un·der·banked
ˌən-dər-ˈbaŋ(k)t
: not using or having access to a full range of banking options
[The survey] also measures how many households are underbanked, meaning they have a bank account but look outside the banking system to meet transaction or credit needs.—FDIC
Workers who live from paycheck to paycheck can easily slide from the traditional banking world to the underbanked world and then to the unbanked.—Mikki Kendall
: a person or group of people who do not utilize or have access to a full range of banking options
As online transactions become ubiquitous, life has become more challenging for those who rely on cash: the unbanked, those who don't or can't access banking and financial services, and the underbanked, those who don't make full use of such services.—Jackie Benton
Now he [Michael Broughton, CEO of Altro] wants to empower the underbanked, and eventually folks without any bank account at all, to have more financial power.—Sara Bloomberg
Cite this Entry
“Underbanked.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/underbanked. Accessed 7 Jul. 2026.
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