When it comes to personal banking, more Canadians are putting down their laptops and picking up their handheld devices. According to the Canadian Bankers Association’s (CBA) How Canadians Bank in 2026 survey, banking with an app is on the rise across generations.
Generational Shift Toward App-Based Banking
The growth in the use of banking apps isn’t just driven by younger customers, with one in five Baby Boomers now relying on an app. Those using an app to conduct the majority of their banking transactions include:
- Almost half (45 per cent) of Gen Z, people born between 1997 and 2012
- Nearly half (47 per cent) of Millennials, people born between 1981 and 1996
- Four in 10 (41 per cent) Gen Xers, people born between 1966 and 1980
- Close to one in five Baby Boomers (19 per cent), people born between 1946 and 1965
Digital Banking Growth Continues
The survey found that 82 per cent of Canadians are using digital channels (either online or app) to conduct the majority of their banking transactions, up from 68 per cent in 2016. The increasing use of digital banking is reshaping how Canadians bank day to day, with average monthly branch visits declining to 1.5 from 1.8 in 2018, although 71 per cent of Canadians still expect to visit a bank branch five years from now.
The poll also found that:
- 82 per cent of Baby Boomers and 77 per cent of Silent Generation Canadians (those born between 1928 and 1945) use digital channels for most banking transactions
- 88 per cent of Canadians used online banking in the past year, up from 76 per cent in 2016, with 45 per cent citing it as their primary banking method
- 78 per cent of Canadians used a banking app in the past year, up from 44 per cent in 2016; with 37 per cent stating it is their primary banking method
“Canadians have embraced the convenience and flexibility of digital banking, while continuing to value the support they can rely on when they want in-person service,” said Anthony G. Ostler, President and CEO, Canadian Bankers Association. “Whether it’s managing day-to-day finances through a mobile app, sending an e-Transfer, or speaking with an advisor for more complex advice, Canadians want banking options that are secure, accessible and tailored to their needs. These findings reflect how banks are continuing to create solutions to offer clients options and flexibility alongside customer expectations.”
Digital Payment Technology Also on the Rise
As financial technology continues to advance, consumer payment habits have also evolved. More Canadians are turning to digital payment options, and report using e-Transfer twice as much as they did in 2018. One in four (25 per cent) expect to use e-Transfers more frequently over the next five years. They also report using tap and pay an average of 13.5 times per month, up from 9.1 times per month in 2018.
