Overdraft Protection — Popular, Inc.

Overdraft Protection from Popular, Inc. is a flexible account safeguard designed to help you avoid declined transactions, returned checks, and unexpected fees when your checking account balance falls short. Built to work seamlessly with your everyday banking, this service provides a safety net that covers eligible transactions at the point of sale, by check, and during electronic transfers — giving you confidence and continuity in your financial routine.

Key Benefits

• Automatic coverage: When you opt in, eligible transactions that would otherwise be declined can be covered automatically, helping you maintain access to funds for purchases, payments, and recurring debits.
• Reduced risk of returned payments: Avoid the embarrassment and cost of bounced checks or failed bill payments that may result in late fees or service interruptions.
• Flexible funding sources: Link your checking account to other qualifying accounts or a line of credit to create a layered protection strategy that fits your needs.
• Transparent policies: Popular, Inc. provides clear rules and disclosures about how overdraft coverage is applied, how fees are charged, and how you can manage or terminate the service.
• Peace of mind for everyday banking: Whether you’re paying bills, shopping, or using your debit card, overdraft protection reduces the stress of occasional shortfalls.

How It Works

Overdraft Protection at Popular, Inc. monitors eligible transactions against your available balance. If a check, debit card purchase, ATM withdrawal, or automatic payment would create a negative balance, the overdraft service will cover the shortfall up to the approved limit, subject to the bank’s terms and conditions. Coverage can be triggered by:

• Debit card purchases designated as eligible for overdraft coverage.
• Checks and other paper-based withdrawals presented for payment.
• Automatic bill payments and recurring transfers.

Once covered, the overdraft amount and any applicable fees are added to your account balance as a negative balance that must be repaid. Many clients use the service temporarily to bridge gaps between deposits or to prevent short-term financial disruptions.

Enrollment and Eligibility

Signing up for Overdraft Protection is straightforward. Eligible customers can enroll through Popular, Inc.’s online banking platform, mobile app, or by contacting customer service. Typical eligibility requirements include:

• An active checking account in good standing.
• Verification of identity and residency as required by bank policies.
• Agreement to the overdraft disclosure and fee schedule.

You can choose the funding source for protection — a linked savings account, another deposit account at Popular, Inc., or an approved overdraft line of credit. Each option has different cost and repayment characteristics.

Fees and Limits

Popular, Inc. offers clearly defined fee structures and overdraft limits that are disclosed at enrollment. Fees may include per-incident charges for each transaction that creates an overdraft, and there may be daily maximums or other caps to limit cost exposure. An overdraft line of credit option typically charges interest rather than per-incident fees.

Before enrolling, review the specific fee schedule and account agreement so you understand:

• Per-transaction overdraft fees (if applicable).
• Daily or aggregate fee limits.
• Interest rates and repayment terms for overdraft credit lines.
• Conditions that may lead to termination of overdraft privileges.

Managing Overdrafts

Popular, Inc. provides several tools to help you manage and minimize overdraft use:

• Real-time balance alerts via mobile or email to warn you when funds are low.
• Linked accounts for automatic transfers to cover shortfalls.
• Online and mobile banking to review transactions and resolve disputes quickly.
• Optional limits on overdraft coverage to control exposure.

Why Choose Overdraft Protection from Popular, Inc.?

Popular, Inc. focuses on customer-centered banking with straightforward products that integrate into daily life. Overdraft Protection is designed to be:

• Reliable: Backed by experienced banking operations and clear processing rules.
• Flexible: Multiple funding options let you tailor protection to your financial habits.
• Transparent: Clear disclosures and tools help you understand costs and manage activity.
• Supportive: Customer service teams are available to explain options and assist with enrollment or account questions.

Common Questions

Will every transaction be covered? Coverage applies to eligible transactions as specified in the overdraft agreement. Some transactions may not be eligible for coverage, so it’s important to review the terms.

How do I repay an overdraft? Overdrafts are repaid when deposits are made to the account. If you use an overdraft line of credit, repayment follows the line’s terms, including minimum payments and interest.

Can I turn off overdraft coverage? Yes. You can opt out or change your overdraft preferences through online banking, the mobile app, or by contacting customer service.

Tips to Avoid Overdrafts

• Set up low-balance alerts to know when your account is approaching zero.
• Link a savings account or line of credit as a backup funding source.
• Keep a running balance in your check register or mobile app to reconcile pending transactions.
• Schedule deposits and bill payments to align with expected cash flow.

Security and Privacy

Protecting your account information is a priority. Popular, Inc. employs secure systems and privacy practices to safeguard your data and secure transactions. You are encouraged to use strong, unique passwords for online access and to enable available security features such as multifactor authentication.

Conclusion

Overdraft Protection from Popular, Inc. is a practical tool to prevent declined transactions and returned items while offering flexible funding choices and transparent terms. Whether you want the convenience of automatic coverage or the predictability of a linked account or credit line, Popular, Inc. provides options to fit your needs and help you manage your finances with greater confidence.