A study by IFC managed agencies has found that only 14 percent of workers in the 16 billion US dollar industry had formal bank accounts and receive their salaries in cash.
They often end up in financial trouble before their next pay day.
The study suggests that the banks willing to bring services to the garment workers need to offer them at an affordable price and after work hours.
"Making financial services accessible and affordable to the marginalized is an IFC priority, Kyle Kelhofer, IFC country manager in Bangladesh said.
Factories should also explain to workers the benefits of managing their finances through banks, the report has suggested..