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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
2.36% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Banco Popular North America started in 1999 with headquarters in New York, New York. It manages $9 billion in assets and $7 billion in deposits, making it a large bank. Banco Popular North America lacks premium access to customer service, 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. With a commendable 4.3 out of 5 stars, Banco Popular North America proves it is a great choice and should warrant serious consideration. Banco Popular North America offers a complete array 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; you can find higher rates with other banks. The bank's standard checking product features a monthly fee of $3.00, which is acceptable in comparison to the national average. Locating a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is the best option for returning the most income from your deposits while having convenient access to your money.

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 features a savings rate of 2.36%, which is poor compared 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 its noncompetitive savings rate, you should think about opting for higher earning savings accounts with other banks.

How Banco Popular North America's Savings Rates Compare

Banco Popular North America Savings 2.36 National Average 0.26 Compare Offers
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Fees

3.9
SmartAsset Average: 4.4

Banco Popular North America charges customers above-average fees compared to other U.S. banks. At $3.00/month, Banco Popular North America's checking account is not great for people who want a hassle-free banking experience. 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 compared to the average U.S. bank. Additionally, it has an overdraft fee of $34.00, which is less than the average overdraft fee charged by U.S. banks. Banco Popular North America doesn't reimburse out-of-network ATM charges, meaning you will be required to find a Banco Popular North America ATM or pay the 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 straightforward mobile-banking experience. It does not provide access to all-day customer service with representatives. You can get help during its customer service 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 receives poor reviews from users for its mobile platform. The Banco Popular North America mobile app is rated at 3.0 out of 5 (out of 1,100 customer reviews on iOS and Android) compared to the national average of 3.8. You can access Banco Popular North America's app to control your funds by monitoring monthly statements, transferring funds and accessing support representatives. Banco Popular North America receives an outstanding consumer satisfaction rating based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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 ranks as a large bank and has assets totaling $9 billion and $7 billion in deposits. 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 2.36% 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 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 taking a look 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 as compared against the national average.

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Find a Banco Popular North America Near Me

Banco Popular North America has 53 branches in the U.S.

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