Canadian Banks with the Best Feeds
Given the issues with Canadian banks working with third-party data aggregators like Yodlee and Plaid, as explained in this blog post: Canada: Sorry, The Connection Just Isn't There Anymore.
We've compiled the below statistics to give some perspective on which banks might provide a better experience for their customers with PocketSmith.
- Only banks with more than ten active feeds are included.
- The absence of a number means there are no feeds for that bank with that provider.
- Banks are sorted in descending order based on the number of active feeds.
- "Auth Failed" means that authorisation was unsuccessful for some reason. This could be because a two-factor authentication prompt was not entered in time, or it was never sent by the bank, or authorisation failed because the bank threw an error.
- These stats do not cover additional issues that may occur following a "successful" sync, such as delayed, missing or duplicate transactions.
- Data is current as at February 21, 2023.
We keenly await open banking legislation in Canada to force the banks to work in a more open, customer-centric way. For the moment, we can only recommend that people look at moving their business to banks that provide more reliable connections, through working with third-party aggregation services like Yodlee and Plaid.
Provider Name | Yodlee Success | Plaid Success | Yodlee Error | Plaid Error | Yodlee Auth Failed | Plaid Auth Failed |
RBC Royal Bank | 58% | 65% | 11% | 1% | 32% | 34% |
TD Canada Trust | 51% | 92% | 8% | 1% | 42% | 7% |
Scotiabank | 57% | 69% | 5% | 0% | 37% | 31% |
CIBC | 38% | 30% | 8% | 0% | 54% | 70% |
BMO Bank of Montreal | 72% | 85% | 7% | 0% | 21% | 15% |
Tangerine | 61% | 2% | 37% | |||
American Express | 77% | 91% | 1% | 0% | 22% | 9% |
Questrade | 29% | 16% | 56% | |||
Canadian Tire FS | 86% | 7% | 7% | |||
Desjardins | 31% | 0% | 11% | 0% | 58% | 100% |
Wealthsimple (WASI) | 3% | 24% | 73% | |||
MBNA | 9% | 27% | 64% | |||
Simplii Financial | 43% | 17% | 40% | |||
Capital One | 0% | 12% | 88% | |||
Rogers bank | 55% | 0% | 45% | |||
Vancity | 68% | 5% | 27% | |||
EQ Bank | 36% | 12% | 52% | |||
National Bank of Canada | 44% | 100% | 0% | 0% | 56% | 0% |
Sun Life | 54% | 4% | 42% | |||
ATB Online - Personal | 36% | 100% | 14% | 0% | 50% | 0% |
President's Choice Financial | 0% | 78% | 0% | 0% | 100% | 22% |