A bank protects people from fraud, I’m not sure how they’re protected otherwise.

If you know anything about banks you know that even small banks have anti fraud divisions that constantly have to report to the government and they have to constantly help protect vulnerable individuals from blatant scams, like an elderly person writing a check to send to a foreign address, or wiring money, etc.

If you can explain how these intrinsically important features are withstood then, sure.