Account penetration is high in wealthy countries, but there is great variation in account penetration among lower income countries

August 2012
By Kerry Brennan

Account penetration is high in wealthy countries, but there is great variation in account penetration among lower income countries
A formal bank account provides a secure way to save, and is the gate- way to accessing many other financial services that can help individuals manage their financial lives. While a formal account is taken for granted as a necessity by many people in high income countries, account access varies widely for their low income counterparts.