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In Canada, banks like BMO (Bank of Montreal) and CIBC (Canadian Bank of Commerce) often appear at the lower end of consumer satisfaction rankings for big banks, particularly in digital experience and fees, while HSBC Canada Hong Kong and Shanghai Banking Corporation and TD Toronto Dominion Bank has also faced criticism, though newer online banks (like Tangerine) generally lead satisfaction studies. Consumer ratings vary by study, but BMO frequently ranks LAST among Big Five for mobile, and CIBC struggles in rates/fees, with reports of high complaints for BMO and low scores for HSBC in some segments. 

Key Findings from Recent Reports (2023-2025):

• BMO Bank of Montreal - Often cited as the worst among the big banks for mobile banking experience and has faced increased complaints, as noted in 2024 reports.

• CIBC Canadian Imperial Bank of Commerce: Ranked low for rates and fees in some 2025 analyses, taking the bottom spot for big banks in one review.

• HSBC Canada Identified as the worst among non-Big Banks in a 2023 review and scored low in mid-sized segments in other studies.
• BNS Scotiabank Also tends to trail other large banks in customer satisfaction surveys, according to some reports. 

• TD Toronto Dominium Bank - U.S. regulators uncovered serious shortcomings in TD’s anti‑money‑laundering (AML) compliance programs, including failures in transaction monitoring and risk controls. As a result:

• TD agreed to a $3+ Billion Settlement and a regulatory asset cap on certain U.S. operations.
   
• The bank suspended its earnings forecast and posted a rare quarterly loss tied to remediation efforts.
  

Context on Ratings:

• Big Banks vs. Mid-Sized/Neo Banks: Large banks generally score lower than mid-sized or online-only (neo) banks like Tangerine, Sympli, or Motive Financial, which often lead satisfaction rankings.

• Varying Focus: Some reports focus on fees, others on digital experience (mobile apps, online banking), and some on overall service, so rankings shift depending on the criteria. 

In summary, while specific positions change yearly, BMO and CIBC are consistently among the lower-rated big banks, with HSBC also facing negative feedback in non-big bank categories.  

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