2. Popular Direct

Popular Direct


Overview / Commentary
www.populardirect.com
800-274-5696
85 Broad Street
New York, NY 10004

Related Posts

60 Month Interest Rate Bumped Up Again - 12/17/2018

New 60 month CD interest rate is 3.60% and other shorter terms may have increased as well.

Popular Direct Nudges Its 1 Year CD To 2.85% APY - 12/3/2018

Was 2.81% APY back on 11/21/18 Minimum $10k

Popular Direct Plus Savings Now 2.36% - 12/3/2018

Popular Direct Plus Savings Account APY increased to 2.36% with $5000 minimum deposit. WARNING: withdrawals from new account are forbidden for the first 60 days.

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Reviews (68)

Slick And Fast

Posted by: Gingerdusty | Aug 30, 2018

I worked for a couple of weeks trying to buy a CD from an institution that was paying .05% higher than Popular Direct and finally gave up. I went to the Popular Direct website and within 24 hours, I had filled out the application, confirmed the two micro deposits with my linked bank and the CD was purchased. Really well done website. These folks have their act together. Yes, it's a minuscule 0.05% less in the two year CD rate but the absence of brain damage is worth it!

9

No Issues While Closing.

Posted by: RP | Dec 20, 2018

I opened Savings account with Popular Direct around 18 months back. And recently, scared out of reading such bad reviews, i asked them to close the account and transfer the amount to account from where i transferred into this new Savings account.
They did not cross-question and transferred the money as asked. That was an experience as smooth as it can get.
Not sure why so many complaints. But now am even thinking to reopen my Savings account with them.

3

No Problems With Frozen Account Or Transferring Money

Posted by: susancar | Jun 21, 2018

Reading all these negative reviews about this bank ~ I panicked and tried to transfer $5,000 out a couple days ago. Just checked today and had no problems what so ever. I have had an account of some form with Popular Bank for a couple years now; I just keep opening up a new account when they offer better rates and transfer all but $500 until the old account has been opened 180 days to avoid the early withdraw fee... THAT is a pain, but I must say I have never encountered any issues and whenever I call customer service, I am satisfied with the service that I get. Their website isn't as sophisticated as others, but I keep getting the great interest rate which makes me stay.

17

Don't Send Money To This Bank Until You Read This

Posted by: vamai | Nov 5, 2018

Be very careful with Popular Direct's money market account. A few months ago they froze all accounts. Please look at all the complaints in the depositaccounts.com web site. Also look at the complaints filed in Consumer Financial Protection Bureau. Why should you care? Well the money you send them could be tied up for 60 days or more before you can get it back. (this is not a 2 month cd by the way - it is supposed to be a money market account) Mine was tied up for 90 days. This was the message on their web site……
Your security is important to us. That’s why, as of March 15, 2018, there will be a 60-day freeze on withdrawals for new accounts, starting with the date of account opening. Please note, your account will continue to earn interest during this time. Once the 60-day authorization period is complete, you may withdraw funds as needed…..


That may not be a problem for most people but if you are like me, I thought the concept of getting your money back on demand is a sacred policy of all banks. Think about that if you went to a local bank and they refused to give you your money back. It’s your money and you should not get an answer like “come back in 60 days”.

Do yourself a favor and investigate Popular Direct before you send them any money. They might just lower the rate that they are advertising right after you send them your money and worse of all, they have the right to freeze your assets (it’s in the fine print that they can do that).

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Health
A

Data as of Q3 2018

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #34967
Year Established1999
Employees696
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.66%
Return on Equity - YTD3.7%
Annual Interest Income$288.0MM
Assets and Liabilities
AssetsQ3 2018vs Q3 2017$9.39B$9.32B
LoansQ3 2018vs Q3 2017$6.62B$5.97B
DepositsQ3 2018vs Q3 2017$7.01B$6.56B
Equity CapitalQ3 2018vs Q3 2017$1.67B$1.84B
Loan Loss AllowanceQ3 2018vs Q3 2017$73.5MM$89.6MM
Unbacked Noncurrent LoansQ3 2018vs Q3 2017$133.6MM$126.5MM
Real Estate OwnedQ3 2018vs Q3 2017$3.1MM$2.3MM
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

60 Month Interest Rate Bumped Up Again

ddbrege   |  
New 60 month CD interest rate is 3.60% and other shorter terms may have increased as well.
21

Popular Direct Nudges Its 1 Year CD To 2.85% APY

SYC   |  
Was 2.81% APY back on 11/21/18

Minimum $10k
7

Popular Direct Plus Savings Now 2.36%

NewStar   |  
Popular Direct Plus Savings Account APY increased to 2.36% with $5000 minimum deposit. WARNING: withdrawals from new account are forbidden for the first 60 days.
8

Popular Direct Ups 12 Month CD To 2.81% APY, Minimum $10K

SYC   |  
Up to 2.81% from 2.77%
Minimum $10,000.00
6

Popular Direct Savings Rate Increase To 2.26%

Percussed   |  
Popular Direct is advertising a 2.26% Plus Savings Account rate up from 2.10%. I still have the "Exclusive" savings account at PD and it is showing 2.24% in my online account statement. I'm not sure why there is a small differential.
7

Rates

Rates for Popular Direct are currently being reviewed.

Locations

Popular Direct is an Internet only bank and does not have branch locations. Its headquarters is located at 85 Broad Street - New York, NY 10004

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.