Canadian money at par, ie; 1 Canadian Tire Dollar = 1 Canadian Dollar.

In April 2018, Canadian Tire announced that they would be shifting to Triangle Rewards, a card based rewards program.[4] Paper Canadian Tire Money continues to be issued and accepted alongside the new program.

History and dynamics[]

A recognizable facet of CTM is the man featured on the face of each bill. According to Canadian Tire representatives, the fictional character represented is referred to as "Sandy McTire" and sports a tam o' shanter and a stylized waxed moustache. He is based on no specific individual but is assumed to represent a thrifty Scotsman, the 1950s everyman of blue-collar Canada.

It was introduced in 1958, and was inspired by Muriel Billes, the wife of Canadian Tire's co-founder and first president, Alfred 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 Canadian retail history.[3] The print on the 'notes' refers to them as "money bonus coupons".

Canadian Tire money is given out for purchases paid for by cash or debit, based on the pre-tax total, excluding labour and shop supplies costs. The initial coupon rate earned was 5% of the eligible purchase price, but it was lowered to 3%, then to 1.4%, and now is 0.4%.[5] Customers can use Canadian Tire money to buy anything in the store. (Older coupons state that they are redeemable at Canadian Tire stores and gas stations; however, coupons produced during at least the last 15 years lack this wording and are therefore redeemable in the stores only.)

It 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 these coupons, it is also considered as a cash purchase and more coupons will be calculated and paid out.

In Ontario, the Retail Sales Tax law and Bulletins state 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 Canadian Tire money 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; this is an ongoing issue.

In 2012, Canadian Tire began a pilot program to make its money "plastic", to make it into a more manageable and trackable loyalty program.[6] The new plastic loyalty card can earn points at more than twice the rate of the traditional paper money. According to customer service in July 2017, the rate on purchases made with the Canadian Tire "Options" card on in-store products is 4%. The reward rate for purchases at other stores is 0.8%.


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, 40 cents, 50 cents, and $1.

A $2 note was added in 1989, and the 3 cents was dropped in 1991.[7]

CTM coupons are now produced in denominations of 5, 10, 25, and 50 cents, as well as one and two dollars. In addition, Canadian Tire money can be earned electronically on Canadian Tire cr cards such as the Canadian Tire Triangle MasterCard. The latter can be used wherever MasterCard is accepted and earns Canadian Tire money no matter where it is used to make a purchase, anywhere in the world. CTM is treated as real currency by the franchise and cannot 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. If an item is bought with cash or card and is returned for a refund, the customer receives the refund less the value of the CTM issued on the item unless the CTM is also returned.

On December 2, 2009, as part of an advertised deal, Canadian Tire had handed out the first Canadian Tire coin, redeemable with the purchase of at least $40 of merchandise. Another similar deal followed in 2010 (coinciding with the 2010 Olympic Winter Games), with a three-coin winter collection. The coins can be spent in the same manner as conventional CTM.

Usage beyond Canadian Tire[]

Special issuances[]

Specially-issued 10-cent denomination of Canadian Tire currency (an in-store coupon).

A commemorative 10 cent note was released by the company between June 30 and July 2, 2017 to celebrate the 150th anniversary of the Confederation of Canada in 1867 as part of national festivities.[11]

See also[]


  1. ^ "Collecting & Redeeming Canadian Tire Money®". Canadian Tire. Retrieved July 7, 2021.
  2. ^ "Triangle Rewards FAQ". Canadian Tire. Retrieved July 7, 2021.
  3. ^ a b "Canadian Tire Scrip", Numismatist Magazine, Harold Don Allen, p.64, Volume 119, Number 12, December 2006
  4. ^ Cazzin, Julie (9 April 2018). "What Canadian Tire's loyalty changes mean to you". MoneySense. Retrieved 9 April 2018.
  5. ^ Shaw, Hollie. "Canadian Tire Corp aims to gain more customer data with new digial loyalty program". Financial Post. National Post. Retrieved 6 May 2017.
  6. ^ Flavelle, Dana (2012-02-15). "Canadian Tire "money" goes plastic". Toronto Star. Toronto, Canada: torstar digital. Archived from the original on 2012-09-11.
  7. ^ "Canadian Tire Scrip", Numismatist Magazine, Harold Don Allen, p.65, Volume 119, Number 12, December 2006
  8. ^ "ATM gives customers Canadian Tire money". CBC News. 1 December 2004. Retrieved 9 January 2014.
  9. ^ Montgomery, Shannon (2006-12-21). "Liquor store rakes in Canadian Tire Money". Archived from the original on 2018-10-05. Retrieved 2019-10-07.
  10. ^ "Corin Raymond paid for new album with stacks of Canadian Tire money". Toronto Star, January 21, 2013.
  11. ^ Canadian Tire Money Gets a Patriotic Redesign for Canada 150 Huffington Post. Retrieved July 4, 2017

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