Alternative Financial Services Survey Findings
Learn more about why underbanked consumers turn to costly alternative financial services, and what they value in their payment experiences.
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Where Are the Underbanked Areas? — Data Tool
Data Tool 
This data tool can help organizations (financial institutions, community organizations, researchers and policymakers) identify where unbanked and underbanked households live, which financial services they use, and key demographic patterns.
According to the FDIC, in 2023, approximately 4% of U.S. households (5.6 million) are unbanked, meaning they do not have a checking or savings account at a bank or credit union. Additionally, 14% of U.S. households (about 19 million) are underbanked, meaning they have a bank account but used at least one nonbank financial service in the last year.
FDIC Data Tool: Get information on underbanked and unbanked households by state and metropolitan area.
Related Research
The following research examines financial services usage and financial well-being in the U.S.
Survey of Household Economics and Decisionmaking (SHED)
This annual Federal Reserve study measures the economic well-being of U.S. households and identifies potential risks to their finances. The survey includes modules on a range of topics relevant to financial well-being, including credit access and behaviors, savings, retirement, economic fragility, and education and student loans.
Banking Deserts Dashboard
The Banking Deserts Dashboard is a data tool that maps banking deserts and highlights areas for improving financial access within the U.S. Identifying communities with limited access to physical bank branches can help inform solutions that better serve the financial and banking needs of their residents.
Explore the Survey Findings
Additional Resources
Discover actionable insights, practical examples, and community connections that help organizations across sectors build a more modern and accessible financial system.