Compare These Top Vendors for Banks in Puerto Rico

There is no Central Bank in Puerto Rico, but the U.S. Federal Reserve Bank takes on that responsibility.  The Federal Deposit Insurance Program also guarantees all deposits up to $100,000.

Electronic banking is growing in popularity in Puerto Rico. There are also all basic banking services in Puerto Rico. Residents use Automated Teller Machines to bank. They're known as ATH's, a name that comes from the initials of the first electronic banking system developed in Puerto Rico.

In this guide, you'll read how to:

1. Learn how banking is handled in Puerto Rico.
2. Find banks in Puerto Rico that fit your business needs.
3. Get the best deal on services and interest rates from banks in Puerto Rico.

Do some research into how banking in Puerto Rico works

Doing business banking in Puerto Rico is not necessarily the same as doing business in the United States. To protect yourself and your business, read up on how the system works before opening accounts.

Find banking institutions in Puerto Rico

There are several banking institutions in Puerto Rico, but not nearly as many as there are in the United States.

Know that Banco Popular is the largest bank in Puerto Rico

Banco Popular has been operating in Puerto Rico since 1893. It's been in the United States for more than 50 years. It's the parent company of other commercial banks in Puerto Rico, too.

Shop around among Puerto Rico banks for the best services

Competition runs rampant between banks in Puerto Rico. You should shop around for the best services, lowest interest rates and service charges.