Absolutely right. It's my (our) money (yet THEIR fiat), and now want to burden us with more regulation, hurt our privacy, limit our options...
Clearly, the more payment options the better.
I thought my country's banking system was the worst when it came to cash withdrawals, but it seems there are other countries where it could be worse. The bank I am using now requires me to inform them a day before if I want to withdraw more than 500K BDT (Around $4.5K). They also want to know why I am withdrawing the funds and give me a form to fill out (a little KYC) and a photocopy of my ID card if I want to withdraw the funds from different branches of this bank. I don't keep more than $500 in my bank account anymore.
Eu's might go strict financial regulations but for SA countries, that doesn't applies same for many's mainly if someone has insider connections (includes cashier to higher level staffs) of the bank who willing to do either withdrawl or deposits for their account, especially countries like, Bangladesh, Pakistan, India, Nepal.... (or would say SAARC nations).
If the person is not capital city based who does their transaction offline cash to cash through their bank probably doesn't they even care because they operates couple of small branches into the multiple cities and they are pressurized to bring deposits to hit profit targets from that branch. I've heard of banks are giving 10%....14% returns in some above mentioned countries for the fixed deposit
(if brings amount in large number which can be 200,000$.... or more.) then they treat like special valuable customers "Do they even ask for source of money" at a time? Not at all. Because if the clients feels offended, can shifts to another bank.
"Loyalty goes where the interest rate and treatment are better". If any problem arise upon a bit after sometime they will handle it accordingly (case depends).
We currently do have the limit for 10,000$ (in my local currency...) for either deposits or withdrawals for past more than 6,7 years (or can goes to unlimited if had valid source) and meanwhile other digital wallets let us allow another 10k$ each a month only, they do monitors in each transactions but banks? Sucks! Is because political damaging nation, people who haven't even completed 8th standard or barely passed 10,12th grade end up being into the higher level in government positions keeps corrupting millions, billions of dollars from those remittance and funding.... If have good political support backing you at your back, you can do the fuck whatever you want. Nobody is stopping it.
And that law and regulations? only apply to the innocent middle class citizens, while the rest of powerful others keep getting away with everything and enjoying the juiciest parts of the rekt system.