Regulated activity

Taking deposits from the public

Only a credit institution may accept repayable funds and deposits from the public, under CRD Article 9 and Annex I (1), and that means a full banking licence. EU banks need EUR 5 million of initial capital under CRD Article 12. Authorisation brings an EEA passport and mandatory deposit guarantee scheme coverage.

Last verified 2026-09-24Markdown · Data (CC BY 4.0)
Taking deposits from the public: regulated activityCRD

Definition

Accepting deposits or other repayable funds from the public, the activity reserved to credit institutions.

Which licence you need

Licence families that typically permit this activity:

Where it can be licensed

Jurisdictions where taking deposits from the public can be licensedCzech RepublicEstoniaGeorgiaGermanyIrelandLatviaLithuaniaLuxembourgNetherlandsPolandSlovakiaSpainSwitzerlandUnited Arab EmiratesAbu Dhabi Global Market (ADGM)BermudaCayman IslandsDubai International Financial Centre (DIFC)MaltaSingapore
Licences in the Atlas that permit this activity
EU/EEA passportDomestic
Abu Dhabi Global Market (ADGM): Financial Services Permission for Accepting Deposits✓
Bermuda: Banking Licence / Deposit Company Licence / Restricted Banking Licence✓
Cayman Islands: Bank Licence✓
Czech Republic: Commercial Bank licence✓
Dubai International Financial Centre (DIFC): Bank licence✓
Estonia: Credit institution authorisation (bank)✓
Georgia: Commercial bank licence✓
Germany: CRR)✓
Ireland: Banking Licence✓
Latvia: Credit institution licence (bank)✓
Lithuania: Specialised bank licence✓
Lithuania: Bank licence✓
Luxembourg: Credit institution authorisation✓
Malta: Credit institution licence✓
Netherlands: Bank licence✓
Poland: Commercial Bank licence✓
Singapore: Banking Licence✓
Slovakia: Banking licence✓
Spain: Commercial bank licence✓
Switzerland: FinTech licence (Persons✓
Switzerland: Banking licence✓
United Arab Emirates: Commercial Bank Licence✓

Frequently asked questions

Can fintechs accept customer deposits without a banking licence?

No. A non-bank fintech cannot accept repayable deposits from the public. An EMI or payment institution may hold client funds only for payment execution or prepaid e-money, cannot lend or co-mingle that money, and gets no statutory deposit guarantee scheme cover for it.

How does the European Central Bank oversee banking licences?

In the eurozone, the European Central Bank grants every banking authorisation jointly with the national competent authority, under the Single Supervisory Mechanism. It reviews shareholder suitability, capital adequacy, risk governance and whether the applicant's business model can actually work.

Last verified 2026-09-24Author Danil Marmysh, Founder & CEO, ProtegraReviewed by Anastasia Sidorenkova, Head of Licensing, ProtegraReport an errorReference information, not legal advice.

Sources

  1. CRD Art. 9 and Annex I (1) · retrieved 2026-09-24

Planning taking deposits from the public? Get the licence right first

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