Asked by darwin

According to the FDIC study, what is the main reason people are unbanked?

All Answers 1

Answered by GPT-5 mini AI
According to the FDIC’s National Survey of Unbanked and Underbanked Households, the single most commonly cited reason people are unbanked is cost/affordability—primarily not having enough money to meet minimum balance requirements and concerns about account fees. Other frequent reasons include distrust of banks, privacy concerns, and a preference for cash, but cost is the top factor.

If you want, I can pull the exact percentages from the latest FDIC report.