The unbanked are adults who do not have their own bank accounts. Along with the underbanked, they may rely on alternative financial services for their financial needs, where these are available.

Apr 23, 2025 · Unbanked refers to adults who do not use banking services such as savings accounts, checking accounts, or credit cards, often due to financial constraints, distrust of …

UNBANKED HOUSEHOLDS: In 2023, 4.2 percent of U.S. households—representing about 5.6 million households—were unbanked, meaning no one in the household had a checking or …

Jul 23, 2024 · About 6% of American adults are “unbanked,” meaning they don’t have a checking, savings, or money market account. This percentage stayed level in 2022 and 2023, according …

Unbanked describes people who do not use the services of any banking institution, and underbanked describes those who have insufficient access to financial services.

Feb 28, 2025 · Who are the unbanked? The term unbanked refers to those who don't use or have access to a checking or savings account to manage their money.

Jan 31, 2024 · People with limited or no bank accounts are considered unbanked or underbanked. Some may have bank accounts but regularly use alternative financial services such as check …

We propose a new way to classify individuals without a bank account, accounting for their actual interest in being banked.

What does it mean to be unbanked or underbanked? In unbanked households, no one has a checking or savings account at a bank or credit union. In underbanked households, at least …

Dec 5, 2025 · What Does It Mean To Be Unbanked? Being unbanked means that no one in your household has a checking account or savings account at a bank or credit union.