It's important when participating in this conversation to understand who the underbanked are. And alarmingly, according to the 2011 FDIC National Survey of Unbanked and Underbanked Households, they are 1 in 5 households in the U.S. (20.1 percent).
The regulatory framework for financial institutions in the United States, including many provisions of Dodd-Frank, impose significant costs on community banks without providing benefits to consumers or the economy that justify those costs.
The bank account as the central money management tool is simply not relevant for many low income people. If we want to assist people in their efforts to be competent money managers, what is the best mix of services?
Suggesting that America's savings problem be solved by establishing an Eva Peron-style lottery incentivizing those with little to save doesn't understand the dynamics at play in the American economy today.