Garden Money🪏 vs. Traveler Money 🧳 Garden money is a claim on a bank. The payment never leaves the book. Bank A debits the sender and credits the receiver, or messages Bank B to credit an account that already exists. If the banks differ, they net through a correspondent or clearing house and settle the difference in reserves later, usually end of day. The customer never receives reserves. The customer receives a new or transferred IOU from a bank willing to owe them. Deposits grow with the relationship because they are cheap funding. The network only works for someone who already has an account the system can credit. Hours, membership, and a name on a book are the product. Traveler money is a reserved coin. The payment leaves the book. The bank burns the deposit, or draws the thin sleeve, and mints the coin one-for-one against segregated reserves. An agent, a foreign book, a self-custody wallet, or a title company can hold it with no account at the issuing bank. Nothing has to be credited on a deposit ledger for the payment to finish. When the coin returns, the bank burns it and restores the deposit, netting the sleeve toward zero overnight. The sleeve cannot go to zero. The next walk-test payment still needs a mint when no account is left to credit. The book does not grow with the payment. The coin moves. The claim stays put.