Indicator 8.10.2 Proportion of adults (15 years and older) with an account at a bank or other financial institution or with a mobile-money-service provider

Indicator 8.10.2: Proportion of adults (15 years and older) with an account at a bank or other financial institution or with a mobile-money-service provider

Target 8.10: Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all

World Bank

Definition:

The percentage of adults (ages 15+) who report having an account (by themselves or together with someone else) at a bank or another type of financial institution or personally using a mobile money service in the past 12 months.

Concepts:

Financial institution accounts (excluding mobile money) denote the percentage of respondents who report having an account (by themselves or together with someone else) at a bank, credit union, microfinance institution, or post office that falls under prudential regulation by a government body.

Data on adults with a financial institution account include respondents who reported having an account at a bank or at another type of financial institution, such as a credit union, a microfinance institution, a cooperative, or the post office (if applicable). The data also include an additional 3 percent of respondents in 2021 who reported receiving wages, government transfers, a public sector pension, or payments for agricultural products into a financial institution account in the past year; paying utility bills or school fees from a financial institution account in the past year; or receiving wages, government transfers, or agricultural payments into a card in the past year. The definition does not include non-bank financial institutions such as pension funds, retirement accounts, insurance companies, or equity holdings such as stocks.

Mobile money accounts denote the percentage of respondents who report personally using a mobile money service to make payments, buy things, or to send or receive money in the past year. Data on adults with a mobile money account include respondents who reported personally using services included in the GSM Association’s Mobile Money for the Unbanked (GSMA MMU) database to pay bills or to send or receive money in the past year. The data also include an additional 2 percent of respondents in 2021 who reported receiving wages, government transfers, a public sector pension, or payments for agricultural products through a mobile phone in the past year. Unlike the definition of account at a financial institution, the definition of mobile money account does not include the payment of utility bills or school fees through a mobile phone. The reason is that the phrasing of the possible answers leaves it open as to whether those payments were made using a mobile money account or an over-the-counter service.

Percent (%)

The indicators in the Global Findex Database 2021 are drawn from survey data covering almost 128,000 people in 123 economies—representing 91 percent of the world’s population. The survey was carried out over the 2021 calendar year, and now marks the fourth round of Global Findex data since 2011. Typically, the survey captures data from more than 140 economies, but surveying was postponed in a handful of countries in 2021 due to COVID-19. These countries were surveyed in 2022, and data on these additional 17 countries will be available in 2023.

The surveying is undertaken by Gallup, Inc. as part of its Gallup World Poll, , which since 2005 has continually conducted surveys of approximately 1,000 people in each of more than 160 economies and in over 150 languages, using randomly selected, nationally representative samples. The target population is the entire civilian, noninstitutionalized population age 15 and above.

Full report, including methodology and interview procedures, data preparation, margin of error and notes by country are all available under Methodology Table A.1 here:

https://www.worldbank.org/en/publication/globalfindex/Report

Collected by Gallup, Inc. through the Gallup World Poll and compiled by the World Bank

Global Findex Database—only measures the ‘perception’ people have about their account ownership and usage by providing individual-level survey data on the demographic characteristics of users of financial services. This demand-side data collects information on the percent of adults who think of themselves as ‘banked’ and having access to an account. The database complements but does replace existing supply-side data and other household surveys.

The indicator is based on data collected through individual level surveys in each country with representative samples. Data weighting is used to ensure a nationally representative sample for each economy. Final weights consist of the base sampling weight, which corrects for unequal probability of selection based on household size, and the poststratification weight, which corrects for sampling and nonresponse error. Poststratification weights use economy-level population statistics on gender and age and, where reliable data are available, education or socioeconomic status. Regional population weights are used to calculate regional aggregates.

Full report, including methodology and interview procedures, data preparation, margin of error and notes by country are all available under Methodology Table A.1 here: https://www.worldbank.org/en/publication/globalfindex/Report

2024-07-29

World Bank

Not applicable

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