Summary: The popular Direct Bank launched in 2016 as a ward only for an online bank. The roots of the company date back to 1893 with the establishment of Banco Popular de Puerto Rico (BPPR). The popular direct accounts are FDIC-insured, with the insurance applying for assets there at the popular bank.
The popular direct bank offers two main products: Savings accounts and deposit certificates (CD). Here is a brief look at every type of product and the features they provide.
This account offers competitive profitability for all savings balances. However, to open an account, you need to deposit a minimum of $ 100. This should not be a big obstacle for most customers, although many high -yield savings do not have a minimum deposit requirement.
The popular direct one works extremely online, so you need to open a highly -dollar savings account on the Bank’s website and connect an external account to finance the new account. The bank’s policy will only allow you to transfer from this account for the first 70 days that the account is open.
Read more: 10 Best High Lield Savings Available today
CDS is available for three months to five years and require a minimum opening deposit of $ 10,000. Many customers will find this minimum too high and look at the CDs in other banks. However, those with enough money to meet the minimum can evaluate the strong CD yields of the popular director.
Read more: These 8 banks offer CDs with no minimum deposit requirement
Popular direct fees minimum fees, but there are some cases where you can be subject to a taxi as a client.
Think of these pros and cons before you open an account with a popular direct bank:
Pros:
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Competitive Deposit Accounts yields: The popular direct ones offer competitive savings and CDs, with each account earning 4% APY or higher. Traditional savings accounts and CDs usually have much smaller yields.
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No monthly fees: Neither his savings accounts nor CDS charge monthly maintenance fees. There are no warnings, such as requiring a particular balance, to avoid monthly fees.
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A variety of terms for CD: Eight different terms are available for CDs ranging from three months to five years. This allows you to open a CD that matches your financial goals.
Cons:
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No Account Check: The popular direct bank does not offer a check account that requires you to link external account and fund your accounts with ACH transfers.
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Highly minimum CD deposit requirement: Both savings accounts and CDS have minimal opening deposits. Although the $ 100 minimum for savings is not unreasonable, the CDs require at least $ 10,000, which will be too high for many customers.
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No physical branches: Online banks often do not have physical branches, and the popular direct bank is no exception. This can be a disadvantage for those who prefer banking.
For help with any concerns about your popular direct accounts, you can contact the bank by phone from Monday to Friday from 7:30 am to 12:00 pm ET and Saturday and Sunday from 9:00 am to 6:00 pm ET. The contact number is 1-800-274-5696. Customer service is not available on Federal Reserve Holidays.
The popular direct bank has an app on the Apple App Store and Google Play. The mobile app has basic features such as the ability to check balance, deposit mobile checks and see the latest transactions. However, the app is poorly appreciated on both platforms, with 1.4 on the App Store and 1.3 on Google Play. Consumers say the app has limited functionality and mentions various technical problems, such as entering and forcing problems to enter a browser.
The Postal Direct Bank’s postal address is:
Popular bank
ATTN: Popular Direct Products
PO BOX 4884
Miami Leyx, FL 33014
If you prefer to contact the Bank Customer Service Center by telephone, the total contact number is 1-800-274-5696. Customers are offered from Monday to Friday from 7:30 to 12:00 ET and Saturday and Sunday from 9:00 to 18:00 ET.
Yes. The popular direct is a division of the popular bank, a financial institution provided by FDIC. For the purposes of FDIC insurance, the coverage applies to the sum of the assets you have in both the popular bank and the popular direct one.
The number of the routing of the popular directory is 113007835.
Yes, the popular Direct is a reputable online bank and FDIC provided through its parent bank. The standard deposit coverage restriction is $ 250,000 per deputy, for an institution, for a category of property.
The popular direct bank is an online branch of the popular bank. The roots of the bank date back to 1893 with the founding of Banco Popular de Puerto Rico.
You can withdraw money from your popular direct savings account by starting transferring funds to a connected external account within online banking. If you need to transfer funds within the first 70 days, you can only transfer funds to the external account you have provided during the account opening process or by calling the popular direct customer service center.
The popular direct bank was launched in 2016. However, it is only an online division of the popular bank, which has roots that date back to 1893.