The Story of Banking

Do you have a special spot where you keep your most favorite toy, or maybe some shiny coins you've saved. It feels good to know your treasures are safe, right. But what happens when you want something really big, like a brand new bicycle or a giant box of crayons with every color imaginable, and you don’t have enough money yet. It can be tricky to save up and keep everything protected. That’s where I come in. Think of me like a giant, super-safe piggy bank for your whole town. I don't just keep things safe, though. I can also help people borrow what they need to build amazing things, like a new playground or a bridge. I have been helping people with their treasures and their dreams for a very, very long time. I am the idea of Banks and Banking.

My story began a long, long time ago, even before there were castles or kings in fairy tales. Way back around 2000 BCE in a place called Mesopotamia, people didn't have coins. Instead, they had grain, like wheat and barley. Farmers who had extra grain would bring it to big, strong temples to keep it safe from hungry mice or bad weather. Later, in Ancient Greece and Rome, people started using shiny coins. They needed a safe place for their money, so they would bring it to me, and I would guard it inside strong buildings. I got my name many years later in a sunny country called Italy. People who exchanged different kinds of money would sit on benches in the marketplace. The Italian word for bench is 'banca,' and soon everyone started calling me a bank. One of the oldest banks that is still helping people today was started in Italy way back in 1472. Before that, in 1397, a very famous family called the Medici family started a bank. They used their bank to help artists create some of the most beautiful paintings and buildings the world has ever seen.

Today, I don't just live in big stone buildings with tall columns. You can find me inside your family’s computer or even on a grown-up’s phone. I'm still doing my most important jobs: keeping money safe and helping people’s dreams come true. I help families save up for a new car to go on adventures or buy a cozy house to live in. I also help people who have a great idea start their very own business, like a delicious cupcake shop that smells of frosting and sugar or a quiet bookstore filled with amazing stories. From keeping grain safe for ancient farmers to helping you save up for that new bicycle, my job is to protect what you have and help your biggest dreams grow.

First evidence of banking c. 2000 BCE
Founded 1407
Founded 1694