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Data for today’s episode is provided by Mercator Advisory Group’s Report: North American PaymentsInsights, Canada: Data Summary Report; ATM Usage and Preferences
Canadian Attitudes Toward ATM Surcharges by Household Income:
- 76% of Canadians earning $100K+ do anything they can to avoid paying ATM surcharges, compared to 75% of those earning under $100K.
- 64% of Canadians earning $100K+ actively seek out ATMs that are in surcharge-free networks, compared to 60% of those earning under $100K.
- 54% of $100K+ earners occassionally pay ATM surchases, but try to use their bank’s machines, compared to 48% of those earning under $100K.
- High income earners are more likely to never have paid an ATM surcharge.
- 45% of $100K+ earners have never paid an ATM surcharge, versus 36% of those earning under $100K.
- 29% of $100K+ earners do not pay ATM surcharges because their bank reimbuses their ATM fees, versus 20% of those earning under $100K.
About Report
Mercator Advisory Group’s most recent report, North American PaymentsInsights, Canada: Data Summary Report; ATM Usage and Preferences documents consumers’ current usage metrics of ATMs in the Canadian national market. The survey of 1,000 Canadian adults (December 2020) represents a continuation of a series of consumer and business surveys conducted annually by Mercator Advisory Group since 2009.
This Data Summary Report presents the survey results for Canadian consumers’ use of ATMs, through commonly-used graphs with core demographic breakdowns, for easy incorporation in planning/analysis documents. This is just one of multiple Data Summary and Analysis Reports on Canada which will be made available to program subscribers from this survey, on topics including “Buy Now, Pay Later” lending, bill payment, subscription buying, fraud experiences, and effects of the COVID-19 pandemic.
“These survey results provide up-to-date baseline data for financial institutions and other stakeholders serving the Canadian market,” stated Amy Dunckelmann, Vice President, Research Operations at Mercator Advisory Group. “Documenting Canada’s unique consumer profile is key for providers serving or entering this diverse market.”
