un·der·banked
ˌən-dər-ˈbaŋ(k)t 
: not using or having access to a full range of banking options
[The survey] also measures how many households are underbanked, meaning they have a bank account but look outside the banking system to meet transaction or credit needs.—
FDIC
FDICWorkers who live from paycheck to paycheck can easily slide from the traditional banking world to the underbanked world and then to the unbanked.—Mikki Kendall
Mikki Kendall
: a person or group of people who do not utilize or have access to a full range of banking options
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
Jackie BentonNow he [Michael Broughton, CEO of Altro] wants to empower the underbanked, and eventually folks without any bank account at all, to have more financial power.—Sara Bloomberg
Sara BloombergExamples of underbanked in a Sentence
Recent Examples on the Web
Expert Panel®, Forbes.com, 9 May 2025
As traditional payments, stablecoins and blockchain networks continue to integrate, stablecoins will play a central role in cross-border fund transfers, digital capital markets and financial services for underbanked populations.
—Chuck Zhang, Forbes.com, 30 Apr. 2025
For example, consider Revolut’s focus on competitive foreign exchange rates, Chime’s early direct deposit and no-fee overdraft and CashApp’s peer-to-peer service that focuses on the underbanked segment.
—Jayant Walia, Forbes.com, 3 Apr. 2025
The people who have benefited most from the infrastructure for electronic transactions are low-income Americans who are unbanked or underbanked.
—Stephen Moore, Boston Herald, 10 Mar. 2025
See All Example Sentences for underbanked
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Adjective
Frictionless Trust And Broader Access Customers—especially in underbanked regions—value frictionless trust: fast, secure and easy access to funds.
—Expert Panel®, Forbes.com, 9 May 2025
As traditional payments, stablecoins and blockchain networks continue to integrate, stablecoins will play a central role in cross-border fund transfers, digital capital markets and financial services for underbanked populations.
—Chuck Zhang, Forbes.com, 30 Apr. 2025
For example, consider Revolut’s focus on competitive foreign exchange rates, Chime’s early direct deposit and no-fee overdraft and CashApp’s peer-to-peer service that focuses on the underbanked segment.
—Jayant Walia, Forbes.com, 3 Apr. 2025
The people who have benefited most from the infrastructure for electronic transactions are low-income Americans who are unbanked or underbanked.
—Stephen Moore, Boston Herald, 10 Mar. 2025
See All Example Sentences for underbanked
Cite this Entry
“Underbanked.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/underbanked. Accessed 22 May. 2025.
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