Meaning of unbanked | Babel Free

Definitions

1. Not having been banked.
   not-comparable
2. Not served by a bank.
   not-comparable
3. Of a train, not having the assistance of a banker (etymology 3) when climbing a steep grade (or bank).
   not-comparable, rare

Equivalents

Examples

“It targeted the unbanked poor – "the watchmen, tomato sellers and small-scale farmers" whom Mwangi lists as typical customers – with cheap savings accounts and microloans backed by unusual guarantees.”

“[M]any low-income people are "unbanked" (not served by a financial institution), and thus nearly eaten alive by exorbitant fees. As the St. Louis Federal Reserve⟳ pointed out in 2010: "Unbanked consumers spend⟳ approximately 2.5 to 3 percent of a government benefits check and between 4 percent and 5 percent of payroll check just to cash them. […]["]”

“But many feel⟳ as though it’s a matter⟳ of time before the MTA stops accepting cash, like⟳ many retailers have⟳, which has essentially excluded people who are unbanked and lack a credit or debit card.”

“However, it was recently made obvious, both that the B.R./Sulzer Type⟳ 4s can comfortably negotiate⟳ the bank without help⟳ on the normal express⟳ train⟳ formations of this route, and also that the Western Region wants to eliminate the expense of providing bankers.”

CEFR level