Best Banks in Delaware
Written by
Rudri Patel
Edited by
Elizabeth Constantineau
Delaware is a small state, but mighty when in comes to commerce. Consumers in Delaware can choose from large national banks, online banks, regional banks, credit unions and smaller community banks. This guide reviews the top options for checking, savings and certificate of deposit (CD) accounts in Delaware.
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TOP DELAWARE BANKS AT A GLANCE
Bank/Institution
Savings APY
Notable Features
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Detailed Reviews of the Best Banks in Delaware
Here’s a rundown of the main features and benefits of GOBankingRates’ picks for top banks in Delaware.
Gold Winner: Wilmington Savings Fund Society
Wilmington Savings Fund Society, known familiarly as WSFS, is the oldest and largest bank headquartered in the Delaware and greater Philadelphia region. In addition to comprehensive and competitive banking products and services, WSFS has a reputation for being a good neighbor in the community.
Best For
Mobile Banking
Low Monthly Fees
Loan Options
Investment Services
Business Accounts
Relationship Accounts for Higher Interest Rates
Wilmington Savings Fund Society stands out for its relationship banking offerings, which charge no fees and have higher interest rates based on your combined deposit and loan balances. The higher your balance, the better your rate.
Total Branch Locations
Over 100
Mobile App Rating
4.7 on the Apple App Store and 4.3 on Google Play
Other Products Offered
Checking, savings, money market, CDs, credit cards, mortgages, home equity loans, personal loans, student loans, business accounts, investment and wealth management services
Pros
- Relationship banking for higher rates
- Get eligible direct deposits up to two days in advance
- No maintenance fees with qualifying direct deposits
- Supports the local community
Cons
- Money market interest rates are low for balances under $100,000
- CDs require a $2,500 minimum balance
Why We Like Wilmington Savings Fund Society
With a full range of banking products and services, and rewards for doing all your business with one bank, Wilmington Savings Fund Society is the definition of a community bank. It also keeps up with the big online and national banks with online and mobile banking, and investment and wealth management services.
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Silver Winner: Artisans Bank
Artisans Bank earns a spot among the best banks in Delaware for its combination of community-focused service and competitive deposit products. With strong APYs on checking and money market accounts, a full suite of financial services and deep local roots, it’s a solid option for Delaware residents who want modern banking with a personal touch.
Best For
Loan Options
Low Minimum Deposits
Mobile App
Low Monthly Fees
Deposit Accounts
Interest-Bearing Checking Account
Artisans Banks stands out for its Interest Rewards Checking account which pays up to APY on checking account balances up to $25,000. To qualify, you’ll need to meet a few requirements, including direct deposit, 12 signature-based card transactions per cycle, online banking enrollment and e-statements.
Total Branch Locations
13
Mobile App Rating
4.8 on the Apple App Store and 4.5 on Google Play
Other Products Offered
Checking, savings, money market, CDs, home loans, lines of credit, personal loans, credit cards, investment services
Pros
- High interest rates on checking and money market accounts
- Supports financial literacy programs in schools and in the community
- Full range of banking products and services
Cons
- Small number of branch locations
- Some deposit accounts pay low interest
Why We Like Artisans Bank
Artisans Bank offers all the products and services you would expect from a big bank with a decidedly small bank feel. The bank hasn’t strayed from its roots as a cooperative bank started by laborers in 1861, except to embrace the technology and service consumers expect today.
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Bronze Winner: Citizens Bank
Citizens Bank ranks among the best banks in Delaware thanks to its large branch network, strong mobile banking tools and perks for loyal customers.
Best For
Mobile App
No Minimum Deposit
Wealth Management
Loan Options
Credit Cards
The More You Save, the More You Earn
Citizens Bank stands out for its blend of nationwide reach in key regions and perks for loyal customers. Whether you're managing everyday banking, planning a major purchase or running a business, the bank's wide product lineup and personalized guidance make it a versatile choice for a variety of financial needs.
Total Branch Locations
More than 1,100
Mobile App Rating
4.7 on the Apple App Store and Google Play
Other Products Offered
Checking, savings, credit cards, home loans, student loans, wealth management, business accounts, investment management
Pros
- Many branch and ATM locations
- CitizensPlus loyalty program offers benefits for your checking account if you have a larger balance
- Complimentary personalized guidance from a Citizens Bank professional
Cons
- Low APYs for Citizens Bank's savings accounts
- High $25,000 minimum deposit requirement to get the highest CD rates, and they aren't the most competitive
- Branches aren't spread throughout the country
Why We Like Citizens Bank
Citizens Bank has a vast footprint in the New England, Mid-Atlantic and Midwest regions with more than 1,100 branches and 3,400 ATMs. The CitizensPlus loyalty program opens a lot of opportunities to save money, such as with mortgage discounts, home equity line of credit discounts, a credit card fee reduction, student loan discounts and personalized financial advice.
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Best Banks
Best Checking Accounts
Best Savings Accounts
CD Account Rates
Best Money Market Accounts
Research Methodology
To discover the Best Banks by state, GOBankingRates analyzed the top institutions (excluding online banks and neobanks) by state branch locations. 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 of the minimum to avoid fees 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 stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighed 0.5 times, factor (5) was weighed 2.5 times and factor (7) was weighed 1.5 times. All products and offerings had to be available as of Nov. 8, 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 Aug. 5, 2024.
To qualify as one of the Best Banks in the state, the institution needed at least five branch locations in the respective state, with some exceptions for larger and/or smaller states.
How To Choose the Right Banks in Delaware
Choosing the right bank in Delaware can be a challenge — there are so many good ones to choose from. The ones highlighted in this review are all top choices, and they each offer a comprehensive collection of products and services. They also have their differences, so before you make your choice, consider how these factors could influence your decision.
- Local or national? Some people want the biggest bank they can find. Others are looking for a bank with ties to the local community.
- Digital banking availability: Most banks today have online and mobile banking, but not all apps are created equal. Check the ratings and reviews if mobile banking is important to you.
- Branch and ATM access: Consider whether you like to go to a local branch where they know you, and how often you use an ATM.
- Fee structures and waivers: Consider whether you will meet the criteria required to waive monthly fees, or if you just want a fee-free account so you don’t have to worry about it.
- Community involvement: If supporting local initiatives matters to you, consider how actively each bank engages with the community.
Conclusion
To choose the best bank in Delaware for your needs, consider your preferences and your priorities. You may want the bank with the best interest rates, the best mobile app or the most community involvement — you can find all these things at banks in Delaware. Once you find the one that is the best fit for you, go online or into a branch and open your accounts today.
FAQs About Banking in Delaware
Here’s more information to help you find the best Delaware bank for your needs.- What is the best bank for high-yield savings in Delaware?
- If you’re open to options beyond a savings account, consider a money market account at Wilmington Savings Fund Society -- balances over $100,000 earn 3.50% APY.
- Which banks have the most ATMs in Delaware?
- It’s hard to say which banks have the most Delaware ATMs, but look for a bank that uses the Allpoint or Money Pass ATM system if you want access to tens of thousands of ATMs nationwide.
- Are there any banks in Delaware with no monthly fees?
- Yes. Wilmington Savings Fund Society, Artisans Bank and Citizens Bank all have some accounts with no fees. There are other Delaware banks with no monthly fees as well.
More Resources for Banking
Best Banks
Best Checking Accounts
Best Savings Accounts
CD Account Rates
Best Money Market Accounts
Karen Doyle contributed to the reporting for this article.
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