Insight. Innovation. Industry.
Finance /  •

Canadians hate paying bank fees

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). ◊