Definition of unbanked in US English:

unbanked

adjective

  • Not served by a bank or similar financial institution.

    ‘we know from our own research that there are still 250,000 people in the country who are unbanked’
    • ‘It is the poor and the carless "unbanked" elderly who suffer.’
    • ‘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.’
    • ‘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.’
    • ‘Payday lenders provide a means for the unbanked to join the financial mainstream.’
    • ‘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.’
    • ‘These branches will afford the unbanked population with affordable minimum bank balance accounts that currently are unobtainable from most commercial banks.’
    • ‘In Kenya 80% of people are unbanked.’
    • ‘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.’
    • ‘If the government steps aside, a free market will continue to reach out and draw the unbanked into the financial mainstream.’
    • ‘The unbanked often end up paying usurious fees at check-cashing establishments.’
    • ‘A mere 11 percent of the unbanked spent more than $100 a year to cash checks.’
    • ‘The unbanked tend to be poor.’
    • ‘One fund actively invests in developmental and promotional activities in unbanked areas.’
    • ‘He says that Kenya's unbanked population remains large.’
    • ‘There are almost 10 million unbanked U.S. households, according to Department of Treasury figures.’
    • ‘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.’
    • ‘Eight out of 10 unbanked families earn less than $25,000 a year.’

Pronunciation

unbanked

/ˌənˈbaNGkt//ˌənˈbæŋkt/