The unbanked is a term for individuals who lack access to traditional financial services and normal bank.

The most commonly cited reasons for being unbanked are:

  1. Insufficient funds to maintain a minimum account balance
  2. Lack of domestic banks, or untrustworthy banks with suboptimal safety regarding customer deposits.
  3. Lack of government identification or proof of residency needed to pass KYC checks to open an account.``

See also predatory inclusion.


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