Definition of unbanked in English:

unbanked

adjective

  • Not having access to the services of a bank or similar financial organization.

    ‘we know from our own research that there are still 250,000 people in the country who are unbanked’
    ‘the unbanked miss out on the convenience, security, and wealth-building opportunities that financial institutions offer’
    • ‘The initiative has led to the promotion of Easy Cash, its basic bank account to the previously unbanked which has helped them gain the first foot on the ladder to sound financial planning.’
    • ‘In Kenya 80% of people are unbanked.’
    • ‘Eight out of 10 unbanked families earn less than $25,000 a year.’
    • ‘It is the poor and the carless "unbanked" elderly who suffer.’
    • ‘A mere 11 percent of the unbanked spent more than $100 a year to cash checks.’
    • ‘The FDIC program demonstrates that unbanked Latin American immigrants can be brought into the financial mainstream.’
    • ‘For most of the unbanked, check-cashing services, supermarkets, and other outlets fill in the blanks.’
    • ‘He says that Kenya's unbanked population remains large.’
    • ‘One fund actively invests in developmental and promotional activities in unbanked areas.’
    • ‘Although I am not among the "unbanked," I can identify with them, since sometimes I am close enough to living paycheck-to-paycheck that I need money fast and can't wait for a check to clear at my bank.’
    • ‘If the government steps aside, a free market will continue to reach out and draw the unbanked into the financial mainstream.’
    • ‘Payday lenders provide a means for the unbanked to join the financial mainstream.’
    • ‘The unbanked often end up paying usurious fees at check-cashing establishments.’
    • ‘These branches will afford the unbanked population with affordable minimum bank balance accounts that currently are unobtainable from most commercial banks.’
    • ‘The unbanked tend to be poor.’
    • ‘Bank of Scotland is currently celebrating the first birthday of moves to extend banking to the unbanked in a poor area of Edinburgh through linking with Wester Hailes Representative Council.’
    • ‘To her surprise, Dunham found that two out of three unbanked individuals paid nothing to get cash.’
    • ‘We want to see banks starting to lend to the unbanked population.’
    • ‘There are almost 10 million unbanked U.S. households, according to Department of Treasury figures.’

Pronunciation

unbanked

/ʌnˈbaŋkt/