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

That regulatory hesitance has spurred a boom in e-wallets and digital banks across the Asia-Pacific region, as companies target unbanked and underbanked populations in developing markets. —Chris Morris, Fortune Asia, 5 Nov. 2024

The success of Pix underscores the growing appetite for digital payment solutions in Latin America, which leads to progress in financial inclusion for unbanked populations. —Federico Sendra, Forbes, 21 Oct. 2024

Noun

The unbanked are more vulnerable to predatory lending practices and their cash is more at risk, financial experts say. —Genna Contino, CNBC, 2 Aug. 2024

When businesses stop accepting cash, the unbanked are forced to use payment methods like prepaid debit cards. —Jay L. Zagorsky, The Conversation, 22 Jan. 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