The idea of a check—or promissory note—goes back to antiquity

The Medicis of Italy innovated 'bills of exchange,' precursors to checks

At the time, lending money for interest (also known as usury) was banned in much of the Christian world. The enterprising Medicis developed bills of exchange to allow merchants to promise payment without cash or coin (with some discrete means of earning interest woven in). Learn more about how this family laid the foundation for modern banking.

Pre-coin currencies like shells were subject to counterfeiting

While it is difficult to pinpoint the very earliest form of money that was used, a type of shell called cowrie shells were used as currency as far back as 3300–2000 BCE. These shells were imitated using ivory, bone, clam shells and more.

From bartering to banking, temples to electronic transactions, here’s banking has evolved significantly since ancient times

A few historical facts about banking (like that one day, not long ago, certificates of deposit were physical pieces of paper) may not surprise you. But did you know that the church was the original lender? And that Julius Caesar himself invented foreclosure?

London bankers created the first clearinghouse to process checks in 1770

Until that time, each banker was required to bring that day's checks to every other bank for settlement. Perhaps understandably, the first place bankers opted to gather to clear and settle checks was a tavern known as the Five Bells. The innovation gave rise to what would become clearinghouses, key institutions that facilitate payments.

American Express is credited with inventing the traveler's check

In the 1890s, then American Express President James C. Fargo was frustrated that he couldn't get cash while traveling in Europe outside of major cities. Marcellus Berry, an American Express employee, came up with the idea of a traveler's "cheque": a prepaid check, similar to cash, that requires the signature of both the customer and the receiving institution to be valid. American Express never modernized the spelling of the word "cheque" and stopped providing them at the end of 2020.

How to write a check

Physical checks are not necessarily in vogue anymore, but there are several situations in which one should know how to write them. This article breaks down the basics of checks for beginners, from acquiring a checkbook to filling them out. Consult with their example template to make sure you got it right.

There have been many versions of US banknotes throughout history

From the Civil War to the present day, the US has gone through many, many versions of paper money (or “notes”). Some notes, like “demand notes,” were created to finance the Civil War. Others, like “treasury notes,” helped pay for silver.

The term ‘mortgage’ was born out of the French word for ‘dead pledge’

Borrowing money to buy a house has been a global practice since the Romans in the fifth century BCE. But before the mortgage, there was the “dead pledge,” which labeled the property as “dead” to the borrower until they paid off their loan to the lender.

See a collection of ancient Roman coins used on the Silk Roads

As ancient Rome's appetite for eastern luxuries grew, long-distance trade routes linking the Mediterranean to Asia emerged along what became known as the Silk Road. Without shared language or legal systems, merchants could use the reliable Roman coins to exchange with other cultures. This exhibit features gold and silver pieces bearing the portraits of emperors and Latin inscriptions.

The concept of CDs dates back to the 1600s in Europe

Banks in the US started issuing CDs in the early 1800s as the banking system began to take shape following the Revolutionary War. The federal government did not formally insure CDs until the FDIC was formed in 1933.

Payday lenders usually require borrowers to post-date a check or provide access to an electronic bank account

If borrowers can't pay back the loan, they can be subject to overdraft fees from their bank and other fees from the payday lender—further exacerbating the debt borrowers face.

The first modern payday lending store opened in Tennessee

Check Into Cash Inc. is widely recognized as the first national payday lending company. Originally started by a preacher in Johnson City, it was later popularized by Allan Jones, who founded Check Into Cash in 1993. Jones has since donated a significant amount of money to the city. (Some users may experience a paywall.)

The ancient Egyptians built prototypes of the modern Suez Canal

The idea to facilitate trade between the Mediterranean Sea and the Red Sea and connect the Eurasian continent was apparent even to pharaohs in the second millennium BCE. Though no physical traces remain, contemporary accounts attest to early, shorter versions of the canal, including from Herodotus.

The Ishango bone suggests mathematics was born about 20,000 years ago

Ancient civilizations developed mathematical systems for various purposes, including the Egyptians for the construction of the pyramids and the Ancient Greeks for logical reasoning in theorems. However, these systems were predated by the Ishango bone—found in the Democratic Republic of the Congo—whose notches suggest a base ten system, prime numbers, and simple mathematical operations.

Trade and conquest carried chess into Europe by the 11th century

After spreading through Persia, chess traveled along Islamic military and trade routes into North Africa and Moorish Spain by the 10th century. By the 11th century, it had taken root across much of Europe, flourishing in courts and monasteries.

Opium's history traces from religious use to mass-market commercial products

Religious or medical use of opium was present across Europe and Asia as early as 5000 BCE. By the 16th century, humanity had come to see opium as more than medicine: It was a marketable product. This perspective also defines today's relationship with opioids, highly addictive painkillers at the heart of an ongoing drug crisis.

A gold standard is a system where every dollar in circulation can be exchanged for a set amount of gold

For centuries, the things people used as money had intrinsic value, such as precious metals like gold. In medieval Italy, giant wheels of parmesan cheese were once used as a store of value.

Ice cream can be traced back to the 7th century

Documents from ancient China refer to a frozen milk dish, a predecessor of the treat we now know. That evolved into a blend of buffalo milk, flour, and fragrant camphor oil that more closely resembled our ice cream.

It's unlikely that we will ever live in a completely cashless world

Although countries like China are moving toward a cashless system, many other countries still rely on physical money for everyday transactions. This article dives into the future of currency and includes a map of the percentage of adults who do cashless transactions around the world.

Ancient ghost stories appeared in texts like 'The Odyssey'

Sharing ghost tales has been around for centuries. Ancient Mesopotamia, Rome, and Greece each had their own chilling stories about encountering spirits. Find mentions of specters in some of history’s most famous writings like the "Epic of Gilgamesh" and "The Odyssey."

The term 'algorithm' originated from the Latinized name of al-Khwārizmī, a 9th-century mathematician whose works introduced Arabic numerals and the decimal-based numeral system to Europe and whose treatise 'Al-Jabr' gave algebra its name.

Who was the world's first author?

This article details the effort to define the world's first author, as supported by current archaeological evidence. Clay disks found in an ancient Sumerian city point to Enheduanna, a high priestess and daughter of Akkadian King Sargon, as the...

When did humans start kissing romantically?

This article explores the ancient roots of romantic kissing. Current archaeological evidence dates sexual and romantic lip kissing to about 2,500 BCE. A Mesopotamian clay tablet from the time shares a tale of two deities locking lips. There's also...

Early timekeeping tools included sundials, water clocks, and astrolabes

Astrolabes also provided a person's latitude based on the height of the stars in the sky, thus aiding in navigation. Incense and candle clocks relied on the constant burning rate of fire to track the passage of time based on premarked locations with equal-interval spacing.

Leaving cookies for Santa became popular in America during the Great Depression

During the period of economic hardship, many parents wanted to teach their children the importance of sharing and gratitude. The tradition dates even further back to ancient Norse mythology. The god Odin and his eight-legged horse, Sleipner, were left food in exchange for gifts.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

Graffiti dates back to at least ancient Pompeii, where citizens scrawled messages to one another on public walls

'Payment in kind' is a compensation method that uses alternatives to cash

Companies can make payments using goods, services, or additional securities instead of cash, helping companies preserve their cash flow. Public BDCs receive roughly 8% of their investment income via PIK.

For centuries, it was common to sleep in two shifts: a few hours at the beginning of the night, and a longer period beginning around midnight

Learn more about the history of fireworks, which dates back to an accidental invention during an alchemist's quest for information about immortality.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

An initial public offering or 'IPO' is the process of a private company becoming public by putting shares of the company on the stock market for purchase.

Memecoins are a type of cryptocurrency—a form of digital currency with a wide variety of uses—created around popular 'memes,' or viral internet jokes.

The US Constitution is widely regarded as the longest-standing written national constitution still in force—see how it has influenced rights worldwide.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

The first robot in literature may have been a 'mechanical man' in 1907's 'Ozma of Oz,' a book in L Frank Baum's 'Wizard of Oz' series.

Poison ivy was sent to Europe in the 1600s as an exotic, ornamental oddity, where it was purposefully grown in the English royal gardens at Kew, the Faculty of Medicine in Paris, and a few other locations.

Long before Major League Baseball began allowing instant replay for balls and strikes, an umpire reluctantly used the technology to determine whether a hit was a home run, a move that inadvertently ushered in a new era for the sport.

'Shogun,' a 1980s TV series, helped popularize sushi in the US by stimulating an American interest in Japanese culture.

Clever Hans was a 1900s horse that was believed to be able to solve math equations, tell time, and read and comprehend German, until a psychology student discovered how he got his answers.

Take a 3D tour of the Hajj, Islam's annual pilgrimage to Mecca, undertaken by over 1.5 million Muslims.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

A vending machine run with Anthropic's AI went out of business after it was convinced to give away items for free and sell a video game console.

The American cockroach is actually from Africa, an apparent hitchhiker aboard ships carrying enslaved people, with evidence suggesting the bug may have arrived in the New World as early as the 1600s.

The word 'jazz' evolved from 'jasm,' 19th-century American slang for 'energy'

As of 2025, the most cited papers in science include a review of graphene, methods to improve image recognition, streamlining electron density calculations, and optimizing protein studies.

Scientists can determine Earth's past climate conditions by analyzing air trapped in microscopic bubbles within ice cores—columns of compressed snow layers that build up over hundreds of thousands of years.

Sony set the standard for cylinder-shaped batteries when it repurposed manufacturing equipment used to make rolls of magnetic recording tape.

Some researchers have labeled nomophobia, the fear of being without your phone, as 'the phobia of the 21st century.'