The problem of being unbanked affects 2 billion people in the world, the impact of which is that they have no access to credit, insurance, savings, and payments.
I found the following links about un/underbanked American families– I hope that my teammates find sources on non-American sources.
7% of American families are unbanked and 20% are underbanked, according to the FDIC. 57.4% of unbanked respondants say that one reason for being unbanked is that they do not have enough money to keep in an account. Other reasons given include privacy, not trusting the banks, and account fees being too high or unpredictable.
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