Debit cards are more than just a payment method; they serve as gateways to financial management, budgeting tools, and, for many Canadians, symbols of financial responsibility. Datos Insights found that 97% of Canadian consumers have debit cards at their primary financial institutions, nearly equal to checking accounts, highlighting these products’ fundamental role in banking relationships.
This report covers account opening trends associated with debit cards, outlining consumer adoption rates, financial institution (FI) selection drivers, and key preferences of debit cardholders in Canada. It is based on a Q1 2024 Datos Insights survey of 4,634 consumers in the U.S., Canada, and the U.K.
Clients of Datos Insights’ Retail Banking & Payments service can download this report.
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