Digital banking leads the way

A new survey shows that more than three-quarters of Canadians now do their banking through digital channels, up from 68 per cent two years ago. The poll commissioned by the Canadian Bankers Association found that 53 per cent say online banking is their most common way of banking. The biannual online survey also showed the second-highest ranked banking method was via mobile app, at 23 per cent. Just 12 per cent of respondents said they mainly did their banking in person, and 10 per cent said they largely used automated banking machines. The association says this marks a sharp change from its first poll 16 years ago when 40 per cent said they mainly banked at an ABM, 30 per cent went in person to branches and only 16 per cent banked online. The online survey of 4,000 adult Canadians was conducted in December 2018.