Banco Popular de Puerto Rico Money Market Account

Banco Popular de Puerto Rico Money Market Account Review

Banco Popular de Puerto Rico Money Market Account is offered by Banco Popular de Puerto Rico, a bank founded in 1893 and based in New York, NY. Banco Popular de Puerto Rico Money Market Account are available in 3 states across the USA.

Key Takeaways

• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 0.30%, which is much higher than the national average for a money market account.However, you must keep a minimum balance of $0.01.
• Charges a monthly fee. This account charges a monthly service fee of up to $15, but the fee is waived if you keep a minimum balance of $10,000.
• High minumum deposit. You must deposit a minimum of $10,000, which is high compared to most money market accounts.

Pros & Cons of Banco Popular de Puerto Rico Money Market Account

Pros	Cons
High-interest yield. Does not offer mobile check deposits. Access to a nationwide network of ATMs.	No signup bonus. Does not provide a debit card. Only available in 3 states. Monthly service charge.

Banco Popular de Puerto Rico Money Market Account FAQ

Are money market accounts from Banco Popular de Puerto Rico federally insured?

Yes, your deposits are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What are the interest rates for Banco Popular money market rates?

Banco Popular money market offers an APY starting at 0.01% and ranging up to 0.30% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $0.01.

Banco Popular money market Rates and Terms

Rates	Amount
APY (Annualized Percentage Yield)	0.01% - 0.30%

What are the fees for Banco Popular de Puerto Rico Money Market Account?

This account charges a monthly maintenance fee of up to $15. You can avoid this fee by maintaining a balance of $10,000.

Banco Popular de Puerto Rico will charge you a $15 fee if you exceed your maximum number of monthly transactions.

Banco Popular de Puerto Rico Money Market Account Fees

Fees	Amount
Monthly Fee	up to $15
Paper Statement Fee	N/A
Excess Transaction Fee	$15

What is the minimum balance for Banco Popular money market?

Minimum deposit of $10,000. You must make an initial deposit of at least $10,000 to open this account.

Monthly maintenance fee waiver. You can avoid the monthly fee if you keep a balance of $10,000.

Interest rate minimum balance of $0.01. You must keep the account balance above $0.01 to earn interest.

What features and perks does Banco Popular money market offer?

This account includes the following features:

• Check Writing - Banco Popular money market includes check writing privileges. This is convenient method to pay bills and transfer money from your account.
• Fraud monitoring - Banco Popular de Puerto Rico monitors transactions for potentially fraudulent activity.
• Mobile Banking Services - Banco Popular money market allows you to manage your money through online banking and a dedicated mobile app.
• Nationwide ATM network - Banco Popular money market allows you to access your money from an ATM, a convenient feature only a few offer.

What is the customer service phone number?

The customer service number for this business card is (787) 724-3650.

What is the support contact email?

The support contact email for this business credit card is popularnet@popular.com.

How to open an account with Banco Popular de Puerto Rico

• Visit the Banco Popular de Puerto Rico website.
• Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
• Check the information is accurate and submit your application.