Unbanked

The term "unbanked" refers to individuals or households who do not have access to traditional banking services such as savings accounts, checking accounts, or credit facilities. This can result from factors like lack of identification, limited financial infrastructure in their area, or personal choice. Being unbanked can make it harder to save securely, receive payments, or access credit, often leading to reliance on cash or informal financial services. Addressing the unbanked population is important for financial inclusion, economic stability, and ensuring that everyone can participate fully in the economy.