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.
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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/