PayPal is complicit in this. Here is why I think so: I wanted to add a bank to my PayPal account. After selecting the bank, I get a popup saying: "Log in to your online banking to link your account instantly". Before logging in, I read the small print at the bottom: "We use Yodlee to confirm your bank details and to check your balance and transaction as needed, which can help your PayPal payments go through. For more information, see our Privacy Statement. You can turn off our use of Yodlee by removing permissions for this bank in your Profile." Guess what! There is no such option in my profile and Customer Service confirmed it. So, PayPal is giving you a false sense of privacy. Conclusion: I will not add a new bank account to my PayPal account.
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