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

Bangladesh, however, has one of the world’s largest unbanked populations – 60 million adults – and an overall population of 169 million not especially well served by incumbent lenders. —Zennon Kapron, Forbes, 29 Mar. 2024

Hill leads the financial services vertical, which targets the unbanked and underbanked populations across the globe. —Luisa Beltran, Fortune, 18 Mar. 2024

The People Trust bank opened in 2020 as an expansion of the CDFI (Community Development Financial Institution) under the same name that has been loaning funds, providing capital and giving grants to unbanked and underbanked residents of Little Rock since 2016. —Lenwood V. Long, Sr., Forbes, 29 Feb. 2024

The questions on being banked or unbanked are supplemental questions added to a survey given to people at their homes. —Jay L. Zagorsky, The Conversation, 22 Jan. 2024

According to the World Bank, while more and more people are gaining access to digital payments and bank accounts, as of 2021 there were still 1.4 billion people around the world who remained unbanked. —Anthony Georgiades, Forbes, 12 Feb. 2024

This is a significant global equity issue, as unbanked individuals are excluded from the broader financial community and lack safe vessels for saving and investing to support their families. —Anthony Georgiades, Forbes, 12 Feb. 2024

Black and Latino households are the populations most likely to be either unbanked or underbanked in Los Angeles and nationally, Hutt said. —Carly Olson, Los Angeles Times, 22 Aug. 2023

Second, there will be more people who become unbanked. —Letters To The Editor, The Mercury News, 24 Jan. 2024

Noun

When businesses stop accepting cash, the unbanked are forced to use payment methods like prepaid debit cards. —Jay L. Zagorsky, The Conversation, 22 Jan. 2024

Word History

Etymology

Adjective (1)

un- entry 1 + banked, past participle of bank entry 2

Adjective (2)

un- entry 1 + banked, past participle of bank entry 4

Noun

derivative of unbanked entry 2

First Known Use

Adjective (1)

1650, in the meaning defined above

Adjective (2)

1871, in the meaning defined above

Noun

1980, in the meaning defined above