Fulton Bank Review: Checking, Savings, CD, Money Market and IRA Accounts

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Updated on Sunday, November 1, 2020

Fulton Bank checking account options

Student checking

This account offers a bunch of free perks, including ATM refunds.
  • Minimum opening deposit: $25 if opened online, none at a branch
  • Monthly account maintenance fee: None
  • ATM fee: $2.50
  • ATM fee refund: Up to 5 per month
  • Overdraft fee: $39 per item

This is one of the few youth accounts that you can open online, though it’s only available to residents in Pennsylvania, New Jersey, Maryland, Delaware and Virginia, aged 16-22.

While it’s unfortunate that this isn’t an interest-bearing account, you do get a bunch of nifty features. There are no monthly maintenance fees, free online bill pay and online and mobile banking. You also get up to five ATM refunds each month and a Relationship Rewards Visa debit card. This card gives you the opportunity to earn rewards to redeem for gift cards or cash back. However, those under 18 will need an adult cosigner to get this account.

How to get the Student Checking account

Head over to Fulton Bank’s online application page and enter in your state of residence and ZIP code to see if you can qualify to open an account. Then you’ll need to prepare personal identifying information such as your address, government-issued ID and Social Security number. You can then fund your account using an external checking account, savings account, a debit card or a credit card.

You can also head to your local branch or call customer service at 1-800-385-8664 to open an account.

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Simply Checking

You don’t need to pay any monthly fees, but you’re not earning any interest either.
  • Minimum opening deposit: None
  • Monthly account maintenance fee: None
  • ATM fee: $2.50 for out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: $39 per item

Fulton Bank claims this is their most popular checking account; perhaps that’s because there are no monthly maintenance fees or minimum balances. You can also link this account to a savings account for overdraft protection. Account holders also get access to online and mobile banking, electronic statements and a Relationship Rewards Visa Debit card. This card helps you earn points for your everyday purchases which then you can redeem for gift cards or cash back.

However, the main shortcoming of this account is that you don’t earn any interest.

How to get the Simply Checking account

First you’ll need to go to Fulton Bank’s online application page and enter in your ZIP code to see if you’re able to open an account. You’ll then proceed to entering your personal details such as your name, address, government-issued ID and Social Security number. Then you can fund your account.

Otherwise, you can call customer service at 1-800-385-8664 or go to your local branch.

SEE DETAILS Secured

on Fulton Bank, National Association’s secure website

Interest Checking

Despite the name, you’re earning a pittance considering the high minimum balance to get the APY.
APYMinimum Balance to Earn APY
0.01%$1,000
  • Minimum opening deposit: $25 if opening online, none if opening an account in person
  • Monthly account maintenance fee: $10 (this can be waived)
  • ATM fee: $2.50 for out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: $39 per item

Sure, you earn some interest with this account, but it’s such a small amount you’re practically earning nothing. However, there are some convenient features offered with this account, though it’s pretty much the same as the Simply Checking account. You get bill pay, e-statements and online and mobile banking. You also get a free Relationship Rewards Visa Debit card, which gives you the ability to earn points from purchases toward gift cards or cash back.

To waive the monthly maintenance fee, you’ll need to maintain at least $1,000 in your account. Otherwise, you’re paying a pretty hefty monthly maintenance fee.

How to get the Interest Checking account

You can complete an online application form. First, you’ll need to enter in your ZIP code to see if you qualify to open an account. Afterward, you’ll need to provide personal details such as your name, government-issued ID and Social Security number. You can then fund your account using an external account, a debit card or a credit card.

Alternatively you can head to your local branch or call customer service at 1-800-385-8664.

SEE DETAILS Secured

on Fulton Bank, National Association’s secure website

Member FDIC

Prime Life Interest Checking

Get some nifty perks like no ATM fees if you’re 50 and older.
APYMinimum Balance to Earn APY
0.02%$1,000
0.02%$4,999.01
0.02%$9,999.01
  • Minimum opening deposit: None if you open an account in person, $25 if opening an account online
  • Monthly account maintenance fee: None
  • ATM fee: None
  • ATM fee refund: None
  • Overdraft fee: $39 per item

This checking account is for those 50 years and older and comes with better features than the regular Interest Checking account. Although the yield you earn is pennies, you won’t need to pay any ATM charges (though there may be fees from other banks) or monthly maintenance fees. You also get free online and mobile banking and a Relationship Rewards Visa Debit card for points to redeem for gift cards or get cash back.

Account holders also get additional discounts on fees for a safe discount box AND 50% off personal check orders or specialty checks, up to $35.

How to get the Prime Life Interest Checking account

To open an account, head over to Fulton Bank’s website and fill out an online application form. First, you’ll need to indicate your location as only certain residents have the ability to open an account. You’ll also need to enter your personal details such as your name, address, government issued ID and Social Security number. Afterward, fund your account using either an external account, a debit CARD or credit card.

Alternatively, you can open an account at your local branch or by calling customer service at 1-800-385-8664.

SEE DETAILS Secured

on Fulton Bank, National Association’s secure website

Member FDIC

Relationship Banking

This doesn’t make for a meaningful relationship as you’re earning pretty terrible rates and need a high minimum balance to avoid fees.
APYMinimum Balance to Earn APY
0.02%$1,000
0.02%$4,999.01
0.03%$9,999.01
0.03%$24,000.01
  • Minimum opening deposit: $0 if opened at a branch, $25 if opened online
  • Monthly account maintenance fee: $10 (this can be waived)
  • ATM fee: None
  • ATM fee refund: None
  • Overdraft fee: $39 per item

Perhaps the best features of this account are the occasional bonus offers on CDs, no ATM fees and one free order of checks. Otherwise, the rates aren’t great and there is a minimum balance to earn the stated APY. What’s more, to qualify for the special relationship banking benefits, you need to keep a minimum of $15,000 across your deposit accounts, or $20,000 across your deposit and loan balances.

Other than that, you get a free Relationship Rewards Visa debit card, online bill pay and mobile and online banking. To waive the monthly maintenance fee, you’ll need to keep a $2,000 minimum balance in your account.

How to get the Relationship Banking account

Filling out an online application can take as little as 15 minutes from start to finish. Before filling in your personal details, you’ll need to indicate your location by entering in your ZIP code, then enter information such as your name, address, government-issued ID or Social Security number. Then you can fund the account.

SEE DETAILS Secured

on Fulton Bank, National Association’s secure website

Member FDIC

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How Fulton Bank’s checking accounts compare

In addition to the fact that their products aren’t available nationwide, Fulton Bank’s rates are extremely low. Other banks and credit unions offer much higher rates, many without fees. Banks on our list of the 10 best online checking accounts even offer unlimited ATM refunds and free checks. Bottom line: You’ll find better checking accounts elsewhere.

Fulton Bank savings account options

Statement Savings

This account earns a low rate, just like their checking accounts.
APYMinimum Balance to Earn APY
0.02%None
  • Minimum opening deposit: $25 when opening online, $0 at a local branch
  • Minimum balance to earn APY: None
  • Monthly account maintenance fee: $6 (this can be waived)
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

This account features a low minimum opening deposit, or none at all if you open one in person. It also only requires a $100 minimum daily balance. Statement Savings could be good for young adult savers, as the fee is also waived if you’re under 19 years old.

Other than that, it’s a pretty basic savings account. While there’s no ATM access, you do get online and mobile banking. You can also link this account to your Fulton Bank checking account for overdraft protection, though keep in mind that because of federal regulation, you’re allowed up to six certain withdrawals/transfers a month or else the bank will charge you a $12 for each excess transaction above that mandated limit.

How to get the Statement Savings account

Filling out an online application can take as little as 15 minutes from start to finish. Before filling in your personal details, you’ll need to indicate your location by entering in your ZIP code, then enter information such as your name, address, government-issued ID or Social Security number. Then you can fund the account.

SEE DETAILS Secured

on Fulton Bank, National Association’s secure website

Member FDIC

Student Savings

This might be a good account if you want to link your Student Checking account for overdraft protection.
APYMinimum Balance to Earn APY
0.02%None
  • Minimum opening deposit: $0 if opening an account at a branch, $25 if opening an account online
  • Minimum balance to earn APY: None
  • Monthly account maintenance fee: None
  • ATM fee: $2.50 for out of network ATMs
  • ATM fee refund: Up to 5 per month
  • Overdraft fee: N/A

Anyone under the age of 22 can open this account to help them start on their savings journey, though the rates aren’t great. You can link this to a Fulton Bank checking account if you want overdraft protection. Keep in mind that if you’re under 18 years old, an adult needs to cosign in order for you to receive an ATM card.

Other features include online and mobile banking and up to five ATM refunds a month, which is a pretty nice bonus. Since Regulation D allows you up to six certain withdrawals/transfers per month, you could be paying a $12 excess activity fee from the bank if you make more than six transactions.

How to get the Student Savings account

You can open an account in as little as 15 minutes by going through the online application process. Head over to Fulton Bank’s website and first enter in your ZIP code to see if you’re eligible to open an account. If you are, then you’ll need to fill in the application form which will ask for details such as your name, government-issued ID and Social Security number. Then you can fund your account either via an external account, a debit card or credit card.

Otherwise, you can call customer service at 1-800-385-8664 or head to your local branch to open an account.

SEE DETAILS Secured

on Fulton Bank, National Association’s secure website

Member FDIC

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How Fulton Bank’s savings accounts compare

The rates offered on Fulton Bank savings accounts aren’t great. Sure, you can get the monthly maintenance fee waived and there’s a low opening deposit amount, but that isn’t enough to convince us this account is worth opening. Instead, we suggest you continue your research by looking at our list of the best online savings accounts.

Fulton Bank’s CD rates

Certificates of deposit

The bank’s promo rates are worth looking into.
TermAPY
3 months0.05%
6 months0.05%
9 months (promo rate)2.25%
12 months (variable rate)0.05%
13 months (promo rate)2.25%
15 months0.10%
18 months0.10%
24 months0.10%
25 months (promo rate)0.85%
30 months0.10%
36 months0.10%
48 months0.20%
60 months0.20%
72 months0.20%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: 6 months’ interest

These CDs are fixed rate and best for those who have at least $1,000 available to put into an account with a guaranteed rate of return. The promo rates you see above are valid until the end of October and only apply to new money deposited, meaning it’s not money that’s currently in another Fulton Bank deposit account.

There is the option of a variable rate account, which is only available for a 12-month term. If you have the Relationship Banking checking account, you could qualify for additional rate benefits, though you’ll need to contact the bank directly to find out what they are.

Interest you earn is compounded and credited every month. You have the option of keeping interest earned in the CD or withdrawn to another account. When your account matures, you have a 10-day grace period to make any changes to the CD or else it’ll be automatically be renewed.

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No Penalty CD

The low rate doesn’t seem like it’s worth the hassle of opening an account.
TermAPY
9 months 0.05%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: None (exceptions apply)

It does sound nice that you can withdraw funds anytime without a penalty, but this account isn’t without its drawbacks. First, the rate is extremely low. If you don’t intend on using the funds within nine months, you’re either better off going with the fixed-rate CD or putting it in a high-interest savings account.

Although you can take your money out at any time, the funds need to be in your account for a minimum of seven days before you can make a withdrawal. Otherwise, you may need to pay an early withdrawal penalty, so you need to contact the bank directly to find out what that is.

Just like the fixed-rate CD, interest is compounded and credited monthly. Upon maturity, you have a 10-day grace period to make changes or else Fulton Bank will automatically renew your account.

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Bump Up CD

This CD offers one of the most competitive rates we’ve seen; unfortunately, it’s not available nationwide.
TermAPY
36 months0.75%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: 6 months’ interest

This CD is a promotional rate and a good one, too. If you’re looking for a long-term CD this is a great choice as it offers a competitive rate and the opportunity to increase your rate. How it works is that whenever the advertised rate goes up for a fixed-rate CD for the 36 month term (or as close to it without exceeding 36 months), you’ll need to call the bank to request the rate increase. This can only be done once during your CD term.

Interest earned is compounded and credited every month. You can only open a certificate with funds that aren’t currently in other Fulton Bank accounts, or so-called new money. When your account matures, you have a 10-day grace period to make any chances or else it’ll be renewed automatically.

How to get Fulton Bank’s CDs

You can only open a CD at your local branch. Click here to find one closest to you.

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How Fulton Bank’s CD rates compare

The good news is that Fulton Bank offers some of the highest rates out there, so you can’t go wrong with opening a CD, especially the promo rates. The bad news is that these CDs aren’t available nationwide, so you’re out of luck if you don’t live near a brick-and-mortar location.

In that case, you’ll want to look at our list of the best CD rates to shop around.

Fulton Bank money market account options

Money Market

Sure, it’s a much higher rate than the savings account, but there are even better ones out there.
APYMinimum Balance to Earn APY
0.05% $1,000
  • Minimum opening deposit: $25 if opening an account online, $0 if opening an account in person
  • Minimum balance to earn APY: $1,000
  • Monthly account maintenance fee: $10 (this can be waived)
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

Although the Money Market Account does offer a rate higher than Fulton Bank’s savings accounts, it also comes with a slightly higher monthly maintenance fee. However, you can get it waived if you keep a minimum daily balance of $1,000 in the account. The account also comes with online and mobile banking, though no ATM access.

Since this is considered a savings account, Federal Reserve Regulation D allows you up to six certain withdrawals/transfers a month, or else you’ll need to pay an $12 excess activity fee from the bank for each one over the allotted amount.

How to get Fulton Bank’s Money Market account

Opening an account can take as little as 15 minutes. Go to the bank’s website and enter your ZIP code then fill out an application for if you’re eligible to open an account. You’ll need to fill in personal details such as your name, address and Social Security number. Then fund your account either with an external account, a debit card or credit card.

Otherwise, you can call customer service at 1-800-385-8664, or head to your local branch to open an account.

SEE DETAILS Secured

on Fulton Bank, National Association’s secure website

Member FDIC

Platinum Money Market

This tiered account is a step up as far as rates go, but you need a high minimum balance to earn advertised APY.
APYMinimum Balance to Earn APY
0.07%$10,000
0.10%$24,999.01
0.11%$49,999.01
0.12%$74,999,01
0.17%$99,999.01
0.17%$249,999.01
0.17%$999,999.01
0.17%$1,999,999.01
  • Minimum opening deposit: $25 when opening online, $0 when opening in person
  • Minimum balance to earn APY: $10,000
  • Monthly account maintenance fee: $25 (can be waived)
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

This account is best for those who have a lot of cash and want to maximize their rates, for example, someone sitting on money in between investments. The monthly account maintenance fee is pretty steep and you need to keep a high minimum daily balance — $10,000 to be exact — in order to waive the fee.

Other than free online and mobile banking, there aren’t other other features like ATM access or check-writing capabilities. Also, you’re allowed up to six certain withdrawals/transfers a month because of Regulation D. Otherwise, you’ll pay a $12 excess activity fee from the bank for each transaction you make over the threshold.

How to get the Platinum Money Market account

You can open an account in as little as 15 minutes by doing so online. First, head to the bank’s website and enter your ZIP code then fill out an application for if you’re eligible to open an account. You’ll need to fill in personal details such as your name, address and Social Security number. Then fund your account either with an external account, a debit card or credit card.

Otherwise, you can call customer service at 1-800-385-8664, or head to your local branch to open an account.

SEE DETAILS Secured

on Fulton Bank, National Association’s secure website

Member FDIC

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How Fulton Bank’s money market accounts compare

We’d give these accounts a hard pass if you’re looking for the best rates possible. Some of the other competitors found on our list of the best money market rates offer lower minimum account balance amounts and no monthly fees. Not only will shopping around help save you some serious cash, it could help you earn much higher rates.

Fulton Bank IRA account options

IRA CD

Some of these rates are on par with the best offerings out there.
TermAPY
3 months0.05%
6 months0.05%
9 months (promo rate)2.25%
13 months (promo rate)2.25%
15 months0.10%
18 months0.10%
24 months0.10%
25 months (promo rate)0.85%
30 months0.10%
36 months0.10%
48 months0.20%
60 months0.20%
72 months0.20%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: 6 months’ interest

Fulton Bank’s IRA CDs are a great choice for those who are looking for a tax-advantaged account that offers decent guaranteed rates. Just like the regular CDs, the promotion rates are only good until the end of October 2018 and applies to new money, meaning money transferred from an external account.

Interest is compounded and deposited into your CD monthly. Upon maturity, you have a 10-day grace period where you can either make additional deposits, withdrawals or renew for another another term. Otherwise, Fulton Bank will automatically renew your CD for the same term.

How to get an IRA CD

You can only open an IRA CD in person.

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Bump Up IRA CD

You get a great rate in a tax-advantaged account.
TermAPY
36 months0.75%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: 6 months’ interest

If you’re looking for a conservative investment vehicle, you can’t go wrong with the bump up IRA CD. This account gives you a chance to raise your rate once. If the advertised rate for the 36 month (or the closest equivalent) CD is higher than your current one, you can request an increase.

Just like the fixed-rate CD, interest is compounded and credited monthly. You can only qualify for this rate if you deposit new money, meaning funds that aren’t currently sitting in other Fulton Bank accounts. Also, upon account maturity, you have a 10-day grace period to make any necessary chances or else the account will automatically be renewed for the same term.

How to get the Bump Up IRA CD

You can only open an IRA CD in person at a branch.

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How Fulton Bank’s IRA CD rates compare

The rates on these IRA CDs are on par with some of the best offerings we’ve seen, including ones on our list of the best IRA CD rates. Unfortunately, you can one open one of these accounts if you live in certain parts of the U.S. If you’re not in a participating area, you’re sadly out of luck.

IRA Money Market account

You get more flexibility compared with the IRA CD, but at the cost of a low rate.
APYMinimum Balance to Earn APY
0.05% none
  • Minimum opening deposit: $10
  • Minimum balance to earn APY: None
  • Monthly account maintenance fee: None
  • ATM fee: N/A
  • ATM fee refund: N/A
  • Overdraft fee: N/A

This is a basic IRA money market account that offers you an opportunity to keep your money in a tax-advantaged account. It’s great for those who don’t want to be tied down to things like CD terms, but even if you can withdraw money at any time, you could be subject to IRS penalties if you do so under the age of 59 1/2 years old. You’re also allowed up to six certain withdrawals/transfers due to Regulation D and you’ll face a $12 excess activity fee for each transaction over the threshold from the bank.

How to get Fulton Bank’s IRA Money Market account

You’ll need to head to a local branch to open an account.

SEE DETAILS Secured

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Overall review of Fulton Bank’s banking products

Fulton bank offers some great CD and IRA CD rates, which we’ve found are close to or a match with other online competitors. Their savings, checking and money markets are less than stellar and you’re better off avoiding those if you want higher rates. You do get a debit card that offers cash back and rewards, so that is a decent selling point.

However, none of this matters if you don’t live in the mid-Atlantic region that Fulton Bank serves. If that’s the case, you have no choice but to go elsewhere.