When is a bank not a bank?
One of the most frequent questions we get asked is whether Move-and-Bank is a bank or not. Well, let’s just set the record straight. From a regulatory perspective, we don’t have a banking charter (some call this a banking license), so we’re technically not a bank. We don’t have a charter because it gets incredibly complicated and expensive, which is the reason hardly any new banks have launched globally in the last few decades. Keep reading