Canada’s banking and credit card apps are in solid shape overall, but the AI chatbots built into them still hit a wall when it comes down to solving real problems. That’s the gist of a fresh round of annual JD Power studies out this week, which measured how happy Canadians are with their banks’ mobile apps and websites.
In a nutshell the core app experience is good, as logins are fast, the designs are relatively modern, and navigation is easy. Where it breaks down is when you actually need help with something harder, like disputing a charge or reporting fraud. That’s exactly where the AI virtual assistants tend to leave people stranded in self-service loops.
“AI-powered virtual assistants are becoming a more prominent feature across banking apps in Canada, and customers are clearly open to using them for everyday financial questions and simple transactions,” said Jennifer White, managing director of financial services intelligence at JD Power, in a statement to iPhone in Canada this week.
“But the data also shows a hard ceiling: when situations become complex, especially around fraud or urgent account issues, these systems still struggle to deliver effective resolution. The next phase in the evolution of this technology isn’t about adding more automation but rather designing better handoffs to human support before customers get stuck in frustrating self-service loops.”
When people felt the virtual assistant was useful, their overall satisfaction landed a full 160 points higher than the industry average (out of their 1,000-point scale). But that satisfaction dropped the moment users tried to fix a real problem, dispute a charge, or flag fraud. And the people leaning on these assistants skew younger and more tech-forward, with usage concentrated among Gen Z (19%) and Millennials (13%).
JD Power also ranked the best banking apps on mobile and the best credit cards on mobile too. Check out the winners below:
Best banking apps (mobile)
The study average was 678, so TD edged out the win. Scotiabank (666) and BMO (664) landed below the average.
Best credit card apps (mobile)
Tangerine ranked 63 points above the 674 average. Rounding out the field: BMO (672), PC Financial (669), National Bank of Canada (668), Desjardins (667), Capital One (657), and CIBC (653) in last.
CIBC took top spot for online banking for the second year in a row at 680, ahead of RBC (673) and BMO (672). For online credit card sites, National Bank of Canada led at 699, followed by American Express (693) and Desjardins (683).
The studies are based on responses from 10,167 retail bank and credit card customers, collected between January and March 2026.
What’s your favourite banking app right now in Canada? Do you agree with the results from JD Power?
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Wealthsimple! Apart from the obvious investments management, the app is fantastic for managing, viewing, and analyzing (spending habits) for credit card, chequing, and any other type of account you have with them. I used TD for decades, and then Tangerine for several years before moving to Wealthsimple. Hands down I prefer Wealthsimple.
Well, theyre not a bank so they’re not included here.
Tangerine is not a bank either, no?
Canadian Tire isn’t a bank but they got a mention.. riddle me that.
I agree! Plus, I like the home and multiple prizes every week of 25,000, 50,000, 100,000 and 1,000,000 each month.
I second Wealthsimple. As a forced victim who got shuffled to RBC after being an HSBC customer for 25 years, I loathed the moment I was put in the cage with the assholes at RY again. I used to be a RY customer since I was 14 but dumped them unceremonially in 2013 after a bungled identify fraud; anyways I will say their systems have improved but only marginally.
I also bank with BMO. Not too impressed but better than RBC. Thataybbe because I have a private wealth banker there that takes care of me.
But the best by far has been wealthsimple. After being pissed off with RY for a few months about service fees and mediocre service I took the plunge to WS. My God, what a difference! Unbelievable. About a month in, RBC pissed me off again, so I retaliated and moved another company’s funds out to WS. WS is all online, RBC wants me to go to a branch, give a blood and saliva sample and sign documents and FAX them in? WTF…is it 1990? I said no thanks, went to WS and had it done in literally minutes. No fuss, a couple of online forms, and…. DONE.
As I said toy RBC client manager, once people catch about WS and that the big 6 are all shit, the big banks are screwed. Mind you, the banks under the premise of the Stockholm syndrome to their clients and maybe enough of them are zombies to just play along.
Full disclosure – shareholder in BMO/TD but dumped RY after they showed their colors. Still have holdings in RY, BMO, WS and EQB.
I switched to Wealthsimple completely. Have used TD and CIBC in the past as primary bank. Just waiting for Wealthsimple to up their game in credit cards.
I don’t normally write comments and this article is hilarious. I bank with CIBC and can say hands down it is one of the worst apps out there once get through the barrage of advertising once you open it. I have banked at one time or another with all these major banks. Wealthsimple is by far the best User interface for an app. There customer service is the best I have ever experienced.
RBC? Are you joking? It’s not even native application. It’s a hybrid app. Worst user experience ever.
CIBC app sucks compared to Wealthsimple, I haveent tried TD in almost 20 years and RBC even longer, BMO I have a business debit and CC and am canceling both
Seems inaccurate as this study is missing multiple other Canadian banks and credit card apps like EQ Bank and WealthSimple
I have a Wealthsimple credit card. I just discovered that the only way to pay my credit card bill is from my Wealthsimple account. It’s not possible to make a payment from any other institution. In my opinion this is a significant constraint of the Wealthsimple credit card. I am in the process of cancelling my Wealthsimple credit card.