Is “Banco” a Scrabble word?

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Yes
BANCO
Valid in at least one Scrabble dictionary

Valid in these dictionaries

SOWPODS / CSW
Scrabble UK & International
Valid
TWL / NWL
Scrabble North America
Valid
Large English Dictionary
General English word list
Unavailable

Meaning of Banco

noun
  1. 1.A bank, especially that of Venice; formerly used to indicate bank money, as distinguished from the current money when it has become depreciated.

    banco money

adjective
  1. 1.Being or relating to a type of court involving a bench of judges. Quite often, the Banco Court is an appeals court.