Checking and savings accounts
The accounts you’ll have at Banco Popular are similar to those you had at Citibank. The following are some important aspects of these accounts that you should get to know:
- Checking and savings accounts:
If you had a Checking, Savings, or Money Market Transactional Account with Citibank, you will benefit from a new Banco Popular product following the conversion. We analyzed the different balances and accounts at Citibank in order to offer you the best similar product at Banco Popular.
Banco Popular account |
Minimum balance |
Combined balances |
Monthly service fees |
|
No |
No |
$1.00 monthly with Direct Deposit and $2.00 without Direct Deposit |
|
No |
No |
$2.50 for balances of $250 or more. $4.50 for balances less than $250 |
|
No |
No |
$0 when you make three monthly payments to different merchants via Internet Banking or TelePago Popular and if you receive Direct Deposit.
|
|
Yes |
Yes |
$8.00 monthly or $0 if you maintain a balance of $500 in your checking account, $1,000 in savings, or $10,000 combined between a Certificate of Deposit and an IRA(s).
|
|
Yes |
Yes |
$12.00 monthly or
$0 if you maintain a balance of $2,500 combined between a checking and savings account, or $25,000 combined between a Certificate of Deposit and an IRA(s). |
|
Yes |
Yes |
$0 if you maintain a balance of $50,000 combined between a checking account, Time Deposits and an IRA(s).
$15.00 if you maintain a balance between $25,000 and $49,000 among a checking account, Time Deposits, and an IRA(s).
$25.00 if you maintain a balance of less than $25,000 combined between a checking account, Time Deposits, and an IRA(s). |
- Checks
You may continue using your Citibank checks until November 30, 2007. Checks issued for Citibank accounts before December 1, 2007, and that have not been paid out, can be paid, processed, and charged to converted Banco Popular accounts.
You will receive your first order of Banco Popular checks sometime between the last week of November and the first week of December. This check order is free of charge. You can begin using your new checks as of December 1, 2007.
- ATH® card
You may continue using your Citibank ATH® card until November 30, 2007.
After December 1, 2007, you should begin using your Banco Popular ATH® card. You will receive your new ATH® card during the last few weeks of November. If you do not receive your ATH® card during this time, please visit the Banco Popular branch nearest you.
Notice: We recommend that you do not discard you Citibank ATH® card until you have tried your new Banco Popular ATH® card.
ATH® card personal identification number (PIN)
Your Banco Popular ATH® card will employ the same secret number as the ATH® card you had with Citibank.
- Regular ATH: You may begin using it on or after December 1, 2007.
- International Visa ATH card: Contact TeleBanco Popular at 1-877-294-1850 to activate this card. This is a security measure since the International Visa ATH can be used with a signature. You don not have to validate your Internacional ATH card because it will have the same secret number that you had with your Citibank card.
- Direct Deposit
If you received Direct Deposit from the Social Security, your employer or from any other entity, effective for your December deposit, Banco Popular will take care of notifying them of your new account number. If you wish to make this notification yourself, this document will help you through the process: Notice of change for Direct Deposit.
- Social Security Direct Deposit
Citibank will send us your Social Security deposit information. Banco Popular will take care of the rest.
- Reserve line of credit
A reserve line of credit is used in order to avoid over drafting checking accounts and transactions. This is an unsecured, rotating line of credit. This line of credit is activated when you overdraft your deposit account. Included in your checkbook is one (1) check you can use specifically for paying against your reserve line of credit.
Banco Popular’s reserve line of credit and Citibank’s Checking Plus |
Terms |
BPPR reserve line of credit |
Citibank Checking Plus |
Annual percentage rate (APR) |
Fixed APR: 15.95%
PMA fixed APR: 14.45%
|
Variable APR: Prime Rate + margin |
Annual rate |
- |
- |
Method for calculating daily balance |
Average Daily Balance |
Daily Balance |
Default fee |
- |
$29.00 |
Returned check fee |
- |
$10.00 |
|
$15.00 |
- |
Your Citibank Checking Plus credit limit will not change when you are converted to your new Banco Popular account. Banco Popular offers lines of credit ranging from $300 up to $50,000. If you’d like to increase the amount of your current line of credit, please contact TelePrestamo Popular® at 787-724-3653. The amount requested is subject to credit approval. |
