What happens to your Banco Popular accounts when you die

Personal Checking Account

BPPR's Puerto Rico Deposit Account Agreement offers Solely Owned (Individual) and Joint ownership, plus a power of attorney — it lists no Payable-on-Death, In-Trust-For, or trust ownership type for Puerto Rico accounts. A joint account gives each owner complete control while all owners are living ("joint and several"), but the agreement does not grant a right of survivorship on Puerto Rico accounts, and BPPR's own liquidation practice issues one check payable to the heirs of the succession together with the registered joint owners. A power of attorney ends at the principal's death.

Popular Premium Account

Exclusive account for Popular Premium program clients that combines checking and savings in one account with tiered interest rates, a Platinum card, and preferred access. Because it consolidates balances, its aggregate balance is what matters for the two estate thresholds: the $2,000 affidavit alternative and the $15,000 Relevo de Herencia requirement are both measured on the total funds across all of the deceased's accounts.

Private Management Account

Exclusive account for Popular One customers, providing tiered interest and consolidating the customer's Popular banking relationships into a single statement. That consolidated statement is useful evidence when requesting the Certification of Banking Relationships, which inventories the deceased's assets and debts with Popular.

Savings Account

Same ownership rules as checking: Solely Owned or Joint, with no POD/TOD or trust ownership available on Puerto Rico accounts. Sole accounts pass through Puerto Rico succession (Declaration of Heirs or will).

U-Save

Named savings product in BPPR's Puerto Rico savings line. Balances count toward the aggregate used to test the $2,000 affidavit alternative and the $15,000 Relevo de Herencia threshold.

Certificate of Deposit

BPPR's Puerto Rico CD line includes CD5 (a 5-year certificate whose tiered rate rises automatically every six months, withdrawable at any time with no penalty or charge) and the CIMA Certificate of Deposit. A CD held by a deceased customer is settled through the same Estate Processing liquidation as a deposit account; there is no beneficiary designation to claim against. The separate Contrato de Certificado de Depósito (https://www.popular.com/assets/pdf/Contrato_CD.pdf) governs the certificate itself.

Educational Contribution Account (CAE)

Puerto Rico's Cuenta de Aportación Educativa, offering tax deductions beyond those of a traditional IRA and governed by its own contract (https://www.popular.com/assets/pdf/Contrato_CAE.pdf). It is a Puerto Rico tax-favored account rather than a mainland 529 or Coverdell, so its treatment at the contributor's death is set by that contract and by Puerto Rico succession law, not by a POD/TOD designation.

Individual Retirement Account (IRA)