The changing nature of the relationship between a retail bank and its customers is examined, particularly with respect to new financial concepts, debt and regulation. The traditional image of a bank is portrayed as a physical building a classical Doric portico. This image conveys concepts of service, soundness, strength, stability and security ("five-S"). That "five-S" concept is changing, and the evidence for changes that affect customers directly is considered. A fundamental legal problem associated with those changes is highlighted: a bank is no longer solely responsible for the safeguard of customer monies. A solution to this problem is proposed: banks should be jointly liable with perpetrators of criminal activity in the event of frauds as an encouragement to recognise and mitigate fraud.
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