This chart shows the percentage of unbanked households in the US. The dark red dots are from the Fed’s triennial Survey of Consumer Finances. The light red dots are from the FDIC’s biannual Survey of Unbanked and Underbanked Households:
With the exception of the odd outlier in the 2016 SCF, we seem to be approaching a long-term unbanked level of about 6 percent. That compares to about 8 percent in Europe. Unsurprisingly, the unbanked rate is higher for low-income families and the young. Also unsurprisingly, it’s much, much higher for people of color:
Here’s a map of the unbanked rate throughout the world:
