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Gringotts Wizarding Bank is the only bank of the wizarding world, and is owned and operated by goblins. It was created by a goblin called Gringott, in 1474. Its main offices are located around the North Side of Diagon Alley in London, England. In addition to storing money and valuables for wizards and witches, one can go there to exchange Muggle money for wizarding money, which appeared to not be very difficult, as shown when Hermione Granger's parents did so while paying for her school supplies. The currency exchanged by Muggles is later returned to circulation in the Muggle world by goblins. Gringotts is an imposing snow-white multistoried marble building located partway down Diagon Alley, near its intersection with Knockturn Alley, that towers over the neighbouring shops. It is the place where British witches and wizards store their money and other valuables, in heavily-guarded vaults miles below ground.
