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$125 Checking Account Bonus at Banco Popular Continues


Popular Community Bank
Banco Popular is still offering up to $125 for opening its Totally Free Checking Account. The first $25 requires turning in your old debit card and unused checks from your other bank. $50 is for adding direct deposit, and $50 is for using their free online bill pay. They're also giving away a free gift (George Foreman Grill). Here's the promotional page link. It's not located under Banco Popular's main website.

I first posted on this offer in August. Originally, this offer was only for the New York and New Jersey branches listed on that special website. However, I called yesterday, and the customer service rep stated that this deal is now available at all of their branches. Some other details of the checking account that I was told include:
  • No hard credit pull, just a soft pull and a ChexSystem verification
  • Branch visit is required (in any state where they have branches)
  • Minimum initial deposit is $50
  • No minimum balance
  • First order of checks costs a minimum of $9.95 for 150. Checks are optional.

On the promotional web page, I also noticed a 5% APY advertised for Banco Popular's Premier Yield Money Market Account. However, the customer service rep said this was no longer available. She did say there's a High Performance Money Market account with a yield of 4.75% APY for balances over $10K. It has a $15/monthly fee for balances under $5K. Note, rates may vary by state. This rate was for New York.

Branches are located in California, Illinois, New Jersey, New York and Texas. Banco Popular is FDIC insured (Certificate # 34967).

Thanks to the reader who provided an update on this bonus in my previous Banco Popular post.

  Tags: New York, California, Popular Community Bank, Illinois, New Jersey, Texas, checking account

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Comment #1 by Anonymous posted on
One of the nice things about Banco Popular is the service at the branches. I've had a money market account there for a year or so, and every time the rate drops I go by the branch and if there is a higher paying account the manager switches my account to the higher-paying one.

The bad thing is the clunky web site. I've learned I have to keep a close eye on my paper statements to see if the rate has dropped.In order to find out what rate the account is currently paying, I have to call my local branch.

You can't set up external links for transfers on their site (I haven't tried setting up a link from an outside bank).

By the way, in SoCal at least, the branches seem to be located in Wal*Marts.