Encyclopedia of Early Modern History Online

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Exchange bank
(817 words)

1. Denotation

Unlike bureaux de change, which already existed in Upper Germany in the late Middle Ages, exchange banks were public clearing- and deposit banks, usually established by a town to function as a clearinghouse with a multilateral system of accounting, in order to better regulate the increasingly common practice of cashless payment transactions. At the same time, by means of the introduction of a currency of accounting (bank currency), exchange banks …

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Denzel, Markus A., “Exchange bank”, in: Encyclopedia of Early Modern History Online, Editors of the English edition: Graeme Dunphy, Andrew Gow. Original German Edition: Enzyklopädie der Neuzeit. Im Auftrag des Kulturwissenschaftlichen Instituts (Essen) und in Verbindung mit den Fachherausgebern herausgegeben von Friedrich Jaeger. Copyright © J.B. Metzlersche Verlagsbuchhandlung und Carl Ernst Poeschel Verlag GmbH 2005–2012. Consulted online on 19 January 2021 <http://dx.doi.org/10.1163/2352-0272_emho_COM_030120>
First published online: 2015
First print edition: 20180126

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