This paper gives an overview of the development of cash offices and banks in Herzegovina under Austro-Hungarian occupation. Priority in development was given to its economy and banks by Austro-Hungarian authorities, especially banks with foreign capital in relation to the founding and development of domestic banks in Herzegovina. New authorities were especially active in building military barracks, headquarters, fixing the roads and other infrastructure, which increased employment, cash flow and the need to found banks. On the other hand, by repressive measures and divisions according to religion and nationality, occupying authorities were holding back a faster economic, cultural and sports development of the domestic population. At the initiative of the Serbian and other nations in Herzegovina, they founded economic, banking, cultural and sports organizations and associations which were actively involved in the country's development. That was the foundation for the development of a network of banking organizations and cash offices, which contributed to larger cash flow and the advancement of economy, crafts, trade and other activities in the country.