Latest Study Shows Growing Number of Unbanked Americans
According to the latest FDIC study, 8.2 percent of our nation’s households are unbanked. That represents nearly 10 million households, an increase of 821,000 households in a two-year period.
The National Survey of Unbanked and Underbanked Households, released in September by the FDIC showed 1 in 12 households is unbanked and approximately 17 million adults live in these households.
In addition, one in five U.S. households, 24 million in total, are underbanked.
Nearly 30 percent of households (29.3) do not have a savings account, while almost 10 percent do not have a checking account. The top reasons households do not have bank accounts is that they do not feel they have enough money or they simply don’t want or need one.
The use of prepaid debit cards is growing among the unbanked households. The proportion of these households using a prepaid debit card rose from 12.2 percent in 2009 to 17.8 percent in 2011.