Direct Payment Benefits

October 12, 2016



Have you ever forgotten to make a personal loan payment? A good way to avoid this situation from occurring again is to register for Direct Payment. Through this service, you authorize the Bank to make a direct debit to your account for the corresponding payment, avoiding late charges.

Advantages of Direct Payment

  • It’s easier: Your monthly payment amount is debited automatically from your checking or savings account every month. That way you do not have to remember the dates payments are due.
  • You are up to date: It’s the most efficient way to always be on time for the monthly payment of your loans.
  • Saves you time: You do not have to wait in line to make the payments.
  • More security: You avoid having cash on you; the process is made automatically and electronically.  
  • Saves you money: You do not have to spend money on checks, envelopes or postage to send the payments by mail. You also avoid additional charges for late payments.  
  • Other advantages: By registering to Direct Payment and by having or opening any of the following Popular products: deposit account (MultiCuenta®, MaxiPremium®, Popular Plus® or PMA®), a credit card, or reserve line of credit, you save 0.50% on interest in your monthly payment. These discounts apply only at the time of your loan disbursement.

As you can see, the benefits of direct debit are numerous. Call TeleBanco Popular® at 787-724-3650 to subscribe to Direct Payment.

Banco Popular is Member FDIC.