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Popular Checking will not have any fees associated with overdraft, insufficient funds or unavailable funds. Likewise, the Overdraft Policies of Banco Popular de Puerto Rico will not apply to, nor will they be available for the Popular Checking account. This means that we will decline and return as unpaid those transactions for which you do not have sufficient funds in your account. Although the Popular Checking account will not allow you to overdraw your account in most cases, it is possible for your account to have a negative balance; however, in those cases, we will not charge you overdraft fees. This could occur, for example, when you authorize a payment with your debit card for an amount less than the amount received by the bank for your payment (for example, the added tip for a payment at a restaurant).
If you do not make transactions in your deposit account, inactivity charges will not be applied. However, the inactivity period will remain in place, thus it is important that you continue making transactions to your account in order to avoid its status changing to inactive and your money being remitted to the Division of Banking and Insurance of the Virgin Islands (for USVI customers) and the Ministry of Finance (for BVI customers), in accordance with the applicable laws and regulations. As a reminder, if you do not make any transactions in a 6-month period, your account will be considered inactive.