Who were attributed with creating what Is better known today as travellers cheques.
And no Its not american express

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12-02-02, 08:19 PM
JerseyTomater
Thomas Cook

12-03-02, 03:08 AM
koicarp
very cold !

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12-03-02, 03:51 AM
chanceygardner
First introduced by the London Credit Exchange Company on 1st January 1772.
12-03-02, 04:47 AM
koicarp
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12-03-02, 09:26 AM
chanceygardner
I've also seen this company called The London Exchange Banking Company. Same date as before, Jan 1 1772.
12-03-02, 12:01 PM
koicarp
got to go back In history


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12-06-02, 05:08 AM
koicarp
The Templars, as a religious order, were exempt from taxes. They exported their own wool, granted sanctuary like any other church, held their own courts, and ran their own markets and fairs. Since Templars were also free from tolls on roads, bridges and rivers, they could easily move about. These conditions led the Templars to become bankers, and many say they are at the origin of modern banking. Even though the cannon law forbade christians from collecting interest on loans, the Templars nevertheless lent money and collected interest on a massive scale. One of the most important aspects of Templar banking was the arrangement of payments without the actual transfer of cash. You could deposit money at a Templar preceptory and receive a letter of credit that could be converted to cash at any other Templar building (in other words, they let people write checks)This method was also used by pilgrims so as to not carry large amounts of cash while travelling,They would take enough out for each part of thier journey, to the holy land. Theft and fraud were prevented by a set of codes that only Templars knew. The Templars, like a bank, also kept safe deposits. They even kept the French royal treasury. In England, the Order collected taxes for the crown. They acted as mediators in disputes involving ransom payments, dowries, pensions, and lots of other stuff.


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12-10-02, 02:15 AM
chanceygardner
Koicarp,

Sorry, but I don't really agree.

The facility provided by the Knights Templar was like a modern bank current account and not like a travellers cheque. What you did was make a deposit at your local Templar facility and you could draw money at any other Templar facility on your travels. You had a bank book (chit) which was updated by the templars when you made a withdrawal, so you have (albeit encoded) a record of deposit and withdrawal on a piece of paper. You could also get an overdraft which you would then have to pay off later. You get none of these facilities with a travellers cheque, but you do with a bank current account...so they were an international bank providing international bank accounts. Even though my source for explaining the mechanism says the Templars facility is more like a travellers cheque/credit card - I don't agree when you look at the facilities available from the Templars and that provided by modern travellers cheques and current accounts. wink Source.

If you search for ancient Rome, Greece, Egypt and China you can find records of Papers of Exchange in these civilizations which work pretty much in the same manner as travellers cheques, but not quite (not as redeemable), though I guess you could say that about my first guesses.
wink

This message has been edited. Last edited by: DorianGreyed,