Canada’s CEOs and business leaders support the use of user fees as part of Canada’s cash withdrawal system. Business leaders support the use of ATM fees by a factor of 5:3.

COMPAS surveyed its business panel on the ATM system in Canada and the Government’s role in regulating it following a House of Commons Motion by the NDP to review the user-pay system and news about forthcoming meetings between Finance Minister Flaherty and bank presidents on the subject.

On balance, business leaders oppose Government’s regulating ATM fees because of the choice available to consumers. The fact that consumers can avoid withdrawal fees by using ATMs operated by their own bank is seen as a better remedy than Government regulation. Further, business leaders see the fees levied by independent or white label ATMs as a greater concern than those levied by the Big 5 machines.

These are the principal findings from the weekly business web-survey conducted by COMPAS for the Financial Post under sponsorship of BDO Dunwoody LLP.

View / Download complete poll in PDF