Nearby & related entries: 1  governessy. 2  governing. 3  governing board. 4  governing body. 5  governing factors. 6  government accounting office. 7  government activity. 8  government agencies. 9  government agency. 10  government agent.
Definition of the adjective Unbanked. What does Unbanked mean as an attribute of a noun? adjective. Not having been banked; Not served by a bank; Explanation. The unbanked are adults who do not have their own bank accounts. Along with the underbanked, they may rely on alternative financial services for their financial needs, where these are available. Printed dictionaries and other books with definitions for Unbanked
Another nearly 17 percent of the American population is underbanked, meaning they use a bank account in addition to an alternative financial service like payday lenders or payroll cards. But this population is increasingly turning to another American ubiquity â the mobile phone (87 percent of us have them) â for their financial service needs. According to a new report from the Federal Reserve Boardâs Division of Consumer and Community Affairs, 40 percent of underbanked consumers with mobile phones had done mobile banking in 2013. Of the unbanked, nearly 70 percent has a mobile phone.