Knightfall factoid: Templars invented some of the first forms of Western banking

Knightfall factoid: Templars invented some of the first forms of Western banking

The Knights Templar started some of the earliest forms of modern-day banking in the Western world.

From brokering deals for King Henry III, and creating the first credit system, the knights developed techniques that are still followed today.

As protectors of Christian pilgrims headed to Jerusalem, the Templar set up a banking system to prevent those traveling from getting robbed. Pilgrims would deposit money at the Templar’s Temple Church and receive and pick their cash up in Jerusalem.

To pay for necessities along the way the Templar set up a credit system, that would deduct from the deposited cash, making the Templar the first private bank. Temple Church would eventually become London’s first bank.

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