Fulton Bank Review: Diversified Product Line for One-Stop Banking

4.3
Our Take: Fulton Bank offers an impressive range of accounts, but low APYs and requirements to avoid fees with many accounts mean the bank has areas in which to improve.
  • Fees
    4.0
  • APYs
    4.0
  • Product Breadth
    5.0
  • Account Minimums
    4.0
How did we calculate this?

Pros

  • Many types of accounts available
  • Over 200 branches for regional customers

Cons

  • Low APYs
  • Branches in five states only

About Fulton Bank

Fulton Bank is a subsidiary of Fulton Financial Corporation, which has over $24 billion in assets. Fulton Bank serves customers in Pennsylvania, Delaware, Maryland, Virginia and New Jersey. The bank offers personal banking accounts, from checking and savings to 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 in GOBankingRates Best Banks 2021 rankings.

Fulton Bank Products

One of Fulton Bank’s main strengths is in the range of products that it offers. 

Product Key Details
Savings Account
  • $100 minimum to avoid monthly fee
Money Market Accounts
  • Regular and Platinum accounts
  • Tiered interest rates
  • No monthly fee
  • IRA money market available
CD Rates
  • Four CD options to choose from, plus a Promotional Certificate
  • Wide range of maturity dates
  • Flexible-Rate, Step-Up, Variable-Rate and No-Penalty CDs available
Checking Accounts
  • Five types of checking accounts available
  • Three interest-bearing accounts
  • Three accounts with no fees
  • Two accounts with waivable fees based on daily balance
IRAs
  • Traditional, Roth and spousal IRAs available; IRA money market account available
Investment Options
  • Full-service financial advisors available
Loans
  • Home, auto, personal, student and unsecured loans in addition to credit cards 
Sponsors of

Fulton Bank Savings Account

Fulton Bank has a single savings account. The account charges a $6 monthly fee, but that can be avoided with just a $100 minimum balance. The account earns interest, but at a low 0.02% APY.

Features

  • $6 monthly maintenance fee
  • $100 minimum to avoid monthly fee
  • No minimums or monthly fees with Student Savings account
  • 0.02% APY on both savings accounts
  • No monthly fee for account holders under age 19 

Pros

  • Low $100 minimum balance to waive monthly maintenance fee
  • Interest-bearing account 

Cons

  • Very low 0.02% APY

Fulton Bank Money Market Account

Fulton Bank customers can avail of two different types of money market accounts: the Platinum Money Market and the Money Market account.

Features 

  • $10 monthly maintenance fee with the Money Market account, with a $1,000 minimum balance required to avoid it or to earn interest
  • $25 monthly maintenance fee with the Platinum Money Market, with a $10,000 minimum daily balance required to avoid the fee or to earn interest
  • Flat 0.05% APY with the Money Market account
  • Tiered interest with the Platinum Money Market, from 0.05% APY to 0.17% APY

Pros

  • Two money market options
  • Tiered interest rates
  • Higher rates with the Platinum Money Market
Sponsors of

Cons

  • Very high monthly fees 
  • High minimum balances
  • Low APYs 

Fulton Bank CD Account

Fulton Bank offers four CD products: Fixed Rate, No Penalty, Bump Up and Variable Rate.

Features

  • Fixed-Rate CD terms from three months to six years
  • No-Penalty CD with nine-month term
  • Bump-Up CD with 36-month term
  • Variable-Rate CD with 12-month term
  • No-Penalty CD with no early-withdrawal penalty starting seven days after deposit
  • APYs ranging from 0.05% to 0.20%
  • 0.30% APY on 13-month Promotional Certificate with Relationship Banking

Pros

  • Multiple CD types

Cons

  • Low APYs across the board

Fulton Bank Checking Accounts

Fulton Bank’s broadest array of accounts comes in its checking account lineup, which has no fewer than five options: Student Checking (for ages 16-22), Simply Checking, Interest Checking, Prime Life Interest Checking (for ages 50+) and Relationship Banking.

Features

  • Student Checking, Simply Checking and Prime Life Interest Checking have no monthly fees or minimum balance requirements.
  • Interest Checking has a $10 monthly fee, waivable with a monthly ACH deposit or a $1,000 minimum balance.
  • Relationship Banking has a $10 monthly fee, waivable with a $2,000 minimum balance.
  • Interest Checking, Prime Life Interest Checking and Relationship Banking earn interest.
  • Interest Checking currently offers a 0.01% APY.
  • Prime Life Interest Checking currently offers a 0.02% APY .
  • Relationship Banking APYs currently range between 0.02% and 0.03%.
  • All accounts have access to online and mobile banking and online statements.
Sponsors of

Pros

  • Broad array of checking accounts
  • No monthly fees for three accounts
  • Waivable fees on two accounts with minimum balances
  • Three interest-bearing accounts 

Cons

  • Low rates on the three interest-bearing checking accounts

Banking Experience

Although Fulton Bank has been around for over 100 years, it still only serves five states. However, it offers a wide range of account types and excellent online and mobile access. 

Physical Branch Locations

Fulton Bank has over 220 locations sprinkled across five states: Delaware, Maryland, New Jersey, Virginia and Pennsylvania.

Mobile & Digital Experience

Fulton Bank shines when it comes to its digital and mobile experiences. The bank’s app receives 4.6 stars from users on the Google Play store and 4.8 stars from users on the App Store by Apple.

Features available on the mobile apps include:

  • Access to account balances
  • Funds transfer
  • ATM/branch locator
  • Mobile deposit

Mobile deposits are limited to a $1,000 daily limit and a $2,500 monthly limit within 90 days of account opening. Deposit limits jump to $2,500 daily and $5,000 monthly after 90 days of account opening.

With both online and mobile banking, customers can view additional items such as historical statements, cost basis information and tax-reporting documents.

Sponsors of

How To Open an Account

You can open an account at Fulton Bank online or at a branch. You’ll need a few items to get started, including the following:

  • Social Security number
  • Government ID, such as your driver’s license, passport or state or military ID
  • A $25 minimum opening deposit, funded with a checking or savings account or a debit or credit card

Customer Service

You can reach Fulton Bank customer service at 800-FULTON4, or 800-385-8664. Hours are Monday through Friday, 7 a.m. to 8 p.m. EST, and Saturdays from 8 a.m. to 3 p.m. EST.

Key Information:

Customer Service: 800-FULTON4, or 800-385-8664

Routing Number: 031301422

Fulton Bank Fees

Fulton Bank has some fee-free accounts, but with others, particularly the bank’s money market accounts, you’ll need a relatively high minimum balance to avoid a high monthly maintenance fee. 

Here’s a look at some of the other prominent Fulton Bank fees:

Many of these fees can be avoided if customers don’t use these services or neglect the balances in their banking accounts. In that case, fees at Fulton Bank are reasonably low, as there are no monthly fees on its basic banking accounts.

Sponsors of

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 over 4,700 branches located nationwide. Fulton Bank has the edge on rates. Although Fulton Bank’s APYs are low, its rates 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. The bank 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 does.

Sponsors of

Final Take

Fulton Bank offers a wide range of accounts to its customers, from basic banking accounts to more advanced options such as home mortgages and personal loans. Although some of its accounts are free, many have high balance requirements to avoid what would otherwise be very high monthly maintenance fees. For example, the bank requires a $25,000 minimum balance to avoid the $25 fee on its Platinum Money Market account.

Fees are equally onerous when it comes to service and transaction costs. If you aren’t paying attention and overdraw your account, you’ll face a $39 NSF fee. If you want to use an ATM out of Fulton Bank’s network, you’ll pay a $2.50 fee per transaction. And if you’re looking to send — or receive — even a domestic wire transfer, you’ll trigger a $30 or $15 fee, respectively.

To counter these fees, one would hope for high APYs from Fulton Bank’s account lineup, but unfortunately, APYs are low across the board, although its CD rates do top some of those offered by major banks.

Editor’s Favorite

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

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.
  • How many Fulton banks are there?
    • Fulton Bank offers over 220 branches and more than 300 ATMs across its five-state service area.
  • Does Fulton use Zelle?
    • Yes, Fulton Bank uses Zelle.
  • Where is Fulton Bank’s headquarters?
    • Fulton Bank is based out of 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. Funds deposited by check are generally available within one business day after deposit at Fulton Bank. In a case where clearance takes two or more business days, the first $225 of a deposit is typically available on the first business day after deposit.
  • Does Fulton Bank have mobile deposit?
    • Yes, Fulton Bank offers mobile deposit via both its Android and iOS apps.
  • Does Fulton Bank offer free money for signing up for an account?
    • Fulton Bank doesn’t currently offer any new account sign-up bonuses. However, it does offer a rewards program with its Relationship Rewards Visa debit card that provides points you can redeem for gift certificates, gift cards, eGift cards or eGift codes. The bank also periodically offers special Relationship Banking bonuses on its CDs for customers with at least $15,000 on deposit.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of 12/11/2020.

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.

Fulton Bank Review: Diversified Product Line for One-Stop Banking
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