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Explore Popular Direct Bank’s suite of bank accounts
Offers strong APYs across products but requires high opening deposits.
What banking products does Popular Direct Bank offer?
- Popular Direct Ultimate Savings account. Earn a strong 1.9% APY on your total account balance, but you’ll need $5,000 to get started.
- Popular Direct CDs. Requires a $10,000 opening deposit, but APYs range from 1.75% to 2.30% depending on the term.
Why should I open an account at Popular Direct Bank?Popular Direct Bank is the online-only arm of Popular Bank. Its FDIC-insured accounts come with online and mobile banking and other benefits like:
- High APYs. Earn anywhere from 1.75% to 2.30% depending on the account type.
- Daily compounding. Grow your money faster with interest that compounds daily.
- 24/7 support. Contact customer service by phone, email or mail.
What should I look out for?Individuals wanting to open an account with Popular Direct Bank should watch out for:
- High opening deposits. You’ll need $5,000 to open a savings account and $10,000 to open a CD.
- No checking accounts. Popular Direct Bank only offers savings accounts and CDs. For checking account options, you’ll need to look at Popular Bank.
- No branches or ATMs. With no ATM card or branch locations, you must rely on bank transfers to withdraw funds.
- Potential fees. There’s a $4 monthly fee if your savings account dips below $500.
What happened to Popular Direct Bank’s account freeze?In 2018, Popular Direct Bank implemented a 60-day freeze that prevented new account owners from accessing funds for the first two months of opening a Popular Direct Bank Ultimate savings account. As of January 2, 2019, there’s no longer a 60-day freeze, but new customers can only make ACH transfers from one external bank account during the first 70 days of account opening.
Compare with other leading savings accounts
Popular Direct Bank customer serviceContact Popular Direct Bank 24/7 by:
- Phone: 800-274-5696
- Email: firstname.lastname@example.org
- US Mail:
Attn: Popular Direct Products
P.O. Box 4884
Miami Lakes, FL 33014