Bank On and Popular Checking


1. What is Bank On?

Bank On is a program of the Cities for Financial Empowerment Fund (CFE) and its mission is to ensure families can obtain affordable, convenient, and moderate-cost accounts. For a financial institution to obtain Bank On certification, the account must meet certain standards to make sure it is accessible to consumers. For more information about Bank On, click here.

2. What is the Bank On National Accounts Standards guide?

It’s a guide offered by the Cities for Financial Empowerment Fund (CFE) that provides specific advice on the requirements that financial institutions must meet to certify an account within the Bank On program. Click here to review the guide.

3. Which account is offered by Banco Popular under the Bank On program?

Banco Popular is offering the Popular Checking checking account.

4. What did Banco Popular do to certify its Popular Checking under the Bank On program?

We eliminated charges related to the overdraft policy and for inactivity in the Popular Checking.

Changes to the Popular Checking account:

Charge type Previously Currently
Overdraft1 $15 $0
Overdraft maintenance1 $5 $0
Each returned deposited check $20 $0
Inactivity2 $10 $0

5. When did changes made to the Popular Checking become effective?

Changes were effective on November 1, 2021.

6. Are there any special requirements to open a Popular Checking account?

You only need to be 18 years or older and provide valid and current identification with evidence of having Social Security.