Formal & Mobile Money Savings Statistics in Canada (2026)
In 2021, 63.9% of adults in Canada saved at a formal financial institution or using a mobile money account, according to World Bank Global Findex data. Down from 67.6% in 2017 to 63.9% in 2021 (−3.7 percentage points). Canada ranks #2 of 2 economies in North America on this measure, and #12 of 142 globally.
Key Statistics
- Latest value (2021)
- 63.9% (2021)
- Formal & Mobile Money Savings in Canada as of 2021, the most recent observation in World Bank Global Findex data.
- Change since 2017
- −3.7 pp (2021)
- Down from 67.6% in 2017 to 63.9% in 2021 (−3.7 percentage points).
- Earliest value in this dataset (2011)
- 53.2% (2011)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Up from 53.2% in 2011 to 63.9% in 2021.
- Peak value (2017)
- 67.6% (2017)
- Highest value in the available series; the 2021 value is 63.9%.
- Rank in North America
- #2 of 2 (2021)
- Canada ranks 2 of 2 countries in North America with data, based on each country's latest value.
- Global rank
- #12 of 142 (2021)
- Canada ranks 12 of 142 countries with data globally.
- North America average
- 64.4% (2021)
- Canada (63.9%) is below the average of 64.4% across the 2 countries in North America with data.
- Saved at a bank or similar financial institution (% age 15+) (2021)
- 63.9% (2021)
- Related indicator from World Bank Global Findex.
- Internet use in Canada (2024)
- 94.4% (2024)
- 94.4% of the population in Canada used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 41.3 million (2024)
- Canada had a population of 41.3 million in 2024 (World Bank); shown for scale only.
Trend, 2011–2021
| Year | % of adults (age 15+) | Change |
|---|---|---|
| 2021 | 63.9% | −3.7 pp |
| 2017 | 67.6% | +5.0 pp |
| 2014 | 62.6% | +9.4 pp |
| 2011 | 53.2% | — |
Frequently asked questions
What share of adults in Canada saved at a formal financial institution or using a mobile money account?
63.9% of adults in Canada saved at a formal financial institution or using a mobile money account in 2021, according to World Bank Global Findex data.
How does Canada compare with other countries in North America?
Canada ranks 2 of 2 countries in North America with data, with 63.9% versus a regional average of 64.4% (latest values per country).
Where does Canada rank globally on formal & mobile money savings?
Canada ranks 12 of 142 countries with data globally, based on the latest World Bank Global Findex value for each country.
When did formal & mobile money savings in Canada peak?
The highest value in the available series was 67.6% in 2017; the latest (2021) value is 63.9%.
How recent is the formal & mobile money savings data for Canada?
The most recent observation is from 2021. World Bank Global Findex data is reported with a lag, so 2021 is the latest available year for Canada.
Source & methodology
Source: World Bank Global Findex, indicator
fin17a.17a1.d, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .