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To Bank or Not to Bank (We Have Questions) Part 1
North Philadelphia, Born and Raised… The term unbanked is described informally by the FDIC (Federal Deposit Insurance Corporation) as individuals who do not use banks or banking institutions in any capacity. They generally pay for things in cash, by money orders, or prepaid debit cards. Being underbanked means an individual may have a bank account […]
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Are You Unbanked? Here is What to do About it.
Most Americans have access to a bank account, directly depositing their paychecks each month and digitally paying their bills from it. But not every adult has that advantage. According to the Federal Deposit Insurance Corporation report, or FDIC, about 7.1 million U.S. households are unbanked. These are individuals with no access to a checking or […]