With PayPal Savings you can open a deposit account to earn interest and watch your money grow. There’s no minimum balance or monthly fees. Manage your PayPal Savings directly on PayPal's website or the PayPal app, with 24/7 access. You can add money to your PayPal Savings directly from your PayPal balance or from a linked Visa or Mastercard debit card or a confirmed bank account, via your PayPal balance.

PayPal is a financial technology company, not a bank and is not FDIC ensured. PayPal Savings is provided by Synchrony Bank, Member FDIC. Money in PayPal Savings is held at Synchrony Bank. PayPal Savings is currently only available for personal accounts. A PayPal Balance account is required to use PayPal Savings.

You can sign up on paypal.com or in the PayPal app. Click the Finances tab, and then go to the PayPal Savings page by clicking the Savings tab.

You can add money to your PayPal Savings using:

• Your PayPal balance or linked:
• Visa or Mastercard debit card

• Confirmed bank account 

To add money to your PayPal Savings, click Add Money on the PayPal Savings page and choose from the following options:

1. Add money to General Savings or an existing Goal.
2. Select how much money you would like to add and how often (select either one-time or one of the recurring options).
3. Choose whether you would like to “Get it in seconds” by selecting a linked Visa or Mastercard debit card or your PayPal balance, or “Get it in 3-5 business days” by selecting a linked confirmed bank account.
4. Review your information and click Add Money.  

When you add money from a linked bank account or debit card, it goes through your PayPal balance, then into your PayPal Savings with Synchrony Bank. There may be limits to how much money you can add to your PayPal Savings.

If your PayPal balance drops below $0, we’ll apply your transfer to your negative balance first to help your PayPal account stay in good standing. The rest of your transfer will go into your PayPal Savings.

You may only make withdrawals from PayPal Savings by transferring money to your PayPal Balance account.

1. Select whether you’d like to transfer money from your General Savings or an existing goal by clicking General Savings or the name of the goal.
2. Click Transfer.
3. Enter the amount to transfer and click Review.
4. Select PayPal balance.
5. Click Transfer.

If you have holds or limitations on your PayPal account, access to your PayPal Savings balance may be impacted.

There are 2 ways to cancel auto-save.

Option 1: To cancel automatic transfers into your PayPal Savings, click Auto-save on the PayPal Savings page in app or web and choose from the following options:

1. Tap Finances.
2. Tap on Savings
3. Tap Auto Save link
4. Select General Savings Or Goal
5. Tap Cancel Auto Save.

Option 2: To cancel automatic transfers in your PayPal Savings on the PayPal app or web:

1. Tap Finances.
2. Tap Savings.
3. Tap General Savings or Goal.
4. Tap Manage link beside "Auto-Save".
5. Tap Cancel Auto Save.

With PayPal Savings, your money is deposited at Synchrony Bank, Member FDIC, and will be eligible for Federal Deposit Insurance Corporation (FDIC) deposit insurance coverage up to $250,000.00 USD. The coverage limit applies to all money held by you at Synchrony Bank, including PayPal Savings, based on account ownership categories. FDIC insurance protects against the failure of Synchrony Bank, Member FDIC, not the failure of PayPal. PayPal is not a bank and is not FDIC insured.