About 80 per cent of Canadians say low or no fees is their definition of good banking, but only 35 per cent say that’s what they’re getting, according to a Leger survey conducted for PC Financial.
The survey found fees topped Canadians’ list of frustrations (71 per cent), followed by “surprise costs” (42 per cent). A majority (59 per cent) say they would switch financial institutions to save money.
The top reasons that would entice Canadians to make the switch would be a financial institution that saves them money or offers no-fee banking (59 per cent) and offers rewards (31 per cent). ◊