STUDENTS USE MORE THAN ONE BANK, SURVEY SAYS
By Adnews Staff
More than half of Canada's post-secondary students use more than one bank, according to s survey by Clegg Campus Marketing of Toronto. Royal Bank of Canada leads the way in primary banking relationships with 23% of respondents saying it was their main bank. Canadian Imperial Bank of Commerce was second with 14.1%, Desjardins was third with 13.6% and the Bank of Montreal was fourth with 11.6%. CIBC and the Bank of Montreal were the first selection among secondary banks, while the Royal Bank was second with 13.2% and Toronto Dominion Bank third at 12.3%. Ninety-six per cent of students use their debit card at least once a week. Over 23% use it five times a week. Over 61% of students use automated teller machines most of the time to do their banking. Just over 21% do in-branch banking most of the time, while direct payment is used 13.4% of the time and the phone is used just over 1% of the time. When asked which banks they feel offer the best package of banking services to students, 25.8% of the respondents didn't know. Just over 21% said it was the Royal Bank, more than 17% said it was Desjardins and 15.2% said it was the Bank of Montreal.