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in the United States ban general corporations from accepting banker's deposits, which covers any service where a general corporation acts as a funds drawee that transfers current funds (i.e., credit payable upon demand) to make payments as a substitute for coins on behalf of an account holder.
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tend to include a license to conduct the banking business as part of the standard terms of the corporate franchise in the state bank charters of incorporation. The license may be implied by a reference in the charter application to the bank being created "under" the state banking law. Federal
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Licenses are typically issued by a national banking regulator to applicant corporations that meet its banking requirements. The requirements may include minimum capital requirements, minimum number of directors, residence of shareholders, spread of shareholdings, disclosure of beneficial
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The granting of the license may involve a long, complex and expensive procedure, which may depend on the type of bank license being sought. There are a number of sectors in which banks may be involved. The general bank license allows a bank to engage in all banking activities, such as
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shareholders, besides other matters. These requirements may differ between jurisdictions, and may differ depending on the type of license being sought. Some jurisdictions, sometimes called
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is that bankers credit sometimes interferes with the regulation of the value of coins, and therefore it is necessary and proper to make laws which regulate banking.
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derive their authority from federal statutory charter law. Opening or operating a bank also requires regulatory compliance, which may include
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Historically, in some states, this ban did not extend to a sole proprietor acting as a banker.
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One argument for justifying the policy of requiring banking licenses under the
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for general banking activities, such as taking deposits from the general public
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301:(offshore banking licenses), which prohibits any local business activities
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in
Commonwealth spelling) before it is legally permitted to carry on a
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services, such as trust department services, or acting as a
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103:. Unsourced material may be challenged and removed.
188:The examples and perspective in this article
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408:If a bank wishes to perform any substantial
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244:Learn how and when to remove this message
226:Learn how and when to remove this message
163:Learn how and when to remove this message
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341:, merchant acquiring, cash management,
399:Federal Deposit Insurance Corporation
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208:create a new article
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52:improve it
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