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Your GM is making things up. (Which is part of the job of a GM.)
We don't have much in the way of details about how banking works in Golarion (except the temples of Abadar do it).
We don't know how real-world early banking systems - like the letters of credit supplied by the Templars - worked either, in terms of fraud prevention.
If I was running a low-tech bank I would at least write an enciphered password on your letter of credit and require a matching signature.
But maybe the purpose is just to reduce the weight you have to carry around, and provide something that is easier to hide from thieves than 50lbs of gold would be.
In medium or larger cities, banking institutions would have permanent Zones of Truth (at the very least) all over the entire building.
Anti-teleportation defences would seem important too.
And you'd want to cast anti-mind-control spells on any staff members with access to the vaults. And anti-illusion spells, in case they're someone else in disguise.
Or maybe they just say, "No-one would ever rob our bank because that would violate WBL."
That's what the spell implies, but the FAQ says otherwise.
So neutral thieves with mind control spells would be a bigger problem.
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In a previous campaign I ran paper money was issued by the Draconic Bank
The kobold minions of a large and powerful dragon issued paper promissory notes in return for storing the gold in his hoard.
There's most likely some magical verification that occurs with the promissory note you are given when you deposit with the Bank of Abadar. Considering they're still in business they're probably pretty good at detecting forgeries and verifying stuff.
They very likely have day long verification process for any very large amounts of money being withdrawn (I would say anything over 1000 gp requires the branch location to contact the originator branch to verify the information). They also probably have some sort of specific magical glyph that is unique to each bank manager or branch or something to that effect.
There are no real details given on Golarion's banking system, but it should be pretty difficult to fake. If not, then Abadar's church would be bankrupt and/or no one would use them.
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Every time someone goes to redeem a promissory note the bank casts commune to verify that it's genuine. Abadar is the only deity who would even think of putting up with this all day long, so his church has a monopoly. :-P
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In PFS there is a scenario that has a little bit of information on this. The players can actually find some of these bills, and actually take them too.
...stuff...
...and four withdrawal slips, each made out for 2,000
gp, which is currently deposited at the Embelliada Bank
in Katapesh. Anyone who succeeds at a DC 15 Knowledge
(local) check knows that these slips may be taken to the
bank and exchanged for cash (should a PC make a DC 28
or better on this check, she further understands that these
drafts are coded so that only the depositor can legally
withdraw the funds.
It isn't stated what this code entails, but if players decide that they try and cash in this "prize", they are immediately arrested at the bank for embezzlement.
Let's think about this for a minute. Using low-level resources (say level 0 or level 1) only, several things could be done.
1) An invisible Arcane Mark could be used to identify the promissory document's authenticity. It is easily readable, but to common eyes no one would know the mark is even there. For anyone who CAN read it (through read magic or similar), that's not a difficult deterrent, as Golarion doesn't have the FR's Mystra and Azuth's policing of distinct wizard marks.
2) however, using the arcane mark to make a one-time password on the document, would be VERY strong to detect. Then it's up to the bank to properly guard copies of the one-time password decoding document.
3) Wands of Detect Charm would allow the bank to detect charm or compulsive influence on multiple individuals up to 50 times, not a bad bang for the buck.
4) Wands of Discern Next of Kin could serve similar function to the Detect Charm (A Golarion version of "what is your mother's maiden name?")
Then, you have other measures which are higher level but more versatile and long-lasting:
5) Ring Gates (though expensive) can make unbelievable conduits for communication. Remember that items that are pushed through and then retracted do not count against weight limit; all day you could hold open documents through a ring gate with messages on them, or one-time password synchronization documents, or requests and responses, and they do not count against the weight limit. Even if you don't count these, a document weighs almost nothing, and hundreds could be exchanged per day.
Even beyond all these, I would remind you that even in our modern technological era, with as many top-notch security mechanisms as we have, Multiple U.S Government organizations have been data-breached, organizations like Equifax whose business is credit information and security have been breached, and bank fraud is a full-time booming business. Unless the purpose is a heist game, I would gloss over the specific mechanisms as much as possible, and even then, there are other ways to run a heist scenario that do not involve exacting detail.
Abadar banking also has the advantage that they have contact with the extra planar Vaults of Abadar which rather helps in asset mobility.
Dot.
Make sure you're warded in some way against the party rogue; otherwise when you go to purchase some new spells you'll find yourself down 800gp.
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Do what everyone else does with their money... build a dungeon and hire monsters to guard it. Foolproof, right?
Can we turn this into creating the highest security bank possible? (And optionally create a list depending on the money available to the bank crafters.)
Dimension lock, cast every [Caster Level] days at the excact moment the previous casting expires
I can think of a lot useful abilities the Bank of Abadar can use which brings their abilities to communicate and detect forgeries up to a high standard.
1) Commune. Asking the Question 'Has anyone attempted to breach the terms and conditions of passing an Abadar authorized letter of credit in this branch today?' would be a good start.
2)Zone of Truth/Detect Lies, Authenticating gaze and detect charm help to deal with fraud
3)Lesser planar ally to summon a servant of Abadar which will greater teleport to the Head office and back with updates on the status of customer accounts and letters of credit 'However, if the task is strongly aligned with the creature’s ethos, it may halve or even waive the payment.' so this service for the Church of Abadar would probably be free
4) The Inquisitors of the Church of Abadar who track down and deal the appropriate legal consequences for those who cheat the Church
Note that the hallow spell offers all sorts of possibilites for securing a vault, as do things like forbiddance. Also, with commune and planar ally, tracking down thieves and embezzlers is pretty straightforward.
In my games, I generally assume that organizations like the Bank of Abadar are effectively theft-proof unless I want to make a major plot point of it. So far, no need has arisen.
Converting money to gems is one of the best ways to make it portable.
Otherwise, we have always assumed some sort of secure banking system exists, even in non-Golarion campaigns.
And of course there is always spending it. :)
The knowledge that if you rob the bank the Mage Academy will send advanced invisible stalkers and/or advanced large or huge water elementals to drown you in your bath could be a good deterrent.
That's why the best kind of theft is the one where the victim never realizes they've been robbed. Those are easier with computers, but I'm sure creative mages could find a way.
Bank of Abadar literally has deity level protections in place. I’m not sure you really need to stat it more than that.
If you want your game to go towards a grift/heist theme, then making a point of developing comprehensive security system will certainly push the game there. Even a large number Pathfinder players will be intrigued by beating your systems. Yes, there will certainly those who prefer the "I make my skill roll" approach, so this isn't a certainty, but rather a lot of players love puzzles.
Real Estate, put your gold into properties and profit. You can't steal a house. Well you can but that's harder than a bank note.
It's worth considering that there could be different tiers of security depending on the wealth/importance of the client. Also if the banking system is tied to a church or deity, what happens to the accounts of those who fall foul of the church? A potential heist could involve soiling the targets reputation with the church resulting in downgraded security.
I would take the view of religion/church based banking as I do with religion/church based healing; it comes with strings in addition to any gold costs. These strings can be anything such as regular church attendance, preaching, performing deeds or services in the name of the church, adhering to certain moral strictures and so on. As such I think there would be other options e.g. other religious groups, secular organisations etc. I'm playing a healer type (witch)at the moment and made a poster which he uses to advertise his services as being "without moral judgement or religious obligation"; it's not unreasonable that people might want similarly value free banking services.
My plan is to invest the money in real estate.
South Shore in Korvosa but this is nearly 16000 GPs away.My char has only saved up 4000 GP until now, so i was looking for a save place to store the money until then (my char is a squishy lvl 4 wizard).
Problem is, the studio where my char was living has been destroyed and he has been living in the Citadel of Velshynek (City Watch) for the past 3 weeks.
So i left my letters of credit to the quartermaster for safekeeping.
I asked for better security at the bank, but my DM said that the letter of credit is enough to access the money at the bank.That is the reason i started this thread, because i could not believe it.
Real Estate is the right choice, if you can get the rest of your gold quick I'd offer the 4000 as a "down payment" on a property. Banks love collateral but that's up to your gm. 25% down will have those banks drooling and if you don't come up with the rest of the gold the bank will just run with your money and take the property and they know it. Or you could find a shark but that's risky and a potential encounter your group or gm would not be down for.
Basically you gotta modernize the banking of Pathfinder.
A shark in real estate? Wouldn't that be a landshark or bulette then?
Real estate investment in diversified markets.
Just don't put all your money in one city, or even one country.
^-^
I've heard you get big returns getting involved with money laundering. Also valuable contacts.
In a less silly vein. Yes, Diversification is HUUUUUGE. Also, not just property. Real Property (land) is not mobile and thus can be vulnerable, especially when it gets to the point of being interesting to local nobles. Land can get seized, especially if you start looking like a threat to the local power structure. Investing in trade expeditions has risk, but as part of a diversified portfolio risk can be managed.
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Indeed: diversify your funds. Invest some of your money in a belt, some in a ring, some in a headband, some in a cloak... These are all allowable business expenses for a professional adventurer, so not taxable. Then, once your portfolio is in place, you've done what you can to minimise risk, so go out looking for new acquisitions, such as dragon hoards. You should be looking to increase your net wealth at a growth rate of 23% WBL, minimum.
Indeed: diversify your funds. Invest some of your money in a belt, some in a ring, some in a headband, some in a cloak... These are all allowable business expenses for a professional adventurer, so not taxable. Then, once your portfolio is in place, you've done what you can to minimise risk, so go out looking for new acquisitions, such as dragon hoards. You should be looking to increase your net wealth at a growth rate of 23% WBL, minimum.
Yes, please do so, if you could also let us know your itinerary for our records.......
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Here's our current divination-augmented agenda:
(1) Travel to next town; if time permits, get attacked by bandits along the way.
(2) Meeting with accountant.
(3) Kill everyone in local temple. (Estimated 88% certainty that they're evil.)
(4) Bribe town watch; we've budgeted 600gp. (Any more than that and it's more efficient to just teleport away.)
(5) Prepare augury statement for shareholders; the fiscal outlook is expected to be 'weal'.
(6) Replace any used scrolls.
(7) Visit graveyard, hoping to be attacked by undead.
(8) Head out into wilderness and sleep in Rope Trick to save on rent. Level up to strengthen future WBL prospects.
(9) Breakfast (goodberry porridge).
(10) Regain spells.
(11) Travel to rock of ascension; prevent awakening of Yhidothrus, the Ravager Worm.
(12) Teleport to city, claim reward, sell loot and reinvest in a mixed portfolio of magic gear, ale and whores.
(13) Board meeting; read minutes, calculate ROI, plan future itinerary.
The point being, never carry so much value that you become interesting to those who have the ability to take it away from you.
Of course if you have an easy to buffalo GM then break out the cheese, there are no consequences. How utterly dull.
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^-^
I've heard you get big returns getting involved with money laundering. Also valuable contacts.In a less silly vein. Yes, Diversification is HUUUUUGE. Also, not just property. Real Property (land) is not mobile and thus can be vulnerable, especially when it gets to the point of being interesting to local nobles. Land can get seized, especially if you start looking like a threat to the local power structure. Investing in trade expeditions has risk, but as part of a diversified portfolio risk can be managed.
The flip side of that is powerful loyal beings can be greatly liked by the local power structure. "Alfred let half the mercenaries go with the wizard Big Albert settled in the old manor near the Targe mountains we have a buffer against bandits." They aren't just going to casually grab it off you if you buy it legitimately as that would first worry other land holders and secondly annoy a powerful adventurer.
Then you can always spend money on upgrades...
Step 1: Buy land.
Step 2: Build wooden house.
Step 3: Build farmlands.
Step 4: Build infrastructure like a mill.
It's a big ongoing job.