Popular Bank Reviews (29)
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I opened an account a couple of years ago and had a dreadful experience. I saw two weeks ago that the rate was better than at Citizens so I closed that account for this one. I cannot access my money now or get customer service. I am not even making the .55% that is advertised. Fool me once, shame on you. Fool me twice ... oh, well.
Review on the Online bank -
Great rates! I've banked with them for about a year and have both a Savings Account and a CD. Yes, a little bit of a hassle to set up, but worth it to make a $... And who cares about the withdrawal penalty? If you might need the money in that timeframe, a CD is not the right choice.
Review on the Online bank -
I made the mistake of opening a CD with these guys once. Don't be fooled. The language is clear. The early termination fees are crazy compared with Synchrony or Ally or Citizens. Go with one of those guys. Here are Popular's EW fees: For terms equal to or greater than 91 days but less than 12 months, the fee is 120 days simple interest.
For terms equal to or greater than 12 months but less than 36 months, the fee is 270 days simple interest.
For terms equal to or greater than 36 months but less than 60 months, the fee is 365 days simple interest.
For terms equal to or greater than 60 months, the fee is 730 days simple interest.
Review on the Online bankaclient | Dec 15, 2018
Use a savings account IF YOU MIGHT need to take money out before the mature date!!! Common sense.
duh | Jan 18, 2019
WHY do you invest in a CD if you need to take it out!!! Use your brains.
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I had been thinking about opening this and then I saw the reviews on Depositaccounts.com and someone said that they charge $25 if you close the account within 6 months. Someone else said something about lousy POD processes and someone else said something about failure to do the initial transfer. Then, I thought it would be OK, but now they have dropped the rate from 2% to 1.85% so I am not sure. I probably need to do something else. I cannot believe that these other banks are still giving me next to nothing on my money.
Review on the Online bankStacey | Jun 3, 2018
The 2% that we offered was for our Exclusive Savings product. This was discontinued as of 05/17/2018. As of this date we re-launched the Popular Direct Plus Savings Acct w the 1.85% which is what we currently offer on our website at this time. The rates are for two separate products not the same product.
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Currently have three 5 year CDs with them. The first CD opened was actually under Eloan which was transferred to Popular Direct after Eloan's CD acquisitions. The opening of CDs is definitely time consuming, but the security is worth it. It seems like they take security serious. I plan on opening more 5 year CDs in the future if they maintain one of the higher rates.
Review on the Online bank -
Popular Direct is a unit of Banco Popular North America, an independent company from the Spanish Bank. Banco Popular North America is favorably 5-star rated by the FDIC for safety and soundness. http://www.bankrate.com/rates/safe-sound/memorandums-memos.aspx?fedid=2736291
Review on the Online bank -
Do not touch the 5-year CD. has a 2 year early withdrawal penalty. crazy. take it off this table before someone makes a mistake and does this.
Review on the Online bankOregon | May 13, 2017
Don't invest in a 5 year CD if you plan on taking it out early, just common sense.
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TulsaGirl01
Apr 10, 2021