Wait, where in the world does that happen?

..don't tell me that in the US if someone has your banking details they can do literally anything they want, and just empty your account

this. it sorta annoys me putting in the payee endpoint as well. You should be able to get a number or code or whatnot from the place wanting payment and it will setup the payee endpoint and give you a code. You should then be able to purchase something and give the payee the code which they can do to send a bill to whats setup at your bank. then you go and authorize the payment and of course someone could set it to always accept payments from the payee if they are lazy. It also super annoys me that there is not more options on bank accounts. I want my savings to only allow transfers out to specific accounts I setup. Like my checking. Not allowing any transfers from other institutions. The checking can then be open and I can trasfer there before doing something else with it. Any type of transfer should always do a balance check and not go if insufficient balance is available with no fee.

What Americans tend to refer to as "fraud protection" is charge back policies, where the payment processor acts as Content Police and revert transactions if they hear the vendor was unfair to their customer (and they usually are on the side of the customer).

My EU bank won't do that even on my credit card, because it's insane that one would expect a financial institution to be judge, jury, and executioner in the case of a disagreement over legal services rendered.

Americans have to own up to the uncomfortable fact that dependence on these policies is what keeps the big credit cars companies in power, on top of severely driving up consumer prices (unfairly weighted towards the rich of course who get cashbacks thanks to the obscene money Visa makes on their enormous transaction fees) and being incredibly unfair to small vendors who don't have the means to meaningfully dispute fraudulent chargebacks.

My country has our own government operated, fast, simple and cheap payment method so now visa and mastercard are making the US government pressure us to destroy it