The Urban Unbanked in Mexico and the United States

This paper examines the ways in which lower-income households obtain basic financial services in urban communities in Mexico and the United States. And it discusses the efforts that private sector and government organizations are making to lower the cost or improve the quality of those services. The...

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Main Authors:	Caskey, John P., Durán, Clemente Ruíz, Solo, Tova Maria
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCESS TO BANKING SERVICES ACROSS BORDERS BANK ACCOUNT BANK ACCOUNTS BANK LENDING BANK LOANS BANK TRANSFER BANKING INDUSTRY BANKING SECTOR BANKING SERVICES BANKING SYSTEM BANKS BENCHMARK BILL PAYMENT BILL PAYMENTS BORROWING BUSINESS LOANS CAPITAL MARKETS CHECK CASHING COMMERCIAL BANKS COMMUNITY BANKS COMMUNITY DEVELOPMENT CONSUMERS CREDIT CARD CREDIT CARDS CREDIT LINES CREDIT RISK CREDIT UNIONS DEBIT CARD DEBT DEPOSIT ACCOUNTS DEPOSIT INSURANCE DEPOSITORS DEPOSITS DEVELOPMENT BANKING DIRECT DEPOSIT ECONOMIC DEVELOPMENT ECONOMIC EQUILIBRIUM ECONOMIC GROWTH ECONOMIC LIFE ELECTRONIC PAYMENT ELECTRONIC TRANSFER EMPLOYMENT FACE VALUE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL TRANSACTIONS GDP HOME OWNERSHIP HOMEOWNERS HOMES HOUSEHOLDS HOUSING IMMIGRANT COMMUNITIES INCOME INCOME DISTRIBUTION INCOME INEQUALITY INCOMES INTEREST RATE INTEREST RATES INTERNATIONAL REMITTANCES LABOR COSTS LARGE CITIES MICROFINANCE MIGRANTS MINIMUM BALANCE REQUIREMENTS MONEY ORDER MONEY ORDERS NATIONAL BANKS NATIONAL ECONOMY NATIONAL INCOME OPPORTUNITY COST PAYDAY LENDERS PAYMENT SERVICES PAYMENTS POSTAL SAVINGS PRICE CONTROLS PRIVATE BANKS PRODUCTIVITY PROFITABILITY PUBLIC POLICY PURCHASING POWER REMITTANCE RETAIL BANKING RURAL DEVELOPMENT SAVINGS SAVINGS INSTITUTIONS SAVINGS PROGRAMS SUBSIDIARY TRANSACTION COSTS URBAN AREAS URBAN COMMUNITIES
Online Access:	http://documents.worldbank.org/curated/en/2006/02/6559581/urban-unbanked-mexico-united-states http://hdl.handle.net/10986/8777

id	okr-10986-8777
recordtype	oai_dc
spelling	okr-10986-87772021-04-23T14:02:40Z The Urban Unbanked in Mexico and the United States Caskey, John P. Durán, Clemente Ruíz Solo, Tova Maria ACCESS TO BANKING SERVICES ACROSS BORDERS BANK ACCOUNT BANK ACCOUNTS BANK LENDING BANK LOANS BANK TRANSFER BANKING INDUSTRY BANKING SECTOR BANKING SERVICES BANKING SYSTEM BANKS BENCHMARK BILL PAYMENT BILL PAYMENTS BORROWING BUSINESS LOANS CAPITAL MARKETS CHECK CASHING COMMERCIAL BANKS COMMUNITY BANKS COMMUNITY DEVELOPMENT CONSUMERS CREDIT CARD CREDIT CARDS CREDIT LINES CREDIT RISK CREDIT UNIONS DEBIT CARD DEBT DEPOSIT ACCOUNTS DEPOSIT INSURANCE DEPOSITORS DEPOSITS DEVELOPMENT BANKING DIRECT DEPOSIT ECONOMIC DEVELOPMENT ECONOMIC EQUILIBRIUM ECONOMIC GROWTH ECONOMIC LIFE ELECTRONIC PAYMENT ELECTRONIC TRANSFER EMPLOYMENT FACE VALUE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL TRANSACTIONS GDP HOME OWNERSHIP HOMEOWNERS HOMES HOUSEHOLDS HOUSING IMMIGRANT COMMUNITIES INCOME INCOME DISTRIBUTION INCOME INEQUALITY INCOMES INTEREST RATE INTEREST RATES INTERNATIONAL REMITTANCES LABOR COSTS LARGE CITIES MICROFINANCE MIGRANTS MINIMUM BALANCE REQUIREMENTS MONEY ORDER MONEY ORDERS NATIONAL BANKS NATIONAL ECONOMY NATIONAL INCOME OPPORTUNITY COST PAYDAY LENDERS PAYMENT SERVICES PAYMENTS POSTAL SAVINGS PRICE CONTROLS PRIVATE BANKS PRODUCTIVITY PROFITABILITY PUBLIC POLICY PURCHASING POWER REMITTANCE RETAIL BANKING RURAL DEVELOPMENT SAVINGS SAVINGS INSTITUTIONS SAVINGS PROGRAMS SUBSIDIARY TRANSACTION COSTS URBAN AREAS URBAN COMMUNITIES This paper examines the ways in which lower-income households obtain basic financial services in urban communities in Mexico and the United States. And it discusses the efforts that private sector and government organizations are making to lower the cost or improve the quality of those services. The paper summarizes available information on these issues and assesses the rationale and challenges facing the strategies that both countries are using to improve the financial services available to lower-income households, giving particular attention to "unbanked" households, meaning households that do not have deposit accounts with any regulated deposit-taking institution, and also to lower-income households in large urban areas. In comparing the experiences of the two countries, the paper reviews the extent to which lower-income households are unbanked, their use of non-bank financial services, and strategies for improving financial services to the unbanked. The underlying differences between the countries' typical household incomes-national income per capita in Mexico in 2002 was US$8,540, compared with $35,060 in the United States (World Bank 2003)-may also influence the difference in percentage of unbanked-9.1 percent of families in the United States compared with 76.4 percent found in a recent study in Mexico City. 2012-06-22T15:14:44Z 2012-06-22T15:14:44Z 2006-02 http://documents.worldbank.org/curated/en/2006/02/6559581/urban-unbanked-mexico-united-states http://hdl.handle.net/10986/8777 English Policy Research Working Paper; No. 3835 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research Latin America & Caribbean United States Mexico
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ACCESS TO BANKING SERVICES ACROSS BORDERS BANK ACCOUNT BANK ACCOUNTS BANK LENDING BANK LOANS BANK TRANSFER BANKING INDUSTRY BANKING SECTOR BANKING SERVICES BANKING SYSTEM BANKS BENCHMARK BILL PAYMENT BILL PAYMENTS BORROWING BUSINESS LOANS CAPITAL MARKETS CHECK CASHING COMMERCIAL BANKS COMMUNITY BANKS COMMUNITY DEVELOPMENT CONSUMERS CREDIT CARD CREDIT CARDS CREDIT LINES CREDIT RISK CREDIT UNIONS DEBIT CARD DEBT DEPOSIT ACCOUNTS DEPOSIT INSURANCE DEPOSITORS DEPOSITS DEVELOPMENT BANKING DIRECT DEPOSIT ECONOMIC DEVELOPMENT ECONOMIC EQUILIBRIUM ECONOMIC GROWTH ECONOMIC LIFE ELECTRONIC PAYMENT ELECTRONIC TRANSFER EMPLOYMENT FACE VALUE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL TRANSACTIONS GDP HOME OWNERSHIP HOMEOWNERS HOMES HOUSEHOLDS HOUSING IMMIGRANT COMMUNITIES INCOME INCOME DISTRIBUTION INCOME INEQUALITY INCOMES INTEREST RATE INTEREST RATES INTERNATIONAL REMITTANCES LABOR COSTS LARGE CITIES MICROFINANCE MIGRANTS MINIMUM BALANCE REQUIREMENTS MONEY ORDER MONEY ORDERS NATIONAL BANKS NATIONAL ECONOMY NATIONAL INCOME OPPORTUNITY COST PAYDAY LENDERS PAYMENT SERVICES PAYMENTS POSTAL SAVINGS PRICE CONTROLS PRIVATE BANKS PRODUCTIVITY PROFITABILITY PUBLIC POLICY PURCHASING POWER REMITTANCE RETAIL BANKING RURAL DEVELOPMENT SAVINGS SAVINGS INSTITUTIONS SAVINGS PROGRAMS SUBSIDIARY TRANSACTION COSTS URBAN AREAS URBAN COMMUNITIES
spellingShingle	ACCESS TO BANKING SERVICES ACROSS BORDERS BANK ACCOUNT BANK ACCOUNTS BANK LENDING BANK LOANS BANK TRANSFER BANKING INDUSTRY BANKING SECTOR BANKING SERVICES BANKING SYSTEM BANKS BENCHMARK BILL PAYMENT BILL PAYMENTS BORROWING BUSINESS LOANS CAPITAL MARKETS CHECK CASHING COMMERCIAL BANKS COMMUNITY BANKS COMMUNITY DEVELOPMENT CONSUMERS CREDIT CARD CREDIT CARDS CREDIT LINES CREDIT RISK CREDIT UNIONS DEBIT CARD DEBT DEPOSIT ACCOUNTS DEPOSIT INSURANCE DEPOSITORS DEPOSITS DEVELOPMENT BANKING DIRECT DEPOSIT ECONOMIC DEVELOPMENT ECONOMIC EQUILIBRIUM ECONOMIC GROWTH ECONOMIC LIFE ELECTRONIC PAYMENT ELECTRONIC TRANSFER EMPLOYMENT FACE VALUE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL TRANSACTIONS GDP HOME OWNERSHIP HOMEOWNERS HOMES HOUSEHOLDS HOUSING IMMIGRANT COMMUNITIES INCOME INCOME DISTRIBUTION INCOME INEQUALITY INCOMES INTEREST RATE INTEREST RATES INTERNATIONAL REMITTANCES LABOR COSTS LARGE CITIES MICROFINANCE MIGRANTS MINIMUM BALANCE REQUIREMENTS MONEY ORDER MONEY ORDERS NATIONAL BANKS NATIONAL ECONOMY NATIONAL INCOME OPPORTUNITY COST PAYDAY LENDERS PAYMENT SERVICES PAYMENTS POSTAL SAVINGS PRICE CONTROLS PRIVATE BANKS PRODUCTIVITY PROFITABILITY PUBLIC POLICY PURCHASING POWER REMITTANCE RETAIL BANKING RURAL DEVELOPMENT SAVINGS SAVINGS INSTITUTIONS SAVINGS PROGRAMS SUBSIDIARY TRANSACTION COSTS URBAN AREAS URBAN COMMUNITIES Caskey, John P. Durán, Clemente Ruíz Solo, Tova Maria The Urban Unbanked in Mexico and the United States
geographic_facet	Latin America & Caribbean United States Mexico
relation	Policy Research Working Paper; No. 3835
description	This paper examines the ways in which lower-income households obtain basic financial services in urban communities in Mexico and the United States. And it discusses the efforts that private sector and government organizations are making to lower the cost or improve the quality of those services. The paper summarizes available information on these issues and assesses the rationale and challenges facing the strategies that both countries are using to improve the financial services available to lower-income households, giving particular attention to "unbanked" households, meaning households that do not have deposit accounts with any regulated deposit-taking institution, and also to lower-income households in large urban areas. In comparing the experiences of the two countries, the paper reviews the extent to which lower-income households are unbanked, their use of non-bank financial services, and strategies for improving financial services to the unbanked. The underlying differences between the countries' typical household incomes-national income per capita in Mexico in 2002 was US$8,540, compared with $35,060 in the United States (World Bank 2003)-may also influence the difference in percentage of unbanked-9.1 percent of families in the United States compared with 76.4 percent found in a recent study in Mexico City.
format	Publications & Research :: Policy Research Working Paper
author	Caskey, John P. Durán, Clemente Ruíz Solo, Tova Maria
author_facet	Caskey, John P. Durán, Clemente Ruíz Solo, Tova Maria
author_sort	Caskey, John P.
title	The Urban Unbanked in Mexico and the United States
title_short	The Urban Unbanked in Mexico and the United States
title_full	The Urban Unbanked in Mexico and the United States
title_fullStr	The Urban Unbanked in Mexico and the United States
title_full_unstemmed	The Urban Unbanked in Mexico and the United States
title_sort	urban unbanked in mexico and the united states
publisher	World Bank, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2006/02/6559581/urban-unbanked-mexico-united-states http://hdl.handle.net/10986/8777
_version_	1764405977446088704

The Urban Unbanked in Mexico and the United States

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