A banking license is a prerequisite for a financial institution that wants to provide banking services. Under most jurisdictions the fundamental banking activities, such as taking deposits from the general public are exclusive to holders of a banking license.
However some banking services may be provided without meeting the legal definition of a bank, not holding a banking license. Such an institution is generally referred to as a non-bank.
A bankinglicense is a prerequisite for a financial institution that wants to provide banking services.
Under most jurisdictions the fundamental banking activities, such as taking deposits from the general public are exclusive to holders of a bankinglicense.
However some banking services may be provided without meeting the legal definition of a bank, not holding a bankinglicense.
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