The underbanked are people or businesses that have poor access to mainstream financial services normally offered by retail banks. The underbanked can be characterized by a strong reliance on non-traditional forms of finance and micro-finance often associated with disadvantaged and the poor, such as cheque cashers, loan sharks and pawnbrokers.
Many people who are classified as Underbanked may also refer to those who have language barrier such as migrant workers, unable to access to banking facilities due to distance such as the elderly people, or simply feel uncomfortable using ATM machines.
Small countries have less banking provision than large countries even allowing for the smaller size of their economies.
- Retsinas, Nicolas Paul; Belsky, Eric S. (2005). Building assets, building credit: creating wealth in low-income communities. Brookings Institution Press. p. 299. ISBN 978-0-8157-7409-9.
- Hanson, James A.; Honohan, Patrick; Majnoni, Giovanni (2003). Globalization and National Financial Systems. World Bank Publications. p. 91. ISBN 978-0-8213-5208-3.
- "A Report on Financial Exclusion in Australia" (PDF). Chant Link & Associates. November 2004. Retrieved 6 November 2014.
- Seidman, Ellen; Hababou, Moez; Kramer, Jennifer (September 2005). "Getting to Know Underbanked Consumers: A Financial Services Analysis" (PDF). The Center for Financial Services Innovation. Retrieved 2008-07-22.
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