It really isn't the same:
> An estimated 5.4 percent of U.S. households (approximately 7.1 million) were “unbanked” in 2019, meaning that no one in the household had a checking or savings account at a bank or credit union (i.e., bank).
From https://www.fdic.gov/analysis/household-survey/index.html
And that figure is only for entire households, there are more unbanked individuals, and it is very common for households to have adults that don't have any utilities in their name.
OTOH, a mailed notification only presupposes that an individual is on the rolls.