How many Americans are underinsured? According to The Commonwealth Fund, 21% of U.S. adults had inadequate health insurance coverage in 2020.5 Who is most likely to be underinsured? People most likely to be underinsured include those struggling to make ends meet and those without a decent unde...
The ABA maintains that, rather than the Postal Service, the answer to theproblem of the unbankedis to be found at its own branches. “It’s easier than ever to open a bank account in this country, including Bank On-certified accounts, which are now available in more than half of all U...
Fintech has undoubtedly given millions of people access to fast, convenient and 24-hour banking and payment services such as Venmo, Apple Pay, PayPay and more. But these services only work if you have a bank account. Today it’s estimated that 1.7 billion people worldwide are entirelyunbanke...
With 5% of Americans unbanked, and three times as many as that underbanked, there are still reasons to consider joining the banking system rather than totally avoiding it. A person with no banking history may find it harder to secure the loan relationships needed in life, such as car...
Digital wallets jibe with the objective of bringing banking services to the millions of Americans that are unbanked. “While the number of banked households in the U.S. has trended upward in recent years, the impact of the coronavirus could likely reverse that trend, according to arecent repor...
Action: Search Action Input: "Alternative financial services for those without a bank account"[0m Observation:[36;1m[1;3mInstead, people who are unbanked use alternative financial services—payday loans, money orders, check cashing services, pawnshop loans, and the like—to meet their ...
Check-cashing storesand retailers that provide check-cashing services are common options for the 18 percent of Americans theFederal Deposit Insurance Corporation(FDIC) refers to as unbanked and underbanked. Many banks and credit unions won't cash a check for noncustomers, so check-cashing stores fu...
you likely don't give it a second thought – you just head to a branch or ATM. But while most Americans uses a bank or credit union, the 2022 survey by theFederal Reserve Systemfound that 6% of U.S. adults are "unbanked," meaning they, along with their spouse or partner, don't ...
Shockingly, many workers remain unbanked or underbanked, meaning it's harder for them to access financial services and get their pay in a convenient way. With Branch, your employees have free access to online banking as soon as they start working for you. Branch comes with zero overdraft fees...
Seventy percent of the population in the region is unbanked or underbanked. In addition, mobile phone adoption is high in the region, at more than 70%. These 2 factors offer ripe conditions for challenger banks to disrupt the traditional banking sector. N26 received its license to operate in...