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Greater Access to Banking Could Help Millions Living In Poverty

Chargebacks911® COO Advocates for Financial Inclusivity in New Forbes Feature

Monica Eaton-Cardone of Chargebacks911 is a long-time advocate of the financial inclusivity. In her latest guest feature for Forbes, she explains that some small steps toward this goal could have a massive impact.

Forbes Magazine has been one of America’s leading publications in business and finance for more than a century. Reaching millions of readers every day, the publication’s online digital platform stands as one of the business world’s most reliable sources of news, information, and expert insight.

“Between surcharges for cash or third-party payment options, short-term loans, lost productivity and transportation costs, not having a bank account can be very expensive over time,” Monica explains in the post. One recent study put the cost of lacking access to banking at roughly £500 per year in the UK. “In contrast, financial inclusivity can open doors for individuals, regardless of location or background.”

Monica suggests financial inclusion is a win-win. Consumers can take control of their financial lives while growing the economy and creating business. We have to make changes, though, to address the lack of access, financial literacy, and formal paperwork globally.

“Financial inclusion offers wide-ranging benefits for consumers and institutions. We need institutions to recognize that opportunity and choose to move on it, though; they have the initiative, so little can happen if they don’t take the first steps.”