Who is banked in low income families? The effects of gender and bargaining power

We use data from the U.S. Survey of Consumer Finances and a framework that accounts for intrahousehold dynamics to examine bank account ownership for low-income couples. We find that even among families who are banked, some family members are not. Those without accounts may lack access to financial services, be at a disadvantage within their families, or face financial risks if their partnerships end. Our results indicate that men and women are equally likely to be banked, but the factors predicting whether or not they have accounts differ. Women with more bargaining power are more likely to hold bank accounts and their families are more likely to be banked. Moreover, individual characteristics of male and the female partners have different effects on the chances that they, their partners, or their families are banked.