question The Term "Bank" in a Domain Name

[Dandelion]

Hello Friends,

Recently I have been working on a new capital intensive venture, and I have been trying to get everything right.

So, I decided to acquire a premium domain name to use for this project.

The domain is in upper 5-fingure and we are about to agree on final price and payment terms.

However, the name has the term "Bank" in it. But the business we intend to start is a non financial service business.

Is there any possible regulatory implication of having "Bank" in a business name? Something like "ClickBank.com"?

Please, kindly advice before I agree to this deal... It is very urgent as I am about to send out the mail for the final offer.

Thanks for being there.

DAN

 

[jideofor]

LOL... You so wrong. Pls stop. Don't guess again

And who pays high 5-figure for this?

I am not a lawyer but let me ask you a question... have you googled and found lots of websites on keyword+bank.com, including non financial companies which are based in the US? If they were not worried to set up their businesses with such "bank" in them, why are you?

 

[urlurl]

check with a lawyer for sure, but i think the nature of the business will determine the allowed use of the name.

Sperm Bank

Click Bank

River Bank

data bank

etc

if you are providing any financial services or related products to banking i would assume in some jurisdictions it may not be allowed. do your research before you decide.

 

[Dandelion]

The business is not related to financial services, although money must exchange hands between customers and we just like in every other businesses.

To be honest I didn't make any research as regards the use of the name. Like I said earlier, there were some other options I was considering before settling for this.

Have you googled and found lots of websites on keyword+bank.com, including non financial companies which are based in the US? If they were not worried to set up their businesses with such "bank" in them, why are you?

Yes. ClickBank is a very good example. I was hoping to not worry until I stumbled on the Washington case.

 

[Dandelion]

We might just be able to guess this one

Trust me you won't

But not to worry, I'll share the name soon enough

 

[MR Harrist]

I hope its not BigBankdotCom
personally as long your content is not related with some Big brand, I am sure no one will sue you! but if use that domain to make profit because for some reason it have correlation, and that big brand think, you make them loss, probably they will give a warn not to use it! i.e you loss 50k!, personally I will back of! unless that domain worth $50

its just my 2 cents! don't take it personally!
better to ask experts! but we all know there's no such a thing!

 

[Dandelion]

The name is "BetBank.com"

And it's currently live as a Bitcoin Sportsbook under the main name - UOBET.COM. Feel free to join us at https://uobet.com

 

[jberryhill]

Initially I was thinking of Incorporating ***Bank Inc.

It depends on where. Some states get pretty excited about anyone who is (a) running some sort of financial related service which is not an FDIC insured bank, and (b) using the word "bank" in their business name.

I have run across various situations where people were using the word "bank" in a sense other than as a financial institution, and it is often sufficient to explain to the inquiring regulator that a "phone bank", for example, is a common phrase used to refer to a telephone call center operation, and other sorts of things.

But if you are running some kind of business that might be characterized as a financial service, then you could have problems.

 

[Dandelion]

It depends on where. Some states get pretty excited about anyone who is (a) running some sort of financial related service which is not an FDIC insured bank, and (b) using the word "bank" in their business name.

I have run across various situations where people were using the word "bank" in a sense other than as a financial institution, and it is often sufficient to explain to the inquiring regulator that a "phone bank", for example, is a common phrase used to refer to a telephone call center operation, and other sorts of things.

But if you are running some kind of business that might be characterized as a financial service, then you could have problems.

I don't think Sports betting and Casino is characterized as financial services? We've incorporated a different name in Curacao where the business is currently licensed.

HTTPS://UOBET.COM is the main domain, while HTTPS://BETBANK.COM is the secondary name for now.

 

[jberryhill]

I don't think Sports betting and Casino is characterized as financial services?

Are people going to have accounts?

Are they able to put money into those accounts?

Are they able to withdraw money from those accounts?

I think before forming an opinion of what is, or is not, a banking service, you might want to look at a few statutory definitions of what is, or is not, a banking service. Laws are kind of neat that way. We right them down with words that have meanings.

 

[Dandelion]

Are people going to have accounts?

Are they able to put money into those accounts?

Are they able to withdraw money from those accounts?

I think before forming an opinion of what is, or is not, a banking service, you might want to look at a few statutory definitions of what is, or is not, a banking service. Laws are kind of neat that way. We right them down with words that have meanings.

Well, opinion is highly divided, even among attorneys, putting me into a kind of confusion. That's the reason I decided to make UOBET.COM the primary domain for now.

I will soon be seeking License from Nevada Gaming Control Board. Then everything will be cleared.

 

[Dandelion]

If you love Bitcoin betting, please consider joining us at UOBET.COM