# Taking deposits from the public

Source page: https://protegra.io/licensing/activities/deposit-taking/

Accepting repayable funds and deposits from the public is strictly reserved to credit institutions, requiring a full banking licence under CRD Article 9 and Annex I (1). In the European Union, bank initial capital EUR 5 million is required under CRD Article 12, granting passporting rights throughout the EEA and mandatory deposit guarantee scheme coverage.

## Definition

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

- CRD, Art. 9 and Annex I (1): [official text](https://eur-lex.europa.eu/eli/dir/2013/36/oj)

## Which licence you need

Licence families that typically permit this activity:

- [Bank / credit institution](https://protegra.io/licensing/licences/bank/)

- [Bank · Abu Dhabi Global Market (ADGM)Financial Services Permission for Accepting Deposits (Category 1 Commercial Bank)FSRA](https://protegra.io/licensing/licences/bank/adgm/)
- [Bank · BermudaBanking Licence / Deposit Company Licence / Restricted Banking Licence (Banks and Deposit Companies Act 1999)BMA](https://protegra.io/licensing/licences/bank/bermuda/)
- [Bank · Cayman IslandsBank Licence (Category A and Category B) under the Banks and Trust Companies ActCIMA](https://protegra.io/licensing/licences/bank/cayman-islands/)
- [Bank · Czech RepublicCommercial Bank licence (bankovní licence)CNB](https://protegra.io/licensing/licences/bank/czech-republic/)
- [Bank · Dubai International Financial Centre (DIFC)Financial Services Permission for Accepting Deposits or Providing Credit (Category 1 Commercial Bank)DFSA](https://protegra.io/licensing/licences/bank/difc/)
- [Bank · EstoniaCredit institution authorisation (bank)FI](https://protegra.io/licensing/licences/bank/estonia/)
- [Bank · GeorgiaCommercial bank licenceNBG](https://protegra.io/licensing/licences/bank/georgia/)
- [Bank · GermanyCredit institution licence (Erlaubnis zum Betreiben von Bankgeschäften nach § 32 KWG / CRR)BaFin](https://protegra.io/licensing/licences/bank/germany/)
- [Bank · IrelandBanking Licence (Section 9 Central Bank Act 1971)CBI](https://protegra.io/licensing/licences/bank/ireland/)
- [Bank · LatviaCredit institution licence (bank)LB](https://protegra.io/licensing/licences/bank/latvia/)
- [Bank · LithuaniaSpecialised bank licenceLB](https://protegra.io/licensing/licences/bank/lithuania-specialised/)
- [Bank · LithuaniaBank licenceLB](https://protegra.io/licensing/licences/bank/lithuania/)
- [Bank · LuxembourgCredit institution authorisationCSSF](https://protegra.io/licensing/licences/bank/luxembourg/)
- [Bank · MaltaCredit institution licenceMFSA](https://protegra.io/licensing/licences/bank/malta/)
- [Bank · NetherlandsBank licence (Vergunning bank / kredietinstelling)DNB](https://protegra.io/licensing/licences/bank/netherlands/)
- [Bank · PolandCommercial Bank licence (bank krajowy w formie spółki akcyjnej)KNF](https://protegra.io/licensing/licences/bank/poland/)
- [Bank · SingaporeBanking Licence (Full Bank, Wholesale Bank, Digital Bank)MAS](https://protegra.io/licensing/licences/bank/singapore/)
- [Bank · SlovakiaBanking licence (bankové povolenie)NBS](https://protegra.io/licensing/licences/bank/slovakia/)
- [Bank · SpainEntidad de crédito (Banco) / Commercial bank licenceBdE](https://protegra.io/licensing/licences/bank/spain/)
- [Bank · SwitzerlandFinTech licence (Persons pursuant to Article 1b Banking Act / FinTech-Bewilligung nach Art. 1b BankG)FINMA](https://protegra.io/licensing/licences/bank/switzerland-fintech/)
- [Bank · SwitzerlandBanking licence (Bankbewilligung nach Art. 3 BankG)FINMA](https://protegra.io/licensing/licences/bank/switzerland/)
- [Bank · United Arab EmiratesCommercial Bank LicenceCBUAE](https://protegra.io/licensing/licences/bank/uae-commercial/)

## Where it can be licensed

| | EU/EEA passport | Domestic |
| --- | --- | --- |
| [Abu Dhabi Global Market (ADGM): Financial Services Permission for Accepting Deposits (Category 1 Commercial Bank)](https://protegra.io/licensing/licences/bank/adgm/) | | ✓ |
| [Bermuda: Banking Licence / Deposit Company Licence / Restricted Banking Licence (Banks and Deposit Companies Act 1999)](https://protegra.io/licensing/licences/bank/bermuda/) | | ✓ |
| [Cayman Islands: Bank Licence (Category A and Category B) under the Banks and Trust Companies Act](https://protegra.io/licensing/licences/bank/cayman-islands/) | | ✓ |
| [Czech Republic: Commercial Bank licence (bankovní licence)](https://protegra.io/licensing/licences/bank/czech-republic/) | ✓ | |
| [Dubai International Financial Centre (DIFC): Financial Services Permission for Accepting Deposits or Providing Credit (Category 1 Commercial Bank)](https://protegra.io/licensing/licences/bank/difc/) | | ✓ |
| [Estonia: Credit institution authorisation (bank)](https://protegra.io/licensing/licences/bank/estonia/) | ✓ | |
| [Georgia: Commercial bank licence](https://protegra.io/licensing/licences/bank/georgia/) | | ✓ |
| [Germany: Credit institution licence (Erlaubnis zum Betreiben von Bankgeschäften nach § 32 KWG / CRR)](https://protegra.io/licensing/licences/bank/germany/) | ✓ | |
| [Ireland: Banking Licence (Section 9 Central Bank Act 1971)](https://protegra.io/licensing/licences/bank/ireland/) | ✓ | |
| [Latvia: Credit institution licence (bank)](https://protegra.io/licensing/licences/bank/latvia/) | ✓ | |
| [Lithuania: Specialised bank licence](https://protegra.io/licensing/licences/bank/lithuania-specialised/) | ✓ | |
| [Lithuania: Bank licence](https://protegra.io/licensing/licences/bank/lithuania/) | ✓ | |
| [Luxembourg: Credit institution authorisation](https://protegra.io/licensing/licences/bank/luxembourg/) | ✓ | |
| [Malta: Credit institution licence](https://protegra.io/licensing/licences/bank/malta/) | ✓ | |
| [Netherlands: Bank licence (Vergunning bank / kredietinstelling)](https://protegra.io/licensing/licences/bank/netherlands/) | ✓ | |
| [Poland: Commercial Bank licence (bank krajowy w formie spółki akcyjnej)](https://protegra.io/licensing/licences/bank/poland/) | ✓ | |
| [Singapore: Banking Licence (Full Bank, Wholesale Bank, Digital Bank)](https://protegra.io/licensing/licences/bank/singapore/) | | ✓ |
| [Slovakia: Banking licence (bankové povolenie)](https://protegra.io/licensing/licences/bank/slovakia/) | ✓ | |
| [Spain: Entidad de crédito (Banco) / Commercial bank licence](https://protegra.io/licensing/licences/bank/spain/) | ✓ | |
| [Switzerland: FinTech licence (Persons pursuant to Article 1b Banking Act / FinTech-Bewilligung nach Art. 1b BankG)](https://protegra.io/licensing/licences/bank/switzerland-fintech/) | | ✓ |
| [Switzerland: Banking licence (Bankbewilligung nach Art. 3 BankG)](https://protegra.io/licensing/licences/bank/switzerland/) | | ✓ |
| [United Arab Emirates: Commercial Bank Licence](https://protegra.io/licensing/licences/bank/uae-commercial/) | | ✓ |

## Frequently asked questions

### Can fintechs accept customer deposits without a banking licence?

No, non-bank fintechs cannot accept repayable deposits from the public. EMIs and payment institutions may hold client funds solely for payment execution or prepaid e-money. These funds cannot be lent out or co-mingled, and are not covered by statutory deposit guarantee schemes.

### How does the European Central Bank oversee banking licences?

In the eurozone, the European Central Bank directly grants all banking authorisations alongside national competent authorities under the Single Supervisory Mechanism. The ECB reviews shareholder suitability, capital adequacy, risk governance and the viability of the applicant's business model.

## Sources

1. [CRD Art. 9 and Annex I (1)](https://eur-lex.europa.eu/eli/dir/2013/36/oj): retrieved 2026-09-24

Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.