Plaid does very much the same thing, and is used by, among others, CashApp. In the name of making a seamless service they at least used to ask you to enter the credentials to your e-banking portal, then scrape your transaction history and balance. I would hope that by now they have developed a better system that is not nearly so dangerous, but I honestly have no desire to find out. There was a way to instead use your bank routing and account numbers (which is still a riskier proposition than, say, a credit card), but you wouldn't even see that option unless you made a search that returned no results.