Patterns in online banking in Canada, 2022

Release date: April 30, 2024
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Infographic: Patterns in online banking in Canada, 2022
Description: Patterns in online banking in Canada, 2022

When it comes to Internet use and online banking, Canadians fall into one of three groups:

Do not use the Internet – 5.6%

Use the Internet, but do not bank online – 16.8%

Use the Internet and bank online – 77.6%

Internet users in Quebec and Alberta were most likely to bank online


Table 1
Table summary
This table displays the results of Table 1 No online banking and Online banking (appearing as column headers).
No online banking Online banking
Canada 18% 82%
Newfoundland and Labrador 19% 81%
Prince Edward Island 22% 78%
Nova Scotia 17% 83%
New Brunswick 20% 80%
Quebec 16% 84%
Ontario 19% 81%
Manitoba 18% 82%
Saskatchewan 17% 83%
Alberta 16% 84%
British Columbia 18% 82%

Both Internet use and online banking are increasing


Table 2
Table summary
This table displays the results of Table 2 2018 and 2022 (appearing as column headers).
2018 2022
Internet use 91% 94%
Online banking 80% 82%

Among Internet users in 2022, those least likely to bank online were…

  • Older adults aged 65 years and older – 70%
  • Racialized individuals – 79%
  • Individuals with less than a high school diploma – 54%
  • Individuals not employed – 70%
  • Individuals living in families in the lowest income decile– 73%

The growth in online banking was driven by those aged 65 and older, though seniors are still the least likely of any age group to bank online.

Men and women are equally likely to bank online, but men are more likely to invest online


Table 3
Table summary
This table displays the results of Table 3 Online banking and Online investing (appearing as column headers).
Online banking Online investing
Women 82% 11%
Men 83% 24%

Source: Statistics Canada, Canadian Internet Use Survey, 2018 and 2022.

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Published by authority of the Minister responsible for Statistics Canada.

© His Majesty the King in Right of Canada, as represented by the Minister of Industry, 2024

Use of this publication is governed by the Statistics Canada Open Licence Agreement.

Catalogue no. 11-627-M

Frequency: Occasional

Ottawa

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