Definition

Relating to activities or services that are not part of the traditional banking system.

Example

Many nonbanking financial institutions offer loans and investment services.

Conversation

Have you heard about the new nonbanking services available now?

Yeah, I saw an ad for them. They seem really convenient!

I think they could change how we handle our money.

Definitely! It's nice to have options outside of traditional banking.

Synonyms & Antonyms

Root Explanation

Nonbanking → It is formed from "non-" (meaning not) and "banking" (from the word "bank", which comes from Old Italian "banca", meaning a bench or table used for money exchange). The term "nonbanking" refers to activities or entities that are not related to traditional banking services.

Memory Tip

Think of 'non-' meaning 'not' to remember that 'nonbanking' refers to things that are not related to banks.

Visually Confused Words