WSFS Bank


Overview / Commentary
302-792-6000
500 Delaware Avenue
Wilmington, DE 19801

WSFS Bank is headquartered in Wilmington and is the 7th largest bank in the state of Delaware. It is also the 124th largest bank in the nation. It was established in 1832 and as of March of 2021, it had grown to 1,804 employees at 94 locations. WSFS Bank has an A+ health rating.

Reviews (7)

A very reliable bank in Delaware

WSFS is a pretty reliable bank to use regularly. They have friendly customer service, overall. Their employees treat you like valued customers.

On the downside, they do not have as many online features as, say, Capital One 360. I cannot yet deposit checks online. Their site interface is also not quite as advanced as some others.

Also on the negative, it is also more difficult to do transfers from other banks; They tend to charge you fees. Furthermore, there are overdraft fees and potential fees for withdrawing from a credit line automatically. This is inconvenient and can make transactions more of a hassle. Perhaps some other banking experiences have spoiled. For the record, I have a WSFS checking account.

On the plus side, you can get a debit card for them fairly easily. And if you live in Delaware, you can get serviced at a lot of different locations. There are also WSFS atms around the area. So more personal service and locations makes up somewhat for lack of online features. And that means that there are more people getting jobs instead of all the banking done remotely. I appreciate that.

Overall, a very good bank.

overall a good local bank

We became WSFS customers because they offered not only a no-fee interest checking account, but also had a rewards program. The rewards program has been discontinued now, but they still offer interest checking accounts with no fees which is hard to find elsewhere. Even though they have cut back the benefits, they are still a good bank to use. The employees are very customer service focused. They do try to cross sell their products frequently, but they do not harass customers with mailings or e-mail. It is a bit unsettling that they are now merging with another bank and restructuring, but from what I can see, things are generally remaining as they were which is just fine with us! Most branches offer extended banking hours, and I have seen their ATMs in many locations including in store fronts which is convenient. Their online banking is limited unless you want to go completely paperless so keep that in mind especially if you like paper statements mailed to you and still want to do the majority of your banking online; but you can still check your balance and recent transactions even if you don't have full online access. Overall, their fees seems to be fair, they do not surprise you with charges, and we have found it be a convenient place to do our banking.

WSFS Is Truly A Service Oriented Bank

I have been a customer of this bank for over 15 years, and it is a bank that really focuses on the customer and goes the extra mile to provide great service. Although I had a couple negative experiences (with an excessive overdraft fee and fees for reordering checks),most of my contact with this bank has been problem free. At one branch, all of the representatives remember names and help each other out with cases when the others are busy.

NOT Service Oriented Anymore

Posted by: |

I have been with WSFS for over 10 years. I have noticed a decline in customer service, especially the past 3 years. As they focus more on growth and profit, they focus less on helping the customer. They eliminated the "REALLY! Free" banking, reduced the number of ATM's, don't keep the ATM's filled with money, and have made it more difficult and expensive to qualify for loans. Two of my family members have already switched, and I am too. They are now just another profit-focused business,

Astonishingly Awful Customer Service

Posted by: |

WSFS = THE ABSOLUTE WORST CUSTOMER SERVICE. I have had multiple loans, mortgages and credit card accounts with multiple large scale financial agencies...(Capital One, USAA, Wells Fargo, Chase) over the years and never once have any of them subjected to me to the ridiculousness that WSFS has. I have excellent credit and excellent payment history on all of my accounts. I was attempting to pay off a HELOC that had been sold to WSFS after the refinance. It took 3 days, 4 phone calls and the submission of a derogatory cutomer service feedback quiz just to get a payoff amount. I had the payoff check overnighted the very next day after receiving the payoff. 10 days after WSFS posted the payoff check and I still cannot get a letter or official documentation of any kind, acknowledging the pay off. They have adjusted the balance to zero on the day they posted the check. They have cashed the check and received the fund to pay off the loan but they refuse to give me any documentation confirming it for another 4 days. Any time I have to call, I get the same scripted answer about their "protocols". Absolute insanity! If you have any chance of avoiding WSFS, please, for the love of all things holy, save yourself the trouble and steer clear.

Total Disappointment

Posted by: |

Deposit accounts that I have had for 45 years were taken over by WSFS when they acquired Beneficial Bank. Now I am forced to close the accounts based on ridiculous nuisance fees that I never encountered with the previous owners of the accounts (Beneficial Bank, Conestoga Bank, First Penn Bank, IGA Federal Credit Union). WSFS Customer Service is horrible and they really don’t care about you and your deposits

The Worst Bank Ever

Don’t like this bank. They purchased Beneficial Bank and now it’s a mess. So many fees it can break you. Delays in processing purchases and updated balances. The purchase will show up but it hasn’t been subtracted from the balance. Used to get my pay a day early, now it has to sit there as pending and they won’t release it until The my actual pay date. Went to the bank and had to ask for a deposit slip because the teller said they were running low ?. I can’t wait to take my money out of all 5 of my accounts and run quick away from them and never look back.



Health
A+

Health Grade Components

Overall
FDIC Certificate #17838
Year Established1832
Employees1804
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.83%
Return on Equity - YTD14.55%
Annual Interest Income$121.3MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$14.70B$12.25B
LoansQ1 2021vs Q1 2020$8.53B$8.50B
DepositsQ1 2021vs Q1 2020$12.51B$9.74B
Equity CapitalQ1 2021vs Q1 2020$1.83B$1.94B
Loan Loss AllowanceQ1 2021vs Q1 2020$204.8MM$139.1MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$33.0MM$22.5MM
Real Estate OwnedQ1 2021vs Q1 2020$2.1MM$4.8MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not WSFS Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

WSFS Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.02%*$25k*-Small Business Core Savings
OTHER TIERS: 0.01% Up to $25k
0.02%*$25k*-Core Savings
OTHER TIERS: 0.01% Up to $25k
0.02%--All-Purpose Club

WSFS Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.07%*$250k*-Small Business Money Market
OTHER TIERS: 0.01% Up to $10k | 0.02% $10k - $50k | 0.04% $50k - $250k
0.07%*$500k*-Money Market
OTHER TIERS: 0.01% Up to $25k | 0.02% $25k - $100k | 0.04% $100k - $500k

WSFS Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.02%*$25k*-Relationship Checking
OTHER TIERS: 0.01% Up to $25k

WSFS Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%$2.5k-24 Month Fixed Rate CD
0.20%$2.5k-18 Month Fixed Rate CD
0.15%$2.5k-12 Month Fixed Rate CD
0.15%$2.5k-48 Month Fixed Rate CD
0.15%$2.5k-60 Month Fixed Rate CD
0.15%$2.5k-36 Month Fixed Rate CD
0.05%$2.5k-6 Month Fixed Rate CD
0.03%$2.5k-3 Month Fixed-Rate CD

WSFS Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%$2.5k-24 Month Fixed Rate IRA
0.20%$2.5k-18 Month Fixed Rate IRA
0.15%$2.5k-12 Month Fixed Rate IRA
0.15%$2.5k-36 Month Fixed Rate IRA
0.15%$2.5k-48 Month Fixed Rate IRA
0.15%$2.5k-60 Month Fixed Rate IRA
0.05%$2.5k-6 Month Fixed Rate IRA
0.03%$2.5k-3 Month Fixed-Rate IRA
Locations

Availability



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