How did large banks reconcile accounts in the pre-industrial/electric era?

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If I opened an account at, say, Wells Fargo in San Francisco in 1860, then sailed down to Los Angeles and wanted to withdraw money, how did the bank know how much I had in my account?

And the same question going back further, like with the Knights Templar.

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Anonymous 0 Comments

The knights would give you slip of paper that basically said you were good for “whatever” amount. So you would go to the local knight temple with your money in, say, London. They would take your money and give you a chit. Then when you show up in, say, Constantinople you’d go to the knight temple there and give them the chit and they would give you your money.

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