Unbanked

It targeted the unbanked poor – "the watchmen, tomato sellers and small-scale farmers" whom Mwangi lists as typical customers – with cheap savings accounts and microloans backed by unusual guarantees.

[M]any low-income people are "unbanked" (not served by a financial institution), and thus nearly eaten alive by exorbitant fees. As the St. Louis Federal Reserve pointed out in 2010: "Unbanked consumers spend approximately 2.5 to 3 percent of a government benefits check and between 4 percent and 5 percent of payroll check just to cash them. […]["]

But many feel as though it’s a matter of time before the MTA stops accepting cash, like many retailers have, which has essentially excluded people who are unbanked and lack a credit or debit card.

However, it was recently made obvious, both that the B.R./Sulzer Type 4s can comfortably negotiate the bank without help on the normal express train formations of this route, and also that the Western Region wants to eliminate the expense of providing bankers.