The percentage of Canadians who bank primarily through the Internet has doubled in the past two years, according to a new poll by the Canadian Bankers Association.

In the survey, conducted nationwide by The Strategic Counsel, 16% of respondents say the Internet is the primary means through which they conduct the majority of their financial transactions, compared with 8% in a similar CBA poll two years ago.

The new survey also shows approximately one-third of respondents now do at least some of their banking online and 56% expect to be banking over the Internet within the next two to three years, compared with 46% in 2000. Some 40% of Canadians now bank primarily through ABMs, while 8% bank mainly by phone and 30% bank mainly in person.

“What these figures tell us is that Canadians have an ever-increasing appetite for new technology, and they are embracing the range of choices banks are providing to them, including in-person service,” said Raymond Protti, president and CEO of the CBA in a news release. “In our view, what makes Canadian banking so successful as an e-commerce enterprise is a combination of substantial investments in new technology and the steady growth of a system which offers people choice and convenience in how, when and where they handle their financial affairs.”

Last year, Canada’s six largest banks alone spent $3.7 billion on technology — just over double the $1.8 billion in annual spending five years ago and a cumulative total of close to $17 billion over the past five years. The survey also indicates a large majority of Canadians (88%) expect banks to continue to be technology innovators and to introduce or expand technologies that will improve the banking experience for their customers.