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.
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.
After reading previous frustrating reviews of people who had matured CDs with Popular Direct, I decided to share the experience I recently had with this bank. Mine was not as horrible as other people’s who needed external transfers of matured CDs. It appears that Popular Direct, either deliberately, or through imprecise and inefficient procedures, delays to transfer matured CD.
I had given an advance instruction to this bank that my maturing CD be moved, on the maturing date, to my savings account in the same bank. The maturing date was Sunday, 8/9/2020. When I logged in my account, the matured CD was not transferred to my savings account, but it was automatically renewed after the last interest was posted on 8/8/2020. Since I could not transfer the money myself to my savings account, I called. I was told it would be done next business day. I did not see the transfer, I called 8/10/2020. Oddly, instead of just transferring the mature CD to the savings account right then, they said it will take 2~3 business days. It is simply moving my matured CD money to my savings account internally within the same bank. I was assured that my CD to my savings would be dated 8/9/2020 as I had earlier instructed. It was a substantial sum and even one day interest was not negligible. When I requested to talk with supervisors, they made me wait for more than 30 min to tell me a supervisor will call me back after wrapping up with another customer. They never called me back. I saw my CD transfer to my savings and dated 8/10/2020. I called and asked why the matured CD deposit to my savings account was not dated 8/9/2020. As I couldn’t get any straight answers, I wanted to talk to supervisors. This employee told me that she needed to request a callback and it would take 24~48 hours. I did not trust her this time and I insisted to talk to her supervisor. She said she was transferring the call to her supervisor but only to tell me that she couldn’t further tie up her line and ended the call. I have had accounts with various other banks but this is the first time I experienced something so evasive and abusive. I am still trying to decide what to do about this situation.
|FDIC Certificate #||34967|
|Return on Assets - YTD||-0.52%|
|Return on Equity - YTD||-2.96%|
|Annual Interest Income||$195.3MM|
|Assets and Liabilities|
|Assets||Q2 2020vs Q2 2019||$10.59B$9.72B|
|Loans||Q2 2020vs Q2 2019||$7.49B$6.90B|
|Deposits||Q2 2020vs Q2 2019||$8.16B$7.08B|
|Equity Capital||Q2 2020vs Q2 2019||$1.78B$1.78B|
|Loan Loss Allowance||Q2 2020vs Q2 2019||$162.7MM$67.5MM|
|Unbacked Noncurrent Loans||Q2 2020vs Q2 2019||$38.4MM$94.1MM|
|Real Estate Owned||Q2 2020vs Q2 2019||$1.7MM$2.6MM|
Always verify rates and promotions with the bank or credit union. We are not Popular Direct; we are a rate comparison website and cannot provide official rates or promotions.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|0.75%||-||-||Popular Direct Select Savings|
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|0.80%||$10k||-||5 Year Popular Direct CD|
|0.60%||$10k||-||4 Year Popular Direct CD|
|0.50%||$10k||-||3 Year Popular Direct CD|
|0.45%||$10k||-||2 Year Popular Direct CD|
|0.40%||$10k||-||18 Month Popular Direct CD|
|0.30%||$10k||-||1 Year Popular Direct CD|
|0.20%||$10k||-||6 Month Popular Direct CD|
|0.15%||$10k||-||3 Month Popular Direct CD|
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