The self-reported barriers vary significantly across regions as well as by individual characteristics. Among adults without a formal account, those in Sub-Saharan Africa and Latin America and the Caribbean are the most likely to cite missing documentation as a reason for not having one. Those in Europe and Central Asia have the least trust in banks. Women tend to report using someone else’s account significantly more than do men, highlighting the challenges that women may encounter in account ownership. Adults who report having saved, but not using a formal account to do so, are significantly more likely to cite distance,.
