Financial inclusion expands in Latin America as gaps in access persist

Seven in ten people aged 15 and over in Latin America and the Caribbean had a financial account in 2024, up from four in ten in 2011, according to the World Bank’s Global Findex survey. The gains were uneven. Account ownership reached 86% in Brazil and 82% in Argentina, compared with 53% in Mexico and 38% in Guatemala.

More shoppers pay digitally
The share of people who paid a merchant digitally rose from 37% in 2021 to 43% in 2024. Over the same period, the broader share who made or received any digital payment held at about 59%. Digital payments became more common at shops and other businesses, while the overall share of people using digital payments changed little.

Brazil’s Pix system shows how a financial account can become more useful for everyday purchases. Customers can scan a QR code to pay from an account at a participating bank or payment provider. The merchant receives the money within seconds, including at weekends and on public holidays.

Lower-income households face the widest gaps
About 60% of people in the poorest 40% of households had a financial account in 2024, compared with 76% in the wealthiest 60%. Digital payments showed a similar divide. About 49% of people in the lower-income group made or received one, compared with 66% in the higher-income group. Account ownership was also lower among women than men, at about 66% and 74% respectively.

Formal saving made a larger gain. The share who saved money using a financial account rose from about 18% in 2021 to 29% in 2024. Yet only about 39% of people in the poorest 40% of households said they could raise extra money within 30 days without difficulty, compared with 55% across the region. As account ownership grows, the ability to cover an unexpected expense remains a measure of how far financial inclusion has improved people’s lives.

Newshub Editorial in Latin America – 6 November 2026