unbanked

1 of 3

adjective (1)

un·banked ˌən-ˈbaŋ(k)t

: not banked

especially : lacking a slope or inward tilt

"A sharp unbanked curve that currently has a reduced speed advisory will be reworked and banked to increase driver safety," said [liaison to the Ocean County Department of Engineering, John P.] Kelly. —

Tri-Town News (Orange County, New Jersey)

(golf) … an invaluable shot to an unbanked green … —

Jimmy Demaret

unbanked

2 of 3

adjective (2)

: not having money deposited in a bank

unbanked Americans/communities

Currently, it's next to impossible for unbanked people, especially those operating in cash or voucher-based societies, to become eligible for asset-building materials like business loans.—

Ellie Anzilotti

Households with the least education, with disabilities, with the lowest incomes and with the highest variations in monthly income were the most likely to be unbanked.—

Erin Schilling

also : not deposited in a bank

unbanked money

unbanked

3 of 3

noun

: people who do not have money deposited in a bank

the growing numbers of unbanked

—usually used with the

Never mind the practicality of cheques or ATM machines, let alone the luxury of credit cards or airline miles: the unbanked have no checking, savings or mobile money provider accounts, no access to financial products like insurance, loans or mortgages, no protection for their money from theft or loss.—

Luca Ventura

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

Examples of unbanked in a Sentence

Recent Examples on the Web

Adjective

These newer offerings that provide immediate funds availability and certainty of payments receipt may serve as a more secure and lower cost option for the unbanked and underbanked, providing better support for an audience that has largely remained outside of the traditional banking environment. —

Reed Luhtanen, Forbes, 28 Nov. 2023 When it was conceived in 2009, the Indian government hoped that a new digital payment system could help the unbanked, eliminate black-market activity, and reduce money printing costs. —

Maju Kuruvilla, Fortune, 14 Sep. 2023 But such businesses exclude certain customers and create an issue of equity since unbanked, elderly and low-income residents rely mostly on cash to get by. —

Elvia Limón, Los Angeles Times, 23 Aug. 2023 The Federal Deposit Insurance Corp., in its latest study on unbanked Americans, estimated just 4.5% off households didn’t have any checking or savings accounts at a bank or credit union. —

Russ Wiles, The Arizona Republic, 4 June 2023 Checks arrived late for some of the unbanked:For 'unbanked' Americans, pandemic stimulus checks arrived slowly and with higher fees. —

Charisse Jones, USA TODAY, 26 Oct. 2022 For example, from 2017-21, the percentage of unbanked Black households fell from 17 percent to 11 percent. —

Shelley Stewart, Forbes, 7 May 2023 The decline in unbanked households may partially be attributed to the coronavirus pandemic. —

BostonGlobe.com, 25 Oct. 2022 More unbanked individuals could also be integrated into the larger financial ecosystem. —

Marco Quiroz-Gutierrez, Fortune Crypto, 23 June 2023 See More

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'unbanked.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.