The actual report in question is kind of fascinating: https://www.fdic.gov/analysis/household-survey/2021execsum.pdf https://www.fdic.gov/analysis/household-su

The actual report in question is kind of fascinating: https://www.fdic.gov/analysis/household-survey/2021execsum.pdf https://www.fdic.gov/analysis/household-survey/2021execsum.p... The thing they are not telling you in this article is that the "unbanked" rate has fallen nearly in half in the last decade - down to just 4.5%. Unbanked people still use prepaid cards, online payment portals, and money transfers at very high rates. And that the number one source of unbanked people getting a bank account is... getting a job. I think the concern is a bit overstated. Most prepaid cards (including the cited Walmart card) have no fees or waive them entirely.