Q: In an age when banking is possible by smartphone, what causes many Oklahomans to turn their backs on banks?

A: Banking has never been easier, but that is not enough to convince thousands of Oklahomans to park their cash in even a simple checking account.

Oklahoma has one of the highest percentages of unbanked and underbanked households in the nation, at 34 percent, according to a 2011 survey by the Federal Deposit Insurance Corporation. About 11 percent are unbanked.

Unbanked refers to having no checking or savings account. The underbanked have a checking or savings account but, like many of the unbanked, use  “alternative financial services” such as non-bank money orders or payday loans.

Experts track the groups to measure how many people are alienated from the mainstream financial system, which is the gateway to building savings and often the cheapest, most secure way to make transactions. People with little or no relationship to banking are less likely to save or own assets such as a house or car. They also are more likely to spend too much on fees for services such as check cashing, experts say.

Lack of banking is most prevalent among low-income and minority groups. In Oklahoma, more than one-third of African-American households, and nearly four in 10 Hispanic ones, are unbanked, according to the FDIC survey.

People shun banking for various reasons. They may believe they don’t have enough money to get a checking or savings account. They may feel they don’t need or want an account.

Some are afraid to open an account because they had bad experiences with banking fees. Others may lack the identification requirements to open one.

The unbanked and underbanked often seek out faster, more expensive services, such as pawn shops, tax-refund-based loans and prepaid debit cards.

People use unconventional services because they meet certain needs, said Tammy Edwards, vice president of community development at the Federal Reserve Bank of Kansas City. Consumers like having a one-stop place, quick cash and convenient locations and hours of operation, she said.

Profile of the Unbanked and UnderbankedOklahoma has the ninth highest share of unbanked and underbanked households in the nation, according to the Federal Insurance Deposit Corporation. The agency’s 2011 survey also broke down each state’s numbers by racial group, income and age ranges, and household type. Here are percentages of Oklahoma households that are unbanked and underbanked by category, with a sampling of groups:OverallAll households: 34%By RaceAfrican-Americans: 62%Hispanics: 71%White: 27%By IncomeLess than $15,000: 54%$50,000 to $75,000: 20%By Age15 to 34: 49%65 or older: 17%By Household TypeFemale householder, no husband present: 53%Married couple: 29%

Edwards said many families avoid banks because they get wrong information from friends and relatives.

“If that information was incorrect or incomplete, that was what they used to make their decisions,” she said, stressing that financial education is important for all consumers. “The more information you have about financial matters, the better financial decisions you’ll make.”

Regardless of an individual’s income or background, she said, “it’s important to have a relationship with a bank, even if it is for a savings account.” Being banked with a regulated financial institution allows individuals to save, have access to fair credit and to invest, such as making payments on a house to build equity. Banks also guarantee the safety of deposits.

“Given what has happened to Oklahoma (with tornadoes wiping out homes and possessions) in the last few weeks, I would hope that those who don’t have a relationship with a financial institution, they would see the importance of one,” Edwards said.

The number of unbanked households in Oklahoma increased from 2009 to 2011, according to the surveys. However, Oklahoma City and Tulsa saw a drop, Edwards said, meaning outreach efforts need to focus on rural areas.

Bank On, an organization with more than 70 programs nationwide, is one way to address the problem, Edwards said. However, Bank On is not in Oklahoma. The group attempts to create partnerships among financial institutions, community-based groups and local and state governments to help those underserved by banks. Programs are offered at the city, county or state level, providing resources such as free or low-cost accounts and financial education.

Edwards said Colorado established Bank On Denver in 2009, when about 9 percent of Denver’s residents were unbanked. The group targeted minority populations, offering products and education tailored to the underserved demographic. In 2011, that number dropped to 5.2 percent.

“We think that the key reason was the launch of the Bank On campaign,” Edwards said. “I have no reason to believe it couldn’t be replicated in Oklahoma.”

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