Formal financial inclusion in Fiji has reached its highest level on record, with 87 per cent of adults now using formal financial services, according to the Reserve Bank of Fiji’s (RBF) 2025 Fiji Financial Services Demand Side Survey.
The survey shows significant progress over the past decade, with formal financial inclusion increasing from 64 per cent in 2014, to 81 per cent in 2020, and now 87 per cent in 2025.
The biggest gains have been recorded among people living with disabilities, where formal financial inclusion has risen by 10 percentage points to 91 per cent, and the self-employed, which increased by 14 percentage points to 97 per cent.
Despite the overall improvement, the survey highlights that financial exclusion remains highest among people living in the Northern Division (19 per cent), youths (16 per cent), and rural communities (15 per cent). Encouragingly, formal financial inclusion is now broadly equal between men and women.
However, the survey found that personal bank account ownership has fallen to 68 per cent, despite more people accessing formal financial services. Women (63 per cent), youths (63 per cent), and rural residents (61 per cent) are less likely to own bank accounts, with the gender gap widening to 10 percentage points.
One of the most notable changes has been the rapid adoption of mobile money accounts, which have surged from 7 per cent in 2014 and 17 per cent in 2020 to 67 per cent in 2025. Ownership is highest among people aged 36 to 55 years (77 per cent) and residents of the Central Division (72 per cent). Nearly three-quarters of banked Fijians also use mobile money services.
Digital banking has also become increasingly popular. The use of internet banking among banked customers has increased by 27 percentage points since 2020, with 38 per cent now using online banking services. Uptake is strongest among younger adults, those aged 36 to 55 years, and urban residents.
Insurance coverage, however, has remained unchanged, with only 14 per cent of Fijians holding an insurance policy. Awareness of climate-related insurance has almost doubled to 53 per cent, while adoption has quadrupled to 8 per cent since the previous survey.
The report also found that 74 per cent of Fijians have no outstanding loans or credit, while 10 per cent hold formal loans through financial institutions, mainly commercial banks. Informal borrowing, largely from family and friends, remains common.
Remittances continue to play a vital role in household finances. Forty-two per cent of Fijians receive remittances compared with 21 per cent who send them. Most remittances come from overseas and are transferred through formal channels such as mobile money (72 per cent) and money transfer services (23 per cent).
While access to financial services has improved, the survey paints a more challenging picture of household finances.
Only 39 per cent of respondents said they were always satisfied with their financial situation, while just 24 per cent believed they were on track to achieve their financial goals.
The survey found 33 per cent of Fijians are trapped in a cycle where their income does not meet their expenses, while 46 per cent say their income only matches their spending, leaving little or nothing to save.
Less than half of respondents reported saving money during the past year, and 61 per cent said they could cover living expenses for one month or less if they lost their main source of income.
Almost half (47 per cent) said they would need to borrow money from family or friends if faced with an unexpected financial emergency.
The findings suggest that while Fiji has made significant strides in expanding access to financial services and digital finance, improving household financial resilience and encouraging long-term savings remain major challenges.
