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ALLOWANCE FOR CREDIT LOSSES
 9 Months Ended
Sep. 30, 2024
Credit Loss [Abstract]  
ALLOWANCE FOR CREDIT LOSSES
NOTE 5: ALLOWANCE FOR CREDIT LOSSES
Allowance for Credit Losses - Brokerage Related
Brokerage related allowance for credit losses primarily relate to unsecured balances of receivables from users due to Fraudulent Deposit Transactions, losses on margin lending, and reserves on proxy revenue receivables. Fraudulent Deposit Transactions occur when users initiate deposits into their accounts, make trades on our platforms using a short-term extension of credit from us, and then repatriate or reverse the deposits, resulting in a loss to us of the credited amount. The following table summarizes the brokerage related allowance for credit losses as a reduction of receivables from users, net on the unaudited condensed consolidated balance sheet:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in millions)2023202420232024
Beginning balance$20 $15 $18 $15 
Provision for credit losses3 6 18 16 
Write-offs(7)(6)(20)(16)
Ending balance$16 $15 $16 $15 
Allowance for Credit Losses - Credit Card Related
We have two types of allowance for credit losses related to credit cards: i) an allowance related to off-balance sheet credit card receivables, shown as part of accounts payable and accrued expenses on the unaudited condensed consolidated balance sheet, and ii) an allowance related to purchased credit card receivables and interest receivable from customers, shown as a reduction of receivables from users, net on the unaudited condensed consolidated balance sheet. Credit card related allowance for credit losses represents management’s estimate of expected credit losses from credit exposure over the remaining expected life of credit card receivables. The credit card receivables allowance takes into account information from internal and external sources, including historical collection data, charge off trends by FICO cohort, and market data. We write-off balances when the balance becomes outstanding for over
180 days or when we otherwise deem the balance to be uncollectible. Write-offs for off-balance sheet credit card receivables are classified as credit loss payments to Coastal Bank.
The following table summarizes the allowance related to off-balance sheet credit card receivables:

Three Months Ended
September 30,		Nine Months Ended
September 30,
(in millions)
2023202420232024
Beginning balance$— $34 $— $32 
Opening balance from acquisition of Robinhood Credit16 — 16 — 
Provision for credit losses10 11 10 30 
Credit loss payments to Coastal Bank(4)(8)(4)(26)
Recoveries— 1 — 2 
Ending balance$22 $38 $22 $38 

The following table summarizes the allowance related to purchased credit card receivables and interest receivables from customers:

Three Months Ended
September 30,		Nine Months Ended
September 30,
(in millions)
2023202420232024
Beginning balance$— $3 $— $1 
Provision for credit losses1 6 1 11 
Write-offs
— (1)— (4)
Ending balance$1 $8 $1 $8