alt Hacker NewsNo, it doesn't depend on context. The intended recipient of a financial transaction is not the bank. The intended recipient is the party you're trying to pay. It is possible for financial transactions to be E2EE and completely indecipherable by anyone but the two parties of the transaction. Crypto like ZCash can do it. Banks cannot.
Can you expand on this a bit. It was my understanding that you're telling the bank to pay the vendor (from your money/credit). In that case, the bank certainly needs to know about the transaction... so it can make the payment.
Are we talking about 2 different things here?