Infographic
Money Under the Mattress?
May 15, 2014
The fraction of American households that have no bank accounts has long been a concern for policymakers. Estimates from a nationally representative sample, RAND's American Life Panel, suggest that in 2011: 15.5 percent of the population is unbanked; socioeconomically disadvantaged individuals are more likely to be unbanked; unbanked respondents cite financial barriers and personal preference as reasons for not having a bank account.
Results from the 2011 American Life Panel Survey
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The fraction of American households that have no savings or checking bank accounts (i.e., are "unbanked") has long been a concern for policymakers. In the current economic environment, new and timely data are critical to understanding the development of this issue. Estimates from a nationally representative sample of individuals, RAND's American Life Panel, suggest that in 2011: 15.5 percent of the population is unbanked; socioeconomically disadvantaged individuals are considerably more likely to be unbanked; unbanked households cite both financial barriers and personal preference as reasons for not having a bank account.
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