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Government of Canada / Gouvernement du Canada

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Finding Details From 2020 to 2021, 30% of Canadians faced challenges as a result of branch closures, including challenges that could potentially have been avoided if they had had means to manage their finances online (e.g., depositing cheques, accessing funds).

Sample size

  • 10,834

Initiative

Collection dates

  • July 31, 2020 to April 19, 2021

Adopter

Related priorities

This finding relates to the following National Financial Literacy Strategy priorities and target outcomes: 

Priority 3

Support increased digital access and digital literacy

  • Target outcome 3.3
Related headlines
Headline

Almost 1 in 3 Canadians face challenges because of bank branch closures.

Branch closures can create difficulties for Canadians, especially for those who are unable to manage their finances online due to limited digital access.

The analysis is based on research and the findings supplied by the adopters of the National Financial Literacy Strategy Measurement Plan. The related findings can be found at the bottom of this page.

Source: Survey of Canadians' Use of Banking Products and Services
Related measures

The measure(s) below make up the Strategy-Aligned Measure (SAM) used to generate this finding. Please note that some SAMs require the use of multiple measures, while others work as a standalone measure. Refer to the Measures Library for more details.

Related

Have you experienced any of the following as a result of a branch closure? Select all that apply:

  • I incurred a fee to use another bank’s automated banking machine (ABM)
  • I deposited a cheque in an automatic banking machine (ABM) (or by another means) instead of cashing or depositing it in a branch
  • I cashed a federal government cheque somewhere other than at a bank
  • The bank was unable to open a bank account for me
  • I was charged fees or interest that I did not know I could be charged
  • There was a hold on my federal government cheque
  • I was unable to lodge a complaint with my bank
  • I have had difficulty contacting my bank
  • I have been unable to get issues with my bank resolved
  • I have had issues accessing my funds
  • I did not experience any issues because of a branch closure
  • Other - please specify
  • Don’t know
  • Prefer not to say
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The Financial Consumer Agency of Canada does not endorse, directly or indirectly, any adopters of the Measurement Plan, nor does it make any representations or warranties, express or implied, concerning the adopters' products or services or their fitness for a particular purpose.

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