In the United States, the unbanked, meaning people without a bank account, account for 6%. Statistics showing that 4.2% are unbanked and 14.2% are underbanked are presented, along with an overview of the factors behind and impact of using financial services outside the banking system.
This article reviews recent statistics on the proportion of unbanked people in the United States and the size of the population that either lacks a bank account or has insufficient access to banking services, providing an overview of their financial circumstances. The figures are based on a 2024 report by the Federal Reserve and a 2023 FDIC survey.
According to the statistics, the unbanked accounted for approximately 6% of the total in 2024. In 2023, approximately 4.2% of households were unbanked and approximately 14.2% were underbanked, representing approximately 5.19 million unbanked households and approximately 19 million underbanked households.
The main reasons cited include concerns about being unable to meet minimum balance requirements, distrust of banks and concerns about fees, all of which are identified as barriers to using bank accounts. These factors are explained as contributing to the use of NBFS (nonbank financial services).
The latter part of the article presents a list of the top Savings Accounts as of October 28, 2026, and details specific product information, including the features, terms and bonus information offered by each bank.