If we compare the situation in Canada to that of the United States, we can see that the American system is very different, but that there are also some similarities. The difference should favour Canadians. Our banking system is relatively well spread out from coast to coast. Financial institutions have branches all across the country. There are few financial institutions in Canada, six essentially. In the United States, there are 12,000. There, when a cheque is drawn on a financial institution in the same municipality, the consumer generally has access to all of his money within two business days. Here, we will also have access to an initial $100 amount within two business days.
Yes, this is progress, but given the structure of Canada's financial market, consumers should have access to all of their funds, or at the very least, to an initial amount of $1,500.