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PayPal Balance Program Banks

 

Last Update: July 28, 2022.

If you have a PayPal Debit Mastercard® (“PayPal Debit Card”), have enrolled in Direct Deposit, or have bought or received cryptocurrency, the U.S. dollar funds held in your Balance Account will be placed by PayPal, as your agent and custodian, in one or more of the following banks insured by the Federal Deposit Insurance Corporation (FDIC) that we choose in our discretion (“Program Banks”) where they are eligible for FDIC pass-through insurance:

  • The Bancorp Bank
  • Wells Fargo Bank, N.A.

Any cryptocurrencies you hold in your account, non-U.S. dollar currencies, or funds you hold in a business account are not eligible for FDIC pass-through insurance.

We may add or remove a Program Bank at any time and without notice.

For more information on FDIC pass-through insurance, please see the PayPal Balance Terms and Conditions.