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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 Vary By Age:
- 85% of adults 55+ will do anything they can to avoid paying ATM surcharges–the highest of any age group.
- In comparison, 75% of consumers ages 35-54 and 63% of consumers ages 18-34 will do anything to avoid paying surcharges.
- At 44%, young adults (18-34) are the most willing to pay ATM surcharges to use a convenient machine.
- In comparison, just 15% of adults 55+ and 22% of adults ages 35-54 are willing to pay surcharges to use a convenient ATM machine.
- 32% of adults ages 18-34 don’t pay ATM surcharges because their bank or credit union reimburses their ATM fees.
- In comparison, 21% of adults ages 35-54 and 18% of adults ages 55+ have their ATM fees reimbursed by their bank or credit union.
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.”