Fulton Bank, National Association is headquartered in Lancaster and is the 4th largest bank in the state of Pennsylvania. It is also the 111th largest bank in the nation. It was established in 1882 and as of March of 2016, it had grown to 1,229 employees at 118 locations. Fulton Bank, National Association has an A+ health rating.
Fulton Bank mailed me a promotion to open a checking account and get $150. I followed all the steps exactly. I set up direct deposit within the time required, etc. It has been several months and I still do not have the bonus. I don't understand how they can mail you a promotion and then not give it. I am 100% sure I followed everything that was required. I've never had any accounts with them in the past so I just don't get it.
I've been with this bank for over 10 years. So for basic banking (regular deposits, check payments) it was fine.
However, when put to the test, Fulton Bank fails! I'm currently in the beginning process of divorce. I made the move to pull my money out of joint checking and move it into personal accounts that I set up new with them that day. Fine so far.
However, my estranged husband and I needed to sign together to have my name off joint checking (STRIKE 1). They failed to do 2 stop payments from the old checking account over a period of 48 hours claiming "the systems were down" (STRIKE 2) Because of this incurred service fees due to being over drawn on the old checking, when it was in THEIR ERROR! They keep "reversing" the fees, but are messing this up as well placing them the "reversals" in wrong accounts (STRIKE 3). Finally after 2 weeks from opening my new account, I get my estranged husband to meet me and sign off that he's taking control of the joint checking account and it should now be all balanced with no over drafts. But Fulton can't do this right either. They gave him BOTH checking accounts meaning our joint checking and my brand new personal checking to which my direct deposits now go!! So now I have no access to my own checking or current paycheck! (STRIKE 4 - ARE YOU KIDDING ME!!!!).
At this point I'm beyond upset with them! As soon as I can, I will be closing everything with them and taking my business elsewhere! I've also been disappointed with there slow responses. It took them 36 hours to tell me they never process my stop payment, which was too late by then.
Every year for the past 3 yrs, it takes weeks for us to get our loan statements. We were told we have to open a checking and/or savings account in order to get our interested statements processed quickly. We have a loan account!!! Why can't Fulton Bank process these statements either online or within the guidelines of 1099s, W2, etc. We have to go into bank to get the interest statements. It's ridiculous!! I will never open an account with you and if I could move my loan account, I would!! Get with the times!
Agree 100% with Pintman's review: Fulton's loan process is "Glacial". Spot On! We'd established a great, long-term working relationship with some wonderfully responsive Fulton Bank personel for our commercial investments (the only reason Fulton got 2 stars instead of 1). The loan process was always seemless, and quick.
Recently, our contacts have been shifted around here and there, and the once respectful, timely business process went static. Now, it seems that the "powers that be" at Fulton's decision table work an awkward 1-day "production" week:
Thursday: Reserved for setting up foursomes and tee times. No decisions made
Friday: The weekly "hit the Links!" outing with the pals. No decisions made
Monday: Breakfast-brunch-lunch with the golf buddies to review Friday's game. No decisions made.
Tuesday Review loan requests not completed on Thursday and Friday. Paper shuffle. Procrastinate 1 more day.
Wednesday: Actually make a decision on a loan request, or two. Leave all other requests sit until next week.
Recommendation: If you're a serious commercial investor looking for a business-like, congenial, and respectful relationship based on a win-win situation, look elsewhere. Fulton Bank seems more interested in nickel and diming granny out of her checking account than acting like a grown up business lending institution. Sorry Fulton, I'm leaving, and taking my investor network with me.
PS Fulton on-line banking mirrors their loan process: novice, cumbersome, and time-consuming to use.
|FDIC Certificate #||7551|
|Return on Assets - YTD||1.03%|
|Return on Equity - YTD||8.56%|
|Annual Interest Income||$83.1MM|
|Assets and Liabilities|
|Assets||Q1 2016vs Q1 2015||$9.95B$9.73B|
|Loans||Q1 2016vs Q1 2015||$7.98B$7.69B|
|Deposits||Q1 2016vs Q1 2015||$7.93B$7.31B|
|Equity Capital||Q1 2016vs Q1 2015||$1.20B$1.16B|
|Loan Loss Allowance||Q1 2016vs Q1 2015||$84.2MM$86.3MM|
|Unbacked Noncurrent Loans||Q1 2016vs Q1 2015||$67.8MM$77.2MM|
|Real Estate Owned||Q1 2016vs Q1 2015||$6.5MM$6.8MM|
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