Medieval Bills of Exchange: a writer’s guide

“Moving large amounts of coins was rarely a good idea in the Middle Ages. It was incredibly difficult to protect a train of slow-moving pack animals or carts from robbers and bandits. Even small amounts of money were vulnerable, as Chaucer discovered when he was robbed on three separate occasions when he was carrying money to pay men working for Richard II.”

“The Templars had preceptories all over Europe and in the East. A preceptory was a headquarters. Temple in London is where the English one was located and Le Temple is where the French equivalent was built in Paris. These were built like fortresses and were very secure. Wealthy men could deposit money in one of them and receive a letter of credit allowing him to receive the same amount in the local currency (less administration charges and interest) at any preceptory in Europe or in the Holy Land. This meant, of course, that the Templars made a profit on the transactions.”