Frequently Asked Questions

 

We are here to help you. Here you will find the answers to the most frequently asked questions related to the integration process in stages.

General Questions

How does the acquisition of Banco Santander Puerto Rico benefit me?

After FirstBank's acquisition of Banco Santander Puerto Rico, you will have a financial institution with greater resources to help you fulfill your goals and continue bringing you the top quality service that you are accustomed to. As an immediate benefit, you may use more than 445 ATMs, free of charge.

Once the integration process is completed, you will have access to:

  • A network of 73 branches throughout Puerto Rico, with greater presence on the entire island
  • 100 Depósito Expreso automatic teller machines where you may deposit cash or checks at any time
  • An extensive portfolio of financial products and services, including cutting-edge Digital Banking alternatives to address the needs of our individual and commercial customers
  • A network of professionals willing to offer you the best service in the financial industry

What will happen to my products from Banco Santander Puerto Rico?

For the time being, all your products from Banco Santander Puerto Rico will remain the same, with the exception of mortgage and insurance products that have already completed the transition process. Stay tuned for future updates on the next stages of integration.

When will my account or product from Banco Santander Puerto Rico be integrated to FirstBank?

The process for integrating products has been designed in stages to minimize any impact on the services we provide. Mortgage and Insurance have already completed the integration process to FirstBank. We encourage you to keep checking your mailbox, email, and social media for more details on each step of the transition.

Will you make changes to the terms and conditions of my products from Banco Santander Puerto Rico?

For the time being, the agreements and functions of your financial products and services from Banco Santander Puerto Rico will remain the same. As part of the integration process, should there be any change, you will receive details about the new terms and conditions of your products.

How will you notify me concerning the changes to Banco Santander Puerto Rico's products and services?

As part of the integration process, we will notify you of any changes in your products and services through mail and email. We encourage you to contact us at 787-281-2000 and validate your contact information as it appears in our system.

Questions About Deposit Products and Credit Cards

What will happen to my Banco Santander Puerto Rico account?

Until the integration process is completed, your accounts and products, as well as their terms and functions, will remain the same. You should keep an eye out for official communications during the integration process, since these will notify you of any possible changes.

Will I have access to the funds in my Banco Santander Puerto Rico account?

Yes, you will have access to the funds in your account as usual

Will I keep the same account number as the one from Banco Santander after the purchase or will FirstBank change the account number?

Will I receive a new debit or credit card with the FirstBank logo or can I continue using my current card from Banco Santander Puerto Rico?

For the time being, you will continue using your debit or credit card from Banco Santander Puerto Rico, as the integration process has not started. If your debit or credit card expires before the integration, you will receive a replacement by mail with the Banco Santander Puerto Rico logo and you may use it as usual. During the integration process, we will issue new cards with the FirstBank logo. For more information, keep an eye out for our official communications.

Will the PIN number of my debit or credit card from Banco Santander Puerto Rico change?

No, the PIN number of your debit or credit card will not change since you may continue using your current card. During the integration process, we will send you new cards with sufficient time for you to activate them and not be affected.

If I receive direct deposits to my account from Banco Santander Puerto Rico or if I have programmed payments or direct deposits, do I have to do anything?

For the time being, FirstBank will not make changes to your account numbers. Therefore, you may continue receiving your direct deposits and programming your automatic payments or debits as usual. You must be alert to official communications during the integration process to learn about any changes.

What will happen to my FDIC coverage if I have deposits in both FirstBank and Banco Santander Puerto Rico and, when the two banks integrate, my deposits go over the $250,000 amount?

The FDIC insurance amount is $250,000 per depositor, per insured bank, for each category of account ownership. When two or more banks merge, the deposits in the bank that has been acquired are insured separately from the deposits in the acquiring bank, for a period of six (6) months from the date of the merger. This grace period gives depositors the chance to restructure their accounts, if necessary. The certificates of deposit (CDs) of the acquired bank are insured separately until the expiration date after the grace period has ended. The CDs that expire within the period of six (6) months and are renewed for the same term and in the same monetary value (either with or without accrued interest) will continue to be insured separately until the first expiration date after the period of six (6) months. If a CD expires within the grace period of six (6) months and is renewed with any other criteria, it would be insured only until the end of the grace period of six (6) months. For more information about FDIC coverage, you may visit https://www.fdic.gov/deposit/covered/categories.html

Questions About Bank Products and Services

Must I keep sending my payments by mail to Banco Santander Puerto Rico or must I now send them to FirstBank?

You must continue sending payments for your products from Banco Santander Puerto Rico to the address in your booklet or the one you usually use. During the integration process, you will receive details of any change in the manner in which to send your payments.

I am a Banco Santander Puerto Rico customer. Must I create a FirstBank Tu Banca Digital account to see and manage my accounts online?

As a customer of Banco Santander Puerto Rico, you will continue accessing Santander eBanking and the Santander PR app to see your accounts, make payments, and complete other transactions until the integration of your account to FirstBank is completed. For more details, be alert to official communications during the integration process of different products.

Can I call FirstBank for customer service about my accounts from Banco Santander Puerto Rico?

To better assist you until we complete the integration process, you must continue calling Banco en Casa at 787-281-2000 or 1-800-726-8263 for customer service. You must be alert to official communications during the integration process to learn about any changes.

Will FirstBank honor deferments due to COVID-19 and the Loss Mitigation procedures with Banco Santander Puerto Rico?

Deferment agreements due to the COVID-19 pandemic and Loss Mitigation procedures regarding mortgage loans for the products with Banco Santander Puerto Rico will continue as usual, per agreement with the bank. For more details, be alert to official communications during the integration process.

Questions about branches and ATMs

I read that FirstBank bought Banco Santander Puerto Rico. Can I make transactions related to Banco Santander Puerto Rico in FirstBank branches?

Until the integration process is completed, both banks' operations will continue working independently. Therefore, you must use the branches and channels of the bank from which you acquired your product. As part of the integration process, the products from Banco Santander Puerto Rico will be transfered to FirstBank in stages. For your benefit, once your product from Banco Santander Puerto Rico is transferred to FirstBank's systems, you may use FirstBank's branches and channels. Likewise, you may make payments and deposits with checks at the branches of Banco Santander Puerto Rico, also using the transaction mailboxes located at these branches.

 

What are the business hours of Banco Santander Puerto Rico branches after FirstBank purchased it?

For the time being, our branches will continue operating during regular business hours. For updated information on Banco Santander Puerto Rico business hours, we encourage you to consult the branch search engine on their website, santander.pr, or on the Santander PR app. You may also call us at 787-281-2000 or 1-800-726-8263.

Can I use the ATMs of both banks free of charge?

Yes. As of September 1, 2020, you may use the ATMs of both FirstBank and Banco Santander Puerto Rico to verify balances and withdraw cash without service fees. To find the closest ATM, click here.

As a customer of Banco Santander Puerto Rico, can I use FirstBank's Depósito Expreso ATMs to deposit checks or cash?

For the time being, and until the conversion process of your deposit account is completed, you must continue using Banco Santander Puerto Rico's Depósito Simple ATMs to deposit your checks or cash. However, you may continue using the ATMs with Depósito Expreso, as well as other FirstBank tellers to withdraw cash or verify the balance of your accounts free of charge.

 

Questions about commercial clients

As a Banco Santander Puerto Rico commercial customer, what benefits will I have with FirstBank?

As part of this acquisition, and once the integration process is completed, you will have the benefit of a financial institution with presence in several regions (Florida, United States, and Virgin Islands) and a focus on decision-making at a local level. This allows us to work with you to offer a great variety of solutions in a speedy manner and a service experience centered on offering the best service in the industry. To assist our commercial customers, we have liaison officers with extensive experience and knowledge to manage from the simplest to the most complex and sophisticated needs of an ample variety of industries and types of enterprises.

How will the account/service of Banco Santander Puerto Rico commercial customers change?

Until we complete the integration process, as a commercial customer of Banco Santander Puerto Rico, you will have access to your current accounts, products, and functions of Banco Santander Puerto Rico with the same number, and you will be able to continue making payments as usual. Also, the liaison officer that currently assists you will continue providing this service, and you will continue making your transactions at the branches and offices of Banco Santander Puerto Rico.

 

Will the person who manages my commercial relationship at Banco Santander Puerto Rico change?

For the time being, there will be no changes in the officers that manage your commercial accounts in the branches or central offices.

As a customer of Banco Santander Puerto Rico, can I continue using its digital platforms for commercial transactions to verify my account balances and complete transactions, or must I sign up for FirstBank's platforms?

For now, you may continue using Banco Santander Puerto Rico's digital platforms and you do not have to sign up for FirstBank's platforms.  Be alert to official communications for more details about the integration process and any changes on your platforms.

Will the commercial account numbers from Banco Santander Puerto Rico change?

As a commercial customer of Banco Santander Puerto Rico, you will continue accessing your accounts and products with the same number, since the integration process has not started. The agreements and functions of your products will also remain the same. We will provide more details about possible changes, if any, during the integration process.

Will I be able to change checks or make deposits from my Banco Santander Puerto Rico account at FirstBank branches?

Until the integration process is completed, you will continue making your transactions only at Banco Santander Puerto Rico branches. For more information, we encourage you to keep an eye out for official communications during the integration process.

Should I keep managing my payment processing service (POS) with Elavon?

For the time being, as a commercial customer of Banco Santander Puerto Rico, your payment processing service with Elavon will not change. Further on during the conversion process, you will receive information of any changes to your services.

Questions about your mortgage loan

Why did I have received a letter about the transfer of my mortgage loan to FirstBank?

FirstBank acquired Santander on September 1, 2020, so your loan is now part of our mortgage portfolio.

Will my mortgage account number change?

Customers of Banco Santander Puerto Rico will keep the same mortgage loan number.

Will the terms and conditions I had with Banco Santander be the same?

The original terms and conditions of your loan, such as its term, interest, and monthly payments (P&I) will remain the same. However, the amount related to property taxes, property insurance payments, credit insurance, or any other type of optional insurance may vary.

How should I make my payments up until September 30, 2020?

You can make your mortgage payments using any of the following options:

  • Direct debit using your account from Santander, FirstBank account, or another financial institution
  • At any Santander branch, through their tellers or by depositing your payment in the transaction mailbox
  • Santander eBanking, by accessing www.santander.pr or the Santander PR mobile application
  • Via the Loan Collections telephone service, at 787.625.2858, or toll-free at al 1.800.981.4100
  • By mailing your payment to Banco Santander PO Box 362589 San Juan PR 00936-2589

How should I make my payments starting on October 1, 2020?

You can make your mortgage payments using any of the following options:

  • Direct debit using your account from Santander, FirstBank account, or another financial institution
  • At any FirstBank Puerto Rico branch, through our tellers or by depositing your payment in the transaction mailbox
  • Through Online Mortgage Services at https://firstbankpr.customercarenet.com/ 
  • By calling 787.283.4120 or 1.800.983.4120 
  • By mailing your payment to FirstBank PO Box 8318 San Juan PR 00910-0318
  • At your nearest FirstBank branch, through a teller or by depositing your payment in the transaction mailbox 
  • At your nearest Banco Santander branch only by depositing your payment along with the coupon in the transaction mailbox by 2:00 pm

Can I mail my payments?

Yes, you can mail your payments to: FirstBank PO BOX 8318 San Juan PR 00910-0318. You may also use one of the following: automatic debit option, paying at a FirstBank branch, via Online Mortgage at https://firstbankpr.customercarenet.com/, or by calling 787.283.4120 or 1.800.983.4120.

Who should I write my checks out to?

Up until September 30, 2020, you should write your check out to Banco Santander. Starting on October 1, 2020, you should write your check out to FirstBank.

Will I receive a new payment coupon book?

Since your loan number will remain the same, you can keep using your current payment coupon book or account statement from Banco Santander. We will mail you a new payment coupon book or account statement with the FirstBank logo in the next couple of months. If you need to make a payment and have not received the new coupon book, please refer to the options in questions 4 and 5 above. 

My account has automatic debit set up. Will payments still be processed as usual?

Yes, we will continue processing the automatic debit you set up and will keep collecting from the checking or savings account you registered with Banco Santander for your mortgage payments. Only during October, the automatic debits programmed for the days 1 to 8, will be processed on October 9.  From November on, the automatic debits will, return to their normal schedule.

Questions about FirstBank Insurance

Who or what is FirstBank Insurance?

FirstBank Insurance Agency, LLC is an Authorized Representative and General Agency, duly approved by the Office of the Commissioner of Insurance, with over 16 years of experience providing and managing life, disability, credit, property, and casualty insurance services in order to offer the most adequate solutions to our customers. 

The Agency represents most Insurance Companies authorized to do business in Puerto Rico and holds a Surplus Lines Broker License. We cover all the bases, always driven by our distinctive personalized service.

When was this transaction completed?

In late 2019, we entered an agreement with Banco Santander to acquire the entire insurance portfolio from Santander Insurance Agency, which will be managed by FirstBank Insurance Agency. This agreement was finalized on September 1, 2020.

What are the implications of the transaction between FirstBank Insurance and Santander Insurance?

FirstBank Insurance acquired the rights as Authorized Representative to serve the entire portfolio of credit, commercial, real estate, automobile, life, and cancer insurance, among others.

How does this transaction affect me as an insurance customer?

At FirstBank Insurance, we have a professional team ready to help you with your service and claims management needs within a technological environment. One of the positive effects of this transaction is that FirstBank will not only service your loans or credit lines, but now FirstBank Insurance will also manage your insurance.

Will the terms and conditions of the insurance I acquired through Santander Insurance change after FirstBank Insurance takes over the services of my account?

All insurance products will keep the same terms and conditions and remain under the same insurance company as it was with Santander Insurance, unless you request a change before the policy expires.  At the moment of renewing, we will contact you to notify you of any changes made to your current products. 

Will my policy effective date be affected?

No, the effective date of your policy will remain the same.

Will my policy number change?

No, for the moment being, your policy number will remain the same. However, we will notify you of any changes.  Additionally, the policy number could change upon its renewal.

Will FirstBank Insurance continue sending my insurance policy to my creditor?

Yes. Upon renewing a policy involving a creditor, FirstBank Insurance will send a copy of said policy and the bill to your creditor. The customer will also receive a copy of the renewal.

Who should I contact for questions or changes regarding my insurance policy or coverage?

For questions or information about your policy, you should call the FirstBank Insurance Service Center at 787-292-4380 or email us to [email protected] with details about your question or the change you wish to make. We recommend that you have your policy number and contact information at hand. Keep in mind that the change will not be effective until the insurance company notifies you by way of an endorsement.

What should I do if I have a claim to submit?

You should contact the FirstBank Insurance Service Center at 787-292-4380 with the following information:

  • Name
  • Mailing address
  • Property address
  • Phone/Fax/Email or contact information
  • Policy number
  • Insurance company
  • Date of accident
  • Type of loss and a description of the events
  • Name of person reporting the loss

I need to make a premium payment. Where should I send it?

You may issue your payment by regular mail to the following address:

FirstBank Insurance Agency (Code 600)
PO Box 9146
San Juan PR 00908-0146

You may also make your payment with charge to your VISA or MasterCard credit card. If you wish to use any of these methods, please call the FirstBank Insurance Service Center directly at 787-292-4380.
 

Where is FirstBank Insurance Agency located?

The headquarters of FirstBank Insurance Agency are in the FirstBank Service Center, at 1130 Ave. Muñoz Rivera, 2nd floor, Río Piedras, PR. 

What should I do if I do not wish to keep FirstBank Insurance as my insurance representative?

At FirstBank Insurance, we are committed to providing you an excellent service. We hope to remain in your trust to provide you with guidance on your insurance coverage and to stand by your side in the event of a claim. Nonetheless, we acknowledge you are entitled to choosing your authorized insurance representative or insurance producer of preference.

You received a communication from FirstBank Insurance notifying you of the acquisition of the insurance policy portfolio from Santander Insurance. If you opt to choose another producer, you must notify us within ten days after receiving said communication. You will need to send an appointment letter, including the full name of your new representative and your policy number, to the following address:

FirstBank Insurance
PO Box 9146
San Juan PR 00908-0146

If we do not receive said communication from you, FirstBank Insurance will continue representing you as your insurance agency.

Frequently Asked Questions

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