Six-in-10 Canadians kept a closer eye on their monthly expenditures in the past six months, according to the fourth annual RBC Account Habits Poll.

“Canadians are reacting to the economic downturn by looking for ways to minimize expenses and maximize their earnings,” says Ashif Ratanshi, head, branch investments, deposits and direct investing, RBC.

According to the survey, 56% say they have stopped buying non-essential items and 44% are eating out less or bringing their lunch to work in an effort to save more. One-in-six young Canadians (aged 18-34), have taken a part-time job to maximize their cash flow.

Canadians are also looking for better value. According to the survey, 96% of respondents said that quality and better value for money was important (66% very important) to them. While 65% rated lower cost/fees as being very important, 52% wanted a company with a solid reputation. Fifty-nine per cent valued a predictable fee that did not change month to month and 32% thought receiving something above and beyond the product or service was very important.

“People want quality products and services at an affordable price, and to feel they are being rewarded for their business,” says Chris Barber, director, personal banking. “With that in mind, for the first time, RBC is offering our account holders the opportunity to receive RBC Reward points when they open selected bank accounts. We also offer accounts with predictable fees and an opportunity to earn free banking services through our Multi Product Rebate feature.”

If a new or existing client opens or upgrades to the RBC Signature No Limit Banking, RBC VIP Banking or RBC No Limit Banking for Students account from May 1 to August 31, they can earn up to 15,000 RBC Rewards points, depending on the account they open.

These are some of the findings of poll conducted by Ipsos Reid from April 23 to 27. This online survey of 1,024 Canadians was conducted via the Ipsos I-Say Online Panel, Ipsos Reid’s national online panel.

IE