What is the meaning of being "unbanked"?

[Good-Person]

There are many people who now use services of financial services offered by many different kinds of financial organisations. However, even during modern times, there may be many people who may never utilise services of such kind of organisations. They are known as unbanked people. So, are you one of them?

 

[Kane]

People who do not have access to banking services are usually referred to as unbanked people. These people do not even have bank accounts and they usually deal with cash transactions. People mostly living in rural areas and low income people (grassroots people) are usually unbanked people.