# Non-cash institution

- Canonical URL: https://www.gerhardmerk.de/non-cash-institution-2
- Post ID: 7991
- Modified: 2023-07-25T21:13:59+00:00
- Language: en

## Definition

A jargon, but unofficial, term for a bank from which a customer cannot withdraw cash from his or her account. Such companies are generally prohibited under Section 3 № 3 of the German Banking Act (KWG). It is irrelevant whether the business is conducted on a commercial basis or not. Nor is any scope of banking required to be conducted in a commercially established manner. In November 2012, the German Federal Financial Supervisory Authority published an explanatory fact sheet on all prohibited activities in the financial market. - See banking, non-cash, transactions, prohibited. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

## Machine-readable

- Generator: Merk Knowledge 1.1.1