PayPal has never asked any such thing of me
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No. This is my account which I access via a tried and true personal link, not from an email or some other risky source. I set this up about a decade ago. I’ve since found a way around this process. When asked for your bank name don’t fill in that info or select one of the links PayPal provides. Instead, look around and find the “other method” and select that.
If you want to see this just go to your account and start the process to add a bank account.
I confirmed that what the OP described is something legit on the PayPal website. Login to PayPal and select Wallet on the top menu and "Link a Bank" (https://www.paypal.com/myaccount/money/banks/new)
Select a bank, then it will ask for a user/password login at the bank. PayPal’s description is:
We use Yodlee to confirm your bank details and to check your balance and transactions 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.There is an alternate option if you look at the bottom:
Link your bank another way (Takes 2-3 business days.)In this case you would enter routing and account number.
PayPal is using Yodlee, a third party financial service (https://www.yodlee.com/company). Personally, I feel more comfortable using the traditional routing/account numbers.
Thanks for taking the time to verify what I said is true. Thanks also for relaying the instructions to easily find the place where anyone would list a bank account with PayPal, and also your instructions for finding an alternate method are a whole lot better than my, “Instead, look around and find the “other method” and select that”.
I did use the alternate method.
PayPal has never asked for my password, been using them since 2000. Lots of scams out there and paypal is a favorite. When I did use them, got checks sent to me.
I checked a little further and it looks like I’ve been using PayPal since about 2005/2006. You’re correct, PayPal has never asked me for my bank account name and password - until now.