Banks’ unfairness and the vulnerability of low-income unbanked consumers

Abstract
This paper’s objective was to explore low-income unbanked consumers’ perceptions of bank fairness and the way these perceptions were linked to consumer experiences of vulnerability. Qualitative data were used to analyse low-income consumers’ perceptions about banks’ services and communications. The study finds that although consumers’ financial inclusion is partially hindered by their personal circumstances, the perceived unfair treatment by banks has an even more negative impact on their financial inclusion. Low-income unbanked individuals report banks avoiding them, discriminating against them and impeding their financial inclusion. Banks’ perceived unfairness towards low-income consumers leads those consumers to experience vulnerability in numerous ways. Finally, we provide public policy implications for low-income consumers’ well-being and financial inclusion and to assist them in mitigating their vulnerability.
Main Authors
Format
Articles Research article
Published
2019
Series
Subjects
Publication in research information system
Publisher
Taylor & Francis
The permanent address of the publication
https://urn.fi/URN:NBN:fi:jyu-201811214815Use this for linking
Review status
Peer reviewed
ISSN
0264-2069
DOI
https://doi.org/10.1080/02642069.2018.1436704
Language
English
Published in
Service Industries Journal
Citation
License
In CopyrightOpen Access
Copyright© 2018 Informa UK Limited, trading as Taylor & Francis Group.

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