what is the bank service when bank is start in the world?
what is the bank service when bank is first start in the world?
- 1 decade agoFavorite Answer
Many banking functions such as safeguarding funds, lending, guaranteeing loans, and exchanging money can be traced to the early days of recorded history. In medieval times, the knights templars (a military and religious order) not only stored valuables and granted loans but also arranged for the transfer of funds from one country to another. The great banking families of the Renaissance, such as the Medicis in Florence (Italy), were involved in lending money and financing international trade. The first modern banks were established in the 17th century, notably in Sweden (1656) and England (1694).Source(s): www.history.com