Banking licence

Definition

A permit from the financial supervisor to carry out banking activity.

What it means in practice

A holder of a banking licence is under strict supervision, and its deposits are covered by the deposit guarantee.

Why it affects your choice

It confirms that a product is run by a real bank (not an EMI) — with the deposit protection that follows.

Watch out

No banking licence does not mean a product is "bad" — many good products are EMIs. In that case, money is protected differently (safeguarding, not a guarantee).

WTP Finance is for information only; we do not give financial advice.