The April 2025 report shows that 97% of Canadian consumers hold debit cards at their primary financial institution, nearly matching checking account ownership. Debit cards are tied with credit cards as the preferred method for daily purchases, though credit dominates for larger transactions. Only 14% opened a new debit card account in the past year, indicating high loyalty. Despite 58% preferring to open accounts in branches, digital adoption is growing. Physical card design influences choice for 18% of consumers. However, just 30% use their primary institution for new accounts, signaling weak cross-selling performance.

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