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Online Banking Review

Canadian Online Banking Analysis

Surviscor introduced the Canadian Online Banking scorCard™ in January 2009. The Online Banking scorCard™ measures both service components and the online features and functionality of both the visitor and secure online banking websites to generate competitive rankings. All firms must have both a public, non-secure online site as well as a transactional, secure client site.

Surviscor's Online Banking scorCard™ is a comprehensive, impartial audit of online features and functionality at major Canadian banking institutions. This simulated-usage study measures over 3800 objective criteria questions within 400+ main criteria divided into 38 sub-categories that are weighted according to industry-defined importance.

The number of main categories were expanded to eight in 2016 with the addition of a standalone Service category and an overview of the Surviscor Mobile Banking Review. The Rates and Fees category was expanded and several sub-categories were adjusted and repositioned to better align the analysis with the needs of the consumers.

The main categories reviewed are:

  • Getting Started - The Public Site Introduction
  • Service Level Assessment
  • Mobile Accessibility
  • Website Usability
  • Account Support
  • Website Transactions
  • Website Resources
  • Rates and Fees

The scheduled release of the next scorCard™ is:

  • April/May 2017

For the fifth time in six years, RBC Royal Bank has been named the best firm for online banking services in Canada. Scotiabank and BMO Bank of Montreal maintained their respective second and third place rankings.

Desjardins and TD Canada Trust changed spots in 2016 while CIBC once again finished in fifth. Coast Capital Savings was the top credit union in the review despite its tenth place finish.

If you are questioning our rankings or perhaps your own current choices or if you would like to CREATE YOUR OWN RANKINGS using your OWN preferences, visit the Do-It-Yourself Zone and let our scorCHOICE tool do the rest.

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CLICK on any firm for more information.

RESULTS:

1 RBC Royal Bank 84%
2 Scotiabank 82%
3 BMO Bank of Montreal 78%
4 Desjardins 77%
5 CIBC 76%
6 TD Canada Trust 73%
7 Tangerine 72%
8 National Bank of Canada 65%
9 PC Financial 61%
10 Coast Capital Savings 60%
11 Meridian Credit Union 58%
12 Conexus Credit Union 57%
13 Canadian Direct Financial 56%
14 Alterna Financial Group 55%
15 BlueShore Financial 54%
16 Vancity 54%
17 HSBC 49%
18 Laurentian Bank of Canada 40%



Current Rank 1
Overall Score (%) 99
Current Service Rating (%) 85
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Current Rank 3
Overall Score (%) 71
Current Service Rating (%) 85
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