Canadians Prefer Online Financial Services
J.D. Power and Associates is a global marketing information services firm that conducts surveys of buyer behavior, product quality, and customer satisfaction for industries ranging from banks to advertising and marketing firms. According to its 2016 Canadian Retail Banking Satisfaction Study, Tangerine, a Canadian Financial company that operates mostly online with less fees and no minimum account balance, scored highest in 7 categories that included self – service, product, facilities, personal services, financial advisor, communication, and problem resolution, with a total score of 840 points, in the midsize bank category. Even the top bank in the Big Five category, the Royal Bank of Canada, scored only 765 points. Tangerine offers its various online financial services, including transferring funds, paying bills, checking account balances, and depositing cheques by just taking a picture.
According to another survey conducted in the Canadian banking sector by Accenture Consulting, almost half (46%) of the participants (bank customers) said that they prefer banking online to banking at bank branches. 82% said that they will not switch banks even if their local branch is closed. Also, the consumers ranked online banking services over low fees and branch locations as their number one reason for staying with a bank. 37% of the Canadian believe that over the next 5 years, online is the most important channel for banks to invest in.
Benefits of Online Financial Services
There are a number of benefits that online services provide. Following are a few of them.
- Comfort – You do not have to visit the bank in person to avail the banking services, you can just sit in the comfort of your home, and conduct various online banking services. All you need is a computer and an Internet connection.
- Secure – All the bank sites are usually secure. As long as you take some necessary precautions from your side, such as checking for a valid security certificate, and keeping your computer secure with the help of anti – virus software, all your transactions will be safe and secure.
- 24/7 access – You can access your account and conduct transactions online anytime. You can do it in the middle of the night; you can do it on holidays as well.
- Access from anywhere – No matter where you are in the world, you will be able to access your account and perform transactions online. Also, during a work day, if there is an important transaction to be made, you do not have to take a leave, you can do it online.
- Faster – When you go to a bank branch, you may encounter long queues, which will eat up your time. In the case of online banking, you do not have to worry about any delay.
Benefits of Online Loans
Online loans are readily available, and you can eliminate many of the hassles that come with applying for a loan in the traditional way of going to the bank in person and applying for one.
- Convenience – All you have to do is fill out an online form while applying for a loan online. You can submit all the documents online as well. The bank will process it, and if you are eligible, it will be approved quickly. Since all the dealings occur online, you can avoid multiple trips to your bank.
- Ideal for emergency situations – No matter how prepared you are there may be times when you would require some quick cash. You can apply for a short-term loan or an online payday loan, and get the cash in your account quickly.
- Lower interest rates – In the most of the states, the interest rates, and the loan amount is restricted for the payday lenders. The regulation is in place to protect the consumers. Reputable lenders will provide all the important information to the customers before processing the loan.
- Increased chance of approval – Banks nowadays are considerably picky when it comes to lending. However, in the case of online loans, they are not that picky. If you have the right credit scores, they will approve your loan.
- Round – the – clock services – If you want some quick cash in the middle of the night, you can apply for a short-term loan or an online payday loan online, and the money will be credited to your account instantly.
Cashco Financial Advantage
Cashco Financial lends money to Canadians all over the country. The loans offered include payday loans, pawn loans, settlement loans, auto loans, flex loans, and much more. You can apply for a loan online anytime. The application process is very transparent. There are no hidden charges, all the information regarding interest rates and other fees will be given yo you upfront.
- Payday Loans – You can apply for a payday loan for up to $1500, all you need is an ID, chequing account, and source of income. The approval of the loan can take a few minutes.
- Flex Loans – You can consolidate your debts into one payment with Cashco’s Flex Loans. You can borrow up to $5, 000 for 3 years. The loans will be approved in minutes.
Cashco specializes in bad credit car loans; there are a number of options available for you for all kinds of credit situations. Also, alternative loans are also available from Cashco for any credit situation.
The online financial service provided by Cashco Financial is just as efficient, safe, and simple as that offered by Tangerine. All the information that you provide Cashco will be held in the strictest confidence. Cashco strictly adheres to the privacy standards required of all major Canadian financial institutions.