group banking

noun

Definition of group banking 

: a system of control over two or more commercial banks by a holding company

Love words?

You must — there are over 200,000 words in our free online dictionary, but you are looking for one that’s only in the Merriam-Webster Unabridged Dictionary.

Start your free trial today and get unlimited access to America's largest dictionary, with:

  • More than 250,000 words that aren't in our free dictionary
  • Expanded definitions, etymologies, and usage notes
  • Advanced search features
  • Ad free!

Learn More about group banking

Share group banking

Statistics for group banking

Look-up Popularity

Keep scrolling for more

More Definitions for group banking

group banking

noun

Financial Definition of group banking

What It Is

Group banking is offered by some banks to incentivize a whole group of people, like employees of a company, to have a relationship with the banking institution.

How It Works

A bank may team up with a large employer and offer its employees special benefits if they open an account with direct deposit. To entice a large number of employees to sign up as new customers, the bank may offer lower rates on CDs, home equity loans, mortgages or other financial products.

Why It Matters

Group banking members may have access to lower interest rates, lower fees, discounts and other perks not available to regular account holders. Group banking can also provide a more personalized banking relationship for the members if the bank designates one representative, who is generally more knowledgeable about the group's needs, as the point of contact for all the members of the group.

Source: Investing Answers

Comments on group banking

What made you want to look up group banking? Please tell us where you read or heard it (including the quote, if possible).

WORD OF THE DAY

required by fashion, etiquette, or custom

Get Word of the Day daily email!

Test Your Vocabulary

Great Scrabble Words—A Quiz

  • scrabble-tiles-that-read-scrabble-quiz
  • Which of the following Q-without-U words means the number five in cards or dice?
Name That Thing

Test your visual vocabulary with our 10-question challenge!

TAKE THE QUIZ
SCRABBLE® Sprint

Test Your Knowledge - and learn some interesting things along the way.

TAKE THE QUIZ

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!