Sezzle Applies for Bank Charter and Deposit Insurance
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AI-assisted source synthesis · not an independent investigation.
At 22:54 on October 23, 2026, Payments Dive reported that buy now, pay later provider Sezzle had applied to the Office of the Comptroller of the Currency (OCC) for a national trust bank charter; if approved, it would offer products and services such as checking and savings accounts. The report also said that Sezzle had previously sought a Utah industrial loan company charter and had now turned to a federal charter, with reviews by the OCC, the Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) expected to take 12 to 18 months. At 23:37 that day, Digital Transactions News reported that Sezzle had applied for a national bank charter named Sezzle Bank N.A. and had applied to the FDIC for deposit insurance; if approved, it could offer FDIC-insured deposit accounts, checking and savings accounts, and credit products. An earlier report said it had applied for a national trust bank charter, while a later report said it had applied for a national bank charter; the two reports describe the charter type differently. The later report also mentioned that Affirm and Klarna had applied to establish banks as well.
AI-written from reports · updated 2 hours ago
Timeline
Follow the reporting to see the different sides of the story.
- Digital Transactions NewsSezzle applies to establish a national bank, joining BNPL peers seeking bank charters
Sezzle has applied to the Office of the Comptroller of the Currency to establish a national bank named Sezzle Bank N.A., and to the Federal Deposit Insurance Corp. for deposit insurance. If approved, the bank will offer FDIC-insured deposit accounts, checking and savings accounts, and credit products; Affirm and Klarna have also applied to establish banks.
- Payments DiveSezzle applies for an OCC national trust bank charter
Buy now, pay later provider Sezzle has applied to the OCC for a national trust bank charter. If approved, it will provide banking products and services including checking accounts and savings accounts. The application shifts from its previous plan to seek a Utah ILC charter to a federal charter, with reviews by the OCC, Federal Reserve, and FDIC expected to take 12 to 18 months.
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