About 2 billion adults worldwide are "unbanked," down from 2.5 billion in 2011, the World Bank says in a new report based on a survey of about 150,000 people in more than 140 countries. Unbanked people are frozen out of the financial system and must deal strictly in cash: no deposits, no checks, no mortgages, no ATMs. The World Bank report—released on April 15, conducted in conjunction with Gallup World Poll, and paid for by the Bill & Melinda Gates Foundation—has some surprises:
Increasing financial inclusion is crucial, the World Bank report says:
