Popular Direct Review 2023
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At a glance

CDs
Savings
About Bankrate Score
Overview
Popular Direct is best for anyone looking for an online savings account and CDs that pay top-notch yields.
Highlights
- High APY
- Top CD Rates
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Overall
Popular Direct is an online bank that pays highly competitive rates on its CDs and savings account. It does impose relatively steep minimum deposit requirements, however, and its product offerings do not include a money market or checking account.
Pros
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Popular Direct offers accounts with highly competitive rates.
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Any fees that are charged are relatively easy to avoid.
Cons
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Minimum deposit requirements are high.
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The bank does not offer branches.
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There is no ATM access; funds can only be accessed electronically.
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The mobile app has limited capabilities and low customer ratings.
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Checking and money market accounts are not offered.
Popular Direct banking products
Popular Direct savings overview
Popular Direct doesn’t include an ATM card with its savings account, so you’ll need to make an external transfer to access the funds. Additionally, you can add money to the account with your phone by using mobile check deposit.
Pros
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Popular Direct offers a top-notch APY.
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There is no monthly service fee.
Cons
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Other banks with similar APYs require much lower minimum balances.
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No ATM card is provided.
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank experience
The Popular Direct savings account does not come with an ATM card, so customers who want to deposit or withdraw money will need to rely on methods like external transfers and mobile deposit capture.
Popular Direct’s mobile app allows for basic account management, including viewing your account balance, transferring money between internal accounts, and depositing funds remotely. Overall, the app receives less-than-favorable user ratings on Google Play and the App store.
Customers have additional capabilities when logged onto the bank’s website, such as setting up account alerts, accessing e-statements and transferring money between external accounts.
Customer service can be reached over the phone between 7:30 a.m. and midnight ET Monday through Friday, and between 9 a.m. and 6 p.m. on weekends.
About Popular Direct
Popular Direct is an online bank that was launched in July 2016. It offers certificates of deposit (CDs) and a savings account that are opened through federally insured regional bank Popular Bank.
Popular Bank was formerly known as Banco Popular North America. Its parent company, Popular Inc., was founded in 1893. The financial institution serves customers in the United States, Puerto Rico, Latin America and the Caribbean.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.