[fumblebee]

To be clear, PayPal is not a bank. But they will absolutely perform everything you mentioned here, and I agree with your assessment.

[joshuaissac]

> To be clear, PayPal is not a bank.

PayPal is a bank in the EU and has a banking licence from Luxembourg's CSSF.

[fumblebee]

I stand corrected!

[zinekeller]

In the US, yes (in most cases PayPal is legally a money transmitter), but as sibling comment pointed out this is not necessarily the case in other countries with stricter legislation.

[PartiallyTyped]

Starbucks isn't a bank either, but they also kind of are [1].

https://www.youtube.com/watch?v=mr039xnco-8