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

Popular Direct Rate Increases - 5/10/2022

Some positive increases are being advertised for CD's and savings rates at PD. Savings rate of 0.75% APY (up from 0.50%) is the most notable, numerous CD's have also jumped to the more competitive in the market at this time.

Popular Direct Nationally Available 2-Year CD Is A Rate Leader - 3/29/2022

Popular Direct (internet bank) has raised the rates on its 2-, 3-, and 5-year CDs to very competitive levels. $10k minimum opening deposit.

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11/1/19 - Popular Direct Again Cuts Savings Rate
11/1/19 - How Low Can They Go? Down Again
10/21/19 - High Yield Savings Drops YET AGAIN
10/7/19 - 10/7/19 Rate Reduced To 2.3%
9/9/19 - Savings Rate Drop 9/9/19
8/30/19 - Ultimate Savings Slight Rate Drop 8/30/19
8/1/19 - Popular Direct Unveils Ultimate Savings Account, 2.55% APY
7/31/19 - Ultimate Savings Account 2.55% APY
1/31/19 - CD Rate Reductions
1/30/19 - 5 Year CD Rate Drops Again
1/22/19 - 1 Year CD Drops To 2.73% From 2.85%
1/22/19 - Popular Direct Rate Decline - 5 Year CD
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.

Deceptive Practices

Posted by: |

I opened an "ultimate savings" account several years ago which had the highest rate at the time. I just found out that they changed the rate on that account and started advertising a "high yield savings" as their highest rate which matched the other banks. On their website there is no mention of the "ultimate savings" account that I had and I assumed they only had one type of savings account which was the one I saw advertised whenever I went to their site and on other websites. I finally realized when I saw my bank statement. How many other people don't realize they have the account with a slightly different name earning less interest? Very deceptive in my opinion. Like bait and switch. Closed my account.

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Health
A

Data as of Q1 2022

Data displayed below is for insuring bank: Popular Bank
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #34967
Year Established1999
Employees680
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.03%
Return on Equity - YTD5.75%
Annual Interest Income$95.6MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$10.58B$10.56B
LoansQ1 2022vs Q1 2021$8.47B$7.68B
DepositsQ1 2022vs Q1 2021$8.14B$8.10B
Equity CapitalQ1 2022vs Q1 2021$1.85B$1.84B
Loan Loss AllowanceQ1 2022vs Q1 2021$101.2MM$119.1MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$31.6MM$34.7MM
Real Estate OwnedQ1 2022vs Q1 2021$1.5MM$1.5MM
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

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