Evolution of banking services in Puerto Rico

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Cheryl Moderator

Member since 15 October 2018

CherylModerator25 September 2023 04:48:05

12363

Hello everyone,

With rapid technological advancements, banking services are digitizing at lightning speed. Expats are thus propelled into a new era of options and payment methods, disrupting the traditional banking services of local establishments in Puerto Rico. An evolution that presents a range of opportunities and challenges on a local scale.

Share your experiences regarding the evolution of bankings services in Puerto Rico:

To what extent are the latest banking technologies being adopted and utilized in Puerto Rico? (contactless payments, phone-based payment systems, QR codes, etc.)
What are the advantages and disadvantages?

Are new payment methods emerging in Puerto Rico? Which ones, and what does it change in your daily life?

What are the advantages of using local bank services versus an international online banking service as an expat?

Are there specific features in banking apps that you find particularly helpful as an expat in Puerto Rico?

By sharing your experiences and insights, you contribute to a broader understanding of the evolving banking landscape for expats in Puerto Rico.

Thank you for your contribution.

Cheryl
Expat.com Team

techdispatch Active member

Member since 01 February 2023

techdispatchActive member25 September 2023 12:08:18

@Cheryl Good Morning Cheryl: Having retired here a year ago, I've had no issues on the island. Pretty much all banking tech is here. By cell phone, landline, laptop, phone apps check deposits or tranfers as well as bill pmts., it' s just the same as the mainland. The prefered or most popular cell phone payment used is ATH Mobil. Seems most every day payment transactions are prefered by consumers and sellers alike. This app. is transacted available thru BPPR (Banco Popular de Puerto Rico), they provide a high end and excellent security protocols as far as I can tell. I'm guessing all other banks on the island as well. That's all I have to share...

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