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Banco Popular North America Review

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Banco Popular North America Savings
2.26% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1999, Banco Popular North America has assets totaling $9 billion and $7 billion in deposits, ranking the institution as a large bank. Banco Popular North America, whose headquarters are in New York, New York, lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. On the whole, Banco Popular North America is a solid contender in your bank search, with a score of 4.3 out of 5 stars from the SmartAsset team. Banco Popular North America has a complete suite of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Banco Popular North America has a fair savings rate compared to the average savings account. The bank's standard checking product features a $3.00 monthly fee, which is not too high in comparison to the national average. Finding a bank with no-fee checking and a high savings APY is your best option for gaining the most income on your deposits while having convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

5.0
SmartAsset Average: 3.5

Banco Popular North America has a savings rate of 2.26%, which is poor in comparison to other U.S. banks. Banco Popular North America's one-year CD has a rate of 2.65% and the five-year CD has a rate of 3.50%. Given Banco Popular North America's poor savings rate, you should think about other options to earn more on your deposits.

How Banco Popular North America's Savings Rates Compare

Banco Popular North America Savings 2.26 National Average 0.26 Compare Offers
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Fees

3.9
SmartAsset Average: 4.4

Banco Popular North America has typically above-average fees as compared against the national average. At $3.00 per month, Banco Popular North America's checking account is less than the best product for those who need a hassle-free checking account. For those who frequently visit the ATM, it is fair because it has an out-of-network ATM fee of $2.00, which is reasonable in comparison to other U.S. banks. Also, at $34.00, Banco Popular North America's overdraft fee is markedly lower than the national average overdraft fee. Banco Popular North America unfortunately does not reimburse out-of-network ATM fees, which means you'll be required to search for a Banco Popular North America ATM or eat the withdrawal fee.

Monthly Fee $3.00 National Average: $3.21
Non-network ATM Fee $2.00 National Average: $1.20
Overdraft Fee $34.00 National Average: $35.00
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Service Quality

3.4
SmartAsset Average: 3.7

Banco Popular North America is a brick-and-mortar bank, with 53 total bank locations in California, Florida, New Jersey and New York. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not have all-day customer service with representatives. You can get help during its hours, which are Monday through Friday, 7:30 a.m. to 12:00 a.m. ET; Saturday and Sunday, and 9:00 a.m. to 6:00 p.m. ET. Banco Popular North America's online and mobile banking platforms get mediocre marks from customers. Out of 1,100 ratings on Apple and Android platforms, the Banco Popular North America mobile app has an overall rating of 3.0 out of 5 (compared to the national average of 3.8). Banco Popular North America's mobile app lets you control your bank accounts by checking monthly statements, transferring funds and accessing customer service. Banco Popular North America receives an excellent consumer satisfaction score due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

Banco Popular North America is a large bank owning assets totaling $9 billion and deposits totaling $7 billion. Banco Popular North America's Texas Ratio is 7.81%, suggesting a tiny chance of failure. Additionally, Banco Popular North America is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

7.81%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Banco Popular North America to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 2.26% APY $1
Checking Account 0.1% APY $1000
Certificates of Deposit
  • 12 Month: 2.65% APY
  • 24 Month: 3.05% APY
  • 36 Month: 3.10% APY
  • 48 Month: 3.15% APY
  • 60 Month: 3.50% APY
$10000 for all terms

Banco Popular North America has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Banco Popular North America does not have the best savings rate, which means you should think about looking elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Banco Popular North America's CD rates are fair in comparison to other U.S. banks.

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Find a Banco Popular North America Near Me

Banco Popular North America has 53 physical branches across the U.S.

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