On top of the banks protecting themselves angle, as already pointed out, banks are also protecting you from yourself.
It’s great to not need that protection. It’s also fine if you find it annoying. But it’s completely silly when people over-dramatize things like it’s some severe “invasion of privacy.” It’s an easy question to answer and isn’t a big deal, especially when you realize that banks knowing far more about you than the fact that you’re about to spend a few grand on a toy. Where it makes a big difference is for those that actually need that protection.
If banks putting 100 people through the arduous invasion of privacy known as “what is this money” for stops just one person from getting scammed, that’s a good thing. I know it’s hard, but we manage.
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