Current Issues in Economics and Finance
How Effective Is Lifeline Banking in Assisting the Unbanked?
June 1998 Volume 4 Number 6
JEL classification: G2, G28, G21

Authors: Joseph J. Doyle, Jose A. Lopez, and 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?

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