Underbanked Market Data

National Survey of Unbanked and Underbanked Households - The Federal Deposit Insurance Corporation (FDIC) first commissioned this study as a January 2009 special supplement to the U.S. Census Bureau's Current Population Survey. In June 2011, the FDIC sponsored a second study as a follow-up and published its findings on September 2012. The study provides key data on the number of U.S. households that are unbanked and underbanked. It also includes demographic characteristics and reasons individuals gave for not having bank accounts and for using nontraditional financial services.

CFSI in Brief on the Underbanked Consumer Study Fact Sheet - This fact sheet summarizes a 2008 study conducted by the Center for Financial Services Innovation (CFSI), a consulting firm that advises banks about financial services for underbanked consumers. The study’s participants provided information on their use of traditional and nontraditional financial services, products, and institutions. CFSI then analyzed the attitudes, behaviors, and experiences of consumers identified as underbanked and unbanked. The study is proprietary and only available for sale by CFSI.

Underbanked Market Data - In collaboration with the Core Innovation Fund, CFSI published in November 2011 data on the 2010 underbanked market. The data include estimates on spending by underbanked consumers on payment services, loans, payday loans, prepaid cards, and payroll cards, among other data.

Fees and the Unbanked: State Data at a Glance - This interactive map is published by the Pew Charitable Trusts, a nonprofit group, and shows state-by-state data on the underbanked population. The map also shows how much it costs a bank account holder to maintain a checking account.