Popular Direct Reviews (38)

Rated 1.78 stars out of 5 - based on 23 reviews with ratings

  • Dec 18, 2023 |

    I submitted a CD application 18 months 5.50 APY over a week ago and my application was declined no reason was given, I have the funds in another bank for transfer, credit score over 800. I think the reason is because the interest is coming down and they are not willing to offer those rates. At the time of application, the rates were still being offer but it took Popular Direct over a week to review, remember I'm not borrowing money, I'm depositing money, what a joke

  • Nov 17, 2023 |

    Online Savings Rates

    terrible bank - save yourself the aggrevation and even take a few pennies less if necessary

  • Jul 3, 2023 |

    Online CDs 12 Month Rates

    1-year rate of 5.35% is good, but the early withdrawal penalties are absurd. Unless you know you won't need the money in less than 1-year (no loss of job, divorce, cancer, etc.), buying a 1-year CD with a 270 day early withdrawal penalty is a bad idea. I will gladly take a little less for a lower fee. Forbright at 5.30% is a much better idea here.

  • Jun 25, 2023 |

    Online Savings Rates

    A complete waste of time

  • Jun 18, 2023 |

    Online Savings Rates

    impossible to get money back after cd maturity. couldn't even transfer it to their savings acct.

  • Apr 13, 2023 |

    Worst banking exp ever. I got their 3 month CD at a rate to try to keep up with month to month inflation. I found out it's a long drawed out process next to impossible getting your money back into your funding account. If you lapse just a couple days or over a long weekend your grace period has tolled. The will auto renew the CD into their 5 year CD which pays the lowest interest. You will then be donating your money for a long term commitment. If you want to get out at this point you will loose part of your principal.
    Did you see in the terms you will have to forfeit 2 years interest on an early withdrawal??

  • Mar 14, 2023 |

    I had two 5 year CDs. Once in 2021 and again in 2022, PD claimed that my account had been abandoned. As far as I know, PD had made no effort to reach me, and I had been logging in once/month to check my balances. I had to submit paperwork to revive my account. The first time I shrugged it off. The second time, I was so spooked that I decided I had to get my money out or risk losing it all. Yes, I paid the crazy 2 years of interest penalty for an early withdrawal. I was relieved to have my money however, and since interest rates were higher when I got it, I put the money somewhere safe and at a better interest.

  • Feb 1, 2023 |

    I would give them 0 stars if possible. I've had over 10+ CDs and bank accounts at all different institutions and never have I encountered such difficulty just accessing my account online! Just the application for opening the account was riddled with errors and I had to call them in order to move on. No confirmation emails are sent at all notifying you of your enrollment or account activity. Had to give them another call just to get my account number. You can try to sign up online to just make an account and nope. Enrollment will stall for no reason and you must call them again. For verification reasons, they've made multiple soft inquiries on my credit just to give me my own access to my online account. Wow. Then when I'm finally in, there's no way to set your maturity options. This is probably a fake company. I've never been so frustrated with opening a CD account.

  • Jan 4, 2023 |

    Online Savings Rates

    No, they are not.

  • Apr 10, 2021 | Replies 1

    Online Savings Rates

    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.

    DistrictGirl | Feb 21, 2023

    were you able to get your money out?

  • Dec 3, 2019

    Online Savings Rates

    Awful bank, offer you a high savings rate, then drop Ong the rate so rapidly.

  • Dec 3, 2019

    Online Savings Rates

    Awful bank, offer you a high savings rate, then drop Ong the rate so rapidly.

  • Mar 6, 2019 |

    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.

  • Jan 24, 2019

    Online CDs 36 Month Rates

    Seems to me the BEST deal for 3 years - if you don't need it. Only ONE year interest early w/d. On the same banks 5 year it is TWO years. IThe important thing is to only put money in you WON'T NEED for 3 years.

  • Nov 16, 2018 | | Replies 2

    Online CDs 12 Month Rates

    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.

    aclient | 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.

  • Nov 5, 2018 | | Replies 1

    Online CDs 60 Month Rates

    A 2-year early withdrawal penalty on a 5-year CD! Forget it!!!

    easy peezy | Oct 2, 2023

    If you can't afford to lose the funds then dont tie it up... duh

  • Oct 25, 2018 |

    Online CDs 60 Month Rates

    The 3.50% rate caught my eye so I looked into it. I found out that the early withdrawal fee on a 5-year CD is 730 days! That's two years! Stay away.

  • Aug 4, 2018 |

    Online CDs 60 Month Rates

    The 2 yr cd rate at 2.95% is attractive, but it has a 9 month early withdrawal penalty if you need to cancel. I'd rather get a slightly lower rate and a smaller penalty, given the possibility rates could spike up.

  • Jun 14, 2018 |

    Online Savings Rates

    Have banked here off and on for a long time. No complaints. When a promotional rate is offered, one must be prepared to jump in. It may not last long.

  • May 28, 2018 | Replies 1

    Online Savings Rates

    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.

    Stacey | 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.

  • May 7, 2018 |

    Online Savings Rates


  • Mar 9, 2018 |

    Online CDs 18 Month Rates

    I’ve been dealing with this bank for several years and am very pleased with the service. Account security is thorough so it takes time to set up an investment account.

  • Mar 4, 2018

    every time they raise the saving rate interest, they make you open up a new account, bad news, can not close the old account for 6 months without a $25 penalty

  • Dec 23, 2017 |

    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.

  • Sep 3, 2017 |

    Online CDs 12 Month Rates

    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

  • Jun 30, 2017 |

    Online CDs 18 Month Rates

    Do not get lulled by the CD rate. Lots of work to get the account opened funded. Then, it is going under and the acquiror may void the product.

  • Jun 9, 2017 |

    Online Savings Rates

    It was just bought by santander. Stay clear of their CDs until the ink is dry.

  • May 19, 2017

    Online Savings Rates

    I also saw the 2 year termination penalty. That is just crazy.

  • May 13, 2017 | | Replies 1

    Online CDs 60 Month Rates

    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.

    Oregon | May 13, 2017

    Don't invest in a 5 year CD if you plan on taking it out early, just common sense.

  • Jul 8, 2016 | | Replies 2

    Online CDs 12 Month Rates

    This outfit is geared towards lending. Service not good and you can get the same deposit rate at another bank.

    Ron | Jul 8, 2016

    Good to know

    jim | Jul 8, 2016

    which other bank?

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