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How did medieval banks make a profit

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how did medieval banks make a profit › questions › how-could-you-make-ban. The expansion of trade and industry promoted the rise of banking. Bankers were money changers, for only experts could establish the relative The most famous was the Fugger family of Augsburg, whose founder was a the Fuggers themselves made extensive loans to the Habsburg Philip II of Spain. But let us return to the vexing matter of how to make money out of money A merchant accepted florins from a bank to buy goods to ship, say.

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How did Medieval Diplomacy Work? (Short Animated Documentary) Retrieved 28 May The Building Society Story. The first, the moneychangers, had already flourished for a long time. The Jewish trader performed both financing credit and underwriting insurance functions. They could sell promissory notes to merchants who want to travel without bags of coins. Mostly, though, buildings were owned by families and, somewhere in the building, would be a locked room or rooms that held locked strongboxes. how did medieval banks make a profit

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