unbanked

1 of 3

adjective (1)

un·​banked ˌən-ˈbaŋ(k)t 

: not banked

especially : lacking a slope or inward tilt

"A sharp unbanked curve that currently has a reduced speed advisory will be reworked and banked to increase driver safety," said [liaison to the Ocean County Department of Engineering, John P.] Kelly.

—Tri-Town News (Orange County, New Jersey)

(golf) … an invaluable shot to an unbanked green …

—Jimmy Demaret

unbanked

2 of 3

adjective (2)

: not having money deposited in a bank

unbanked Americans/communities

Currently, it's next to impossible for unbanked people, especially those operating in cash or voucher-based societies, to become eligible for asset-building materials like business loans.

—Ellie Anzilotti

Households with the least education, with disabilities, with the lowest incomes and with the highest variations in monthly income were the most likely to be unbanked.

—Erin Schilling

also : not deposited in a bank

unbanked money

unbanked

3 of 3

noun

: people who do not have money deposited in a bank

the growing numbers of unbanked

—usually used with the

Never mind the practicality of cheques or ATM machines, let alone the luxury of credit cards or airline miles: the unbanked have no checking, savings or mobile money provider accounts, no access to financial products like insurance, loans or mortgages, no protection for their money from theft or loss.

—Luca Ventura

As online transactions become ubiquitous, life has become more challenging for those who rely on cash: the unbanked, those who don't or can't access banking and financial services, and the underbanked, those who don't make full use of such services.

—Jackie Benton

Examples of unbanked in a Sentence

Recent Examples on the Web

Adjective

Catch up fast: The share of unbanked Americans has been steadily falling since the financial crisis, as more folks started working again. —Emily Peck, Axios, 19 Nov. 2024

There are significant remaining technology gaps, however, and as Biden noted, the United States will need systems that protect privacy, allow unbanked households to access the new currency, and are resilient to cyberattacks. —Darrell Duffie, Foreign Affairs, 22 Apr. 2022

Noun

Advertisement The tiny Central American country has long used the dollar as currency, but Bukele promised bitcoin would provide new opportunities for El Salvador’s unbanked and cut out money transfer services from the remittances Salvadorans abroad send home. —Marcos Alemán, Los Angeles Times, 5 Dec. 2024

The ranks of the unbanked are also falling as the population gets older, and becomes generally more educated — older folks and those with more education are more likely to be banked. —Emily Peck, Axios, 19 Nov. 2024

Word History

Etymology

Adjective (1)

un- entry 1 + banked, past participle of bank entry 2

Adjective (2)

un- entry 1 + banked, past participle of bank entry 4

Noun

derivative of unbanked entry 2

First Known Use

Adjective (1)

1650, in the meaning defined above

Adjective (2)

1871, in the meaning defined above

Noun

1980, in the meaning defined above