Banking in The US and UK: What’s the difference?

The very first notion of banking can be traced back to 2000 BC, when grain loans were conducted between farmers between cities. In the Roman Empire, lenders based in temples started to accept deposits and were able to change money. However, banking as we know it didn’t start to come into play until the medieval era, when the Bardi and Peruzzi families set up banks in many parts of Europe. Banking today mainly takes its lead from the Bank of England, which was established in 1694.…