Many people choose to be unbanked due to a lack of trust in traditional banking services. Why do you think some individuals place more trust in alternative banking services?
They want more control over their finances, feeling their money is in the bank and they don’t have access to it.
Many people choose to be unbanked due to a lack of trust in traditional banking services. Why do you think some individuals place more trust in alternative banking services?
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Some individuals place more trust in alternative banking services because these options often provide greater transparency, accessibility, and lower fees. Alternative services, such as credit unions or digital wallets, may offer personalized customer service and a more community-oriented approach, which can enhance trust. Additionally, many users appreciate the control they feel when managing their finances through platforms that require less formal identification or allow for immediate access to funds. This empowerment can lead to a stronger sense of financial security.