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How effective is lifeline banking in assisting the 'unbanked'?


  • Joseph J. Doyle
  • Jose A. Lopez
  • Marc R. Saidenberg


Many consumers who lack checking accounts are paying relatively high costs to access the nation's payments system. Legislation aimed at opening the system to these unbanked individuals has centered on requiring commercial banks to offer low-cost "lifeline" accounts. But will cost savings alone motivate these consumers to access the payments system through banks?

Suggested Citation

  • Joseph J. Doyle & Jose A. Lopez & Marc R. Saidenberg, 1998. "How effective is lifeline banking in assisting the 'unbanked'?," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 4(Jun).
  • Handle: RePEc:fip:fednci:y:1998:i:jun:n:v.4no.6

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    References listed on IDEAS

    1. Arthur B. Kennickell & Martha Starr-McCluer & Annika E. Sunden, 1997. "Family finances in the U.S.: recent evidence from the Survey of Consumer Finances," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Jan, pages 1-24.
    2. Glenn B. Canner & Ellen Maland, 1987. "Basic banking," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Apr, pages 255-269.
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    Cited by:

    1. Smriti Rao & Hazel Malapit, 2015. "Gender, Household Structure and Financial Participation in the United States," Journal of Family and Economic Issues, Springer, vol. 36(4), pages 606-620, December.
    2. Sherrie L. W. Rhine & William H. Greene & Maude Toussaint-Comeau, 2006. "The Importance of Check-Cashing Businesses to the Unbanked: Racial/Ethnic Differences," The Review of Economics and Statistics, MIT Press, vol. 88(1), pages 146-157, February.
    3. repec:bla:jconsa:v:51:y:2017:i:3:p:631-658 is not listed on IDEAS
    4. Edward Simpson Prescott & Daniel D. Tatar, 1999. "Means of payment, the unbanked, and EFT '99," Economic Quarterly, Federal Reserve Bank of Richmond, issue Fall, pages 49-70.
    5. World Bank, 2009. "Banking the Poor : Measuring Banking Access in 54 Economies," World Bank Publications, The World Bank, number 13804, June.


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