It technically is. A bank iirc cannot do the sort of black box of terminations PayPal likes to do with its customers. The problem is that PayPal isn't legally

It technically is. A bank iirc cannot do the sort of black box of terminations PayPal likes to do with its customers. The problem is that PayPal isn't legally considered a bank in the US but a payment processor, which gives them a lot more freedom to run their service in the way they're infamous for. In the EU, they are a bank, which permits you much more rights but you have to drag them kicking and screaming to enforce your rights. (Among other things, they're homed in Luxembourg and basically employ all the competent financial lawyers in that country, making it basically impossible to get legal representation without getting rejected on a conflict of interest basis.)