Learn more: Surviscor’s likes and dislikes about TD Canada Trust
Best online banking firms for service
Before Canada adopted digital banking, customer service was measured by evaluating email, face-to-face and phone interactions between a customer and a service provider. Today, the measurement extends beyond those three types and includes form-based interactions, live chat, virtual assistants and social media interactions, as well as the ability to book in-person or virtual meetings using digital platforms. It appears that as one method becomes too expensive or poorly serviced, another so-called innovative, marketing-hyped method is introduced with no improvements to the overall service experience.
Surviscor analyzes three aspects of customer interaction, including pre-login and logged-in interactions, the methods of interaction offered through desktop and mobile, and the overall service responsiveness of each firm. Our proprietary mystery shopping program has accumulated over 115,000 interactions over the past 16 years, covering a total of 45 banking and brokerage firms.
In Surviscor’s opinion, customer service now finds itself on a slippery slope. We feel that digital banking firms are prioritizing servicing customers where it is convenient for themselves—not their customers. For example, virtual assistants are marketed as leading-edge but are really just a kind of interactive FAQ. Overall, despite the increased methods of interacting, our data shows that Canadians are not receiving better service levels than they did a decade ago. For example, in 2024, the consumer banking industry responded to our mystery shopping inquiries in 39 hours on average, the same amount of time as in 2015. A deeper dive into the average of the top 15 firms indicates a slight 20% decrease in response times over the same 10-year period, which is promising.
That said, Simplii Financial stands out for offering superior service through digital platforms. Both Simplii and Winnipeg-based Assiniboine Credit Union answer in less than two hours on average—and neither is a Big Five bank.
Gold – Best for Service: Simple Financial
Simplii Financial, CIBC’s discount banking arm, is our top choice for overall service experience in 2025, scoring 45 out of a possible 80 points. Simplii Financial has the strongest results in our mystery shopping program. Among 142 interactions recorded in 2024, it averaged a less-than-one-hour turnaround on anonymous service inquiries.
Learn more: Surviscor’s likes and dislikes about Simplii Financial
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