unbanked

¹ American  

[uhn-bangkt] / ʌnˈbæŋkt /

adjective

1. not using or having access to a bank or similar financial institution.

2. (of funds) not deposited with a bank.

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noun

1. the unbanked, people who do not use or do not have access to banks.

unbanked ² American  

[uhn-bangkt] / ʌnˈbæŋkt /

adjective

1. (of a fire) not surrounded and covered with heaped ashes to restrict airflow and slow burning.

2. (of a curve in a road, racetrack, or the like) not sloped up toward the outside of the curve.

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Other Word Forms

• unbankable adjective
• unbanking noun

Example Sentences

According to a recent survey by the FDIC, data from 2023 reveals over 5.6 million unbanked households in the U.S.

From Salon

The survey shows that people who are disabled, lower-income, less educated, Black, Hispanic and living in single-parent households are more likely to be unbanked.

From Salon

Most single-parent households are run by women, and those households had an unbanked rate of 13.4% versus 7.8% of single-father households, the survey said.

From Salon

If you're unbanked, the first thing to do is acknowledge that it's a change you want to make.

From Salon

“For the unbanked, being able to get a prepaid card with the tax refund on it may be worth the expense, especially when waiting for a check to cash that may take many weeks or months to arrive, and then still often facing fees to cash the check,” Stranger said.

From Salon