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Banco Popular North America Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Banco Popular North America Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Banco Popular North America was founded in 1999 with its headquarters in New York, New York. Banco Popular North America manages $9 billion in assets along with deposits totaling $7 billion, which makes it a large bank. Banco Popular North America 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 access to service representatives at a physical location, in addition to its online and mobile offerings. We ranked the bank at a 4.3 out of 5 stars, indicating that Banco Popular North America is a great bank that you should seriously consider. Banco Popular North America provides customers with the complete package of banking products, 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 $10.00 monthly fee, which is not too high in comparison to the national average. Locating a checking account with no monthly fee and a savings account with a high APY at the same bank is the best option for returning the most income from your deposits while having easy 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

With a savings rate of .05%, Banco Popular North America ranks poorly in comparison to the average U.S. bank. Its one-year CD earns at a rate of 3.0% and the five-year CD earns at a rate of 3.35%. Given Banco Popular North America's poor savings rate, you should consider other options to earn more on your deposits.

How Banco Popular North America's Savings Rates Compare

Banco Popular North America Savings 0.05 National Average 0.09 Compare Offers
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Fees

3.9
SmartAsset Average: 4.4

Banco Popular North America typically has above-average fees compared to the average U.S. bank. Banco Popular North America's checking account has a monthly fee of $10.00, ranking it slightly worse for anyone looking for a hassle-free account. For those who will need cash in a pinch, it is fair because it has an out-of-network ATM fee of $2.00, which is reasonable as compared against the national average. Additionally, it has an overdraft fee of $34.00, which is lower than the average overdraft fee charged by U.S. banks. Banco Popular North America unfortunately doesn't reimburse out-of-network ATM fees, meaning you will have to locate a Banco Popular North America ATM or accept the ATM charge.

Monthly Fee $10.00 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 has both an online and physical presence, with 53 total bank locations in New York, New Jersey and Florida. It also offers access to mobile and web apps for straightforward access and banking on the go. 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 receive mediocre feedback from customers. The Banco Popular North America mobile app scored a 3.0 out of 5 (with 1,639 reviews on iOS and Android) compared to the national average of 3.8. You can utilize Banco Popular North America's mobile app to manage your bank accounts by monitoring current statements, sending and receiving money as well as accessing customer service. Banco Popular North America gets a superb consumer satisfaction rating due to relatively few complaints reported to 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 Yes
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

Banco Popular North America is currently a large bank and handles assets totaling $9 billion and $7 billion in deposits. Banco Popular North America's Texas Ratio is 7.81%, indicating that Banco Popular North America is in good financial shape and far from 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 0.05% APY $2500
Checking Account 0.1% APY $1000
Certificates of Deposit
  • 13 Month: 3.00% APY
  • 25 Month: 3.10% APY
  • 36 Month: 3.15% APY
  • 48 Month: 3.20% APY
  • 60 Month: 3.35% APY
$10000 for all terms

Banco Popular North America has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Banco Popular North America does not have the best savings rate, which means you should consider other options 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 as compared against the national average.

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Find a Banco Popular North America Near Me

Banco Popular North America has 53 physical locations in the U.S.

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