What raised the red flag in my mind is that the client told the OP that if she wasn't willing to work without safeguards then he didn't want to work with her at all. What other 'safeguards' might he not want to adhere to further down the line?
Within 24 hours I have had two jobs that were scams on here. Its getting ridiculous, please beaware everyone and if they ask for banking info do not give it to them. Answering your question you can never be too cautious.