Popular Direct Has 2.00% APY Exclusive Savings Account

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Deal Summary: Exclusive Savings, 2.00% APY on all balances, $5k minimum opening deposit

Availability: Nationwide (internet bank)

As DA reader, kxlly, noted in a Forum post today, Popular Direct is now offering 2.00% APY on its Exclusive Savings Account. The minimum opening deposit is $5k, although the minimum balance to earn the stated APY is only $0.01.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.00*%--Popular DirectPopular Direct Exclusive Savings - New Account Rate
Rates as of April 20, 2018.

The Exclusive Savings is the fourth savings account Popular Direct has introduced in about two years. Added in mid-January, its initial rate was 1.50% APY, which was raised to 1.65% APY in February. Its predecessor, the Plus Savings Account, was earning 1.40% APY when the Exclusive Savings was unveiled. Popular Direct has a history of creating a new savings account with a higher rate to attract new customers and/or new money, leaving the owners of the phased-out accounts stuck with a lower rate.

DA reader, iamaroc, stated this morning in the Forum thread,

I spoke to a phone rep today and was told that existing 1.65% rate will automatically be upgraded to 2.0% in one or two business days. Setting up a new account was not required for this rate bump.

I called Popular Direct to confirm what iamaroc was told, but I was unsuccessful. I was told by three different CSRs that unless I could provide a savings account number, they were unable to tell me if an existing Exclusive Savings Account (earning the 1.65% APY) would automatically earn the new 2.00% APY. All three CSRs referred me to the fine print on the promotion page, an indirect hint that existing accounts might not qualify for the new rate.

Annual Percentage Yield (APY) offer is available only for new Popular
Direct Exclusive Savings account opened effective as of 4/2/2018.

Bottom line, Popular Direct Exclusive Savings Account owners probably need to call to try to get their existing APY upgraded. The following is from my February blog post about the Exclusive Savings. I’m including it here as illustration of how Popular Direct has handled new rates in the past.

When I wrote about the Exclusive Savings in January, I reported that CSR confirmed that existing Plus Savings accounts would earn the same 1.50% APY offered on the Exclusive Savings. The operative word CSR used was “grandfathered,” as in the Plus Savings would be “grandfathered” into the Exclusive Savings and eligible for the new rate. DA reader, NYCDoug, was told the same thing:

I tussled back and forth with PopularDirect's Customer Service trying to get the 1.50% APY rate applied to my existing Plus Savings account. Initially I was told it would be "grandfathered." After patiently waiting over two weeks (to the end of the month, when interest posted) without receiving any rate increase, I was nonchalantly told that I had been misinformed, and that was not going to happen. I promptly opened a new Exclusive Savings account, easily transferring everything over except for a $500 minimum balance.

My interaction with CSR was over the phone, but NYCDoug chose another method.

All my communication with this bank was through their internal email, fully documented, including the two misleading pieces of misinformation about grandfathering, and fee-less closing. So after some more arguing I was at least able to get the $25 fee reversed.

Be careful with this bank. Due to grammatical and spelling errors in their emails, in addition to the misleading information, I get the sense that there are internal communication problems, as well as linguistic barriers, and everyone is not on the same page. Whatever you do with them, I suggest you use their internal email system, and get it in writing -- just in case you need to refer back to it!

Caveat emptor.

I would like to thank all the DA readers for their Forum posts about their experiences with Popular Direct. The better informed we are, the better decisions we can make.

Exclusive Savings Account Facts

The Exclusive Savings Account Disclosure provides important information about fees and policies. FYI – none of the information on the Account Disclosure has changed since I cited it in my February blog post.

  • Minimum opening deposit is $5k
  • $4 monthly service fee if the balance on any day is below $500.
  • $25 early closing fee if account is closed within 180 days of opening.
  • $5 monthly dormancy fee if there has been no activity for 12 months.
  • Withdrawals only allowed via an external account, internal transfer to another Popular Direct account, or ACH.
  • $5 fee for each additional debit exceeding the limit of six per statement cycle.
  • Deposits only allowed via an external account, internal transfers to another Popular Direct account, ACH, or Popular Direct mobile app.

Availability

An online division of Banco Popular North American, Popular Direct’s website states,

All Popular Direct deposit products are offered by, and will be opened through, Banco Popular North America (BPNA). BPNA is a Member FDIC institution and a New York state chartered bank.

Opening an account with Popular Direct, including the Exclusive Savings account, must be done online.

Bank Overview

Popular Direct/BPNA has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 7.81% (excellent) based on December 31, 2017 data. In the past year, the Bank has increased its total non-brokered deposits by 621.17 million, an excellent annual growth rate of 10.91%. Please refer to our financial overview of Popular Direct/BPNA (FDIC Certificate # 34967) for more details.

BPNA was also the holding institution for E-LOAN, but on May 15, 2017, all E-LOAN deposit products became Popular Direct products. BPNA is currently the 12th largest bank headquartered in New York, with assets in excess of $9.1 billion and more than 233,000 customer accounts.

In June 2017, The New York Times published an article about Santander’s takeover of the failed Spanish bank, Banco Popular. The similarity in names caused a DA reader to express some concern about BPNA. To quote myself from a Forum post,

Popular Direct is a division of Banco Popular North America, which is a subsidiary of the Puerto Rico-based bank holding company, Popular, Inc. I can find no connections between Popular, Inc. and the Spanish Banco Popular.

How the Exclusive Savings Account Compares

When compared to the 200 Personal Savings accounts tracked by DepositAccounts.com that are available nationwide, Popular Direct’s Dollar Exclusive Savings APY currently ranks first.

Interest RateAccount NameCredit Union/Bank
2.00% APYExclusive Savings (no min)Popular Direct
1.85% APYeOne Savings ($1m max)Salem Five Direct
1.80% APYDollar Savings Account (no min)DollarSavingsDirect

The above rates are accurate as of 4/2/2018.

To look for the best Savings account rates, both nationwide and state specific, please refer to our Savings Account Rates Table page.

Related Pages: New York savings accounts, Miami savings accounts, savings accounts, nationwide deals, Internet banks

Comments
RichReg
RichReg   |     |   Comment #1
HOLY CRAP!
ACHs initiated by other banks are honored without restriction, only $500 minimum is required once initial funding is complete and there's no maximum dollar cap. Your move Dollar Savings Direct.
ckawaja
ckawaja   |     |   Comment #2
This is only for new accounts....AND they'll charge you $25 if you close the account within 6 months. The only downside I see is if they suck you in with a high rate and then don't keep it up as other banks move their numbers up. I'm probably moving my account today anyway because of this. Pretty impressive rate.
RichReg
RichReg   |     |   Comment #5
They'll have a hard time charging you anything if they're honoring other bank's debits. Yes, they could leave your account in a $25 debit, however, not likely.
I don't really see anybody DROPPING rates right now...? , how much higher can a liquid savings account go, I mean, worse come to worse just leave $500 in for awhile. Just my $.02.
ckawaja
ckawaja   |     |   Comment #13
RichReg, it depends a bit on how promotional they are. Apparently DollarSavingsDirect does this a lot, they lure you in with high rates then drop it.
RichReg
RichReg   |     |   Comment #48
Unlikely in this environment. What bank has dropped their rate in the past six months? At least here, you can always withdraw your money via ACH into another interest-bearing account if you have to. Can't do that with Dollar 'cause you are restricted. No, the worst that can happen here is that some bank goes higher than 2%.
joe
joe   |     |   Comment #3
This beats any big name bank and their low savings/money market 1.5% or so rates. I'll be opening an account asap.
Att
Att   |     |   Comment #4
Why do they have to play games with fees and different names for the same account? I'll stick with Dollar. No games or fees with Dollar. Let's see if Dollar matches or beats Popular.
RichReg
RichReg   |     |   Comment #6
Dollar won't charge you any fees, but they won't stop overtaking control of everything either.
It's annoying if you want to take advantage of some other promo.
joe
joe   |     |   Comment #7
I hope DSD also ups Popular. I'm still opening up Popular to get my funds out of a lousy 1.5% account.
mickey12
mickey12   |     |   Comment #8
Can anyone share their experience about following things:
Ach initiatiated through their website or ach initiated from another finacial institution regarding large deposit. If they put any hold or how soon they make funds available.?
i see that they allow only one outside bank to connect through BPNA but is there any limit to connect my account at BPNA from outside banks?
When you deposit a check using their app, is their a limit on the amount on a single ckeck or when they make the funds available?
RichReg
RichReg   |     |   Comment #49
Please see my first post. Popular allows and honors ACH debits and credits initiated by other banks. The limit is $1 million. Only when you use their ACH service are you subject to the single external account and other restrictions. And the funds are available immediately once the ACH is complete, meaning there is no hold.

Regarding mobile deposit there is a $2500 per check limit. As long as the account holder names match, funds are also available immediately. The dollar limit per day however, is $10,000 or up to 4 checks.
Nothing
Nothing   |     |   Comment #50
Limits "that are higher" are discouraging...from many facets...they shut out the "little folks" and creates unnecessary risks to ALL members when large deposits (with or w/o a large EWP) are withdrawn. Then again, the $50k max that just expired by Navy Fed lets the small folks get in on the action notwithstanding administratively somewhat burdensome...but most are existing members and thus a no effort needed to open accounts for new members. My 2 cents
Tightwad
Tightwad   |     |   Comment #9
I don't think it's worth it to chase rates on mm's....chances are your online bank will increase soon enough. It may not be the very best but close. If your current bank wants to stay competitive then they will increase as well. To me it's just not worth the hassle of chasing. Pretty soon you will find out your original bank is higher than the one you're with now!
DCGuy
DCGuy   |     |   Comment #10
I have been seeing the same scenario with money market mutual fund rates between companies. Several months ago, one fund was at the top. Now it is in 6th place. At least with money market mutual funds, there is no account closing fee if held less than six months.
pattyb53
pattyb53   |     |   Comment #11
I'm going to give this one a try. I've been using Ablebanking 1.70% liquid savings for a while, which has been ok. Now that I see Popular Direct 2%, I've got to make this change.

Since I notice that new accounts, (which I am) opening looks quite simple. I don't see a downside to the opening process. 2% looks very impressive!! We will see...
deplorable 1
deplorable 1   |     |   Comment #12
Great rate but I have been through this a few times with this bank where they pull the old emigrant direct nonsense of having to close and open a new account to get the rate hike. GM right notes now pays 2% on their $50,000 tier level. I know this isn't FDIC insured but you can also do unlimited ACH withdrawals to pay bills.
ckawaja
ckawaja   |     |   Comment #14
who is GM?
ckawaja
ckawaja   |     |   Comment #16
I figured this out. BTW Mercedes Benz pays 2.5% for similar demand note.
Att
Att   |     |   Comment #17
Looked at the MB notes and thanks for the info. You have to meet certain income and net worth requirements:
A natural person with individual income exceeding $200,000 in each of the two most recent years and with a reasonable expectation of reaching the same income level in the current year; or who has an individual net worth* that exceeds $1 million at the time of the purchase;

A natural person who has a joint income with that person's spouse exceeding $300,000 in each of the two most recent years and with a reasonable expectation of reaching the same income level in the current year; or who has a joint net worth* with the person's spouse, that exceeds $1 million at the time of the purchase;

The income method will require annual data (W-2, 1040, …) upload annually, and a simple confirmation quarterly that you still have the same level of income

Net Worth: Individuals will be asked to share their net worth (excluding their primary residence) through a user-friendly online form and upload supporting asset statements with proof of ownership, an evaluation date, and the value of the asset. As noted above, the value of your primary residence is not considered an asset, but if you owe more on your mortgage than the value of your primary residence, that difference will count as a liability.

InvestReady will obtain a copy of an individual's credit report from one of three major credit bureaus in order to accurately verify an individual's liabilities.

Obtaining the credit report will not affect the individual's credit score. All asset verifications require a credit report to be reviewed
Tightwad
Tightwad   |     |   Comment #22
Ridiculous. Who would bother with this for some measly extra rate? No.
atikovi
atikovi   |     |   Comment #52
1.85% vs 2.00% is over $30 a month at the FDIC insurance maximum. That's a week of going out for lunch.
deplorable 1
deplorable 1   |     |   Comment #41
I looked into the MB notes a long time ago and I didn't meet their steep income requirements. I'm wondering what they do with all that personal information(besides trying to sell you a overpriced car). I'm guessing they make money selling your information to their "partners" so get ready to get slammed with emails and unsolicited phone calls at dinner time. Still 2.5% on liquid cash is pretty spectacular providing you could use it as a bill pay account as well.
Att
Att   |     |   Comment #18
Thanks for the info on MB notes. They have eligibility requirements that include income and/or net worth. You also need to submit supporting documentation (ex 1040's, 1099's) on an annual basis (For income) . They also require a credit check.
Amos
Amos   |     |   Comment #20
No thanks.
DCGuy
DCGuy   |     |   Comment #30
GM stands for General Motors. They have a Right Notes investment program that is now offering a 2% APY for at least $50K balance. You can read about the program on this link.
https://www.rightnotes.com/
GM used to have a Demand Notes program several years ago that was replaced by the Right Notes program. It is a non-diversified investment, so is not like a mutual fund.
Tightwad
Tightwad   |     |   Comment #37
And GM completely $_&#ed their bondholders a few years ago....think it can't happen again?? Ridiculous. You can get just as good a rate and have FDIC insurance. Why would anyone invest in this????
deplorable 1
deplorable 1   |     |   Comment #40
@Tightwad: Because some of us like myself use these accounts as a checking account to pay bills. You earn a top tier rate without debit card hoops or the 6 withdrawal per month ACH limit that is imposed by most FDIC insured accounts. I use 2-5% cashback credit cards so debit cards with no rewards are a losing proposition for me. They also have a record of keeping their interest rates high without having to endlessly switch accounts. I realize that there are risks involved and that they are not for everyone. I had the old GMAC demand notes for decades and never lost a dime while earning CD type rates on liquid cash. I wasn't trying to start a war just suggesting that there was another option to earn 2% for those who are interested.
deplorable 1
deplorable 1   |     |   Comment #44
@Tightwad: Agreed that was total B$ what happened to GM bondholders and YES it could happen again but those who had the old GMAC Demand Notes lost nothing. My point is that it's not exactly a fair comparison.
King1is
King1is   |     |   Comment #33
I see no logic in doing these notes. You lose FDIC protection, and you are exposed to the risk of a single issuer. If you want to reach for yield you are far better off with the small volatility created by something like ticker MINT or LDUR which hold yielding assets not just from car companies but banks, commercial paper, and the US government. MINT yield is 2.01%, LDUR is 2.70%, and neither in its history has deviated from its price more than 1.0%.
thowellIII
thowellIII   |     |   Comment #34
King1is: LDUR did decline in price by 3% over a 2.5 month period (end of Nov 2015 to mid-Feb 2016). I'm not saying that the GM or MB demand notes wouldn't also risk losses, but want to make clear to others something that you acknowledge implicitly (stating that there would be some volatility) that the alternatives you have listed may lose money for investors.
King1is
King1is   |     |   Comment #36
Thowell thanks for clarifying.... Yes there is risk of principal but probably less risk of total principal loss...
Tightwad
Tightwad   |     |   Comment #21
Why mess with something that is not FDIC insured for a tiny bit of extra return?? I have never understood why people do this. Geez who cares about a few tenths? So not worth it!
deplorable 1
deplorable 1   |     |   Comment #42
The tier levels for the GM right notes are:
Under $15,000 1.75% APY
$15,000-$50,000 1.85% APY
Above $50,000 2.00% APY
All the tier levels are pretty high so if you are really worried about FDIC insurance coverage you could just keep the $500 minimum plus bill pay money in there. You can ACH your money out quickly in the event of some bad news on GM. These accounts eliminate the need to have so many money market and savings accounts open. There is no right or wrong just another option to consider. Obviously you wouldn't want to keep all your savings in a non FDIC insured account but for a small portion I don't see a problem.
Lrdx
Lrdx   |     |   Comment #43
" You can ACH your money out quickly in the event of some bad news on GM. "

Wishful thinking. By the time you get the bad news, your withdrawal possibilities will be cut off.

These accounts should be treated as risky investments, because they are just that: corporate bonds. And corporate bonds are the riskiest kind of bonds.
deplorable 1
deplorable 1   |     |   Comment #45
Well everyone said the same thing about the old GMAC demand notes as well but I beat MMA rates for decades and never lost a dime. There were no tier levels back then though. I took my balance down to $1,000 during the GM bankruptcy news just in case and then they changed to Ally.
Lrdx
Lrdx   |     |   Comment #63
I'm not saying it's a bad deal, I'm just prepare to potentially lose part of that money, and/or accessing it for a long period: Protect yourself by diversifying.
deplorable 1
deplorable 1   |     |   Comment #55
@Tightwad: Many people on here go over their FDIC coverage limits with CD's(something I never do). In my opinion THAT is much more risky than losing money in one of these corporate debt accounts. In fact I'm not aware of anyone ever losing money in these demand note accounts but many people have lost money by exceeding their FDIC insurance limits when a bank fails.
Tightwad
Tightwad   |     |   Comment #57
Fair enough and might work for your situation.....just seems like you can get just about the same thing and same benefits if you look hard enough while still having FDIC......
Att
Att   |     |   Comment #64
Obviously it is not a good idea to go over the FDIC limit and there really is no reason to do so. Even if you are over the limit when The FDIC takes over a bank they arrange a merger with another with no loss to your accounts. The notes are subject to risk and are not secured. They really shouldn't be compared to FDIC compared to bank accounts.
RJM
RJM   |     |   Comment #68
I fail to see how going over with a stable bank or cu is more risky than something with no insurance. I went over briefly with Ally but am now well below the limit. Was considering going over at NASA but the deal ended and now with Popular, the premium just is not enough to justify.

Has anyone who went over on the limits lost money without the bank or cu going bust?
deplorable 1
deplorable 1   |     |   Comment #73
I think it is possible to lose anything over the limits or get paid pennies on the dollar depending on the circumstances.
https://www.depositaccounts.com/blog/bank-failures/#comments
http://problembanklist.com/depositors-lose-42-million-in-failed-bank-is-my-cash-safe-in-the-bank/
I couldn't find all that much info on the web about this. My guess is that banks don't want you to know how real the risk of loss is above the coverage limits. I even make sure to include any and all accumulated interest over the CD term in my calculations for coverage to stay under the limit at all times.
2+2=0
2+2=0   |     |   Comment #46
GMAC was sold before the GM bankruptcy, just in time to avoid wiping out the GMAC holders, the rest of bond holders got 100% wipe out, next time around, you may not be that lucky. The GM is controlled by the union mafia guys, I would avoid GM notes as plague.
Every bank and CU has checking account that can be attached to the saving account, the transfers are instantaneous and you can pay unlimited number of bills for free. Much safer and smarter move.
deplorable 1
deplorable 1   |     |   Comment #53
0+0=0 Yeah a 0% APY checking vs. 2% APY x $50,000 = a extra $1,000+ a year vs. a traditional checking account. I like earning interest on the 30 day credit card float plus 2-5% cashback. You just can't do that in a traditional checking account with debit card hoops.
2+2=0
2+2=0   |     |   Comment #56
#53, which part of attached savings with checking account did you miss in the post #46?
Tightwad
Tightwad   |     |   Comment #58
I can get anywhere from 3% to 5% cash back with various credit cards on most purchases.....and bare minimum 2% cash back. Several different cards but it's not a big hassle.....GM is probably fine.....but FDIC insurance is worth probably 2% return to me.....at least. Not a fan of risk.
Att
Att   |     |   Comment #66
I pay most bills with charge cards. I rarely right checks. Large bills like Mortgage and most used charge card pulled from a savings account. Other bills are either bill pay or payments made at a web site that are pulled on the due date.. I pull overnight the funds from my savings account when bills need to ne paid. No stamps, check writing or going to the post office. All FDIC insured. The notes and bonds are only as good as the credit rating of the issuer and are non secured. GM is in cynical insustry and right now they are selling trucks. If gas prices go up GM will have some major problems.
aaa
aaa   |     |   Comment #15
YES !!!

... After a long long time we have 2% rate ....

... Don't have a problem with rate-chasing ... worst case scenario if other bank exceed 2% will leave $500 with popular for 180 days and chase others ...

... Ooops did I say "worst-case" for other banks exceeding 2% ... Nah ... that's no worst case at all !!!
Stormy Daniels
Stormy Daniels   |     |   Comment #19
I opened up a Popular account tonight, on the application, I picked my occupation and the site said it was invalid. Almost gave up but I tried "secretary" and it worked.
steve212
steve212   |     |   Comment #28
Same thing happened to me. And then when it came time to read and agree to the "online-agreement" and "esign-disclosure", they linked me to docs that don't exist (error not found) because they had typos in their hyperlink URLS.... I don't think they tested their own website to make sure it actually works. This is the same bank that charged me an inactivity fee and claimed my account was dormant for a year even though I had been logging in and transferring money every month or two. But for 2.0 percent I'm going to give them another chance.
anonymous
anonymous   |     |   Comment #23
The rate is great, but it is sad that the banks that can offer the best rates are the ones playing the games with frequently creating new accounts (Popular Direct) or even creating new banks (DollarSavingsDirect).

I feel like I do not want to support or encourage this marketing strategy with my deposit money.
Tightwad
Tightwad   |     |   Comment #26
Unless it's some really great deal I'm not moving. As I said above my current bank will likely increase soon....plus you end up losing some interest during the transfer process. And be careful folks....some banks will fund by school but not pay interest for days.....one bank did this to me for a week. Made me so mad and was a lot of money. Bank claimed it was in la-la land of ach. Liars. They had my money and we're earning interest on it. Infuriating.
Tightwad
Tightwad   |     |   Comment #27
Fund by school??? I hate this device.....I meant fund by ach!! Sorry
RichReg
RichReg   |     |   Comment #65
Yes..(sob-sob)..it's heartbreaking. I hope you realize where this and parts of other industries are all headed due to globalization? In the meantime, don't worry, you can still get up to 4 times less at brick and mortar institutions.

BTW, the Internet counterparts of these banks are run by the same management and offer the same FDIC insurance;;these just have MUCH lower expenses and overhead.
anonymous
anonymous   |     |   Comment #92
RichReg, what would be really heartbreaking is if I'll have to sift through a mess of "Capital One", "Capital Two", "Capital Three" banks some day to check the rates on my "360 ", "361" or "362" savings accounts.

I very much appreciate that there's only one Capital One bank with only one 360 savings account that I've opened 12 years ago and still has decent interest rates. (Full disclosure, I mostly use the higher-yielding 360 money market account now.)
RJM
RJM   |     |   Comment #94
I was a HUGE fan of ING Direct. Capital One charged me an unjust late fee about 25 years ago, I had never been late before and they refused to remove it. I closed the account, paid the fee and swore them off for life.

However, I still maintain 1 cent in both accounts.

And occasionally, I will do a billpay thru them. Because the one thing they do great is the way their overdraft works. As long as you start a transfer in at the same time as the payment clears, you wont owe a dime in late fees.

So, I refuse to do any material business with them.
anonymous
anonymous   |     |   Comment #101
RJM (re comment #94), thanks for your perspective. When Capital One acquired ING Direct, I was initially quite worried that they will **** it up. So far I've been mostly positively surprised that Capital One has embraced the ING Direct strategy for their overall direction that they are taking their banking business in; and that they have made few changes except the name and color. Being able to have some local access to the online account is definitely a plus. Also, ACH pulls into the account appear to post next business day (before the withdrawal is actually initiated at the sending bank), although the funds are only available several days later.
RJM
RJM   |     |   Comment #104
I don't have any capital ones near me except a mortgage office on the other side of town. But, a local branch is not a big deal for me.

Mainly, I think they have a lot of my old billpays set up and my Ally account did not have the info for one card I hadn't used much until recently. So I whipped over there, made the billpay, and pulled the money from another account. I see no reason to keep much money with them because they are not a rate leader.
And, Im going to probably stop using Ally & Discover for the same reason.
I have a fairly new All American money market that I will probably use as my primary checking. 6 transactions is enough for me. And then I will have more money at the new leader, Popular, if I can get it there without pulling teeth.
RichReg
RichReg   |     |   Comment #95
Capital One, while offering the convenience of accessing their Internet products through a local branch, do not have the most competitive rates or deposit products. (Well, maybe some of their CDs are OK). They're about the only bank that offers that convenience, BTW.
So one of the reasons they can afford that convenience is because they're not paying you 1.8 or 2% on their Savings;; they pay 1%, while their MM pays 1.5% (with restrictions on features).
anonymous
anonymous   |     |   Comment #102
RichReg, I agree that 1-1.5% is not the "most competitive" but in the big scheme of things, Capital One is very competitive with other large (online) banks such as Ally, for example. And, as you noted, much more competitive than anything else I have available with branch access. Plus, no games with frequently creating new accounts that get the best rate.

In my area, they built up a sizable branch network over the last 10 years and have since been shrinking/automating the branches and are now opening cafe's. If someone else's caffeine (or sugar?) craving can help supplement my 1.5% rate, I really don't mind that. :)
DOA
DOA   |     |   Comment #103
Again, Capital One 360 will not allow you to designate POD beneficiaries. Until they start doing this, not interested.
gregk
gregk   |     |   Comment #24
May close shop now on all my 2% RCA's. FI 's showing no real commitment to these accounts by and large with rates not budging (very few exceptions).
RJM
RJM   |     |   Comment #25
exactly my thought. Not thrilled with several things about this bank but the rate makes up for them.
King1is
King1is   |     |   Comment #38
What is an RCA?
gregk
gregk   |     |   Comment #39
Rewards Checking Account
ashok
ashok   |     |   Comment #29
do they do a hard-pull or soft pull for the savings account opening ?
2+2=0
2+2=0   |     |   Comment #47
They did hard pull on me, but I also opened CD account too. That was 6 months ago.
111
111   |     |   Comment #54
OK - it's a bit curious re. why they would do a hard pull on you for "opening up a CD account too", and nothing more - after all, YOU are loaning THEM the money, not the reverse. If anything, YOU should be requesting a "hard pull" on THEM, for Chri*t sake, were it not for FDIC insurance - but anyway.... This whole thing about "hard pulls", at least in reference to opening up CD and/or savings accounts with insured financial institutions, is inane, in my opinion.

In the recent Sharonview 4% CD offer, I asked this forum multiple times - and received no clear-cut answer, at least so far - "did you receive a "hard pull", and if so, from whom"?

Some said, earlier, that they did get one, and they knew this because their CreditKarma told them so. (CreditKarma pulls from TransUnion and EquiFax only)

Well, I received no such info from my CreditKarma account. In other words, according to them, no hard pull. So... I have to assume that at least in the case of this credit union, there is not, shall we say, a "consistency" in deciding whether or not to do a "hard pull" for incipient new members. And, it's likely that this is true of other financial institutions as well
2+2=0
2+2=0   |     |   Comment #59
#54, I guess opening with large sum of money in a new account(s) triggers an automatic hard pull at any one of these:
Nationwide Credit Reporting Companies:
CSC Credit Services
Credit Technologies
Equifax
Experian
Global Payments
Trans Union
It may be a random hard pull at some persons do to Federal regulations or the personal previous flags in the consumer file entered by other lenders or banks. The consumer(s) see(s) only a partial report, but the CUs and the Bank(s) have access to a full history of our lives, from birth to present and it may be 100s of pages long.
That info may be used to cross sell us some other products or just share it with affiliates, banks and or CUs for a fee. We all have a hidden grade (besides FICO score) in our credit files.
Nothing
Nothing   |     |   Comment #61
Source of info is?
2+2=0
2+2=0   |     |   Comment #62
#61, I got the info from a friend who works on risk analytics services at:
https://getassistance.telecheck.com/home.html
deplorable 1
deplorable 1   |     |   Comment #81
@111: I totally agree with you about the hard pull when you are essentially loaning THEM your money. Yet I have had a hard credit pull done at nearly every credit union when opening a account and even a few banks. I was not applying for credit or a loan but just depositing money with them. A soft pull is all that should be required but apparently nobody is tracking this. Taking a credit score hit for opening a bank account or CD is just wrong.
RJM
RJM   |     |   Comment #31
I tried. From 2 different accounts. It won't accept any account number I enter.

And its not an immediate transfer, its a wait for the deposit thing.

I had no choice but to leave in the middle of the application.
NYCDoug
NYCDoug   |     |   Comment #32
I have a pleasant surprise to report (unlike the last time I went through this upgrade) -- no begging required!

Just now I logged into my Exclusive Savings account (opened several months ago) and, clicking the link to "view account/rate information" I happily discovered:

Last statement APY earned: 1.65%
Interest rate: 1.98%

An automatic APY upgrade! So somewhere in the back office it seems they're finally starting to get it ;-)
#35 - This comment has been removed for violating our comment policy.
joe
joe   |     |   Comment #51
on POD's - they allow 3, must be equal %, and no charities, which kills it for me.
RJM
RJM   |     |   Comment #60
Tonight I was about to complete the application but I still have to wait for the stupid 2 small deposits which will delay my transfer. And by then, I will want to increase the amount because I have a CD expiring Thursday.
pattyb53
pattyb53   |     |   Comment #67
Opening this account has gone very well. I first noticed Popular Direct 2% savings here Monday 4/2. Application started, & today 4/4, 2 small deposits are showing up. Completed, so $5k should show up in account soon.

Trying to reach them by phone takes a bit of time. I needed to get the routing # to connect another account for ACH funding. I have a CD that matures tomorrow, so I will be adding funds to this account. Great timing!!
RJM
RJM   |     |   Comment #69
How many accounts can i LINK for transfers in via popular? I will need to move money in from CUs who do not have ach "push" capabilities.
RichReg
RichReg   |     |   Comment #71
Only 1, unfortunately. And it has to stay the same for 2 months.
unmesh
unmesh   |     |   Comment #70
ABA routing number is 113007835
RJM
RJM   |     |   Comment #74
thanks. I guess it gave me an account number so I should be able to start transfers from elsewhere, right?
Will it let me change the amount of the initial deposit after I confirm the 2 small transactions?
Tom
Tom   |     |   Comment #75
Can you confirm no hard pull?
Tom
Tom   |     |   Comment #76
No hard pull right?
RJM
RJM   |     |   Comment #77
I cant be sure for Popular. But I recently (A MONTH AGO) opened one at All American and a local Credit union and neither dinged my score even 1 point so I don't think there was a hard pull.
But, even if it knocked off 15 points, it wouldn't ruin my life. My scores at CK are 827 & 828 and I doubt I will even need another loan in my life. But I might sign up for an amex. (Been saying that for a couple years and still have not done it)
larry
larry   |     |   Comment #72
Well, I'm in Ally with their 1.75% no penalty CD's and can't make a case for 25 basis points in a rising rate environment.
RJM
RJM   |     |   Comment #78
I'm going to move my final 2 no penalty's when this one gets open and my links established.

On my $75k, that .25 is $15.62 a month.

I asked Ally again recently for a better deal or matching others and they told me, again, to pound sand. So I can't wait to move money out of Ally. In fact, I think I have a couple of 2.25% 5 year that I should probably close too. Waiting for a 2.25% savings I guess.
King1is
King1is   |     |   Comment #79
How long do we think until other banks raise their savings rates? If it's a few weeks likely not worth it. But a few months... Maybe I'll arbitrage
RJM
RJM   |     |   Comment #80
I thought the move to 2.00 would have taken a few more months. I was mad that NASA ended their 2.25% 11 month because I was going to move more in there. But In hindsight I'm glad I didn't now because .25% premium is not worth it for an 11 month lock.
RJM
RJM   |     |   Comment #82
Got my test transactions this morning just in time and I was able to set up an additional transfer to pull out the entire proceeds of my CD that expired today. Did not see any place for POD.

I guess the ACH push from Ally will have to wait until next week. But will have to get the process started tonight.

Cant find my full account number. Cant edit my 2nd transfer amount.
unmesh
unmesh   |     |   Comment #83
You need to send customer service a Secure Message with the name/SSN/relationship of your POD beneficiaries

I need to ask them if setting up links from other banks will violate the 6-withdrawals-per-month limit or whether they will waive if given the context.
RJM
RJM   |     |   Comment #84
I figured out how to edit the transfer. Still cant find my full account number.
Is it anywhere or do they send it by mail?
RJM
RJM   |     |   Comment #85
website seems buggy. Part of it is my learning curve Im sure.
unmesh
unmesh   |     |   Comment #86
Checked with Customer Service and there is no way on the website to display the full account number. You have to call them and authenticate yourself and they will read out the number to you.

They said they would consider waiving the too-many-withdrawals fee as a courtesy but would not commit to it.
RJM
RJM   |     |   Comment #87
I could not get them on the phone without an account number.

Are they open after hours? I imagine not. And Florida is probably eastern time zone.
RJM
RJM   |     |   Comment #89
24/7 customer service but have not responded to my email of 2 hours ago.
Ok, got thru,. and got my number. I get the feeling most of their customers are Spanish but the girl I talked to was probably born here, probably speaks both.

I guess they are ready for some trial deposits.
RJM
RJM   |     |   Comment #90
Set up trial deposits from Ally & All American. AA sadly, uses 2 transactions to pull their money back out. Ally, might only be one, I cant recall.

In any event, I think these are all I need for now. Wish Popular would let us link a half dozen on their end. But these two and then another at Penfed by June should be enough for me. And I probably wont need any withdrawals this month.

The All American account becomes obsolete with this account. But hoping they raise theirs to match Popular. If not, I might just use it as my low balance checking account.

Ally & Discover, I guess Im going to withdrawal most everything I have left.
unmesh
unmesh   |     |   Comment #97
Yes, Ally makes two deposits and one withdrawal.

Purepoint is great for ACH linking since, for many financial institutions, you have the option to link instantly by providing your login credentials.
John
John   |     |   Comment #111
Do you mean you have to log onto your popular account and verify the two small deposit amounts that went to your external account?
numberten
numberten   |     |   Comment #88
Very hard to open the account. I have tried to apply for this a couple of times. Every time the online system doesn't accept the application and directs to the customer service. The customer service cannot help and just ask me to apply again. Since online is the only way, I guess I won't be opening this account. Oh well!
RJM
RJM   |     |   Comment #91
I had a similar problem but finally got past it. It didn't direct me to customer service, it just would not accept my account number or routing number. It wont let you copy & paste them in unless you remove a number and add it back. I just kept fiddling with it the next day and got it to work.

Im glad I powered thru it. But, I suspect within a month we will have others approaching this rate.
The more of us move money, the more they notice.
rzelman
rzelman   |     |   Comment #93
I encountered the same issue. Make sure that your address matches exactly how it is on you drivers license. That fixed it for me and allowed me to open the account. Micro deposits showed up in two days and I was immediately provided with an account number.
pattyb53
pattyb53   |     |   Comment #96
Successful opening!! Small deposits verified, $5k showing now in online account.

I applied on Monday 4/2, Friday 4/6 completed. You must not give up when you hit a snag. On the first day I could not get the employment showing, kept showing error. I called the number & the rep told me to just pick one that will go through. I did & continued on with the application. Next day, e-mail instructed me on verification of small deposits. Next day e-mail gave me the account #.

Popular Direct 2% liquid savings is best deal going today. (who knows tomorrow)
RichReg
RichReg   |     |   Comment #108
Might I ask the timeframe(s) for the ACH?
If you verify the trial deposits on Day 1, on which day is your external account debited?
RJM
RJM   |     |   Comment #109
I did my trial deposit and transfer from ally on 4/6. It was debited from Ally on 4/9. On 4/6 I did a small $500 deposit from Ally and it hit Popular the same day.

Only the $500 is available. The larger amount is not available yet and it does not say when it will be.

The problem with the transfer from Ally is, they debit my account right away and send it the next day so I lose a days interest. I did the $500 hoping it would allow me to move the larger amount out without a day lost but it did not.

This move to popular has been more trouble than they are worth. Ditto for All American. Getting money out is like pulling teeth. But they say I can do it via billpay. I wonder how much interest I would lose doing that?
RichReg
RichReg   |     |   Comment #110
To clarify, I'm asking about using the Popular ACH service, not your external account's service. So if your initial deposit FROM Ally was debited on 4/9, was it also credited to Popular on 4/9?

It's not uncommon for banks to put a hold on ACH deposits for a few days when using their service. As you stated, when you use Ally the funds are available right away.
John
John   |     |   Comment #112
I am confused with what you are saying here. Did you initiate the transfer from Ally or from Popular? You said 'On 4/6 I did a small $500 deposit from Ally and it hit Popular the same day.'. This looks you didn't lose interest?
RJM
RJM   |     |   Comment #113
The lost interest was on my transfer from Ally to my linked credit union. Ally pulled the money instantly and it did not show at the credit union until the next day.

On a larger amount, 76,000. Then the linked RCA does not pay any interest on balances over $15,000 so I think I lost 3 days interest in all.

Initially, I intended to pull $15000 out of 2 local RCAs that only pay 2% but the 10 transactions a month is actually easier than transferring the money to ally and then from ally to the one different credit union that is linked to popular.

Im going to run into this again in July when another CD matures from Penfed. Im going to have to pull it from Ally and then transfer from Ally to the other credit union only to transfer it to the one credit union that popular allows me.

Way more trouble than the extra .25% or whatever is worth.

But, I guess after 60 days, maybe they will let me link Penfed for when that CD matures. From that point, I don't know if I can change the linked account again or if I have to wait another 60 days.
RichReg
RichReg   |     |   Comment #114
I'm more confused than John is.
So you used Popular's ACH service to pull funds from some credit union, correct?
How was the efficiency on that part...was the debit and credit simultaneous?
And how long did it take to actually happen after you verified the trial deposits and requested the transfer?
zjts
zjts   |     |   Comment #115
RJM, please answer RICHREG 's comment #114
I am the 3rd person with the same questions to you.
Thank you for the effort
RJM
RJM   |     |   Comment #116
did my trial deposit and transfer from ally on 4/6. It was debited from Ally on 4/9. On 4/6 I did a small $500 deposit from Ally and it hit Popular the same day.

Last night, a transfer from LMCU to Popular was instantaneous at around 1am. That is, when I logged into mint, the money was out of LMCU and in Popular.
Availability was fairly slow. Transfers from 4/6 were just made available today.
(At other banks, ACH deposits have immediate availability) Except my first test push from Ally for $500 had immediate availability.

When Popular pulls the money, there is too long a delay for availability.

(Although I don't need the funds, I should have access to them)
John
John   |     |   Comment #117
Hi RJM,
When you did $500 deposit from Ally, did you start this ACH transfer from popular accout or did you start it from Ally?
Thanks.
RJM
RJM   |     |   Comment #119
The $500 was pushed by Ally.

PD only allows you to link ONE bank or CU and then you are STUCK with them for 60 days at which time I guess you can change it.

I had a CD expire at LMCU so that is what I used.

I now have a substantial sum at PD but I sure wish they would make things easier.

AA bank also has insane policies and a basic dated website. But at least they let you link a lot of other banks. But, transferring over $5k is like pulling teeth. And if a manager is out of the office for a few days, forget it.

I suspect I will use AA as my checking account and in time, lower my balance to $1000-1500.
Unless they increase their rate from 1.75% to 2%.
RichReg
RichReg   |     |   Comment #118
Have same question as John below.
I think we're all aware that it's best to take advantage of other banks that can pull money from Popular. We want to know how efficient Popular's pull is.
Was the 4/6 deposit pulled by Popular and, again, was it actually credited on 4/6?
RJM
RJM   |     |   Comment #120
Seems to be pretty efficient. Same day I think. I also did a push from Popular for a small amount, $72 and it was immediate.

When i say immediate, I mean either immediate or next day immediate. Unlike my transfer from Ally to the credit union, that came out of my account immediate and then took a day and a half. That was after a $500 test transaction that did NOT serve to fool Ally into giving me next day transfers. With Ally, its a combination of how long its been linked and the amount of transactions, not one or the other.

But its a closely guarded secret and they would have to kill you if they told you.
RichReg
RichReg   |     |   Comment #122
Ha-Ha!
I guess that's why they named themselves with World War II vocabulary.
I'm just trying to time everything w/o getting stiffed. Unless the ConnectOne 10-month CD gets dropped before May 4th, think I'm going to try that new MyEbanc 2.25% one-year for my next-maturing CD. Promos are literally changing by the day & it's a nice replacement for the now-gone NASA-FCU CD.

Spoke to MyeBanc yesterday and they seem VERY easy to work with.
And they accept checks!
zjts
zjts   |     |   Comment #123
If anyone else can answer this with real-life experience , please post. Losing all interest on all transferred funds for 1or 2days transfer time makes the 2% much less attractive
Pushing from Ally is a last resort to move funds anywhere.
John
John   |     |   Comment #124
That's exactly what I am trying to know. For example, if you initiate transfer from the popular account, when the fund leaves your external account and when the fund shows at your popular account? Anyone can share this? Thanks.
Anonymous
Anonymous   |     |   Comment #125
Funds are debited the next morning, and appear in Popular Direct at 7 PM ET.
zjts
zjts   |     |   Comment #127
thx; this would be great
have other people experienced the same timing regardless of which external bank?
zjts
zjts   |     |   Comment #145
Is this true for the initial deposit (meaning after trial deposites are verified)?
quizzer
quizzer   |     |   Comment #137
Whats the benefit of using popular to initiate ACH compared to doing it from Ally or Alliant? Which has higher limits and les in-transit days?
quizzer
quizzer   |     |   Comment #136
Were you able to transfer higher $ (say 25000) from external source to Popular Direct?
unmesh
unmesh   |     |   Comment #98
Another interesting discovery. Not only will they not wire funds out, they will not accept an incoming wire for funds transfer!
RJM
RJM   |     |   Comment #99
And I forgot about Allys delay in moving funds to a new bank.

Trying to move $77k. Put a transfer in for $500 that wont be there until monday but came out of my account today.

Might be best to snail mail a check?

I have 2 other RCAs with $15k each that I cant transfer out of and I don't have checks so they are going to be a chore to get to Popular too.

Why do they make it so difficult to send them money?
RJM
RJM   |     |   Comment #100
Hoping the $500 is enough to get me a quicker transfer next week but probably not.
joe
joe   |     |   Comment #105
Opened my account without a problem. Enjoying 2% interest. Wonder if or when some other bank will offer this rate or higher. Isn't money getting tighter? Why wouldn't rates start to go way up soon? Especially if a trade war really gets going.
RJM
RJM   |     |   Comment #106
Did the automated deposit thingy at both Ally & All America at the same time. Allys came & were confirmed early this morning. All Americans have not. I wonder if they are playing games to slow down the transfer process?
RJM
RJM   |     |   Comment #107
Just found out they will not accept checks by mail.

Its PITIFUL how hard they are making it to send them money.

Also, All American is refusing to let me make a large transfer out on their end. Supposedly, the only person who can authorize that will be away for the next 3 days.

They did, finally, send the ach deposits.

AA says I can send a billpay, Gee thanks.

AA & Popular have to be 2 of the hardest banks I have ever dealt with.

AA is proving itself to be more trouble than its worth. Will probably close the account.

I sure wish Ally would come out with a new 2% no penalty. Then I would close both of these accounts.
RJM
RJM   |     |   Comment #121
Rather than fight with AA to pull more out, I think Im going to send a $15k check to LMCU by snail mail and then try to time it so I can pull $15k more the same day LMCU gets the check. They will probably email me if i ask.

The hold won't bother me because its earning 3%.

I have some CDs expiring at Penfed in June so I should be able to change my link to Penfed by then and pull more from Penfed. If a better deal does not come around by then.

I closed my remaining Ally no penalty CDs to add to PD. But I lost a couple days interest in sending it to the credit union where I was not set for immediate transfers.

I'm not aware of their policy after 60 days, Does that mean I can change it again a week later after pulling from Penfed? Or do I have to wait another 90 days?
RJM
RJM   |     |   Comment #126
I have calmed down a little over their stupid limitations. And I just realized I could do a push from Penfed when my CDs expire on 5/6. For some reason, I did not think I could do a push from penfed.

So, I will probably be adding more money here just because its the highest rate right now.

But, we have until 5/6 to see if any better deals come along.

And, All Americas 1.75% is not enough for anything but a checking account so I guess I will keep the account open just for a checking. (6 transactions is plenty) Wont keep more than $500-1200 at a time in there though.
And now that I have them all set up, their transfers are pretty good. (As long as its not over $4999 or whatever their stupid limit is)
RJM
RJM   |     |   Comment #128
Apparently, I was wrong.

Please note, the limit you are allowed to transfer via ACH to or from an outside
institution daily is $5,000.

Sheesh.
Anonymous
Anonymous   |     |   Comment #129
The daily limit is $1 million.
RichReg
RichReg   |     |   Comment #130
Technically, the daily dollar limit for ACH is one cent below $1 million.
But that covers either using the external account you've set up, OR handing the
ACH transaction over to another bank to handle it. Only other daily restriction is
$10,000 by mobile deposit.
zjts
zjts   |     |   Comment #144
IS this the limit for ach transfer IN initiated AT Popula Direct?
RJM
RJM   |     |   Comment #131
The above came from penfed customer service. Are you saying they are wrong?
RJM
RJM   |     |   Comment #132
My objective is to pull out my expiring CDs when they expire. I guess I could do it via ally and then transfer to the next destination? But their 1.45% is bad and I hate to reward them for a bad rate even for a few days. I have until 5/6.

I wanted to push from penfed but I may not be able to.
Anonymous
Anonymous   |     |   Comment #133
This is a thread on the topic of Popular Direct. You should assume any comments here pertain to Popular Direct, unless clearly stated otherwise.
zjts
zjts   |     |   Comment #141
can anyone confirm with real life experience with ach transfer initiated AT popular direct ach max & min limits &
dates of withdrawals from external bank & deposit into popular direct

I want to thank
Anonymous 
for this post & was hoping others could confirm the same
 |   Apr 14, 2018   |   Comment #125Funds are debited the next morning, and appear in Popular Direct at 7 PM ET.
RichReg
RichReg   |     |   Comment #134
Thanks anonymous, ..that about sums it up.
quizzer
quizzer   |     |   Comment #135
Which bank has this $5000 in/out ACH limit?
RJM
RJM   |     |   Comment #138
Penfed initially gave me incorrect info. They have a $5000 limit on a push out but no limit in a pull out.

It appears I will be unable to move money from penfed to popular without sending it elsewhere first. A pit stop if you will.
Law Of Attraction
Law Of Attraction   |     |   Comment #139
Visualize, Actualize, Achieve!

Never Give Up!
zjts
zjts   |     |   Comment #140
which bank are you referring to? AllAmerica???
RJM
RJM   |     |   Comment #142
Penfed has a $5000 limit on ACH out and so does All American. You may be able to get approval for more at AA, Don't think so at AA.

Popular, Im not sure if they have a limit or not but you can only have one bank/cu for ACH transfers either way. And for the first 60 days, you are unable to change it.

None that I am aware of have a limit for accepting ACH transfers originated elsewhere.
Law of Attraction
Law of Attraction   |     |   Comment #143
Terrific news!
Popular Direct's Exclusive Savings Account Rate Jumps
Deal Summary: Exclusive Savings, 1.65% APY on all balances, $5k minimum opening deposit

Availability: Nationwide (internet bank)

Popular Direct’s Exclusive Savings Account was added to the product line in mid-January, with an initial rate of 1.50% APY. Yesterday that rate was raised to 1.65% APY. The minimum opening deposit is $5k, although the minimum balance to earn the stated APY is only $0.01.

The Exclusive Savings is the fourth savings account Popular Direct has added to the product line in about two years....

Continue Reading
Popular Direct's 18-Month CD Rate Climbs
Deal Summary: 18-month Popular Direct CD, 2.30% APY, $10k minimum deposit.

Availability: Nationwide (internet bank)

For more than a year, Popular Direct has been actively raising the rates on its Popular Direct CDs. These competitive CDs have prompted seven separate blog posts from me, and at least as many Forum posts by DA readers. The latest blog post concerns the 18-month Popular Direct CD, which now earns 2.30% APY. The minimum deposit is $10k, with no stated balance cap.

Continue Reading
Popular Direct Ups Long-Term CD Rates And Adds New Savings Account
Deal Summary: Popular Direct CDs – 4-year (2.50% APY), 5-year (2.65% APY), $10k minimum deposit. Exclusive Savings Account, 1.50% APY, $5k minimum opening deposit.

Availability: Nationwide (internet bank)

During the past year, Popular Direct has been quite prolific, producing a series of competitive short-term CD rates. The Bank’s rising rates have resulted in seven separate blog posts from me, and as many Forum posts by DA readers. While rates went up again today, this time it’s the long-term CDs turn: 4-year (2.50% APY) and 5-year...

Continue Reading
Popular Direct's 18-Month CD Breaks The 2.00% APY Barrier
Deal Summary: 18-month Popular Direct CD, 2.00% APY, $10k minimum

Availability: Nationwide (internet bank)

For the past twelve months, Popular Direct has been quite busy keeping its Popular Direct CDs competitive. The Bank’s rising rates have resulted in six separate blog posts from me, and as many Forum posts by DA readers. The subject of my seventh blog post is the 18-month Popular Direct CD, which now earns 2.00% APY. The minimum deposit is $10k, with no stated balance cap.

Continue Reading
Popular Direct Boosts Plus Savings Account Rate
Deal Summary: Popular Direct Plus Savings, 1.40% APY, $5k minimum opening deposit

Availability: Nationwide, internet bank

Popular Direct, Banco Popular North America’s newest internet division, celebrated its first anniversary in August. The first Popular Direct account I wrote about was the Popular Direct Savings. Its initial rate of 1.26% APY was short-lived, dropping to 1.15% APY sometime in December, and was quietly removed from the Bank’s website soon after. At about the same time, Popular Direct began promoting a new account, the High Rise Savings...

Continue Reading

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