Make it easier to change banks

Let people safely share their own bank data with a service they choose. Make it easier to switch.

Our planUpdated:

Our argument

Your bank data should work for you. With your clear consent, you should be able to use it to seek a better deal. A switch should not mean handing a new firm your bank password.

What must change

Let people safely share their own bank data with a service they choose. Make it easier to switch.

What a win looks like

A safe, simple way to move, with clear consent and a way to stop sharing.

Public cost

We have not yet priced this ask for the public purse. Any public aid must be priced before we seek funds for it.

The evidence

B-E02

Canada’s Competition Bureau began a study of small-business loans on 12 January 2026.

Limits: The study looks in part at term loans. These are loans paid back over a set time. Starting a study is not proof of wrongdoing. This record states when the study began. It does not say what stage it is at now.

B-E05

The Bank of Canada describes a plan for people to share their own bank data.

Limits: The page includes proposed rules. It does not prove the full service is live. Sharing data does not by itself move an account or all its payments.

Studies and notes

No case study is published here yet. This is the next question to check.

What we need to check

Check the rules in force, safe data access and the steps needed to switch. Count failed switches and fees.

Updates

— Case opened with our argument, our ask and the facts still to check.

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