"Banq" and "banc" are alternative spellings used in company names to evade legal restrictions on the use of the word 'bank' while maintaining a similar pronunciation.
In the English language, banq and banc are alternative spellings pronounced identically to the word "bank".
Both terms have been adopted by financial services companies and others to satisfy legal restrictions on the usage of the word bank.
[4] A similar example includes a company called Wine Banq,[5] whose name clearly suggests it has nothing to do with the banking industry.
Companies using these terms must still comply with relevant laws and may face scrutiny from regulatory bodies to ensure they are not misleading consumers about their services.