unbanked

un- +‎ bank +‎ -ed

unbanked (not comparable)

1. Not having been banked.
2. Not served by a bank.
   • 2009 January 2, Xan Rice, “Three million customers and still counting: the bank getting rich by helping the poor”, in The Guardian (London)‎:

     It targeted the unbanked poor – "the watchmen, tomato sellers and small-scale farmers" whom Mwangi lists as typical customers – with cheap savings accounts and microloans backed by unusual guarantees.

   • 2015 January 18, Charles M. Blow, “How expensive is it to be poor [print version: International New York Times, 20 January 2015, p. 7]”, in The New York Times:

     [M]any low-income people are "unbanked" (not served by a financial institution), and thus nearly eaten alive by exorbitant fees. As the St. Louis Federal Reserve pointed out in 2010: "Unbanked consumers spend approximately 2.5 to 3 percent of a government benefits check and between 4 percent and 5 percent of payroll check just to cash them. […] ["]