underbanked

American  

[uhn-der-bangkt] / ˌʌn dərˈbæŋkt /

adjective

1. not having adequate access to banks or similar financial institutions.

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noun

1. the underbanked, people who do not have adequate access to banks.

Other Word Forms

• underbanking noun

Example Sentences

There is strong growth in payments activity and consumer lending, they write, pointing to potential for further expansion from Indonesia’s large underbanked population and a low lending penetration rate among users.

From The Wall Street Journal • Mar. 13, 2026

JPMorgan Chase Chief Executive Jamie Dimon, for example, told the committee that his bank had introduced “low-cost, no-minimum balance, no-overdraft accounts specifically designed for the unique needs of lower-income and historically underbanked consumers.”

From Los Angeles Times • Dec. 7, 2023

Applied to King County, that translates to 67,000 residents without a bank account and 380,000 who are underbanked.

From Seattle Times • Jun. 7, 2023

Still, analysts say that focusing on unbanked or underbanked Mexicans could cause Walmex trouble if it does opt to expand Cashi into a lending product.

From Reuters • May 9, 2023

It also misstated which federal agency found that more than 1 in 5 Black and Hispanic adults are unbanked or underbanked.

From Washington Post • Oct. 4, 2021