A report from KPMG says most Canadians rarely visit bank or credit union branches to do their daily banking, but they are happy to have the option.
The survey indicates that 48% of respondents say they visit a branch at most once or twice a year, and another 26% say they visit once every few months.
However, 86% of respondents said “that proximity to a branch provides them with a sense of security that they value and want to maintain, even if they do most of their banking online or on their mobile device,” is written in a press release broadcast by KMGP Tuesday morning.
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The survey also indicates that 90% of respondents think it is essential that Canada's major banks maintain branches in rural areas and small towns, particularly in areas where high-speed internet access is not available. available.
The top reason for visiting a bank or credit union was to deposit or withdraw money (53%).
The second most cited reason was opening an account, at 12%.
These “simple” operations no longer justify large branch networks, says Geoff Rush, partner and national leader of KPMG Financial Services in Canada.
“Financial institutions must innovate to optimize the use of their branches,” he said. It notably offers shared banking centres, sales modules and mobile branches.
The KPMG report was based on an online survey of 2,058 Canadians conducted between September 15, 2023 and September 20, 2023. Online surveys do not have an assigned margin of error, as the population is not sampled randomly.
