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- Significantly, almost half of this unbanked group previously had bank accounts and now choose not to have one. Reported factors in this decision include distrust of banks, high fees, or large minimum balances.
libertystreeteconomics.newyorkfed.org/2021/06/banking-the-unbanked-the-past-and-future-of-the-free-checking-account/
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Jul 26, 2023 · 7% of UK adults were refused a financial product or service in the 2 years to May 2022 – unchanged from 2020. There was a slight drop in the proportion who did not have their own current account.
Aug 2, 2023 · Why do people not have current accounts? The FCA's report shows that 53% of unbanked people – defined as not having a current account – don't want one, which could be for a number...
- James Hockaday
Jul 31, 2023 · The unbanked – and what to do about the problem. If the media was to be believed, the fact that there are people without access to bank accounts in the UK has only just been discovered. Nothing could be further from the truth. The issue is real and ongoing. Let's have some facts.
Sep 6, 2017 · Two billion people worldwide do not have a bank account or access to a financial institution via a mobile phone, or any other device. But between 2011 and 2014, 700 million adults became account holders, and the unbanked population fell by 20%, down from 2.5 billion.
- Camilla Hodgson
Mar 12, 2024 · According to a three-year survey, the "unbanked" population in the UK - or those who or those who did not access to the services of a bank or another, similar financial organization - was...
The FCA has published research estimating that 1.3 million UK adults are ‘unbanked’, meaning they do not have a bank account. 14 The Committee took evidence to understand whether those that are unbanked experience any preventable barriers to opening a bank account.
Sep 13, 2022 · Half of the adults around the world – around 2.5 billion people – don’t use formal financial services, and 75% of poor people are unbanked because of costs, travel distances and burdensome requirements involved in opening a financial account.
