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The Knights Templar, a medieval Christian military order founded in 1119, developed one of the earliest forms of banking for pilgrims traveling to the Holy Land. Their system allowed pilgrims to deposit funds at one Templar house and withdraw the equivalent amount at another location along their journey, effectively safeguarding their wealth from the dangers of theft. This was achieved through an innovative use of letters of credit, an early precursor to modern banking practices. As the Templars' wealth and land holdings grew, so did their banking operations, which extended loans to monarchs and nobles and facilitated large financial transactions across Europe. The Templar banking system was a significant element of their power, ultimately contributing to their mysterious end, as their wealth and influence provoked envy and distrust, leading to their dissolution by King Philip IV of France in 1307.