Meaning of underbanked | Babel Free

Definitions

Having inadequate access to financial services or formal banking facilities.

Examples

“In some contexts, the fact that the unbanked or underbanked individuals use fringe banking services is a matter of some considerable concern since they tend to be associated with exorbitant costs and unfair conditions.”

“According to a 2004 report by the Federal Deposit Insurance Corporation, the “rapid growth of the underbanked Hispanic market suggests a new growth opportunity for many institutions.””

CEFR level