Popular Direct

Deposits held and insured by Popular Bank

Overview / Commentary
800-274-5696
85 Broad Street
New York, NY 10004
Deposits held and insured by Popular Bank

Related Posts

Drop In Savings Rate At Popular Direct - 6/3/2021

Popular Direct has dropped their rate to 0.45% APY on the Select Savings account, was 0.50%.

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12/17/18 - 60 Month Interest Rate Bumped Up Again
12/3/18 - Popular Direct Nudges Its 1 Year CD To 2.85% APY
12/3/18 - Popular Direct Plus Savings Now 2.36%
11/21/18 - Popular Direct Ups 12 Month CD To 2.81% APY, Minimum $10K
10/26/18 - Popular Direct Savings Rate Increase To 2.26%
10/24/18 - Popular Direct Pushes 5-Year CD APY Upward
10/18/18 - 5 Year CD Raised
10/10/18 - Savings Raised To 2.10%, $5K Min
8/16/18 - Popular Direct Credits Accounts to Correct Effective Date Mistake
7/24/18 - Popular Direct Ups Plus Savings Rate
7/23/18 - Popular Direct Implements 60-Day Account Freeze On New Accounts
7/21/18 - 5 Year CD Rate Increase To 3.25% APY
5/26/18 - Bad News - A 60-Day Account Authorization Hold May Be Placed On All New Accounts
5/17/18 - Popular Direct - Savings Rate Confusion
5/17/18 - Popular Direct Cuts Savings Rate To 1.85% Was 2.00%
5/16/18 - Popular Direct's 5-Year CD Leads Internet Banks
5/15/18 - Popular Direct Offering 3.05% APY On 5 Year CD
4/16/18 - Popular Direct Increases 5 Year CD Rate
4/2/18 - Popular Direct Ups Exclusive Savings Account Rate
4/2/18 - New 2.00% Savings Rate
3/7/18 - Popular Direct - 2.75% 5 Year CD Rate
2/28/18 - Popular Direct's Exclusive Savings Account Rate Jumps
2/27/18 - Popular Direct Offering New 1.65% Savings Rate
2/20/18 - Popular Direct's 18-Month CD Rate Climbs
2/3/18 - Popular Increases 18 Mo CD To 2.15% APY
1/17/18 - Popular Direct Ups Long-Term CD Rates And Adds New Savings Account
1/17/18 - Popular Direct Raises APY To 1.50% (was 1.4%)
12/13/17 - Popular Direct's 18-Month CD Breaks The 2.00% APY Barrier
9/25/17 - Popular Direct Boosts Plus Savings Account Rate
9/23/17 - Popular Direct Plus Savings, 1.40% APY
8/4/17 - Savings Rate Is Now 1.21% APY
7/3/17 - Popular Direct's Short-Term CDs Enjoy Top Rates
6/30/17 - One Year CD Rate Of 1.55%
6/27/17 - Popular Direct Raises 2-Year CD Rate
6/7/17 - Popular Direct Parent Bank Rescued By Santander
5/12/17 - 2-Year And 5-Year CD Rate Hikes At Popular Direct
3/27/17 - Popular Direct (Internet Bank) Ups 3-Year CD Rate
1/21/17 - Popular Direct Savings Rate Lowered From 1.26% To 1.15% Effective 1/4/2017
1/6/17 - Popular Direct’s 5-Year CD - Rate Leader for Internet Banks
1/5/17 - Popular Direct CD Issue with Listed Rates and APYs
12/6/16 - Savings Account The Older Product Still Has The Rate Of 1.26%
12/5/16 - Savings Account Rate Cut
11/14/16 - Popular Direct (Internet Bank) Raises CD Rates
8/5/16 - Popular Direct (New Internet Bank) Debuts 1.26% Savings Account

Just Read The Account Conditions Before Investing

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: |

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: |

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: |

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 Established1999
Employees622
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.37%
Return on Equity - YTD7.65%
Annual Interest Income$272.0MM
Assets and Liabilities
AssetsQ3 2021vs Q3 2020$10.34B$10.22B
LoansQ3 2021vs Q3 2020$7.60B$7.56B
DepositsQ3 2021vs Q3 2020$7.84B$7.68B
Equity CapitalQ3 2021vs Q3 2020$1.90B$1.79B
Loan Loss AllowanceQ3 2021vs Q3 2020$101.8MM$171.3MM
Unbacked Noncurrent LoansQ3 2021vs Q3 2020$22.8MM$43.5MM
Real Estate OwnedQ3 2021vs Q3 2020$1.5MM$1.6MM
Rates
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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.

Popular Direct Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.45%--Popular Direct Select Savings

Popular Direct CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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
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.