Unbanked

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Dictionary Says

Definition of 'Unbanked'

A slang term for people who do not use banks or banking institutions in any capacity. Unbanked persons generally pay for things in cash or else purchase money orders. Unbanked persons also typically do not have insurance, pensions or any other type of professional money-related services.

Investopedia Says

Investopedia explains 'Unbanked'

People can choose to be unbanked for many reasons. Criminals avoid using financial institutions because law enforcement officials can track their actions in their accounts. Older people who survived the Great Depression may have a deep distrust of all financial institutions and therefore do not use them. Extremely poor individuals may also have no need for the banking system as they try to survive their day-to-day lives.
Search results for

'Unbanked'

  • Banking Without The Banks: Will You Save? - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0910/Banking-Without-The-Banks-Will-You-Save.aspx
    ... It is a good market to target. The 2009 FDIC Survey of Unbanked or Underbanked
    Households indicates 30 million fall into this category in the US. ...

  • Banking Without The Banks

    http://stocks.investopedia.com/stock-analysis/2010/Banking-Without-The-Banks-V-MA-WMT-TGT-SWY-M-WU-COST0920.aspx
    ... It is a good market to target. The 2009 FDIC Survey of Unbanked or Under-banked
    American households indicates 30 million fall into this category. ...

  • Are You And Your Bank All A-Twitter? - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/1009/Are-You-And-Your-Bank-All-A-Twitter.aspx
    ... and increased congressional pressure, lenders are turning to new forms of communication
    to retain their customers and attract younger "unbanked" folks who are ...

  • Emerging Markets Calling

    http://stocks.investopedia.com/stock-analysis/2011/Emerging-Markets-Calling-KONG-LTON-MICC-PAY-NOK0209.aspx
    ... Asia. Mobile Banking (m-banking) has been lauded as the much needed tool
    for helping the largely unbanked population in Africa. ...

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