Banking Houses

Definition

Banking houses are institutions that handle currency transactions. This includes lending money, making investments, transferring funds among banks, individuals or businesses (remittance), issuing bills of exchange etc., especially during medieval Europe.

Related terms

Medici Bank: A historical Italian bank which laid the groundwork for modern banking during the Renaissance period.

Usury: The practice of making unethical or immoral monetary loans that unfairly enrich the lender.

Remittance: A transfer of money by a foreign worker to an individual in their home country.