Consumer complaint received 2025-04-29 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Opening an account — Unable to open an account
Company: BANCO POPULAR DE PUERTO RICO
State: PR

Complaint narrative:
Multiple date at diifent Banco Popular brances in XXXX XXXX XXXX  XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, on XXXX  XX/XX/XXXX,. I provided the brance manager with the required EIN number under my business name " XXXX XXXX XXXX XXXX XXXX '' the bank managers refused to allow me to open up abusiness account because I didn't have the required XXXX XXXX XXXX XXXX XXXXXXXX at the time, on the XXXX I went and obtained the required XXXXXXXX XXXX XXXX XXXX XXXXXXXX Registration number as required, on XX/XX/XXXX. Branch at XXXX XXXX  XXXX Assistant XXXX XXXX XXXX declined to allow me to open a business account after proviging her with the required information as noted, they claim that the name of my XXXX " XXXX XXXX XXXX XXXX '' was not suitable to established an account simply because I had chosen this name which they claim doesn't reflect it's intended purpose, since I had purchased a multiple dwelling unit in XXXX on XX/XX/year>, I simply wanted to ustilize this name as my XXXX, they went on to question me concerning my residential status as to whether I would be applying for XXXX XXXX, XXXX or Act XXXX which has nothing to do with opening a business account, XXXX branch manager said that she would allow me to open my account with my valid US Passport, XXXX XXXX  XXXX a copy of my social security number while the othe branch XXXX had declined in saying that I would need an original copy of my social security number, in addition this branch manager requested a copy of my home titled and reviewed it page by page and stated that the title description was inaccurate since I had mentioned to her that the property was a 3 unit property and not a two unit as described on the property title. I went on to mention that I had purchased the property in cash ( bank certified check ) because I was purchasing the property " as is '' unknowingly to me that the property had an additional unit that was not recored on record, my question to her was what does that have to do with me in requesting to opening an account with Banco Popular, she began to question whether I would rent or Airbnb the unit ( XXXX ). I told here that for the time being I will utilize XXXX of the units as my vacation home and the othe unit I will either rent of Airbnb the unit ( XXXX ) once the renovation work is completed, this brance manager had directed me to go to the local Social Security Administration office and request for a certified copy of my social security number, after going to the local social security office I was informed that it would take at least 10 to 14 business day for me to receive my social security card by mail, the case manager that was handling my request said that there was no way of her certifying my request for a certified copy and that she can only provide me with a print out form which would only show that I have requested for a copy of my social security number. I find that their practices to be invasive and intrusive in going above and beyound what was required according to banking regulation. I simply wanted to open a business account because I have contractors that are doing multiple task renovation work on my new purchase property and some contractors would not accept my banking checks from XXXX XXXX XXXX simply because they would take too long to clear, also the importance of estatblishing a business account here is because I do need to keep an adquate account on my expeditures of my expenses here for tax filing and tax deduction purposes. I am a license real estat sale agent in XXXX, NY, a propery manager and owner that owns several properties in XXXX, NY as well as being a stock day trader. I provided all this information to the when asked. The banks have copies of my business EIN number, XXXXXXXX XXXX XXXX XXXX XXXXXXXX, my US valid Passport that was presented to them, copy of my social security number and a copy of my contractual title of the property that I had purchased at XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX.

Company response to consumer: Closed with explanation