PayPal Applies to Establish Bank

Dow Jones12-16 05:47

By Katherine Hamilton

PayPal submitted applications proposing to establish a bank.

The payments company said Monday it had filed applications with the Utah Department of Financial Institutions and the Federal Deposit Insurance Corp. to establish PayPal Bank.

The bank would be a Utah-chartered industrial loan company, meaning it could lend money, hold FDIC-insured deposits and be owned by a non-financial institution.

PayPal Bank would enable the company to provide business lending more efficiently to small businesses in the U.S., PayPal said. It would also reduce its reliance on third parties.

Since 2013, PayPal has provided more than $30 billion in loans and working capital to more than 420,000 business accounts worldwide.

PayPal also plans to offer interest-bearing savings accounts to customers through its proposed bank. The bank would seek direct membership in the U.S. with card networks to complement processing and settlement activities through existing banking relationships.

Mara McNeill has been chosen to serve as PayPal Bank's president. She has more than 25 years of financial services experience in banking, commercial lending and private equity. She previously served as chief executive of Toyota Financial Savings Bank.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

December 15, 2025 16:47 ET (21:47 GMT)

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It would also reduce its reliance on third parties. \n\n\n  Since 2013, PayPal has provided more than $30 billion in loans and working capital to more than 420,000 business accounts worldwide. \n\n\n  PayPal also plans to offer interest-bearing savings accounts to customers through its proposed bank. The bank would seek direct membership in the U.S. with card networks to complement processing and settlement activities through existing banking relationships. \n\n\n  Mara McNeill has been chosen to serve as PayPal Bank's president. She has more than 25 years of financial services experience in banking, commercial lending and private equity. She previously served as chief executive of Toyota Financial Savings Bank. \n\n\n \n\n\n  Write to Katherine Hamilton at katherine.hamilton@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 15, 2025 16:47 ET (21:47 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2591622580","isCrawlerRequest":true}