You want to pay someone, but you don't often see them, or you don't want to be seen with them, and they don't have a bank account. You could mail them the gold in a letter, but that's not very practical. Besides, you've no way of knowing who's reading your mail, and who's peeking into that letter that jingles with the distinct melody of golden sovereigns.
What if, however, delivery of such a coveted commodity could be easily accommodated by the banks themselves? Moreover, they would guarantee safe and full delivery, because they're getting a small fee, similar to that of transferring between accounts. Money still has to be moved from one bank to the other; this is simply a different capacity and an added service to their loyal customers, while offering incentive to new customers.
This adds an additional capacity of allowing organizations to quickly and efficiently dispatch funds to individuals for services rendered or contracted, without having to go through the motions of withdrawing the gold, putting it in a letter, and then sending it out.
It would like like so:
You go to a bank.
Assuming you have an account (new or current) with funds stored in that branch, you can TRANSFER <amount> <person> AS CREDIT |<optional memo>(Sexual Favours is always a good one).
The bank will ensure you've enough in your account to cover the amount requested, and their modest fee. Assuming you're not a beggar trying to scam them, and everything checks out, they'll dispatch a courier with a letter of credit for the amount requested to the person listed.
The letter of credit will advise the amount, whom it's from, an optional memo, and from which bank it was issued.
The recipient can then go to any bank, such as the one they mainly use, for instance. They would then EXCHANGE CREDIT FOR GOLD, which is payed out by that branch. Not to worry about them losing money! They'll receive a transfer from the issuing bank to cover the amount they've just given you; so it's all Kosher and no one has to die in a dark alley.