Canadian Tire money

Canadian Tire money
argent Canadian Tire (French)
10¢ and $1 Canadian Tire money
Denominations
Symbol	$
Banknotes	5¢, 10¢, 25¢, 50¢, $1 & $2
Coins	$1
Demographics
User(s)	Canadian Tire, and other businesses in Canada
Issuance
Central bank	Canadian Tire
Printer	Canadian Bank Note Company & British American Banknote Company.
Mint	Royal Canadian Mint (coin only)

Canadian Tire money (CTM) is a loyalty program by Canadian Tire, a Canadian retailer. It consists of coupons, issued by the company, which resemble the real currency before the introduction of the polymer bills (although the coupons are considerably smaller than Bank of Canada notes). 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 real Canadian currency used to be printed on, 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). Some privately owned businesses in Canada accept CTM as payment (see history below), since the owners of many such businesses shop at Canadian Tire. In Canadian Tire stores, CTM is accepted for Canadian money at par.

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 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. The print on the 'notes' refers to them as "cash 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 0.5% according to customer service in August 2014. 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.)