Re: How is this different from cash?
"So I don't agree that the bank is responsible in the examples they give. I mean buying of all things a fitted kitchen online off gumtree??? I don't think that sort of silliness should be protected by regulatory burden, we all make mistakes and we should learn to suck it up and learn from it, not go whine that someone else should fix it."
Problem is, errors of these type can be one-way: catastrophic, meaning there's no lesson to learn because the victim is now without a way to come back: dead-ended. And no government wants to be in the position to tell someone, "You lose. Game over. Better luck next life." because people with nothing left to lose tend to turn to crime and/or revenge, which affects all of us. It's like saying a kid should learn about the perils of electricity by sticking a penny in the light socket; problem is some don't survive the experience.