Canada: willingness to change primary bank 2023

Willingness to change primary banks increased notably between 2019 and 2023 among bank account holders in Canada. According to Statista's Consumer Insights, the share of bank account holders who were willing to change their primary bank on the next possible occasion was 21 percent in the fourth quarter of 2023, seven percentage points higher than in the first half of 2019. This increasing trend correlates with the decreasing satisfaction with primary banks in the country.

Share of customers willing to change their primary banks in Canada from 1st half 2019 to 4th quarter 2023

Characteristic	Share of respondents
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-	-
-	-
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-	-
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Release date

February 2024

More information

Region

Canada

Survey time period

H1 2019 to Q4 2023

Number of respondents

1,986 respondents

Age group

18-64 years

Special properties

bank account holders

Method of interview

Online survey

Supplementary notes

The original question was phrased by the source as follows: "How likely are you going to change your primarily used bank on the next possible occasion? (single-pick)." One selection of the following answers were possible:
- Very likely
- Likely
- Neither likely nor unlikely
- Unlikely
- Very unlikely
- Don't know

The displayed figures were recorded based on the above question. The number of respondents differs in each survey update. More information on the methodology can be found here.

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