Trying to link my bank account with coinbase. Is this legit? They're asking me for my sign in information

[RoidmeDangerfield]

I tried signing into coinbase so that I can extract funds from my checking account to coinbase/Bitcoin and from there create a wallet to make a purchase. I haven't done this in over a year and it looks different. I tried to link my bank account in the past but there were glitches and I gave up and used a debit card. Only problem with a debit card is that it takes days to finally clear. Whereas getting funds from my checking account should go a lot faster so I can get to shopping for my needed items.

When I go to the coinbase website and try to initiate the process it asks for my bank and then it wants me to agree to give my sign in credentials to my bank. Is this how it works or is something way off here? I don't feel comfortable giving my username and password to "Plaid" which I've taken a screen capture in order to show you what I see on my screen. The blue lines are my bank that I blanked out for obvious reasons. But it's the same when I chose another bank.



After I click continue this is what I see next:



I can't believe this. Even after doing some research on my own to see if this is legit or a high risk I can't understand why a third party should have my account password to my checking account.

Have any of you gone this route before? Is there another option? All this has become such a pain in the ass.

 

[MisterSuperGod]

I tried signing into coinbase so that I can extract funds from my checking account to coinbase/Bitcoin and from there create a wallet to make a purchase. I haven't done this in over a year and it looks different. I tried to link my bank account in the past but there were glitches and I gave up and used a debit card. Only problem with a debit card is that it takes days to finally clear. Whereas getting funds from my checking account should go a lot faster so I can get to shopping for my needed items.

When I go to the coinbase website and try to initiate the process it asks for my bank and then it wants me to agree to give my sign in credentials to my bank. Is this how it works or is something way off here? I don't feel comfortable giving my username and password to "Plaid" which I've taken a screen capture in order to show you what I see on my screen. The blue lines are my bank that I blanked out for obvious reasons. But it's the same when I chose another bank.

View attachment 153829

After I click continue this is what I see next:

View attachment 153830

I can't believe this. Even after doing some research on my own to see if this is legit or a high risk I can't understand why a third party should have my account password to my checking account.

Have any of you gone this route before? Is there another option? All this has become such a pain in the ass.

There was another app that did that too.
Abra, i think. Sketched me out. Cash App doesn't need to do that, not sure why these apps do.

 

[MindlessWork]

I have seen this when I was linking my bank account to my brokerage account. I asked the brokerage support team about this and they tell me this is to be able to quickly verify the bank account before linking it. Otherwise they fall back on trial deposits they make and verifying it I tell the amounts of such deposits (usually just a few cents) to link.

 

[Ninjaturtle2020]

Yes it is normal plaid is legit

 

[Gbro]

That's why you link to a couple of wallets after and <attempt to> throw off the trace.

 

[1tank1]

BUMP

 

[Millard]

Yes it is normal plaid is legit

Plaid is legit in that it's used by financial institutions like Coinbase, Venmo, Wells Fargo, Chase, etc. But there's always the security concern of giving your banking login credentials to a third-party.

 

[1tank1]

View attachment 153830

I can't believe this. Even after doing some research on my own to see if this is legit or a high risk I can't understand why a third party should have my account password to my checking account.

That's bonkers !!!
No chance would I ever give any 3rd partie my banking log in details