From the Koodo site you would have to be redirected to your bank's online banking system and at that point you may as well just visit your banks website and set it up there rather than go to Koodo's first.
I may also be missing something here...
Not at all awesome. First, giving any company the authorization to take money from your bank account is a bad idea. Second, there is no point in paying any bill with a bank account when you can use a credit card and get rewards. Third, Koodo is not going to add a payment option that TELUS had before and now removed. They might have different directors or whatever, but when it comes to taking money, I am sure TELUS has the first and the final say.
It's too bad it's been knocked out. Granted, I prefer by credit card. Even if you configure your online banking to pay Koodo a certain amount every month, that won't factor in other charges and credits (refer a friend credits, early upgrade fees, pro-ration of plan changes, adding or removing service, overages and roaming charges, etc.).
I'm glad this idea got attention from the Mobile Masters, but would be cool to see it implemented.