Fulton Bank Review: A Variety of Account Offerings from a Regional Bank

GOBankingRates Score

4.0
Quick Take: Fulton Bank offers an impressive range of accounts for a regional bank, but it doesn't offer the best annual percentage yields, and many accounts carry fees unless you meet the requirements to waive them.
  • Fees
    3.0
  • APYs
    3.0
  • Product Breadth
    5.0
  • Accessibility
    5.0
How did we calculate this?

Pros

  • Many types of accounts available
  • More than 200 branches for regional customers

Cons

  • Low APYs
  • Branches in five states only

Overview of Fulton Bank

Fulton Bank is a subsidiary of Fulton Financial Corporation, a $25 billion financial services holding company. 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. Fulton Bank was named one of the Best Regional Banks as well as one of the Top 100 Banks of 2022 in the annual GOBankingRates Best Banks rankings.

Fulton Bank Checking Accounts

Fulton Bank’s broadest array of accounts comes in its checking account lineup, with four options: Xpress, Simply Checking, Interest Checking, and Relationship Banking. All of the accounts come with online and mobile banking and online statements.

Only one comes with no monthly fee, and that is Simply Checking. Xpress has a $4.95 fee that is waived when the primary account holder is 16- to 24-years old. The $10 fee for the Interest Checking account only applies to customers younger than 50 and is waived with a $1,000 minimum daily balance. The $10 Relationship Banking fee is waived with a $2,000 minimum daily balance.

The Xpress account is online-only and doesn’t include check writing. Interest Checking and Relationship Banking both pay interest. As of Jan. 3, 2022, the APY for Interest Checking is 0.02% on all balances. The APY for Relationship Banking is 0.02% for balances up to $9,999.00 and 0.03% for all balances a above that.

Fulton Bank Savings Account

Fulton Bank has a single savings account, called Statement Savings. This account charges a $6 monthly maintenance fee that can be waived a $100 minimum daily balance. There’s no minimum deposit required to open the account at a branch, but there is a $25 minimum opening balance if you open it online.

The APY for the Statement Savings account is 0.02%, which is a bit lower than you’ll find at many other banks, including those that offer high-yield savings options.

Fulton Bank Money Market Accounts

Fulton Bank offers two different types of money market accounts: Money Market and Platinum Money Market.

The Money Market account has a $10 monthly maintenance fee that can waived with a $1,000 minimum daily balance. You also need to carry a $1,000 minimum balance to earn interest. This account has a 0.05% APY on all balances above $1,000.

Platinum Money Market has a $25 fee that can be waived with a minimum daily balance of $10,000. Also, interest is only paid if you maintain a minimum daily balance of at least $10,000. This account offers tiered interest rates ranging from 0.06% to 0.10% APY. To earn the highest rates, you need a balance of more than $99,999.00.

Fulton Bank CD Accounts

Fulton Bank offers offer both traditional CDs and Individual Retirement Account CDs, both with a minimum opening balance of $1,000. Terms range from three months to six years, with APYs ranging from 0.05% to 0.15%. The highest rates are reserved for CD terms of four years and longer.

For customers who want a bigger return on their money, Fulton Bank also offers a 13-month CD with Relationship Banking that pays an APY of 0.20%.

Best Features of Fulton Bank

Here’s some more details on how Fulton Bank earned its scores in GOBankingRates annual rankings.

Fees

Fulton Bank doesn’t offer a lot of fee-free accounts, and the accounts that let you waive the fees have some pretty high minimum balance requirements. If you’re looking for a no-fee banking experience, you’re probably better off elsewhere.

APYs

To its credit, Fulton Bank does offer interest checking, but the highest APY is only 0.03%, and you need a large balance to get it. The savings account APY is only 0.02% regardless of the balance. The APYs on Money Market accounts and CDs are higher, but still not as high as you’ll find at many other banks.

Product Breadth

One of Fulton Bank’s main strengths is the range of products it offers, including checking, savings and money market accounts, CDs, IRAs, investment options and loans.

Accessibility

Fulton Bank has more than 200 branches in is five-state service area, so most customers in those states should have no problem accessing one. Automated account information is available 24/7, 365 days a year, through its website and mobile app. Customer service reps are available six days a week: Monday through Friday from 7 a.m to 8 p.m EST and Saturday from 8 a.m. to 3 p.m. EST.

Editor’s Favorite

Fulton Bank provides customers with access to all necessary basic banking accounts and services, making it a one-stop shop for customers in its service area.

Fulton Bank vs. Competitors

Bank Best For
Fulton Bank Regional customers needing branch assistance in Delaware, Maryland, New Jersey, Virginia and Pennsylvania
Chase Bank Credit card lineup, national branch access
Citizens Bank 24/7 customer service
Wells Fargo Rewards program

Fulton Bank vs. Chase Bank

Chase Bank has a decided edge over Fulton Bank when it comes to branches and service area, with more than 4,700 branches located nationwide. Fulton Bank has the edge on rates. Although Fulton Bank’s APYs are low, they still exceed most APYs at Chase Bank, particularly when it comes to CDs.

Fulton Bank vs. Citizens Bank

Citizens Bank offers 24/7 customer service, whereas Fulton Bank has more limited hours. However, Fulton Bank operates in Virginia and Maryland and Citizens Bank does not, making Fulton a more convenient option for customers in those areas.

Fulton Bank vs. Wells Fargo

Wells Fargo has an extensive rewards program, something that isn’t offered at Fulton Bank. Wells Fargo also has a much broader reach than Fulton, with branches in the vast majority of U.S. states. But Fulton Bank has much higher CD rates than Wells Fargo.

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 offers a wide range of account types and excellent online and mobile access. 

Fulton Bank FAQ

Here are the answers to some of the most frequently asked questions about Fulton Bank.
  • Is Fulton Bank FDIC insured?
    • Yes, all deposits are insured by the FDIC for up to $250,000 per depositor, for each account ownership category. Additionally, IRAs are separately insured for an additional $250,000 per depositor.
  • Does Fulton use Zelle?
    • Yes, Fulton Bank lets you send, request and receive money with Zelle.
  • Where is Fulton Bank’s headquarters?
    • Fulton Bank is based in Lancaster, Pennsylvania.
  • How long does it take for a check to clear Fulton Bank?
    • Cash deposits, electronic deposits and the first $100 deposited via check are typically available the same business day that they are deposited.
  • Does Fulton Bank have mobile deposit?
    • Yes, Fulton Bank offers mobile deposit through its app, available for your iPhone, Android or iPad tablet.

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 Apr. 26, 2022.

Editorial Note: This content is not provided by Fulton Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Fulton Bank.

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About the Author

After earning a B.A. in English with a Specialization in Business from UCLA, John Csiszar worked in the financial services industry as a registered representative for 18 years. Along the way, Csiszar earned both Certified Financial Planner and Registered Investment Adviser designations, in addition to being licensed as a life agent, while working for both a major Wall Street wirehouse and for his own investment advisory firm. During his time as an advisor, Csiszar managed over $100 million in client assets while providing individualized investment plans for hundreds of clients.

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