I have investments in a CD and Ultimate Savings Account with Popular and all has gone well. But then again, I read the conditions of the Ultimate Savings Account and understood how it worked before I plunked my money down.

So many of the complaining customers act so outraged when the bank treats their account exactly like they said they would - - in writing.

Yesterday I did a transfer from Popular to my external account and it was there this morning.

Yes, rates in a savings account can go down. That's the nature of a savings account. If you don't want that to happen, buy a CD.

The representatives on the phone have always been responsive and polite to me, likely because I'm polite with them. Try it.

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.

Watch Out!

Posted by: Nutgraf | Sep 2, 2016

Take a look at the very fine print on the account agreement before you do business with this bank. When you close your account, they DO NOT accrue interest to the closing date. That can get expensive if you don't pay attention.

No Notice When Your CD Is About To Mature-Hefty Penalty

Posted by: rahi | Jan 12, 2022

This bank didn't send me my 5 year CD maturity notice in postal mail/email even though I had opted for it. I realized it a week after it auto-renewed for another five years in a low rate environment. To close the CD I had to pay hefty $2000 penalty that was equal to total interest it earned me for last two years.

In some other reviews also I am seeing similar complains. Someone should file complaint with consumer financial protection bureau.

After calling customer service numerous times and after two internal requests over around 3 weeks, I was told first decision will be available within a week then again it got postponed to Monday and was told that on Tuesday they will have final decision on my complaint, only to be told on Tuesday by another customer service representative that sorry there is no time limit for internal investigation why you didn't receive your notice. I had to take the loss in same tax year and it was near year end so had to pay penalty and take it out. I regret wasting time with their customer service, if they don't intend to get back in time limit they should not lead customer on and waste their time.
Strongly not recommended.

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Health

A+

Data as of Q3 2021

Data displayed below is for insuring bank: Popular Bank

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	34967
Year Established	1999
Employees	622
Primary Regulator	FED

Profit Margin
Return on Assets - YTD	1.37%
Return on Equity - YTD	7.65%
Annual Interest Income	$272.0MM

Assets and Liabilities
Assets	Q3 2021vs Q3 2020	$10.34B$10.22B
Loans	Q3 2021vs Q3 2020	$7.60B$7.56B
Deposits	Q3 2021vs Q3 2020	$7.84B$7.68B
Equity Capital	Q3 2021vs Q3 2020	$1.90B$1.79B
Loan Loss Allowance	Q3 2021vs Q3 2020	$101.8MM$171.3MM
Unbacked Noncurrent Loans	Q3 2021vs Q3 2020	$22.8MM$43.5MM
Real Estate Owned	Q3 2021vs Q3 2020	$1.5MM$1.6MM

APY	MIN	MAX	ACCOUNT NAME
1.00%	$10k	-	5 Year Popular Direct CD
0.95%	$10k	-	3 Year Popular Direct CD
0.60%	$10k	-	4 Year Popular Direct CD
0.35%	$10k	-	2 Year Popular Direct CD
0.25%	$10k	-	18 Month Popular Direct CD
0.15%	$10k	-	3 Month Popular Direct CD
0.15%	$10k	-	6 Month Popular Direct CD
0.15%	$10k	-	1 Year Popular Direct CD

Popular Direct

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Just Read The Account Conditions Before Investing

No Problems With Frozen Account Or Transferring Money

Watch Out!

No Notice When Your CD Is About To Mature-Hefty Penalty

Data as of Q3 2021

Health Grade Components

Popular Direct Savings Account Rates

Popular Direct CD Rates