Fulton Bank Review: A Regional Bank With a Variety of Account Offerings
Written by
Allison Hache
Edited by
Susan Kim
Commitment to Our Readers
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GOBankingRates Score
Fulton Bank
-
Checking Accounts
4.0
-
Savings Accounts
3.5
-
CD Accounts
4.0
-
Money Market Accounts
4.0
-
Banking Experience
5.0
Pros
- Many types of accounts available
- More than 200 branches for regional customers
Cons
- Low APYs
- Branches in five states only
Fulton Bank Overview
Fulton Bank is a subsidiary of Fulton Financial Corp., a financial services holding company with $27.2 billion in assets. The bank serves customers in Pennsylvania, Delaware, Maryland, Virginia and New Jersey. It offers personal banking products, such as checking, savings and money market accounts and certificates of deposit, in addition to commercial and business accounts and loans.
GOBankingRates has ranked Fulton Bank among the Best Northeast Regional Banks of 2024.
Fulton Bank Review
Here are the details on key features to consider to help you decide whether Fulton Bank is the best bank for your needs.
Checking Accounts
Fulton Bank’s broadest array of accounts comes in its checking account lineup, with five options: Xpress Account, Simply Checking, Interest Checking, Relationship Banking and Premier Relationship Banking. All of the accounts come with online and mobile banking and online statements.
The Xpress account is an online-only option and doesn’t include check writing. Interest Checking, Relationship Banking and Premier Relationship Banking all pay interest. Fulton Bank’s Interest Checking account offers a APY.
Only one comes with no monthly fee, and that is Simply Checking. Here’s a look at the monthly fees for the other four options and how they can be waived:
- Xpress Account: The Xpress account is good for younger people because it has a $4.95 fee that is waived when the primary account holder is 13 to 24 years old.
- Interest Checking: This account is best for older people or younger people who will be able to maintain minimum balance requirements. The $10 fee for the Interest Checking account only applies to customers under 50 and is waived with a $1,000 minimum daily balance.
- Relationship Banking: If you plan to keep $5,000 or more on deposit at all times, this account could be a good choice. The bank waives the $20 fee for Relationship Banking for accounts with a $5,000 minimum daily balance and one customer-initiated transaction per month or a combined $25,000 balance in bank-held deposit and investment accounts.
- Premier Relationship Banking: If you plan to keep at least a quarter of a million dollars on deposit, this could be a good account to choose. To waive the $30 fee for a Premier Relationship Banking checking account, account holders need a combined $250,000 balance in deposit and investment accounts and a customer-initiated transaction each month.
Savings Accounts
Fulton Bank has a single savings account, called Statement Savings, which has additional perks for account holders under 25. This account charges a $6 monthly maintenance fee that can be waived with a $100 minimum daily balance or if you are under 25. There’s no minimum deposit required to open the account at a branch, but there is a $25 minimum opening deposit if you open it online. Additionally, each statement cycle, the bank will rebate up to four out-of-network ATM charges, totaling a maximum of $10, for account holders under 25.
The APY for the Statement Savings account is APY, which is lower than you’ll find at many other banks, including those that offer high-yield savings options.
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CD Accounts
Fulton Bank offers traditional CDs with terms of three months to six years, but the rates are not the most competitive that you’ll find among banks. The APY for a three-month CD is , and for a six-year CD, the APY is . The bank also offers a no-penalty CD option, a variable-rate option and promotional CDs with higher rates. A $1,000 minimum deposit is required to open any of the bank’s standard CDs.
Money Market Accounts
Account holders who can maintain a minimum daily balance might be interested in Fulton Bank’s only money market option — the Platinum Money Market account. Standard rates start at APY for balances from $1,000-$9,999 and go up to APY. However, to qualify for the top rate, you must have a balance of $1,999,999.01 or more. No minimum deposit is required to open this account unless you open it online. In that case, you’ll need $25. The monthly maintenance fee is $15, which the bank will waive if you maintain a $2,500 minimum daily balance.
Banking Experience
Fulton Bank offers personal banking customers in-branch, online, mobile and ATM banking, and customers who live in the bank’s five-state service area should have no problem accessing a branch or ATM. Network ATMs accept cash and check deposits, and customers can deposit checks through the mobile app as well.
Customers who need additional assistance can send a message to the bank, call a toll-free number or schedule a meeting at a local branch. Customer service reps are available six days a week: Monday through Friday from 7 a.m. to 8 p.m. ET and Saturday from 8 a.m. to 3 p.m. ET. The bank also offers a 24/7/365 automated telephone banking line.
Fulton Bank’s mobile app gives customers access to their accounts to check balances, transfer funds, pay bills and deposit checks. Customers also can use the app to locate ATMs and local branches. The app has mostly positive reviews, earning a score of 4.8 out of 5 on the App Store and 4.4 out of 5 on Google Play. Users note the intuitive design and notification system as positive features.
Comparable Banking Options
Here’s a look at how Fulton Bank compares to other banking options you might consider.
PNC Bank
PNC has a bigger footprint than Fulton Bank, and it has branches in Fulton Bank’s service area. PNC’s Foundation Checking is an affordable no-frill option with a nominal $5 monthly service charge and free cashier’s checks. Customers who travel frequently and want access to fee-free ATMs may prefer PNC, but the larger bank doesn’t match Fulton Bank’s customer service.
First National Bank of Pennsylvania
First National Bank of Pennsylvania has a checking lineup similar to Fulton Bank, including a no-frills free account with check-writing privileges. Both banks offer similar savings accounts, but Fulton Bank requires a $100 minimum daily balance to avoid the monthly service fee, compared to the $500 requirement at First National Bank. First National’s service area includes more metro areas, as it has a presence in most of Fulton Bank’s area as well as the Carolinas.
Final Take
Although Fulton Bank has been around for over 100 years, it still only serves five states, which means it has maintained a strong regional focus. It’s best for customers who live in the bank’s service area and want a single bank to handle all of their financial needs.
Fulton Bank FAQ
Here are the answers to some of the most frequently asked questions about Fulton Bank.- Is Fulton Bank a good bank?
- Fulton Bank is a top-rated financial institution. The bank has been in operation for more than 100 years.
- Is Fulton Bank a real bank?
- Yes, Fulton Bank is a real bank that first opened its doors in 1882. This regional bank based in Lancaster, Pennsylvania, has more than 200 physical locations in Pennsylvania, Delaware, Maryland, New Jersey and Virginia. It offers personal, small business and commercial banking products and services.
- Is Fulton Bank federally insured?
- Yes, Fulton Bank is a member of the FDIC. The FDIC insures deposits for up to $250,000 for each account ownership category per depositor. This coverage applies to checking accounts, savings accounts, money market deposit accounts and certificates of deposit.
Cynthia Measom, John Csiszar and Vance Cariaga contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 20, 2023.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
To discover the Best Regional Banks, GOBankingRates looked at the top regional institutions (excluding online banks and neobanks) located in under 25 states. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage based on the minimum to avoid the fee compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple app stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighted 0.5 times; factor (5) was weighted 2.5 times; and factor (7) was weighted 1.5 times.
For regional breakdowns, the same methodology as above was used. The regions were broken down into the following: West (AK, CA, CO, HI, ID, MT, NV, OR, UT, WA, WY); Southwest (AZ, NM, OK, TX); Midwest (IA, IL, IN, KS, MI, MN, MO, ND, NE, OH, SD, WI); Southeast (AL, AR, DC, FL, GA, LA, KY, MS, NC, SC, TN, VA, WV); and Northeast (CT, DE, MA, MD, ME, NH, NJ, NY, PA, RI, VT). To be considered for a region, a bank had to have a branch in one of the states listed and be headquartered in that state/region.
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