Just to let everyone else having this issue know, spoke to someone on live chat and they performed and account "resync" which has cleared the issue for us - hope this helps.

I'm also having the exact same issue - 22/07/24. I've cleared cookies, cache etc, tried changing to SMS verification etc and it keeps cycling me back to needing to set up 2 Step before I can add a bank account.This is surely an error with Shopify its...