TORONTO, Jan. 25, 2012 /CNW/ - Canadians are now more likely to conduct
day-to-day banking transactions online than at a branch, according to
TNS Canada's annual How Canadians Bank survey. Half of Canadian adults (52%) conducted transactions with staff
at a branch of a financial institution in the month prior to taking the
survey, and a similar proportion (50%) had banked online in the same
period. However, online banking is used much more frequently—35% of
Canadians bank online at least once a week, compared to only 15% of
Canadians who visit a branch on a weekly basis.
"Online banking continues to steadily grow in popularity. Canadians
appreciate the convenience of 24/7 access to their accounts and the
speed with which online transactions are conducted", says Rhonda Grunier, Vice President of Financial Sector research at
TNS Canada. "But this doesn't mean that branch banking is on its way out. The
proportion of Canadians who visited a branch in the past month has been
stable since 2005. The banks recognize the value of having personal
contact with customers at the branch, and many have stepped up efforts
to attract customers to the branch, for example, by having branches
open on the weekend and improving amenities, such as adding customer
The survey also found that mobile banking is taking off, with one out of
four Smartphone owners using a mobile banking service. "This is quite an impressive number, considering that mobile banking
apps have only been fully rolled out by the banks for about a year now", says Rhonda Grunier.
About the Survey
TNS Canada's annual How Canadians Bank study has been monitoring trends
in Canadians' usage of various banking channels since 1994. For the
2011 wave, 2,009 Canadians aged 18 and over were surveyed between
October 5th and November 14th, 2011, using a self-administered questionnaire.
TNS Canada (formerly known as TNS Canadian Facts) is the Canadian arm of TNS. TNS advises clients on specific growth strategies around new market
entry, innovation, brand switching and stakeholder management, based on
long-established expertise and market-leading solutions. With a
presence in over 80 countries, TNS has more conversations with the
world's consumers than anyone else and understands individual human
behaviours and attitudes across every cultural, economic and political
region of the world.
TNS is part of Kantar, one of the world's largest insight, information
and consultancy groups.
Kantar is one of the world's largest insight, information and
consultancy groups. By uniting the diverse talents of its 13 specialist
companies, the group aims to become the pre-eminent provider of
compelling and inspirational insights for the global business
community. Its 28,500 employees work across 100 countries and across
the whole spectrum of research and consultancy disciplines, enabling
the group to offer clients business insights at each and every point of
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SOURCE TNS Canada
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