Canadians’ access to cash in 2023

Heng Chen, Hongyu Xiao, Daneal O’Habib and Stephen Wild

No 2025-13, Staff Analytical Notes from Bank of Canada

Abstract: This study evaluates Canadians' access to cash in 2023, updating previous metrics on travel distances to automated banking machines (ABMs) and financial institution (FI) branches with improved quality checks on ABM locations. Despite a small decrease in the number of ABMs and branches since 2019, overall access to cash has remained unchanged, with Canadians needing to travel an average distance of 2.0 kilometers from their home locations to reach the nearest ABM and 4.6 kilometers to reach the nearest FI branch. Rural Canadians continue to travel farther to access to cash, with an average travel distance of 3.9 km to the nearest ABM and 9.7 km to the nearest branch, highlighting the need for continued monitoring in rural areas.

Keywords: Financial services; Regional economic developments; Bank notes (search for similar items in EconPapers)
JEL-codes: J15 O1 R51 (search for similar items in EconPapers)
Date: 2025-03
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