In today's difficult financial climate, banking rules and regulations are becoming more and more rigorous. Indeed, it is even necessary to fill in a self assessment questionnaire for onlone payments, a regulation that has only recently been introduced.
In part, this new strict implementation of solid financial practice has been put in place to protect the banks themselves and other financial institutions. But self-checks and assessment rules are there, most of the time, in order to encourage bankers to reflect on their own financial situation.
Banking is becoming more and more about good money management. Institutions are gradually making it harder and harder to simply bury your head in the sand and ignore your money issues.
Indeed, gone are the days when living on credit was acceptable. Nowadays, credit limits are very strictly enforced and securing a card is no easy feat. The financial world has been shaken awake by economic depression and this is forcing consumers to practice safer banking and money management.
In short, banks are tightening up their regulations not only in the interest of protecting themselves, but also in a bid to encourage safer financial behaviour in their customers.