Banking in Faerun

[spongebob1138]

So, I'm a pretty new DM, and the PCs are getting to the point where they've got a decent amount of coin jingling around in their bags. I'm feeling like I need to have an option for banking/storage of funds. I posted on a 5e Facebook group and gathered some input there, but here are my thoughts. Please tell me what you think.

As my campaign in set in the FR, I was thinking about setting up the Church of Waukeen as a basic banking institution. For a fee (7 percent? 10 percent?), a PC could exchange coin for a letter of credit, somehow enchanted or marked to protect from forgery/counterfeiting, that could be used to retrieve coin in a different city. A withdrawal of coin would not incur an additional fee, but a deposit of additional funds would require the same 7-10 percent fee. The letter of credit would be updated after a transaction.

I know there will be questions/complications with this, and it's not 100 percent realistic. Like, wouldn't the churches of Waukeen get robbed all the time? Maybe the funds aren't kept there. Maybe a network of portals or something?

Anyway, please tell me what your thoughts are and/or what you do in your games. I'm just looking for a basic mechanism so the players don't walk around with 10-20 pounds of coin in their sacks. Even if they converted it to platinum or gems, it still wouldn't be wise to carry all your money with you all the time!

 

[Boneguard]

In our Table top AD&D 1st ed we go about it in two way:

1) We convert to gem or jewelry. Easy to carry, but losing aboyt 10%-20% with the exchange rate or;
2) We are using letters of credit from either Merchant Guilds or Gold- or Silversmith Guilds. More straight forward, usually recognized by most and a worse we lost 10-15% to have the letter done.

 

[Jediking]

Temples could have powerful magic or high level clerics around (with paid guards) to prevent most robberies. Or move th money to a secure location.

It seems like a good system. But what do you want with it? How many complications or risks are up to you. If you want a chance for the temple to be robbed (or for the players to rob it themselves?) or other plot points, you might need more details than if you just let the CR 15 Bishop of Wealth keep it under his giant gold hat.

It could be a good source of quests, if the players do favours for the temple they get a discount or good rate, maybe even a line of credit. Lock into a 10 year, fixed rate mortgage and buy out the bankrupt, vile Duke next door rather than overthrow him by storming the castle.

 

[spongebob1138]

I don't think my party is the kind that will try to knock off the bank, but I wanted to have the concept in my head in case the pc's asked questions about it... But, yeah, I could see a plot or side quest developing from it someday.

 

[Dannyalcatraz]

I was going to suggest you look at the rise of banking by the mercantile families in Italy, but it looks like you have some idea about that already.

Depending on how vulnerable you want the system to be, they might not have those "magical watermarks" to prevent forgery. Or they may have them, but not realize they're flawed or that someone has figured out how to duplicate them. And discovery & defeat of a forgery ring could be a VERY fun plotline.

And depending on who is behind it, the Thieves' Guild may or may not be helpful...

 

[Horwath]

I would say that the banking system could work. Either state/religious or private.

interest would be very low as it seems to be no inflation in d&d worlds.

You could deposit your gold/platinum/gems/whatever and determine fixed amount of time before you can collect it. That way a bank can count on that many to make some investments somewhere else. And you would get 1% interest per year for that. I you would like to make earlier withdrawal from the bank you would pay penalty interest of lets say 4-5%(bank always wins) because you broke the contract. And any logistic cost it would require(transportation be it mundane or magical).

On the other side you can simple implement safehouses that you rent for certain fee per time used. Amount would determine the level of security of that site.

Or just get few bags of holding. Or cast Leomunds secret chest.

 

[StuckInTheEther]

Something like enchanted letters of credit with the church obtainable for a fee as suggested above could be a fun idea.

They could be enchanted with multiple layers of protection making them hard to forge (that sounds like a challenge!).

The funds could be used to acquire priceless works of art and items well guarded and warded in secret chambers of the church inaccessible to the general public.

The church could also buy significant amounts of land and other "investments" making them a major political and economic player in the world.