All Popular Direct deposit products are offered by, and will be opened through, Banco Popular North America (“BPNA”). BPNA is a Member FDIC institution and a New York state chartered bank. Processing services for all Popular Direct deposit products are provided by BPNA. All deposits with BPNA (including deposits through Popular Direct deposit products) are insured by the FDIC up to the applicable maximum amount allowed by law for each deposit ownership category. All balances for Popular Direct and BPNA deposits would be combined for purposes of determining FDIC coverage eligibility.
For more information about FDIC insurance coverage of deposits accounts, visit https://www.fdic.gov/deposit/deposits