Type: Report [PDF]
Author/Source: Pew Charitable Trust, 2008.

In Austin, about 30,000 households do not have a depository account. These unbanked households are paying more than $200 in extra fees from services such as cashing checks, wiring money and creating money orders. This report looks at the seven reasons why the majority of these unbanked households are likely to be qualified for an appropriate account and what’s keeping these households away from banks and credit unions.

Although many households choose to be unbanked because they operate in a cash economy or don’t have the appropriate paperwork, the report looks at the majority of the reasons unbanked households give for not having a bank account. Most of them are misconceptions.

Links:

• Pew Charitable Trust website
• Bank on Central Texas website