Mi Banco gives you the convenience of making and scheduling your payments no matter where you are. Below you’ll find answers to the three most frequently asked questions about the process.
How quickly are payments made through Mi Banco sent to merchants?
Mi Banco works based on Real-Time Debit. That is, the debit is made instantly to your account and we will send the payment to the merchant (payee), in some cases, as fast as the same business day
1. In addition, you can schedule your payments in advance, so payees receive them on the date you designate—Mi Banco even helps you with that!
Here you can see the most common payments and when Popular
sends the payment to the merchant. Payment
processing time depends on each business.
When Popular sends the payment to the merchant2:
Transactions conducted from Monday to Friday (excluding federal holidays), on or before 5:00 p.m. (AST).
Common Businesses |
Same Day |
Next Day |
2 Days |
Utilities: water and electric power |
|
PRASA and LUMA |
|
Cellular service companies |
PRT/CLARO3 |
AT&T, T-Mobile and Sprint |
|
Cable TV |
DirectTV3 |
Liberty |
Dish |
Credit cards |
Credit cards issued by BPPR4 |
Credit Cards from local banks |
Credit Cards from U.S. banks |
Mortgages |
BPPR mortgages4 |
Mortgages from local banks |
Mortgages from U.S. banks |
Loans |
BPPR loans4 |
Loans from local banks |
Loans from U.S. banks |
Government agencies |
|
X |
|
Health insurance plans |
|
X |
|
Transactions conducted from Monday to Friday after 5:00 p.m. (AST) and those held on Saturday, Sunday, and federal holidays:
Common Businesses |
Next Day |
2 Days |
3 Days |
Utilities: water and electric power |
|
PRASA and LUMA |
|
Cellular service companies |
PRT/CLARO3 |
AT&T, T-Mobile, and Sprint |
|
Cable TV |
DirectTV3 |
Liberty |
Dish |
Credit cards |
Credit cards issued by BPPR4 |
Credit cards from local banks |
Credit cards from U.S. banks |
Mortgages |
BPPR mortgages4 |
Mortgages from local banks |
Mortgages from U.S. banks |
Loans |
BPPR loans4 |
Loans from local banks |
Loans from U.S. banks |
Government agencies |
|
X |
|
Health insurance plans |
|
X |
|
Preprogrammed payments
If you have recurring payments (preprogrammed automatic payments)
5 for BPPR credit cards, BPPR mortgages, BPPR loans, Direct TV and Claro, the payee will receive the payment on the day the transaction takes effect (the date you assigned), as long as the date is from Monday to Friday, excluding federal holidays. If the date falls on a non-business day or federal holiday, the effective date will change to the next business day.
AAA, LUMA, Liberty, AT&T, T-Mobile, Sprint, and other local banks will receive their payments on the next business day
after the day the transaction takes effect (the date you assigned). Recurring payments to Dish and banks from U.S. will be received in 2 business days.
How do I register merchants (payees) and make my payments?
-
- If you have already made payments using the TeleBanco Popular® system, those payees will appear in your Mi Banco Online account, on your computer and in the Mi Banco Mobile application.
- If you have not made payments using TeleBanco Popular® or have not registered payments in Mi Banco, adding new accounts such as cable TV, mortgages, credit cards, health insurance plans and government agencies’ services is easy. Log in to Mi Banco Mobile, go to the Payments menu, select Add Businesses, and choose or add the appropriate payee.
-
-
- For more details on how to register a payee and make a payment, watch the following videos:
Are you concerned about security?
When you use Mi Banco Online (desktop), access is protected by your password; if you use Mi Banco Mobile you have the convenience of using fingerprint or face recognition. We recommend that you activate the
2 Step Verification6 tool to add an additional security level for logging in to your account. When you log-in to Mi Banco Online, all information is sent encrypted using the SSL (Secure Socket Layer) protocol.
You can also sign up for
Mi Banco Alerts7 to receive push notifications, emails or text messages with payment confirmation and receipt number. This ensures that the transaction was successfully completed, and the payment amount was correct.
Easier than that, it’s almost impossible. If you have additional questions, please use our chat feature at
popular.com/chat or call TeleBanco Popular
® at 787.724.3659.
Member FDIC. Service offered by Banco Popular de Puerto Rico.
1Subject to availability of funds in your account. As long as the payment has been made on or before 5:00 p.m. a business day to a payee identified in the list with “Fast Delivery.”
2Payments made in Mi Banco by check: the time in which the merchant receives the payment depends on the federal mail.
3The company receives and processes the payment immediately. Subject to availability of funds in your account. Payments to CLARO made between 3:00 a.m. and 10:00 p.m. will be reflected on their systems instantly. Payments to CLARO made between 10:00 p.m. to 3:00 a.m. will be reflected on their systems after 3:00am.
4Popular receives and processes the payment the same day. Subject to availability of funds in your account.
5Recurring payments are automatic payments that are preprogrammed for the same day in a given period (for example, every month on the same day) or automatic payments that are preprogrammed for future dates.
62-Step Verification is a free service Banco Popular de Puerto Rico offers its clients. Charges may apply for text messages or data excess according to your cell service plan. Check with your service provider to find out more about your plan.
7Alerts and notifications by SMS is a free service Banco Popular de Puerto Rico offers its clients. Charges may apply for text messages or data excess according to your cell service plan. Check with your service provider to find out more about your plan.