The Knights Templar developed an innovative banking system to protect European pilgrims traveling to the Holy Land. Pilgrims could deposit funds with the Templars before their journey, then withdraw the money at destination by presenting a document similar to a check. This avoided the dangers of carrying wealth while traveling. The banking system was managed mainly by non-combatant Templars, who made up about 90% of the order. It allowed the use of check-like documents for withdrawals and became a foundation of modern banking. Beyond serving pilgrims, the Templars also lent money to nobility and operated as a sophisticated financial institution for the time. Knights joining the order would pledge their wealth, which helped grow Templar banking assets. Through their pioneering medieval banking, the Templars demonstrated remarkable financial imagination that later banking would build upon. Their banking system was central to amassing their wealth and power.
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