The 18-year-old attacking midfielder made his debut for Dundee United earlier this season and spent the 2018/19 campaign with Clyde F.C. During his time on loan with the 'Bully Wee', he won the club's Goal of the Season and was named Man of the Match in the game that secured Clyde's promotion from League Two.
Banks signs from Dundee United on a three-year deal, and he's delighted.
He said: “There's no bigger stage I'd want to play on [than the Premier League]. It's a big step up coming from Scotland.
“When you hear about that interest [from Crystal Palace], you want to pursue that, and push myself to the highest level. So it was a no-brainer that this was the place for me."