Many services, like Coinbase or Robinhood, use Plaid to deposit money from Bank. I understand that Plaid stores my login and password, somewhere... somehow... who really knows. A lot of people complain about that.
So I have an idea, but it's so simple I'm not sure if that would work.
Let's say you trade on Coinbase. Every time you need to deposit money via Plaid, you:
- change the password to your online bank account
- pair your bank with Coinbase
- deposit money
- unpair your bank (I'm not sure if necessary)
- change back the password.
Would you consider this approach 100% safe?