The first bankers were money-changers.
They took foreign money from travelers and gave them local coins.
They carried the money in special boxes called strong boxes to protect it from robbers.
Later, people brought their money to money-changers for protection.
Finally, money-changers loaned money to people and charged them interest.
The early Italian bankers worked outdoors on the street.
They used a bench for their place of business.
In fact, the modern word "bank" comes from an Italian word meaning "bench".
By the 16th century, banks were popular everywhere in Europe.
They were family business.
Kings and other rich people borrowed money from bankers.
In the next century, British bankers were the first people to make paper money.
They gave their customers paper notes in exchange for their gold and silver.
People liked the paper bank notes because they were easy to carry.
After a while, everyone accepted bank notes as money.
The first successful bank in the United States opened in Philadelphia in 1972.
Today there are about 14,000 banks in the United States.
