Xietongqing Unincorporated Bank Museum

Xietongqing Ancient Bank was an unincorporated bank in ancient Pingyao. It was founded in 1856 and closed in 1913. In 2000, it was restored and became Xietongqing Ancient Bank Museum, showing visitors what an ancient bank looked like.
In the Qing Dynasty (1644 - 1911 AD), Pingyao was very prosperous and once became the commercial and financial center of China. Therefore, a large amount of currency came in and out very day. Currency at that time consisted of heavy coins, silver and gold, inconvenient and unsafe for transport. Unincorporated banks then appeared. Businessmen stored their money in one of the many branches of an unincorporated bank and got a receipt. After traveling light to their destinations, they could get their money back with the receipt at the local branch of that unincorporated bank. The unincorporated banks also provided loan service.