Source: Federal Reserve
Published: May 2018

U.S. Households Unbanked and Underbanked

Circulated: May 13, 2019

Unbanked: do not have a checking,savings, or money market account.

2017 — 5%
2016 — 7%
2015 — 8%

Underbanked: they have a bank account but also used an alternative financial service product (e.g., check cashing service, pawn shop loan, paycheck advance, payday loan).

2017 — 18%
2016 — 19%
2015 — 21%