11/07/2008
Draft FDIC Household Survey of the Unbanked and Underbanked
Introduction
May I please speak to someone who participates in making financial decisions in your household.
Note to interviewer: Return to the household if the person who participates in making financial decisions is not available.
I’d like to ask you some questions about household finances.
1. Do you or does anyone in your household currently have a checking or savings account?
Yes
No
DK/Refused (TERMINATE)
1b. Which of the following best describes your household’s finances? (Read Responses 1-3)
The adults have shared finances (CONTINUE)
The adults have some shared finances and some separate finances (CONTINUE)
The adults have separate finances even though we share living space(IF Q1 YES, SKIP TO Q14, IF Q1 IS No, SKIP TO Q3)
I am the only adult in the household –volunteered (IF Q1 YES, SKIP TO Q14, IF Q1 IS No, SKIP TO Q3)
DK/Refused (CONTINUE)
2. How much do you participate in making financial decisions for your household, a lot, some or not at all?
A lot (CONTINUE)
Some (CONTINUE)
Not at all (TERMINATE)
DK/Refused (TERMINATE)
If the household is “banked” (Yes to Q1) then skip to Q14, otherwise continue to Q3. The survey will not be administered to individuals who do not participate in financial decision making. The survey will terminate here if the interviewee responds that they do not at all participate, or do not know whether they participate, in household financial decisions.
3. Have you or anyone in your household ever had a checking or savings account?
Yes (CONTINUE)
No (SKIP TO INTRO Q7B)
DK/Refused (SKIP TO INTRO Q7B)
Q4-Q6 and Q7a, Q8a, Q9a, and Q10a are asked to those households that were previously banked, but closed their deposit account with a mainstream financial institution.
4. When was the last time you or anyone in your household had a checking or savings account, was it – within the last year or more than 1 year ago?
Within the last year (CONTINUE)
More than 1 year ago (CONTINUE)
DK/Refused (CONTINUE)
5. Are you or anyone else in your household in the process of opening a new checking or savings account within the next few weeks?
Yes (BANKED, IN TRANSITION GO TO Q14)
No (CONTINUE)
DK/Refused (CONTINUE)
6. Who made the decision to close the account?
I, or someone in my household, closed the account (CONTINUE)
The bank closed the account (SKIP TO Q11)
DK/Refused (SKIP TO Q11)
7a.Some people close their bank accounts mostly for reasons relating to customer service. Are any of the following reasons why the account was closed?
(Read responses 1 through 6) (CHECK ALL THAT APPLY)
The bank had inconvenient hours
The bank was too far from home or work
There was a language barrier at the bank
The bank did not feel welcoming or comfortable
The bank did not offer needed basic services like check cashing, OR
Was there some other reason? (Specify)
None of the preceding reasons (Volunteered)
DK/Refused
8a.Some people close their bank accounts mostly for financial reasons. Was the account closed for any of the following reasons?
(Read responses 1 through 6) (CHECK ALL THAT APPLY)
The minimum balance requirement of the bank account was too high
The service charges of the bank account were too high
Did not have enough money to need a bank account
Bounced too many checks or had too many overdrafts
The bank took too long to clear checks, OR
Was there some other reason? (Specify)
None of the preceding reasons (Vol.)
DK/Refused
9a.Some people close their checking or savings accounts for other reasons. Was the account closed for any of the following reasons?
(Read responses 1 through 5) (CHECK ALL THAT APPLY)
Did not write enough checks to make it worthwhile to have a bank account
Could not manage or balance the bank account
Did not need or want a bank account
Didn’t trust banks, OR
Was there some other reason?(specify)
None of the preceding reasons (Vol.)
DK/Refused
10a.You said that the main reasons for closing the bank account were __________ (Insert response for Q7a, Q8a and Q9a only responses 1 through 5 or 6). Which of these was the number one reason for closing the account? (ALL RESPONDENTS SKIP TO Q11 AFTER ANSWERING Q10A)
The bank had inconvenient hours
The bank was too far from home or work
There was a language barrier at the bank
Didn’t trust banks
The bank did not feel comfortable or welcoming
The minimum balance requirement of the bank account was too high
The service charges of the bank account were too high
Did not have enough money to need a bank account
Bounced too many checks or had too many overdrafts
The bank took too long to clear checks
Did not write enough checks to make it worthwhile to have a bank account
Could not manage or balance the bank account
Did not need or want a bank account
The bank did not offer needed basic services like check cashing
None of these
Could not pick a single reason
DK/Refused
Q7b, Q8b, Q9b, and Q10b relate to reasons why the household has never had an account in a mainstream financial institution.
7b.Some people do not have a bank account for reasons relating to customer service. Are any of the following reasons why no one in your household has a bank account?
(Read responses 1 through 6) (CHECK ALL THAT APPLY)
Banks have inconvenient hours
There is no bank near home or work
There are language barriers at banks
Banks do not feel comfortable or welcoming
Banks do not offer needed basic services like check cashing, OR
Was there some other reason? (specify)
None of the preceding reasons (Vol.)
DK/Refused
8b.Some people do not have a bank account for financial reasons. Are any of the following reasons why neither you or anyone in your household has a bank account?
(Read responses 1 through 7) (CHECK ALL THAT APPLY)
The minimum balance requirement of bank accounts is too high
The service charges of bank accounts are too high
Bounced too many checks or had too many overdrafts
Banks take too long to clear checks
Do not have enough money to need a bank account
Credit problems, OR
Was there some other reason?(specify)
None of the preceding reasons (Vol.)
DK/Refused
9b.Some people do not have checking or savings accounts for other reasons. Are any of the following reasons why neither you or anyone in your household has a bank account?
(Read responses 1 through 7) (CHECK ALL THAT APPLY)
Do not write enough checks to make it worthwhile to have a bank account
Could not manage or balance a bank account
Do not trust banks
Do not have the proper documents to open a bank account
Do not know how to open a bank account
Do not see the value of having a bank account, OR
Was there some other reason? (specify)
None of the preceding reasons (Vol.)
DK/Refused
10b.You said that the main reasons for not having a bank account are __________ (Insert response for Q7b, Q8b and Q9b only responses 1 through 6). Which of these was the number one reason for not having an account?
The banks have inconvenient hours
There is no bank near home or work
There are language barriers at banks
Do not trust banks
Banks do not feel comfortable or welcoming
The minimum balance requirement of bank accounts is too high
The service charges of bank accounts are too high
Do not have enough money to need a bank account
Do not write enough checks to make it worthwhile to have a bank account
Could not manage or balance a bank account
Do not have the proper documents to open a bank account
Do not know how to open a bank account
Banks do not offer needed basic services like check cashing
Credit problems
Do not see the value of having a bank account
None of these
Could not pick a single reason
DK/Refused
Q11-Q13 apply to all unbanked households.
11. How likely is it that you or anyone in your household will open a bank account in the future – very likely, somewhat likely, not too likely, or not likely at all?
Very likely (CONTINUE)
Somewhat likely (SKIP TO Q14)
Not too likely (SKIP TO Q14)
Not likely at all (SKIP TO Q14)
DK/Refused (SKIP TO Q14)
12. What is the main reason why you or someone in your household plan to open a bank account?
(Read responses 1 through 6)
To secure money
To be able to write checks and pay bills
To be able to apply for a loan or mortgage
To save money for the future
To take advantage of direct deposit of paychecks
To send money to family and friends
Other (Specify)
DK/Refused
13. When is this planed to occur – within the next year or a year or more from now?
Within the next year
A year or more from now
DK/Refused
Q14- Q31 apply to all households, regardless of their banking status.
14. Have you or anyone in your household ever gone to a place other than a bank, a savings and loan or a credit union to cash a check that was received from someone else?
Yes (CONTINUE)
No (SKIP TO Q17)
DK/Refused (SKIP TO Q17)
15. How often do you or anyone in your household cash a check received from someone else at a place other than a bank? (Read responses 1 through 3)
At least a few times a year
Once or twice a year
Almost never
DK/Refused
16. What is the main reason for cashing a check received from someone else at a place other than a bank? (Read responses 1 through 6)
Don’t have a bank account
To get money faster
The place is more convenient
A bank charges more to cash checks
The place to cash checks asks for fewer id’s.
Feel more comfortable than at a bank
Other (Specify)
DK/Refused
17. Have you or anyone in your household ever purchased a money order at a place other than a bank, a savings and loan or a credit union?
Yes (CONTINUE)
No (SKIP TO Q20)
DK/Refused (SKIP TO Q20)
18. How often do you or anyone else in your household purchase money orders at a place other than a bank, a savings and loan or a credit union? (Read responses 1 through 3)
At least a few times a year
Once or twice a year
Almost never
DK/Refused
19. What is the main reason for purchasing money orders at a place other than a bank? (Read responses 1 through 4)
Banks do not sell money orders
The place to purchase money orders is more convenient than a bank
Banks charge more for money orders
The place feels more comfortable than a bank
Other (Specify)
DK/Refused
20. Have you or anyone in your household ever used payday loan or payday advance services?
Yes (CONTINUE)
No (SKIP TO Q23)
DK/Refused (SKIP TO Q23)
21. How many times in the last 12 months did you or anyone in your household use payday loan or payday advance services? In answering this question, please count a rollover of a payday loan as a new loan and also count using a new payday loan to pay off an old one, as a separate new loan.
(Input actual number)
__________times in a year
DK/Refused
22. What is the main reason for using payday loan or payday advance services rather than a bank? (Read responses 1 through 4)
The payday loan service is more convenient
It is easier to get a payday loan than to qualify for a bank loan
A payday loan service feels more comfortable than using a bank
Don’t qualify for a bank loan
Other (Specify)
DK/Refused
23. Have you or anyone in your household ever sold items at a pawn shop?
Yes (CONTINUE)
No (SKIP TO Q26)
DK/Refused (SKIP TO Q26)
24. How often do you or anyone in your household sell items at pawn shops? (Read responses 1 through 3)
At least a few times a year
Once or twice a year
Almost never
DK/Refused
25. What is the main reason for doing business at pawn shops as opposed to a bank, a savings and loan or a credit union? (Read responses 1 through 5)
Banks don’t have small loans
The pawn shop service is more convenient
It is easier to get money from a pawn shop than to qualify for a bank loan
More comfortable at a pawn shop than at a bank
Don’t qualify for a bank loan
Other (Specify)
DK/Refused
26. In the past five years, have you or anyone in your household taken out a tax refund anticipation loan?
Yes
No
Dk/ref
27. Have you or anyone in your household ever rented or leased anything from a rent-to-own store because it couldn’t be financed any other way?
Yes
No
Dk/ref
28. How many times did you or anyone in your household do business at a rent-to-own store? (read responses 1-3)
At least a few times a year
Once or twice a year
Almost never
DK/Refused
29. What was the main reason these loans or rent-to –own credit agreements were needed over the past 12 months? Was it:
(Read responses 1 through 7) (Note to Interviewer: We want to know what they used the money for.)
To make up for lost income
For basic living expenses
For house repairs or to buy an appliance
For medical expenses
For car repairs
For school or childcare expenses
For special gifts or luxuries
Other (Volunteered Specify:________________________________________)
DK/Refused
Q29 is only asked if respondent answered yes to Q20, Q23, Q26 or Q27
30. Do you or anyone in your household receive payment for wages by having the employer deposit the salary onto a payroll card instead of paying via cash or check?
Yes
No
Refuse
Now I have a question about pre-paid debit cards that may have logos such as MasterCard, VISA, Discover or American Express. You can keep adding money onto this card and use it to make purchases and pay bills anywhere credit cards are accepted or withdraw the cash from an ATM. We are not talking about phone cards, gift cards for a particular store or service or cards that you cannot add more funds onto.
31. Have you or anyone in your household ever used pre-paid cards such as those we have described?
Yes
No
DK/Refuse
| File Type | application/msword |
| File Title | BENDIXEN & ASSOCIATES |
| Author | Sergio |
| Last Modified By | smith056 |
| File Modified | 2008-11-13 |
| File Created | 2008-11-13 |