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Key Takeaways. A chartered bank is a financial institution governed by a state or national charter that provides monetary transactions such as distributing loans or protecting deposits. Chartered banks can be issued by the state or federal government.

Definitions of bank charter. a charter authorizing the operation of a bank. type of: charter. a document incorporating an institution and specifying its rights; includes the articles of incorporation and the certificate of incorporation.

Jackson, the epitome of the frontiersman, resented the bank's lack of funding for expansion into the unsettled Western territories. Jackson also objected to the bank's unusual political and economic power and to the lack of congressional oversight over its business dealings.

What is a Chartered Bank? A chartered bank basically refers to any financial institution vested with the power to accept and protect monetary deposits from person and other organizations, and also permitted to lend these money out as loan.

Definitions of bank charter. a charter authorizing the operation of a bank. type of: charter. a document incorporating an institution and specifying its rights; includes the articles of incorporation and the certificate of incorporation.

Chartered bank specifics vary from country to country. However, in general, a chartered bank in operation has obtained a form of government permission to do business in the financial services industry. A chartered bank is often associated with a commercial bank.

Jackson's distrust of the Bank was also political, based on a belief that a federal institution such as the Bank trampled on states' rights. In addition, he felt that the Bank put too much power in the hands of too few private citizens -- power that could be used to the detriment of the government.