Unbanked / Underbanked Household Rate
4.2% — down from 4.5% two years ago; a record low, halved from 8.2% in 2011
What is the current Unbanked / Underbanked Household Rate?
4.2% of American households have no bank account at all (unbanked), and millions more are underbanked — relying on check cashers, payday lenders, and other alternative financial services instead of traditional banking. Being unbanked or underbanked increases the cost of basic financial transactions and excludes households from mainstream credit. Source: FDIC National Survey of Unbanked and Underbanked Households.
4.2% of US households remain unbanked — lowest rate on record
Steady decline from 8.2% in 2011. FDIC biennial survey.
Explore Further
Is this happening to you?
Do you or someone you know rely on check-cashing or prepaid cards instead of a bank account?
How has Unbanked / Underbanked Household Rate changed over time?
| Period | Value | YoY Change |
|---|---|---|
| 2023 | 4.2% | — |
| 2021 | 4.5% | — |
| 2019 | 5.4% | — |
| 2017 | 6.5% | — |
| 2015 | 7% | — |
| 2013 | 7.7% | — |
| 2011 | 8.2% | — |
Frequently Asked Questions
How many Americans don't have a bank account?
4.2% of U.S. households are unbanked — they have no checking or savings account at any bank or credit union. This leaves them reliant on check cashers, money orders, and prepaid cards for basic financial transactions.
What does 'underbanked' mean?
Underbanked households have a bank account but still rely on alternative financial services — payday lenders, check cashers, pawn shops, rent-to-own services — for some financial needs. These services typically carry much higher costs than traditional banking.
Where does unbanked/underbanked data come from?
The FDIC conducts its National Survey of Unbanked and Underbanked Households biennially, providing the most comprehensive government assessment of banking access in the United States.
Quick poll
Is this affecting you or your household?
Discussion
Get the numbers when they move.
New data drops, indicator updates, and ADI score changes — delivered when it matters. No spam.
or Create an Account for full access
Loading comments…