‘Online’ Bank’s xenophobic reasoning for denying "foreigners" the ability to open an account online

I had this experience once, it may be relevant.

There seems to be an accepted principle here that “discrimination can be okay as long as there’s a good reason”. Their response to you looks suspiciously like a list of reasons why it can be argued that that is the case here (though they didn’t outright say it). It would be ridiculous reasoning in this case, but it may be helpful to possibly have an understanding of what their thinking is.