national bank

noun

1. a bank chartered by the U.S. government and formerly authorized to issue notes that served as money.
2. a bank owned and administered by the government, as in some European countries.

national bank

noun

1. (in the US) a commercial bank incorporated under a Federal charter and legally required to be a member of the Federal Reserve System Compare state bank
2. a bank owned and operated by a government

Word History and Origins

Origin of national bank¹

An Americanism dating back to 1780–90

Example Sentences

She suggests using local credit unions instead of major national banks.

From Salon

“Corrie without Gail is…incomprehensible. Surely this calls for a national bank holiday?” one user asked.

From Los Angeles Times

Gone are the most extreme privatization plans that would have sold off Argentina’s national bank and largest oil company.

From Seattle Times

In February, the Office of the Comptroller of the Currency, one of the regulators of big national banks like Wells Fargo, terminated a consent order that had been in place since September 2016.

From Seattle Times

If the issuing bank is local, or if it is a national bank with a local branch, then you can take the check to the issuing bank and cash it.

From Encyclopedia.com