New Quick Processing Service

August 20, 2014

Banco Popular recently launched a new service: Quick Payment. This service processes even faster the payments you make through My Online Bank and Telepago Popular® to the Aqueducts and Sewers Authority (PRASA), the Electric Power Authority (PREPA), PRT/Claro and the Banco Popular reserve line of credit.

Once you log in to My Online Bank and click on “Make Payments”, you will see your list of payees. Those payees that participate in the Quick Payment service are identified with an icon for easy identification.

When you send a payment to one of these payees we will instantly debit the amount from your checking or savings account. (If you don’t have enough funds to cover the payment, it will not be accepted.) If you pay with a credit card, we’ll verify your line of credit when we process the transaction.

This allows us to process and send your payment to the merchant on the same day, reducing the time in which your payments are reflected in your account statement. Payments to PRT/Claro will be credited the same day and payments to PRASA will be credited one working day after the payment is made. Payments to PREPA will be credited two days after you’ve made the payment.

Keep in mind that My Online Banking has over 5,000 registered payees. This allows you to send your payments in a single session, from the same place and without lines.  We’ll always give you an approximate date in which the payee will receive your payment.

In addition, we’ll email you a stamped payment receipt that guarantees the validity of your payment, as if you’ve made it at a branch. If you need a receipt after you’ve made a payment, no problem: you can access your payment receipts of the last 13 months.

For more information about the Quick Payment service, click here.