unbanked Definition
not having an account at a bank or similar financial institution.
Using unbanked: Examples
Take a moment to familiarize yourself with how "unbanked" can be used in various situations through the following examples!
Example
Many people in developing countries are unbanked.
Example
The unbanked population in the United States is estimated to be around 8 million.
Example
Without access to traditional banking services, the unbanked often rely on alternative financial services like payday loans and check cashing services.
unbanked Synonyms and Antonyms
Synonyms for unbanked
- underbanked
- without banking access
- financially excluded
Antonyms for unbanked
- banked
- financially included
Summary: unbanked in Brief
'Unbanked' [ˌʌnˈbæŋkt] refers to individuals who do not have an account at a bank or similar financial institution. This term is often used to describe people in developing countries or those who lack access to traditional banking services. The unbanked population in the United States is estimated to be around 8 million. Without access to traditional banking services, the unbanked often rely on alternative financial services like payday loans and check cashing services.
