Grades are also broken down by the financial products offered be each institution. Banco Popular de Puerto Rico is rated "B-" in Mortgages, "B+" in Credit Cards, "B-" in Bank Account Services, and "A-" in Consumer Loans. Click on any of the financial products to see how Banco Popular de Puerto Rico compares.
Banco Popular de Puerto Rico has received 208 consumer complaints since December, 2011 – more than 95% of other banks.
Of those complaints, 99.5% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Banco Popular de Puerto Rico meets the 60-day response deadline more frequently than 58.9% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 31.7% of customers dispute Banco Popular de Puerto Rico's response to complaints — worse than 91.5% of other companies.
Most of Banco Popular de Puerto Rico's customers complain about mortgages with the primary issue being "loan servicing, payments, escrow account."
Banco Popular de Puerto Rico is primarily a commercial bank with a commercial lending specialization. Banco Popular de Puerto Rico is based in Hato Rey, Puerto Rico and is the 38th largest FDIC insured bank in America.
Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.
However, even after adjusting for bank size and number of customers, Banco Popular de Puerto Rico receives far more complaints than most other banks. Banco Popular de Puerto Rico recieves more complaints per customer than 98% of other banks – customers are significantly more likely to file complaints than customers of most other banks.
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Mortgage||Other mortgage||Loan servicing, payments, escrow account||25|
|2||Mortgage||Other mortgage||Loan modification,collection,foreclosure||18|
|3||Bank account or service||Checking account||Account opening, closing, or management||17|
|4||Bank account or service||Other bank product/service||Account opening, closing, or management||15|
|5||Bank account or service||Checking account||Deposits and withdrawals||13|
|6||Bank account or service||Savings account||Account opening, closing, or management||13|
|7||Bank account or service||Checking account||Using a debit or ATM card||10|
|8||Mortgage||Conventional fixed mortgage||Loan modification,collection,foreclosure||9|
|9||Mortgage||Conventional fixed mortgage||Loan servicing, payments, escrow account||8|
|10||Bank account or service||(CD) Certificate of deposit||Account opening, closing, or management||7|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||189||188 (99.5%)||60 (31.7%)|
|2||Closed with monetary relief||26||26 (100%)||2 (7.7%)|
|3||Closed without relief||24||24 (100%)||11 (45.8%)|
|4||Closed with relief||9||9 (100%)||2 (22.2%)|
|5||Closed with non-monetary relief||4||4 (100%)||1 (25%)|