# Bank Charter

*Banking & Payments — Finicade finance glossary*

A bank charter is the licence to take deposits and call yourself a bank, granted by a regulator against capital, governance and business plan requirements. Obtaining one takes years and substantial capital, which is why most fintechs rent access to someone else's instead. The charter is what brings deposit insurance and central bank access, and also what brings full supervision.

**Also known as:** banking licence, banking license, chartered bank

**Related terms:** [Neobank](https://finicade.com/glossary/neobank), [Banking as a Service](https://finicade.com/glossary/banking-as-a-service), [Deposit Insurance](https://finicade.com/glossary/deposit-insurance), [Commercial Bank](https://finicade.com/glossary/commercial-bank), [SEC](https://finicade.com/glossary/sec)

Source: https://finicade.com/glossary/bank-charter