Dictionary of Banking Terms: limited service bank
limited service bank
- banking facility in a unit banking state that is located away from the bank's main office. These offices may accept deposits, but do not make loans or offer trust services.
- bank that is limited by charter or by regulation to offering only certain services to the public. Limited service banks have narrow product lines, such as credit cards or auto loans, and may offer other services on an irregular basis. See also limited purpose trust company; nonbank bank.
