US households that lack digital means of making and receiving payments cannot participate fully in an increasingly digitized economy. Assessing the scope of this problem and addressing it requires a definition of households that are underserved in digital payments. Traditional definitions of...

We examine the influence that geographic proximity to bank branches and (nonbank) alternative financial services providers has on use of financial transaction services among U.S. households. We specify a bivariate probit model of bank account ownership and use of nonbank transaction products to...

This study determines that the decisions to use nonbank financial services and to have a bank account are made jointly by immigrant and native born families. Immigrant families, especially those from Mexico or other Latin American countries, have a higher probability of using nonbank financial...