Overdraft Policy

    • Fee for returned transaction due to insufficient or non-available funds: This fee occurs when you don’t have enough or available funds in your account to cover the transaction (also known as NSF) and Banco Popular rejects or returns the transaction.
    • Fee for transaction paid against insufficient or non-available funds: This fee occurs when you don’t have enough or available funds in your account to cover your transaction and Banco Popular pays or covers the transaction.

      Banco Popular pays overdrafts at its discretion, which means that the Bank reserves the right to authorize and pay overdrafts on checks and/or electronic transactions made with your account number with insufficient or non-available funds to cover such transactions. Paying an overdraft is a discretionary decision by Banco Popular that depends on several factors, including the amount and type of transaction and past activity in your account. If we don’t authorize and don’t pay an overdraft, your transaction will be returned or rejected.
    • Overdraft maintenance fee: A daily fee if your account remains in overdraft for several consecutive days.
    • Financing charge: A fee charged on the average monthly balance in overdraft, subject to an interest rate that can vary by type of product.

    For more information on commercial/ deposit accounts or to access the Commercial Deposit Account Agreement, visit popular.com/en/business/accounts/.

    • No fee will be charged on transactions returned due to insufficient or non-available funds,
    • Fees will be waived on transactions of $5.00 or less paid against insufficient or non-available funds, and
    • We will no longer charge a daily overdraft maintenance fee.
    • Make sure your account always has enough funds to cover your transactions.
    • Check your account balance before making payments or withdrawals at an ATM.
    • Activate the Mi Banco Alerts service to receive a push notification, text message or email with your balance information. Please note that charges for text messages or data overages may apply depending on your cellular service plan. Check with your service provider to learn more about your plan.
    • Check your account’s available balance 24/7 through Mi Banco Comercial and Web Cash Manager℠.
    • Transfer money between your accounts using Mi Banco Comercial and Web Cash Manager℠.
    • Consider requesting a Line of Credit to cover any unexpected transactions. Please note that accepting a Line of Credit is subject to credit approval.
  • The B-Smart® and the FlexiCuenta de Negocios® accounts offer overdraft protection. These accounts have a Savings-Guaranteed Reserve. When you make purchases and withdrawals at an ATM, the account combines the balance of the checking section and the savings section to authorize the transaction.

    If you don’t have enough funds in the checking section, but you have a balance in the savings section to cover the transaction, Banco Popular will authorize it. Once authorized, the balance transferred from the savings section is withheld (creates a hold) and automatically activates a reserve to cover overdrafts in the checking section. This savings-guaranteed reserve does not require credit approval. Banco Popular charges 5% APR above the interest on the savings section for this service.

    For more information about the Savings-Guaranteed Reserve, click here and access the Commercial Deposit Accounts Agreement.

Need more help?

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Call us at 787.724.3659 or Access Mi Banco Online (desktop version), log in by entering your username and password, and in the upper part of the website click on “Contact Us”. From there, write your message, and we will gladly assist you.

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