Banks will always be regarded as one of the Three Lions’ greatest ever players thanks to his exploits 53 years ago.
The former Leicester and Stoke star played a crucial part as England overcame Uruguay, Mexico, France, Argentina and Portugal.
And he was awarded with a medal after helping his country beat West Germany 4-2 in the tournament’s final at Wembley.
Gordon Banks and the other 21 members of Alf Ramsey’s victorious squad are remembered as heroes for their roles in what remains England’s solitary World Cup win.
However he, like many of his England team-mates, was not in possession of his medal all these years later.
Banks sold off his medal at London’s famous Christie’s auction house for more than £120,000.
And the reason why he decided not to keep the prize for his efforts is truly heartwarming.
Banks sold the medal in order to help his three children buy their first houses.
Banks, who died peacefully on Monday night, has been fondly remembered by England manager Gareth Southgate.
“I am deeply saddened to hear of Gordon’s passing,” Southgate said.
“An all-time great for England, I was privileged enough to be in his company on a number of occasions.
“It was particularly special to be with him at a Football Writers’ tribute dinner last year and wish him well on his 80th birthday.
“Gordon spoke to the room about that incredible save from Pele against Brazil back in 1970 and moments like that from his remarkable World Cup-winning career will continue to linger long in the memory.
“On behalf of everyone connected with England, I send my condolences to his wife Ursula, his family and friends.”
Banks’ former England team-mate Peter Shilton also reacted to the news of his death.
“I’m devastated – today I’ve lost my hero our condolences to his family rip Gordon,” Shilton said.