Popular Bank


Overview / Commentary
800-377-0800
85 Broad Street
New York, NY 10004

Banco Popular is a Puerto Rico-based financial institution operating in the United States as Banco Popular North America, which has for branding purposes named itself Popular Community Bank. Both institutions are subsidiaries of Popular, Inc., a holding company. Popular Community Bank offers personal and business banking solutions to meet consumers’ and business owners’ needs.

On its personal banking side, Popular offers standard deposit accounts including checking, savings, money market, and Certificate of Deposit (CD) accounts. Its checking accounts options can be categorized into non-interest bearing and interest bearing accounts. The senior checking account gets all the benefits of the free checking offer, plus interest accumulation. A savings account is available and comes with a monthly service charge unless a minimum account balance is maintained. Money market accounts offer a higher interest rate and come with an ATM card for checking account functionality. Certificates of Deposit (CDs) are offer in term lengths ranging from 30 days to 120 months and have a grace period between maturity and renewal. On its business banking side, Popular provides cash management services as well as checking and savings deposit account offerings.

Popular Community Bank online banking allows customers to manage their deposit and loan accounts by transferring funds, tracking spending, making payments, and paying bills. The bank has enabled its website to work in congruence with a web-enable phone and has also released mobile apps that provide account management on popular smartphones.

Popular Community Bank is the consumer-facing name for Banco Popular North America, a New York, New York-headquartered bank established in the United States in 1961. It serves its customers through multiple branches located in regions across the country.

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Reviews (7)

Closing Of Account

Posted by: |

Sent off documents to close account held by deceased parent. They never received the documents in their office in Miami Lakes, Florida. When I phoned them they then proceeded to tell me that when and if they would receive the documents, then they would forward them to Puerto Rico. I guess it will take me over 6 months to one year to close an account.

Not To Be Trusted!

Posted by: |

Applied for a SAVINGS account. Have a 835 credit-score and was looking to transfer 35K held in a Credit Union savings account. This, apparently, isn't up to their "standards" and rejected the application. Starting to smell A LOT like private data mining. Good-luck getting a intelligent response from Customer (NON) Service "IF" you ever get through. BEWARE!

Poor Customer Service

Posted by: |

Very poor customer service, completely ignorant and dismissive. I have been trying to contact the bank for two weeks and they have not been able to provide an international help center number. Completely ignorant of my issue. NOt responsive. Stay away form this bank

Worst Banking Experience

I tried to open a CD with Popular bank because they had good rates. Should have just stuck with a tried and true bank because Popular's requirements are ridiculous.

They emailed me saying that I need to return the 'welcome package' that they mailed to me or my account will be closed - I never received this in the mail. No worries, I get a copy emailed to me and print it. There are no instructions about where to mail this on the actual document, so I email them to get an address. The instructions were super unclear on this doc - long story short I mailed them 2 different copies that were apparently wrong. They ended up closing my account because they didn't have the welcome package on file.
I've opened countless accounts at other banks and have never had this happen.

The website is also confusing to use - there's 'popular bank' vs. 'popular direct' which are two different sites with different logins. Not sure why they can't just fix their websites and combine them like other major financial institutions do.

Stay Far Away

Posted by: |

I have never dealt with a company, let alone a bank that has been such a mess in my entire life. Their customer service is a mess. One of the first times I called I was transferred to a third party service that said they never heard of the bank and doesn’t know how I was transferred to them. Then followed by being hung up on and transferred way too many times. The straw that broke the camels back was being locked out of my online banking account and spending an hour on the phone. I don’t trust my money with this so called bank and neither should you.

Popular Bank Is Run Worse Then The Country The Bank Originated From If That's Possible!!!

Posted by: |

This bank is out of Puerto Rico and based in NYC probably to give them some sort of credibility. I did not receive two interest checks on a CD and it took me 1 year and 6 months and around 17 phone calls to finally get Minerva at the bank to resolve the issue. I spoke with Rolando, Julio, Shaylee, Enrique previous along with them and others and some of them on multiple occasions. First if a financial institution is doing there accounting properly they would of automatically notified me that two checks were not cashed and sent me replacements. Obviously there is a lack of accounting, honesty or both. Shaylee did nothing after she hung up the phone. I asked Enrique to speak with the bank President and he informed me he was the president. LOL! He was nothing but a punk taking a paycheck and like the others not doing their job's. Thank you to Minerva who on 07/13/22 said she would get it taken care of and she did,she even called me on two occasions too make sure that everything went through properly.

Don't Be Fooled

Posted by: |

I am consistently amazed that the CFPB has not investigated this bank for hidden and unannounced fees. The customer service is non-existent and simply there to deflect their egregious and unlawful business practice. I fell for their marketing and they looted my account.



Health
A+

Health Grade Components

Overall
FDIC Certificate #34967
Year Established1999
Employees834
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.36%
Return on Equity - YTD2.56%
Annual Interest Income$369.5MM
Assets and Liabilities
AssetsQ2 2024vs Q2 2023$14.29B$12.55B
LoansQ2 2024vs Q2 2023$10.36B$9.81B
DepositsQ2 2024vs Q2 2023$11.86B$10.02B
Equity CapitalQ2 2024vs Q2 2023$1.93B$1.94B
Loan Loss AllowanceQ2 2024vs Q2 2023$86.5MM$104.1MM
Unbacked Noncurrent LoansQ2 2024vs Q2 2023$53.6MM$31.1MM
Real Estate OwnedQ2 2024vs Q2 2023$456K$292K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Popular Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

Popular Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$50k*-Popular Savings
OTHER TIERS: 0.30% $0 - $10k | 0.35% $10k - $25k | 0.40% $25k - $50k

Popular Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.40%*$250k*-Popular Saver Money Market -Promo
OTHER TIERS: 4.00% $1 - $25k | 4.20% $25k - $250k
3.15%$10k-Business Optimum Money Market
0.70%*$10k*-Premier Business Money Market Account
OTHER TIERS: 0.47% $0 - $10k
0.50%$0-Treasury Money Market Account
0.40%*$500k*-Public Funds Money Market Account
OTHER TIERS: 0.35% $0 - $100k | 0.37% $100k - $500k
0.10%*$1m*-Business Escrow Money Market Account
OTHER TIERS: 0.03% $0 - $500k | 0.05% $500k - $1m

Popular Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$1m*-IOLTA
OTHER TIERS: 0.05% $0 - $100k | 0.10% $100k - $250k | 0.15% $250k - $500k | 0.20% $500k - $1m
0.20%*$100k*-Public Funds Interest Checking
OTHER TIERS: 0.16% $0 - $50k | 0.18% $50k - $100k

Popular Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.50%*$1m*-4 Month CD
OTHER TIERS: 4.35% $1 - $25k | 4.40% $25k - $100k | 4.45% $100k - $1m
4.40%*$1m*-7 Month CD
OTHER TIERS: 4.25% $1 - $25k | 4.30% $25k - $100k | 4.35% $100k - $1m
4.00%*$1m*-13 Month CD
OTHER TIERS: 3.85% $1+ | 3.90% $25k - $100k | 3.95% $100k - $1m
3.90%*$1m*-19 Month CD
OTHER TIERS: 3.75% $1 - $25k | 3.80% $25k - $100k | 3.85% $100k - $1m
3.90%*$1m*-21 Month CD
OTHER TIERS: 3.75% $1 - $25k | 3.80% $25k - $100k | 3.85% $100k - $1m
3.85%*$1m*-25 Month CD
OTHER TIERS: 3.70% $1 - $25k | 3.75% $25k - $100k | 3.80% $100k - $1m
3.60%*$1m*-36 Month CD
OTHER TIERS: 3.45% $1 - $25k | 3.50% $25k - $100k | 3.55% $100k - $1m
3.50%*$1m*-60 Month CD
OTHER TIERS: 3.35% $1 - $25k | 3.40% $25k - $100k | 3.45% $100k - $1m
3.40%*$1m*-48 Month CD
OTHER TIERS: 3.25% $1 - $25k | 3.30% $25k - $100k | 3.35% $100k - $1m
Locations

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