In 2013, 7.7 percent—or approximately 16.7 million adults—had no banking access, according to the Federal Deposit Insurance Corporation
The FDIC asked unbanked Americans why they don't have an account. Here are the most commonly-cited reasons:
Inconvenient hours or locations
6.8%
57.5%
Don't have enough money
34.2%
Don't trust banks
30.8%
Account fees too high
16.8%
ID, credit, or banking history problems
26.4%
Privacy
6.8%
Inconvenient hours or locations
No mention of ultra-high interest rates? Surprising...
ReplyDeleteWhat?
ReplyDeleteunbelievable that this still exists on such a large scale.
ReplyDeletebeing unbanked is not just an effect of poverty but also a big contributing force to continued poverty as handling money becomes way more expensive and bothersome when you can't simply log in to your account to pay all your bills with a few mouseclicks, but need to use checques and physical money to recieve income and pay bills in person.