Executive Summary

1. Background and Objectives

The Financial Consumer Agency of Canada’s (FCAC’s) priorities include promoting consumers’ awareness of their financial rights and responsibilities. FCAC’s 2020-2021 Business Plan comprises key performance indicators related to rights and responsibilities, including an indicator on the percentage of consumers who are aware of their rights and responsibilities.

A survey conducted in 2019 provided baseline results for this indicator. A reiteration of this survey in 2021 allowed for comparative quantitative data to help FCAC identify potential gaps in current awareness. The results in this report also provide data about whether FCAC is achieving the rights and responsibilities indicator established in its current business plan.

The objectives of this research were to:

· gather quantitative evidence of consumers’ awareness of certain financial rights and responsibilities

· highlight potential gaps in consumers’ awareness of certain financial risks identified in FCAC’s industry review of bank sales practices

· assess results against the rights and responsibilities indicator established in FCAC’s current business plan

· assess results against the baseline established with the 2019 public opinion research (POR) survey on rights and responsibilities

2. Methodology

Environics conducted a random-probability telephone survey with 3,008 adult residents of Canada, from March 4 to 25, 2021. This survey targeted the general Canadian population, aged 18 and over, who have a product or service with a bank or credit union. The sample comprised a mix of landline telephone sample (44%) and cellphone sample (56%), which generated 30 percent of interviews with Canadians who use their cellphone exclusively.

The six questions from the 2019 survey were repeated in 2021. The average survey length was five and a half minutes and was conducted in the respondent’s official language of choice. The sample was stratified by region to allow for meaningful coverage of lower population areas and the final data are weighted to 2016 Census information for region, age, and gender.

The survey used a random probability sample, using industry-standard random-digit-dialing (RDD) techniques. A survey of this size will yield national results which can be considered accurate to within +/- 1.8 percentage points, 19 times out of 20.

More information about the methodology for this survey is included in Appendix A.

3. Cost of Research

The cost of this research was $77,221.87 (HST included).

4. Key Findings

Canadian consumers of banking products/services were asked a series of five true/false questions to measure awareness of rights and responsibilities when dealing with financial institutions and one question about behaviour.

· The results reveal that Canadians’ awareness of the requirement to consent for certain banking products has declined, specifically that they do not have to agree to credit card insurance when applying for a card (down 5 points since 2019 to 64%), and that a bank cannot increase a credit card limit without their approval (down 3 points to 57%).

· Awareness of the other three financial rights and responsibilities was statistically unchanged from 2019. Only one-third (34%) are aware that credit card insurance will not always cover an outstanding balance. By comparison, large majorities of Canadians remain aware of their right to receive easy-to-understand information around the costs of financial products/services (81%), and that a bank cannot issue a credit card (78%) without their approval.

· Overall, seven in ten Canadians (72%) correctly answered at least three of the five factual questions, six percentage points lower than in 2019 (78%).

· A slim majority (53%) of Canadians say they almost always read the fine print before accepting a financial product/service, which is consistent with 2019 (54%). As was the case in 2019, those who first read the fine print are no more likely to answer the factual questions correctly.

The decline in the overall level of awareness about these financial rights and responsibilities is not limited to any single region or demographic segment but is generally evident across the board. The following paragraphs describe the key patterns by key segments.

· Education and income: Overall awareness (the total number of correct responses) declined most notably among those with a postsecondary education and those in the middle-income brackets (between $40K and $150K). Despite this, overall awareness remains lower among those with the lowest household incomes (under $40,000) and the lowest level of education (i.e., high school or less), as was the case in 2019.

· Gender: Awareness of the specified financial rights and responsibilities have declined primarily among women, resulting in lower levels compared to men - a gap between the genders that did not exist in 2019. The exception is that women are more aware of banks’ responsibility to provide individuals with easy-to-understand information; thus, the higher overall awareness among men is driven by their stronger awareness of other statements.

· Age: Since 2019, levels of financial awareness declined across all age groups. As a result, seniors aged 65 or over continue to have the largest gaps in awareness about most of the financial rights and responsibilities tested than other age groups. Those between the ages of 25 to 49 are the most aware, similar to 2019.

· Region: Overall awareness has declined across most regions of Canada, compared to 2019, with the exceptions of British Columbia and Saskatchewan. Residents of Atlantic Canada, Manitoba, and Alberta exhibit lower levels of awareness of specified financial rights and responsibilities, while Quebec residents are consistently more aware of these financial rights and responsibilities than those in other regions. Connected to this, those speaking French at home also remain more likely to be aware of the specified financial rights and responsibilities compared to those who speak English or another (non-official) language at home, despite French speakers being less likely than others to say they almost always read the fine print before accepting a financial product/service.

· Limitations: One in five Canadians report a physical or mental condition that reduces what they can do, and as was the case in 2019, one in five of this group (20%) says this limits their ability to deal with their bank. In all, four percent of the population say they have a condition that makes it difficult to deal with their bank.

5. Political Neutrality Statement and Contact Information

I hereby certify as senior officer of Environics that the deliverables fully comply with the Government of Canada political neutrality requirements outlined in the Communications Policy of the Government of Canada, and Procedures for Planning and Contracting Public Opinion Research. Specifically, the deliverables do not include information on electoral voting intentions, political party preferences, standings with the electorate, or ratings of the performance of a political party or its leaders.

Sarah Roberton

Vice President, Corporate & Public Affairs

Environics Research Group

sarah.roberton@environics.ca

613-793-2229

Supplier name: Environics Research Group

PWGSC contract number: 5R000-201617/001/CY

Original contract date: 2021-02-16

For more information, contact info@fcac-acfc.gc.ca

Introduction

1. Background

Among FCAC’s priorities is promoting consumers’ awareness of financial rights and responsibilities. FCAC’s 2020-2021 Business Plan comprises key performance indicators related to rights and responsibilities, including an indicator on the percentage of consumers who are aware of their consumer protection rights and responsibilities.

A survey conducted in March of 2019 provided baseline results for this indicator. This 2021 reiteration allows for comparisons over time and aligns FCAC with the Treasury Board Secretariat’s Policy on Results, which requires annual public reporting of results against key performance indicators. The research in this report also: provides evidence-based identification of potential gaps in consumers’ awareness of their financial rights and responsibilities; supports FCAC in developing sound recommendations, providing guidance to industry, and informing its policy discussion and supervision activities; helps inform the production of consumer educational material and marketing collateral.

2. Research Objectives

The specific objectives of this survey were to:

· gather quantitative evidence of consumers’ awareness of certain financial rights and responsibilities

· identify potential gaps in consumers’ awareness of certain financial risks identified in FCAC’s industry review of bank sales practices

· assess results against the rights and responsibilities indicator established in FCAC’s current business plan

· assess results against the baseline established with the 2019 POR survey on rights and responsibilities

The survey repeated the six questions from the 2019 survey. Questions covered topics such as consumers’ awareness of their rights and responsibilities related to:

· express consent for certain banking products and services

· terms and conditions of banking products and services

· credit card balance protection insurance

3. About this Report

This report begins with an executive summary outlining key findings and conclusions, followed by a detailed analysis of the results. A detailed description of the methodology used to conduct this research is presented in Appendix A. The research instrument is provided in Appendix B.

Note: Percentages presented throughout this report may not sum to 100% due to rounding. Base sizes are only indicated when the question was not asked of the full sample; all others are questions asked of the total sample.

Detailed Findings

I. Overall Findings

Since 2019, the use of credit card protection insurance to cover outstanding balances continues to be the area with the least awareness. In addition, awareness has declined about the requirement to provide consent for credit card protection insurance and for increases to credit card limits. As before, Canadians remain most aware of their right to receive easy-to-understand information about financial products/services and that their consent is needed to be issued a credit card.

Canadian consumers of banking products/services were asked a series of true/false questions to measure awareness of certain rights and responsibilities when dealing with financial institutions. Five statements tested their awareness about these rights and responsibilities, and a sixth question asked whether they read the ‘fine print’ before accepting a financial product or service. The results presented below and throughout the report compare those who gave the correct answer to those who did not (combining those who provided an incorrect answer and who said they do not know).

Since 2019, awareness has declined that you do not have to agree to credit card protection insurance when applying for a card (down 5 points to 64%) and that a bank cannot increase your limit without your approval (down 3 points to 57%). As before, awareness remains lowest that credit card protection insurance does not always cover the outstanding balance on your card (32%, which is not a statistically significant change since 2019).

Awareness remains highest that banks are required to provide easy-to-understand information on the cost of financial products and services they offer (81%) and that a bank cannot issue you a credit card without your prior approval (78%) – at levels unchanged from 2019.

Like 2019, Canadians remain divided about whether they almost always read the ‘fine print’ before accepting a financial product of service (53% true, 44% false).

Summary of overall results – factual statements	Correct (2019)	Correct (2021)	Incorrect (2021)
Banks must provide you with easy-to-understand information on the cost of financial products and services they offer you. (True)	81%	81%	19%
A bank can issue you a credit card without your prior approval. (False)	78%	78%	22%
You do not have to agree to credit card protection insurance when applying for a credit card. (True)	69%	64%	36%
A bank can increase your credit card limit without your prior approval. (False)	60%	57%	43%
Credit card protection insurance will always cover the outstanding balance on your credit card if your claim is approved. (False)	34%	32%	68%

Summary of overall results – fine print statement

True (2019)

True (2021)

False

(2021)

Don’t know (2021)

You almost always read the fine print before accepting a financial product or service.

54%

53%

44%

Q1-6 I would like you to tell me, to the best of your knowledge, whether you think each of the following statements about financial products is true or false – or if you don’t know.

Summary of Overall Awareness

Canadians’ overall awareness of the financial rights and responsibilities tested in the survey has decreased, with about seven in ten who answered three of the five factual questions correctly, a six-point decline from 2019.

Environics calculated an index based on the number of correct responses given to the five factual statements, providing a score for overall awareness of the specified financial rights and responsibilities. Overall, seven in ten Canadians (72%) answered at least three of the five questions correctly, which is down six percentage points from 2019 (78%). One in ten Canadians provided the correct response to all five of the questions (on par with 2019). The average mean score (ranging from zero to five) for Canadians overall is 3.12, down slightly from 2019 (3.22).

Number of correct responses to statements about financial rights and responsibilities	Overall % (2019)	Overall % (2021)
Zero	1%	1%
One	6%	7%
Two	17%	19%
At least three out of five correct (net)	78%	72%
Three	34%	32%
Four	34%	31%
Five	10%	9%
*Overall mean score*	*3.22*	*3.12*

Q1 – Q5 I would like you to tell me, to the best of your knowledge, whether you think each of the following statements about financial products is true or false – or if you don’t know.

II. Demographic Analysis of Financial Awareness

The mean index score – an indication of overall awareness based on the average number of correct answers – has declined across most regions and demographic groups since 2019. As before, the score remains lower among older Canadians aged 65 and up, those with lower education and incomes, and now in 2021, is lower among women than men. A comparison of the 2019 and 2021 index scores reveals that the decline is not limited to any single region or demographic segment, but is generally evident across the board, with a few exceptions.

· Gender. The index score has dropped most notably among women since 2019, resulting in an emerging gap in awareness (3.07 correct responses out of 5) compared to men (3.16) that was not previously evident.

· Age. The index scores declined across all age groups. As a result, the age pattern remains consistent with 2019: index scores are lowest among those aged 65 or older (2.92), followed by those aged 50-64 (3.06) and 18-24 (3.04), and highest among people aged 25-34 (3.34) and 35-49 (3.22).

· Socioeconomic status. Those without a college or university education (average score: 2.99) and those with the lowest household incomes ($40,000 or less – 3.02) still remain less likely to respond correctly. However, compared to 2019, index scores dropped most notably for those with a postsecondary education and those in the middle-income brackets (between $40K and $150K).

Demographic characteristics of correct responses to statements about financial rights and responsibilities		Mean index score (2019)	Mean index score (2021)
Gender	Male	3.20	3.16
Gender	Female	3.25	3.07
Age	18-24	3.14	3.04
	25-34	3.37	3.34
	35-49	3.44	3.22
	50-64	3.20	3.06
	65+	2.97	2.92
Education	High school or less	3.02	2.99
	College/some university	3.31	3.14
	University graduate	3.30	3.21
Income	Less than $40k	3.04	3.02
	$40-80k	3.28	3.15
	$80-$150k	3.36	3.27
	$150k or more	3.30	3.33
*Overall mean score*		*3.22*	*3.12*

Q1 – Q5 I would like you to tell me, to the best of your knowledge, whether you think each of the following statements about financial products is true or false – or if you don’t know.

· Region. While the mean index score decreased in most provinces except British Columbia and Saskatchewan, residents of Manitoba (2.95) and the Atlantic provinces (2.92) provide the fewest correct answers. Those in Quebec (3.39) continue to provide more correct answers on average than other regions of the country. Connected to this, those speaking French at home also remain more likely to provide correct responses (3.41) when compared to those who speak English (3.05) or another language (2.94) at home.

· Community size. The mean index score also decreased across all three community size categories. As in 2019, those living in rural communities remain less likely (3.02) to answer correctly than those in mid-sized (3.13) or large urban (3.19) communities.

Regional characteristics of correct responses to statements about financial rights and responsibilities		Mean index score (2019)	Mean index score (2021)
Region	British Columbia & Territories	3.02	3.06
	Alberta	3.24	3.00
	Saskatchewan	3.09	3.14
	Manitoba	3.21	2.95
	Ontario	3.20	3.05
	Quebec	3.42	3.39
	Atlantic	3.06	2.92
Language spoken at home	English	3.17	3.05
	French	3.46	3.41
	Other	3.13	2.94
Community size	Rural	3.18	3.02
	Mid-sized	3.25	3.13
	Large urban	3.27	3.19
*Overall mean score*		3.22	3.12

Q1 – Q5 I would like you to tell me, to the best of your knowledge, whether you think each of the following statements about financial products is true or false – or if you don’t know.

Outside of the demographic trends described above, other notable observations include:

· awareness specifically of banks’ responsibility to provide individuals with easy-to-understand information is higher among women (83% vs. 79% of men); thus, the higher index score among men is driven by their stronger awareness of the other statements. Awareness of this requirement is lower among the youngest age group (75% aged 18-24); as in 2019, it does not vary by income or education

· the index score of those who read fine print before accepting a financial service or product (3.14) is not significantly higher than those who do not (3.15)

Likelihood to say they do not read the fine print about a financial product/service before accepting it is higher among:

· residents of Quebec (54%) and those who speak French most often at home (53%).

· men (47% vs. 41% of women)

· those in higher income groups (53% of those earning $80,000 or more, compared to 37% of those whose income is $40,000 or less) and those working full-time (49%)

III. Limitations and Access to Banking Services

As in 2019, one in five Canadians report having a physical/mental condition or health problem that reduces what they can do, among whom 20 percent say that condition makes it difficult to deal with their bank.

One in five Canadians report a physical or mental condition/health problem that reduces the amount or kind of activity they can do (10% often and 12% sometimes), which is essentially unchanged from 2019. As in 2019, the most commonly mentioned conditions include mobility limitations (reported by one-third of all people with a condition), emotional or mental health issues (17%), chronic pain (10%) and joint/back pain or arthritis (9%).

Among those reporting a condition, one in five say it causes difficulties for them when dealing with their bank either often (5%) or sometimes (15%), also stable compared to 2019. When this result is expressed as a proportion of the total population, four percent of Canadians report a condition that makes it difficult to deal with their bank at least sometimes.

Physical/mental condition makes it difficult to deal with a bank	% among those with a condition/health problem in 2019 (n=659)	% among those with a condition/health problem in 2021 (n=682)
Yes (Net)	22%	20%
Yes, often	7%	5%
Yes, sometimes	15%	15%
No	77%	77%
Don’t know/no answer	1%	3%

D1. Does a physical or mental condition or health problem reduce the amount or the kind of activity you can do?

D3 [If yes] Does that condition make it difficult to deal with your bank?

Appendix A: Methodology

Environics conducted a telephone survey with 3,008 adult residents of Canada from March 4 to 25, 2021. The survey used a random probability sample, using industry-standard random-digit-dialling (RDD) techniques. A survey of this size will yield national results which can be considered accurate to within +/- 1.8 percentage points, 19 times out of 20. Margins of error vary based on a variety of factors: they are larger for subgroups of the population and for questions where 50 percent of respondents answered one way and 50 percent answered another way. The margin of error typically decreases as the percent for a particular response approaches 0% or 100%. Respondents were informed about privacy and anonymity.

Sample Design and Weighting

This survey targeted the general Canadian population, aged 18 and over, who have a product or service with a bank or credit union. It included an industry-standard “most recent birthday” selection technique to identify a respondent. Cellphone sampling was included, and the final sample is a mix of landline telephone sample (44%) and cellphone sample (56%), which generated 30 percent of interviews with Canadians who use their cellphone exclusively.

The sample was stratified by region to allow for meaningful coverage of lower population areas and the final data are weighted to 2016 Census information for region, age, and gender:

Weighted and unweighted sample comparison	Actual share of population (Census 2016)	Unweighted Sample	Weighted proportion
Atlantic Canada	7%	255	7%
Quebec	23%	700	23%
Ontario	38%	950	38%
Prairies	18%	642	18%
B.C. /Yukon	13%	451	13%
Female	51%	1,525	51%
Male	49%	1,473	49%
Other gender/no answer	n/a	10	<1%
18-34	27%	467	27%
35-49	25%	627	25%
50-64	27%	816	27%
65+	21%	1,098	21%
Total sample	100%	3,008	100%

Questionnaire Design

The questionnaire used the identical questions to the 2019 survey designed by Environics and FCAC representatives. The English version of the final study questionnaire is included in Appendix B. The average survey length was 5 and a half minutes and was conducted in the respondent’s official language of choice.

Pre-test and Fieldwork

Although the questionnaire was identical to 2019, a pre-test of 20 interviews (10 in English, 10 in French) was nonetheless conducted on March 2-3 and audited via recordings by Environics staff. These interviews included standard GC pre-test probing questions. As expected, the pre-test did not reveal any issues and the pre-test interviews were kept in the final sample.

Interviewing was conducted by Elemental Data Collection (EDCI) using Computer Aided Telephone Interviewing (CATI) technology. Field supervisors were always present to ensure accurate interviewing and recording of responses. A minimum of 10 percent of each interviewer’s work was unobtrusively monitored for quality control in accordance with accepted industry standards.

Data analysts programmed the questionnaire in CATI then performed thorough testing to ensure accuracy in set-up and data collection. This validation ensured that the data entry process conformed to the survey's basic logic. The CATI system handles sampling dialling, quotas and questionnaire completion (skip patterns, branching and valid ranges). The system also ensures that callbacks are conducted in a timely manner. No number is called twice in a two-hour period. Callbacks are conducted on different days of the week and at different times of the day (i.e., morning, afternoon). This system ensures all scheduled appointments are kept, maximizing the response rate and sample representativeness. Up to eight callbacks were made to reach each person selected in the sample.

All research work was conducted in accordance with the standards established for federal government Public Opinion Research (POR), as well as applicable federal legislation (Personal Information Protection and Electronic Documents Act, or PIPEDA).

Respondent Profile

The following table presents the weighted distribution of survey participants by key demographic and other variables.

Respondent profile	Total sample %
Age
18-34	27%
35-49	25%
50-64	27%
65+	21%
Gender
Female	51%
Male	49%
Education
High school or less	28%
Apprentice/college/some university	36%
University graduate/post-graduate	35%
Employment status
Full time/self employed	51%
Part time	7%
Not employed (student, unemployed, homemaker etc.)	15%
Retired	24%
Total annual household income
Under $20,000	6%
$20,000-<$40,000	11%
$40,000-<$60,000	13%
$60,000-<$80,000	12%
$80,000-<$100,000	11%
$100,000-<$150,000	14%
$150,000 or more	12%
Prefer not to say	20%
Community size (self-reported)
Rural (<30K)	31%
Medium sized (30K-<500k)	34%
Large urban centre (>500K)	33%
Language spoke most at home (multiple answers possible)
English	72%
French	22%
Other	9%

Completion Results

The sample for this survey consisted of 3,008 interviews with adult Canadians. The effective response rate for the survey is seven percent.[1] This is calculated as the number of responding participants (completed interviews plus those disqualified because of survey requirements and quotas being filled), divided by unresolved numbers (e.g., busy, no answer) plus non-responding households or individuals (e.g., refusals, language barrier, missed callbacks) plus responding participants [R/(U+IS+R)]. The disposition of all contacts is presented in the following table:

Completion Results

Disposition of calls	Total	Landline	Cell
Total Numbers Attempted	119,207	36,713	82,494
Out-of-scope - Invalid	62,269	10,863	52,406
Unresolved (U)	39,219	17,319	21,900
No answer/Answering machine	39,219	17,319	21,900
In-scope - Non-responding (IS)	2,615	1,055	1,560
Refusal	10,033	5,380	4,653
Language barrier	519	262	257
Incapable of completing (ill/deceased)	285	218	67
Callback (Respondent not available)	1,811	575	1,236
Termination	420	184	236
In-scope - Responding units (R)	3,651	1,912	1,739
Completed Interview	3,008	1,601	1,407
Non-qualified - Quota Full	69	26	43
Non-qualified – Age	76	27	49
Non-qualified – Industry	169	68	101
Non-qualified – No bank account	329	190	139
Response Rate (%)	7%	7%	6%
Incidence Rate (%)	84	85	83

Non-response Bias Analysis

The table below presents a profile of the final sample, compared to the actual population of Canada (2016 Census information). As is the case with most surveys, the final sample underrepresents those with high school or less education, which is a typical pattern for public opinion surveys in Canada (e.g., those with more education are more likely to respond to public opinion surveys).

Sample type	Sample*	Canada (2016 Census)
Gender (18+)
Female	51%	51%
Male	49%	49%
Age
18-34	27%	29%
35-49	25%	24%
50-64	27%	26%
65+	21%	21%
Education level^α
High school diploma or less	28%	35%
Trades/college/post sec no degree	36%	36%
University degree	35%	29%

* Data are unweighted and percentaged on those giving a response to each demographic question

^αActual Census categories differ from those used in this survey and have been recalculated to correspond.
Statistics Canada figures for education are for Canadians aged 25 to 64 years.

Appendix B: Quantitative Research Instrument

FCAC Rights & Responsibilities Questionnaire 2021 – English

Hello/Bonjour, my name is _________ and I am calling from Environics on behalf of the Government of Canada. We are conducting a survey of attitudes and opinions of Canadians 18 years of age and over. Please let me assure you that we are not trying to sell anything. Would you prefer that I continue in English or French?

Préférez-vous continuer en français ou en anglais? (IF NEEDED: Je vous remercie. Quelqu'un vous rappellera bientôt pour mener le sondage en français.)

English 1

Français 2

Today, we are conducting a short survey on behalf of the Financial Consumer Agency of Canada, an independent federal Government agency to help measure Canadians’ knowledge of the rights and responsibilities of financial consumers and financial institutions in Canada. It will take approximately 5 minutes to complete.

Your decision to participate is voluntary and all responses will be kept strictly confidential and remain anonymous. The information provided will be administered according to the requirements of the Privacy Act. This call may be monitored or recorded for quality control purposes.

[ASK IF CELLPHONE SAMPLE] CEL1. Have I reached you on your cell phone?

Yes 1

No 2 CHANGE TO LANDLINE SAMPLE

[ASK IF LANDLINE SAMPLE] S1a. May I please speak with the youngest person in your household who is 18 years of age or older? Would that be you? (IF UNAVAILABLE, ask for household member who has had the most recent birthday)

Yes 1

No 2 ASK TO SPEAK TO THAT PERSON/ARRANGE CALLBACK

[ASK IF LANDLINE SAMPLE] S1b. Do you, personally, also have a cell phone?

Yes 1

No 2

[ASK IF CELLPHONE SAMPLE] S2b. Are you in a safe place to talk – for example not operating a motor vehicle?

Yes 1

No 2 ARRANGE CALLBACK DATE/TIME

[ASK IF CELLPHONE SAMPLE] S2a. Can I confirm that you are at least 18 years old?

Yes 1

No 2 THANK & TERMINATE

[ASK IF CELLPHONE SAMPLE] S2C. At home, do you have a traditional telephone line other than a cell phone?

Yes 1

No 2

[ASK IF CELL SAMPLE AND S2C=1 or LANDLINE SAMPLE AND S1B=1] SC3. Which telephone do you consider your primary contact number?

Landline 1

Cell 2

Both Equally 3

DO NOT READ: Don’t know/Not sure/Refused 99

[ASK ALL] AGEYEAR. How old are you?

ENTER EXACT AGE ___

DO NOT READ: Prefer not to answer/Refused

ASK IF AGEYEAR=REFUSED, OTHERWISE ALLOCATE FROM AGEYEAR] AGERANGE. Would you be willing to tell me in which of the following age categories you belong?

READ LIST UNTIL INTERRUPTED

18 to 24 1

25 to 29 2

30 to 34 3

35 to 39 4

40 to 44 5

45 to 49 6

50 to 54 7

55 to 59 8

60 to 64 9

65 to 74 10

75+ 11

DO NOT READ: Refused 99 THANK & TERMINATE

[IF CELL PHONE SAMPLE ASK PROV. IF LANDLINE SAMPLE FILL BASED ON AREA CODE]

PROV. In which province or territory do you live?

DO NOT READ LIST

Newfoundland 1

Prince Edward Island 2

Nova Scotia 3

New Brunswick 4

Quebec 5

Ontario 6

Manitoba 7

Saskatchewan 8

Alberta 9

British Columbia 10

Yukon 11

Northwest Territories 12

Nunavut 13

[ASK ALL] SCR1. Do you or does anyone in your household work for…?

An advertising or market research firm THANK AND TERMINATE

The media THANK AND TERMINATE

A financial services firm or bank THANK AND TERMINATE

None of the above

DO NOT READ: Don’t know/Refused THANK AND TERMINATE

GEND. What is your gender? (IF NECESSARY: Gender refers to current gender which may be different from sex assigned at birth and may be different from what is indicated on legal documents.)

DO NOT READ LIST EXCEPT TO CLARIFY

Man 1

Woman 2

I self-identify as a different gender 97

Prefer not to say 99 [RECORD BY OBSERVATION AND CONTINUE]

SCR2. Do you hold an account or credit card with a bank or credit union?

Yes 1

No 2 THANK AND TERMINATE

DO NOT READ: Don’t know/Refused 9 THANK AND TERMINATE

[ASK ALL] Q1-Q6. I would like you to tell me, to the best of your knowledge, whether you think each of the following statements about financial products is true or false – or if you don’t know. The first/next statement is…

READ STATEMENTS, ENTER SINGLE RESPONSE FOR EACH STATEMENT [RANDOMIZE]

Q1. Credit card protection insurance will always cover the outstanding balance on your credit card if your claim is approved.

Q2. A bank can issue you a credit card without your prior approval.

Q3. A bank can increase your credit card limit without your prior approval.

Q4. You do not have to agree to credit card protection insurance when applying for a credit card.

Q5. Banks must provide you with easy-to-understand information on the cost of financial products and services they offer you.

Q6. You almost always read the fine print before accepting a financial product or service.

[SINGLE RESPONSE PER ATTRIBUTE]

True 1

False 2

DO NOT READ: Don’t know/Not sure/Refused 9

[ASK ALL] D1. Does a physical or mental condition or health problem reduce the amount or the kind of activity you can do?

DO NOT READ LIST. IF YES, PROBE FOR SOMETIMES VS. OFTEN - CODE ONE ONLY

Yes, often 1

Yes, sometimes 2

No 3

Don’t know/NA 99

[ASK IF D1=1 or D1=2] D2. Can you please let me know what the condition is that limits what you can do?

DO NOT READ LIST. CODE ANY THAT APPLY.

Blind/visual impairment 1

Deaf/hard of hearing 2

Mobility/coordination/dexterity/weakness 3

Speech impairment 4

Developmental/intellectual/learning (e.g. dyslexia) 5

Emotional/psychological/mental health 6

Pain that is always present 7

Other specify __________________________ 97

Don’t know/NA 99 SINGLE PUNCH

[ASK IF D1=1 or D1=2] D3. Does that condition make it difficult to deal with your bank?

DO NOT READ LIST. IF YES, PROBE FOR SOMETIMES VS. OFTEN - CODE ONE ONLY

Yes, often 1

Yes, sometimes 2

No 3

DK/NA 99

DEMOGRAPHICS

Finally, I just have a few questions that allow us to group responses and to sort the information we collect. Please be assured, all your responses will be kept completely confidential.

[ASK ALL] EDU. What is the highest level of formal education that you have completed?

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Grade 8 or less

Some high school

High School diploma or equivalent

Registered Apprenticeship or other trades certificate or diploma

College, CEGEP or other non-university certificate or diploma

University certificate or diploma below bachelor's level

Bachelor's degree

Post graduate degree above bachelor's level

DO NOT READ: Prefer not to answer

[ASK ALL] HLANG. What language do you speak most often at home?

READ LIST - ACCEPT ALL THAT APPLY

English

French

Other [SPECIFY]

DO NOT READ: Prefer not to answer

[ASK ALL] EMPLOY. Which of the following categories best describes your current employment status? Are you…?

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Working full-time, that is, 35 or more hours per week

Working part-time, that is, less than 35 hours per week

Self-employed

Unemployed, but looking for work

A student attending school full-time

Retired

Not in the workforce? (e.g. Full-time homemaker, unemployed, not looking for work)

Other – (DO NOT SPECIFY)

DO NOT READ: Prefer not to answer

[ASK ALL] INCOME. Which of the following categories best describes your total household income? That is, the total income of all persons in your household combined, before taxes?

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Under $20,000

$20,000 to just under $40,000

$40,000 to just under $60,000

$60,000 to just under $80,000

$80,000 to just under $100,000

$100,000 to just under $150,000

$150,000 and above

DO NOT READ: Prefer not to answer

[ASK ALL] URBRUR. How big is the community in which you live? Would you say it is:

A rural or small community (with a population below 30,000)

A medium-sized community or city (with a population over 30,000 but under 500,000)

A large urban centre (with a population over 500,000)

DO NOT READ: Prefer not to answer

This survey was conducted on behalf of the Government of Canada and is subject to the Federal Access to Information Act. Thank you very much for your participation!

[1] This response rate calculation is based on a formula accepted by the Government of Canada (Public Works and Government Services).