A recent report from the Board of Governors of the Federal Reserve System sheds light on the banking status of adults in the United States.
According to the report, 81% of adult Americans are fully banked, 13% are underbanked, and 6% are unbanked. The share of Americans with each banking status in 2021 remained almost constant from 2020.
However, the share of Americans that are fully banked has risen by 10 percentage points since 2015, the first year that the Federal Reserve published comparable banking status data. This increased share of people who are fully banked corresponds to an 8 percentage point decline in the underbanked share and a 2 percentage point decline in the unbanked share over the same period.
