England's crushing defeat by France, the dominant naval power, in naval engagements culminating in the 1690 Battle of Beachy Head, became the catalyst for England's rebuilding itself as a global power. England had no choice but to build a powerful navy. No public funds were available, and the credit of William III's government was so low in London that it was impossible for it to borrow the £1,200,000 (at 8 per cent) that the government wanted. To induce subscription to the loan, the subscribers were to be incorporated by the name of the Governor and Company of the Bank of England. The Bank was given exclusive possession of the government's balances, and was the only limited-liability corporation allowed to issue bank notes. The lenders would give the government cash (bullion) and issue notes against the government bonds, which can be lent again. The £1.2m was raised in 12 days; half of this was used to rebuild the navy.The Bank–Monument station complex was created by building links between several nearby stations constructed by different companies. The first station was opened by the Metropolitan Inner Circle Completion Railway. The first station to be known as Bank opened on 25 February 1900 when the City & South London Railway (C&SLR, now part of the Northern line) opened its extension from Borough to Moorgate. The earlier terminus of the line, King William Street, on a different tunnel alignment was closed at the same time. The opening of the eastern terminus of the Central London Railway (CLR, now the Central line) at Bank followed on 30 July 1900.
In a 2013 poll conducted by YouGov, Bank was voted as the "Most Disliked" tube station in London. The original station had lifts directly to the platforms, but when escalators were later cut through the shafts, access for the mobility-impaired was lost. The only parts of the station that are fully accessible are the DLR platforms, which have lifts from the street (via the rectory of St Mary Woolnoth church). At peak times, Bank is also one of the most congested stations on the Underground, so Transport for London (TfL) is transforming it significantly, removing some bottlenecks, and improving access. The station's 15 escalators are being replaced or refurbished with a one-way system in operation in parts of the station. The station has cash machines, Euro cash machines, escalators, payphones, lifts, help points and wi-fi.
Connections: Central, Northern, Waterloo and City, District and Circle Lines and the DLR connect here. London Buses routes 8; 11;15; 21; 23; 25; 26; 40; 43; 76; 133; 141; 242 and 388 and heritage route 15H and night routes N8; N11; N21; N26; N76; N133; N550 and N551 serve the station.