Underbanked
Definition, Meaning & Examples
Part of speech adjective
Quick meaning: Underbanked is an adjective meaning Having inadequate access to financial services or formal banking facilities.
Meaning
Having inadequate access to financial services or formal banking facilities.
Example Sentences
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.”
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.
Related Words
Related dictionary entries include bankless, bankerless, cash-strapped, undercapitalized, uncovered, undercapitaled.
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Sources & Attribution
FreeDictionaryAPI.com / Wiktionary · Original source · CC BY-SA 4.0
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