Notes: This figure shows the share of the unbanked as defined in this paper reporting each of the three reasons mentioned …

This paper conducts a detailed exploration of the factors associated with unbanked status among U.S. households and how these relationships evolved between 2015 and 2019 .

This report presents results from the 2023 FDIC National Survey of Unbanked and Underbanked Households. This nationally representative survey has been conducted biennially since 2009 in …

Another way of narrowing the unbanked definition is to remove all households that use prepaid cards or P2P wallets, leaving only those who rely entirely on cash or other nonbank services (such as money …

To read the full report, Half the World is Unbanked, visit sso.mckinsey.com/unbanked.

In the current study, the “unbanked” was defined as those who had neither a checking nor savings/money market account, and the “underbanked” was defined as those who had either a …

Key features that could attract the unbanked and underbanked to open accounts include no minimum balance requirements and having physical bank locations. Yet even with these features, a majority of …