Wilmington Savings Fund Society Review
Written by
Rudri Patel
Edited by
Nupur Gambhir
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Wilmington Savings Fund Society (WSFS) is a community-focused bank offering checking and savings accounts, loans, and wealth management — all with personalized service and local expertise.
Wilmington Savings Fund Society (WSFS) has 88 branches, primarily in Pennsylvania, Delaware, and New Jersey. WSFS offers several financial products, including checking, savings, and money market accounts, CDs, personal, auto, student loans, and mortgages. Wilmington Savings Fund Society has earned GOBankingRates’ award for best bank in Delaware.
WSFS Checking Account
WSFS offers three checking accounts: Everyday Banking, Campus Banking, and Relationship Checking. Checking accounts offer low opening deposit requirements, and you can be refunded for out-of-network ATM fees. Relationship checking offers interest of 0.01 to 0.02 %, depending on the account balance
- Low opening depositÂ
- High monthly fees (but easy to waive these fees)
- FDIC insured
- Early access to direct depositsÂ
- Limited geographic presence
Best For
Mobile App
Banking in Delaware
Low Monthly Fees
Loan Options
Investment Services
No Monthly Fees
Wilmington Bank is a regional bank offering personalized service and competitive rates on checking, savings, loans, and mortgages. With strong community ties and a user-friendly online platform, it combines local trust with modern convenience.
Fees
No monthly service fee
APY
Min Opening
$0
Pros
- Versatile checking account options for everyday checking and college students
- Access to accounts via branches, online, mobile and ATMs
- $100 opening deposit for Everyday Checking
- No minimum balance for Campus Banking if between the ages of 16 and 24
Cons
- Limited geographic locationsÂ
- Have to maintain $500 balance or set up direct deposit for fee waiver for Everyday Checking
Quick Take
WSFS offers three checking accounts, a low minimum deposit, and waivable monthly fees. However, the locations are limited if you prefer to bank in person
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WSFSÂ Savings Accounts
WSFS offers a Core Savings account that requires a minimum opening deposit of $100. The minimum daily balance is $500 but it is waived for the first three months to give you a chance to build your balance.
- The minimum opening deposit is $100
- FDIC insured
- $5 monthly fee (but can be waived by maintaining a $500 daily balance per statement period or one auto transfer of $25 from your checking to your savings account)
- Minimum and opening deposit waived if you are under 18
- APY is 0.20%
Best For
Mobile App
Banking in Delaware
Low Monthly Fees
Loan Options
Investment Services
Grow Your Savings with Wilmington Bank
Wilmington Bank’s savings accounts offer competitive interest rates and flexible options, making them a smart choice for building savings. With strong community ties and an easy-to-use online platform, they provide both personal service and modern convenience.
Fees
$5
APY
Min Opening
$100
Pros
- Low opening depositÂ
- Encourages saving for those under 18 because of waiver of monthly fee/minimum deposit
- FDIC insured
Cons
- Relatively low APY
- Required minimum deposit
- Limited geographic location for in-person banking
Quick Take
The WSFS Core Savings account is a great fit for young people wanting to save early, but for established customers, the APY and high daily balance requirement may push them toward competitors
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WSFS CD Accounts
CD term options range from three months to 84 months. WSFS offers fixed-rate CDs with a $2,500 minimum opening deposit.Â
- Variety of CD terms
- APYs range from 0.75% to 4.10%
- FDIC insured
- Fixed-rate of returnÂ
Best For
Mobile App
Banking in Delaware
Low Monthly Fees
Loan Options
Investment Services
Secure High Returns with Wilmington Bank CDs
Wilmington Bank’s savings accounts offer competitive interest rates and flexible options, making them a smart choice for building savings. With strong community ties and an easy-to-use online platform, they provide both personal service and modern convenience.
Fees
$5
APY
Up to
Min Opening
$100
Pros
- Guaranteed return with a fixed-rate CD
- CD terms have a large range (three to 84-months)
- FDIC insured
Cons
- Minimum of $2,500 opening depositÂ
- Early withdrawal penaltiesÂ
- Interest rate variability may not allow you to take advantage of higher interest rate CD
Quick Take
Quick Take: WSFS offers a large range of CD terms, but the fixed rate and the $2500 minimum deposit may push customers to consider a competitor’s options.
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WSFS Money Market Accounts
WSFS offers one money market account, and your interest rate is determined based on your account balance. The minimum deposit is $100, and you must keep a $5,000 statement balance to waive the monthly fee of $12.Â
Best For
Mobile App
Banking in Delaware
Low Monthly Fees
Loan Options
Investment Services
Secure High Returns with Wilmington Bank CDs
Wilmington Bank’s savings accounts offer competitive interest rates and flexible options, making them a smart choice for building savings. With strong community ties and an easy-to-use online platform, they provide both personal service and modern convenience.
Fees
$5
APY
Min Opening
$100
Pros
- Guaranteed return with a fixed-rate CD
- CD terms have a large range (three to 84-months)
- FDIC insured
Cons
- Minimum of $2,500 opening depositÂ
- Early withdrawal penaltiesÂ
- Interest rate variability may not allow you to take advantage of higher interest rate CD
Quick Take
Quick Take: WSFS offers a large range of CD terms, but the fixed rate and the $2500 minimum deposit may push customers to consider a competitor’s options.
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WSFS: Banking Experience
WSFS offers a regional-focused banking environment with over 88 branches located primarily in Pennsylvania, Delaware, and New Jersey. Customers can choose to ask their questions about financial products in person in these regions. WSFS also has mobile access, either online or through the app, to answer questions about financial products.Â
WSFS has a 4.0 Google ranking and a 4.8 Apple ranking. Its online banking and mobile app provide 24/7 access to all your accounts. You can view your accounts, conduct transfers, and manage bill pay.Â
Customer Service
WSFS customer service (1-888-973-7226) representatives are available Monday through Friday from 7 a.m. to 7 p.m. ET and Saturday and Sundays 9 a.m. to 3 p.m. Customers can access WSFS Online and Mobile Banking 24/7.
Comparable WSFS Options
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly service fee
$5 a month for inactivity
$3 external funds transfer
APY
APY
APY
Up to
Min Opening
Min Opening
Min Opening
$0
$100
$10
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$5
$5 a month for inactivity
$5 waivable monthly service fee
APY
APY
APY
Up to
Min Opening
Min Opening
Min Opening
$100
$100
$250
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$5
Early withdrawal penalties will apply
Early withdrawal penalties may apply
APY
APY
APY
Up to
Up to
Up to
Min Opening
Min Opening
Min Opening
$100
$500
$1,000
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$5
Waivable $10 monthly service fee
$5 waivable monthly service fee
APY
APY
APY
Up to
Min Opening
Min Opening
Min Opening
$100
$2,500
$25,000
WSFS vs. Ally Bank
WSFS appeals to individuals who prefer in-person interactions, while Ally is a completely online bank. Ally has an edge over WSFS because it offers a higher rate on savings accounts.
WSFS vs. Wells Fargo
Wells Fargo has a nationwide reach and in-person branches across the country. WSFS is primarily located in three states, so if you prefer accessibility, Wells Fargo is the better option. WSFS will provide more of a regional touch and personalized service.
WSFS vs. Discover Bank
Discover® Bank, Member FDIC operates online and offers a high-yield savings account with an APY of , edging out WSFS. However, Discover Bank has no physical branches, while WSFS has brick-and-mortar banks in Pennsylvania, Delaware, and New Jersey. If you don’t need in-person transactions and want a higher rate on your savings account, Discover Bank is the better option.
Final TakeÂ
WSFS provides well-rounded financial products, including checking, savings, money market, and CDs, as well as auto and student loans. WSFS is accessible online and has a geographic presence in three states. If you’re looking for a bank with a personalized regional touch and robust financial products, WSFS meets that mark.
FAQ
Although the basic idea behind a checking account can be simple to understand, there are still many common questions surrounding them, in part because there are so many different kinds. Here are the answers to some of the most frequently asked questions regarding checking accounts.- What are the CD Rates at WSFS Bank?
- CD rates vary depending on the term you choose at WSFS Bank. They range between 0.75% and 4.10%.Â
- What is the minimum balance for a WSFS savings account?
- The minimum opening deposit for a Core Savings Account is $100 (although this deposit is waived if you’re under 18). The minimum daily balance is $500 per statement period if you want to avoid monthly fees. Â
- How much can you deposit on WSFS snapshot?
- The snapshot is a WSFS mobile deposit feature that allows customers to deposit checks using their cell phones. The amount you can deposit via your mobile phone may be limited.Â
- Does WSFS offer mobile banking?
- Yes, WSFS has mobile banking through an app or WSFS Online.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 11, 2024.Â
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 determine rankings for the Best CD Accounts of 2025, GOBankingRates considered the following factors (excluding neobanks): (1) total assets as sourced from the FDIC; (2) number of branch locations as sourced from the FDIC; (3) minimum deposit to open an account; (4) 12-month CD APY rate; (5) 60-month CD APY rate, and (6) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (2) were weighed 0.5 times, factor (3) was weighed 2 times, and factors (4) and (5) were weighed 4 times. All products and offerings had to be available as of Nov. 1, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 11, 2024.
To determine the Best Money Market Accounts of 2025, GOBankingRates analyzed the following factors from all banks (excluding neobanks): (1) total assets as sourced from the FDIC; (2) number of branch locations as sourced from the FDIC; (3) minimum deposit to open an account; (4) APY on the money market account; (5) the minimum balance needed to earn the APY; (6) monthly money market fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); and (7) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (2) were weighed 0.5 times, and factor (4) was weighed 4 times. All products and offerings had to be available as of Nov. 1, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 11, 2024.
