Why Don't Households Have a Checking Account

Why Don't Households Have a Checking Account

Using the Surveys of Consumer Finance from 1989 to 2001, this study expolres households' reasons for not having a checking account. Reasons havechanged over time, shifting away from account features and toward human capital and institutional reasons. We also find that reasons for not having an...

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Veröffentlicht in:The Journal of consumer affairs 2004-06, Vol.38 (1), p.1-34
Hauptverfasser: HOGARTH, JEANNE M., ANGUELOV, CHRIS E., LEE, JINKOOK
Format: Artikel
Sprache:eng
Schlagworte:
Academic motivation
Analysis
Bank accounts
Banking
Case studies
Checking accounts
Chequeing accounts
Community Relations
Consumer behavior
Consumer motivation
Consumer psychology
Consumers
Cost control
Economic motivation
Education
Educational Attainment
Employment Level
Ethnicity
Evaluation
Fees & charges
Financial institutions
Focus Groups
Households
Human Capital
Language Aptitude
Low income groups
Marital Status
Money Management
Motivation (Psychology)
Ownership
Planning
Poverty
Product design
Public policy
Reason
Retirement
Savings plans
Single status
Social Organizations
Studies
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Beschreibung
Zusammenfassung:Using the Surveys of Consumer Finance from 1989 to 2001, this study expolres households' reasons for not having a checking account. Reasons havechanged over time, shifting away from account features and toward human capital and institutional reasons. We also find that reasons for not having an account are related to income, race/ethnicity, marital status/gender, planning horizon, education, previous account experience, and credit history. We suggest potential responses for community educators, firms, and policy makers.
ISSN:0022-0078
1745-6606
DOI:10.1111/j.1745-6606.2004.tb00463.x