Perhaps its the legislation or financial overseer institutions that make banking pure hell?

Banks are required to for example know their customers before giving them accounts, and can be held responsible for money or shady laundering.

Im all for the idea anyway but lets talk real, how would it work? It has to be for profit else its not a business but a welfare whixh the banks will go to for bailouts next. Owned by all members?

We had such discussions before on hn conclusio was that current laws and requirements dont make that possible.