Yes, according to the FDIC 9% of US households have no relationship with a bank. An additional 19.9% are "underbanked" in that they have a checking or savings a

Yes, according to the FDIC 9% of US households have no relationship with a bank. An additional 19.9% are "underbanked" in that they have a checking or savings account, but rely heavily on non-banks for financial services (pay day loan lines of credit, paypal/venmo accounts, primary cash users, etc). This is _households_. The number of teen to twenties in these categories is probably much higher. I know kids who have all their money (hundreds of dollars) in venmo and transfer money to friends to get cash.