According to a three-year survey, the share of Canadian respondents without access to a bank account slightly increased between 2017 and 2021. The increase seemed especially fueled by the increase of the "unbanked" population - or those who did not have access to the services of a bank or another, similar financial organization - among the poorest respondents as well as women. The share of respondents who were classified under the poorest 40 percent of the country, for example, grew from 0.2 percent in 2017 to 0.6 percent in 2021. The source does not mention whether the figures were rounded. That said, Canada's unbanked population remained relatively small.
Share of unbanked individuals in Canada in 2011, 2014, 2017 and 2021 with a forecast for 2024, by age, gender, and income level
Entire civilian, noninstitutionalized population; * The data for 2024 is a forecast calculated by Statista; The figures shown are from a global survey held every 3 years. Data for 2021 - the most recent year available - was released in June 2022.
Method of interview
Face-to-face interviews, telephone interviews
Supplementary notes
This question was phrased by the source as follows: "An account can be used to save money, to make or to receive payments, or to receive wages or financial help. Do you, either by yourself or together with someone else, currently have an account at a bank or another type of formal financial institution? Yes or no?"
The source only provided figures for those who answered "yes". The figures shown have been calculated.
Figures for 2024 are a forecast from Statista. Historical figures were used in a linear trend, to form a simple trend projection. This extrapolation uses the method of least squares.
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Statista. (March 11, 2024). Share of unbanked individuals in Canada in 2011, 2014, 2017 and 2021 with a forecast for 2024, by age, gender, and income level [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1379480/access-to-financial-services-in-canada/
Statista. "Share of unbanked individuals in Canada in 2011, 2014, 2017 and 2021 with a forecast for 2024, by age, gender, and income level." Chart. March 11, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1379480/access-to-financial-services-in-canada/
Statista. (2024). Share of unbanked individuals in Canada in 2011, 2014, 2017 and 2021 with a forecast for 2024, by age, gender, and income level. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1379480/access-to-financial-services-in-canada/
Statista. "Share of Unbanked Individuals in Canada in 2011, 2014, 2017 and 2021 with a Forecast for 2024, by Age, Gender, and Income Level." Statista, Statista Inc., 11 Mar 2024, https://www.statista.com/statistics/1379480/access-to-financial-services-in-canada/
Statista, Share of unbanked individuals in Canada in 2011, 2014, 2017 and 2021 with a forecast for 2024, by age, gender, and income level Statista, https://www.statista.com/statistics/1379480/access-to-financial-services-in-canada/ (last visited November 21, 2024)
Share of unbanked individuals in Canada in 2011, 2014, 2017 and 2021 with a forecast for 2024, by age, gender, and income level [Graph], Statista, March 11, 2024. [Online]. Available: https://www.statista.com/statistics/1379480/access-to-financial-services-in-canada/
