Via Bukkitdev comment

In towny when I attempt to /town new wdina the currency that I have in my hand either TPs to a vault and says I don't have enough or if I get rid of that vault it just says I don't have enough money. (i did have enough money by far)

I can confirm this. Would you like my server stats?

Yes, please. I haven't been able to reproduce this with my local config (current Towny, Vault, Gringotts).
Can you give me the versions and configuration for those plugins?

Bukkit: 1.7.9-R0.2
Vault: 1.4.1
Gringotts: 2.3
Towny: 0.88.0.0
PermissionsEx: 1.22.1

Bukkit Startup: http://pastebin.com/bA5LcAAw
Bukkit.yml: http://pastebin.com/QTg00DMs
Towny Config: http://pastebin.com/dzhCWEiN
Gringotts Config: http://pastebin.com/3X6EjX7z

My server is a development platform until I can test out everything working, but it is publicly available for my testers. I can give you access to it if you would like as well. Just tell me what I can do.

I also have GIT and have done a little Java development in the past if you think it's something I could help with. I'm using Eclipse with its GIT plugin, but I honestly don't have much experience with it. I've only ever used SVN and Mercurial. :/

Also, the process I've used is the following:

Create personal chest vault using normal method of chest with sign and [vault] on first line.
Vault was successfully created.
Use "/moneyadm add 10000 Tyraen" to add money to the vault.
Use "/town new Pleepliopolis" to create a town.
Error message received is "You can't afford to settle a new town here."

I'm currently looking into doing some debugging with towny. I believe they have a debug mode that may very well be helpful. I'll let you know if I find anything interesting.

Thanks! Meanwhile, I'll try your config and see what happens

Heads up that I'm using SQL (MySQL) for everything, so you'll have to switch the database to something else.

In working around with Towny, I've discovered what the problem is.

There is a configuration variable in their setup that is on by default to use "Register.jar" for economy, but the documentation is not clear on how to use the configuration variable.

Apparently, it needs to be turned off if you are NOT using Register.jar even if you ARE using an economy plugin. I'm guessing that Register.jar overrides Vault's own capabilities to work with other plugins.

This is no longer a Gringotts issue and I will be putting in a ticket with them explaining the issue and making a suggestion that they provide more information in the documentation on how to use this particular configuration variable. I really appreciate your willingness to help and I really enjoy your plugin. It is already a well rounded addition to my server and has been working perfectly, just so that you know.

It seems the problem is elsewhere! Indeed, setting using_economy to false solves the issue, but only because it doesn't use the economy then at all.

On the other hand, It's on by default, and with the default config, I don't have any problems. With your config however, I can reproduce the error. I'm going through the diff now to see what else could be affecting it.

Okay, I got it. It's the closed_economy.enabled setting. It attempts to send money to a server account ("towny-server") when creating the town. Because this account doesn't have a vault to put money into, it fails. To work with this, Gringotts would need support for virtual accounts (#45) or special designated server vaults.