If you live or work in Delaware, it’s important to find the right bank for your unique goals. Fortunately, there are plenty of options at your disposal.
In addition to its beautiful beaches, affordable housing, and historical landmarks, the First State is home to many reputable banks that are ideal for your personal or business finances.
13 Best Banks in Delaware
While some have local branches throughout the state, others are online only. To make your search for the ideal financial institution a bit easier, we’ve done the heavy lifting for you and listed the best banks in Delaware below.
1. Chime
Chime is a digital bank redefining traditional banking norms. With no physical branches, Chime stands out by providing a simple yet intuitive suite of financial products, all managed from their highly rated mobile app. The bank offers a fee-free1 checking account, a high yield savings account, and a secured credit card.
The checking account, with no minimum balance and no overdraft fees, is particularly impressive. Its standout feature, SpotMe5, allows qualifying users to overdraw by up to $200 without fees. Meanwhile, the savings account is made appealing with an automatic savings feature, making it simple to save without thinking.
Notably, Chime gives the benefit of receiving paychecks up to two days early2 when you set up direct deposit. Its secured credit card is also a boon, helping users build credit over time through responsible usage and consistent payments.
2. Capital One
Capital One is a large bank known for making banking easy with no minimum deposit requirements or monthly maintenance fees. Although it doesn’t have physical branches in Delaware, it is still a favorite for many who prefer online banking, earning a spot among the best banks in Delaware for those who like to manage their finances digitally.
The Capital One 360 Performance Savings account comes with an annual percentage yield (APY) of 4.30%. This account allows you to earn interest without needing a minimum balance. Adding to the convenience are a highly rated mobile app, access to over 70,000 fee-free ATMs, and free credit card monitoring. This makes banking with Capital One not just easy, but safe and modern too.
3. Axos Bank
Axos Bank is a digital bank with competitive interest rates on checking and savings accounts, which are free of monthly fees and ATM fees. Even if you live in Delaware, you can perform your banking through Axos online or via the intuitive mobile app, which comes with mobile check deposits, fund transfers, and mobile bill pay.
The bank’s checking accounts offer rewards while the savings accounts stand out for their ATM cards. Speaking of ATMs, Axos Bank will reimburse you for ATM fees on many of its accounts. In addition to its personal banking products, Axos specializes in new mortgages, mortgage refinancing, HELOCs and home equity loans, car loans, personal loans, and managed investment portfolios.
4. Barclays Bank
With its operational base in Wilmington, Delaware, Barclays Bank is often recognized locally as “Barclays Bank Delaware.” This international banking powerhouse extends its services to all U.S. states, presenting a variety of banking products to cater to diverse customer needs.
Despite having only one branch in Delaware, Barclays ensures accessibility through its online portal and a top-rated mobile application. This allows customers to keep track of their finances seamlessly from any location.
Barclays stands out for offering enticing benefits such as competitive interest rates on high-yield savings accounts and certificates of deposit (CDs). Opting for a CD account with Barclays provides lucrative returns and comes with the advantage of minimal withdrawal penalties.
Additionally, their customer support is at your service seven days a week, ready to assist with any inquiries or address potential concerns, thereby promising a banking experience that is both rewarding and hassle-free.
5. TD Bank
TD Bank is one of the largest banks in the U.S. It’s a solid pick for a national bank with a handful of locations in the Delaware. With TD Bank, you can expect a plethora of bank accounts, no fees on international transactions, and a highly rated mobile banking app.
From personal and business checking accounts and savings accounts to personal loans, IRAs, and mortgages, TD Bank truly offers it all. If you open an account, you might qualify for a generous bonus. Also, if you’re a student or young adult, you won’t have to worry about monthly maintenance fees or service fees. You might also be able to waive these fees if you maintain a high balance in your accounts.
6. M&T Bank
M&T Bank has many locations in Delaware in cities like Wilmington and New Castle. Even if you don’t live in an area with a physical M&T location, you can enjoy digital banking and conveniences like Zelle transfers and mobile deposits. When it comes to checking accounts, M&T Bank offers four options.
The EZ Choice Checking is your best bet for a basic, free checking account while MyWay Banking is a checkless account that doesn’t charge overdraft fees. MyChoice Plus is an interest-bearing account, just like MyChoice Premium, which offers competitive rates on loans and other products.
In addition to these noteworthy checking accounts, you’re sure to appreciate M&T’s large ATM network and no monthly fees.
7. The Bank of Delmarva
The Bank of Delmarva is a small community bank with branches in Ocean City, Salisbury, and Sussex County. Its lineup of personal banking accounts and services includes the best checking accounts, savings accounts, money market accounts, CDs, and IRAs.
If you’re a small business owner, rest assured that it offers business loans, commercial products, and merchant services. Compared to other banks in the state, it offers low fees and competitive interest rates.
Plus, it’s earned stellar reviews for its customer service. We can’t forget the intuitive mobile app you can use to manage your banking while you’re out and about. The Bank of Delmarva has certainly earned its reputation as one of the best banks in Delaware.
8. Artisans’ Bank
Artisans’ Bank has served Delaware since 1861. Today, it has 12 branch locations in the First State as well as two commercial lending offices. Artisans’ list of personal banking products includes checking accounts, savings accounts, money market accounts, debit cards, and branded credit cards with cash back rewards.
The bank also serves small businesses in Delaware with small business banking products such as business bank accounts, business credit cards, and business loans. Even though Artisans’ is a local bank with a physical presence, it offers online banking services so you can manage your accounts online.
9. Community Bank Delaware
Community Bank Delaware is exactly what it sounds like: a community bank based in Delaware. Since it’s locally owned and managed, it focuses on personalized customer service and community support.
At this bank, you’ll find checking accounts, personal savings accounts, time deposits, personal loans, personal credit cards, mortgages, and home equity loans. Community Bank also serves local small business owners with products to support their business operations, such as checking accounts, business savings accounts, business credit cards, and merchant services.
Additional banking solutions include online banking, wire transfers, cashiers checks, night depositary services, direct deposit, and safe deposit boxes.
10. PNC Bank
PNC Bank is a national bank with over 30 branches in cities such as Dover, Bear, Wilmington, and Newark. Its deposit accounts and other products are designed to meet all your banking needs. Virtual Wallet Spend is a combination checking and a long term savings account with a generous sign-up bonus and features like online bill pay, free mobile banking, and a debit card.
While there is a monthly maintenance fee, you can avoid this monthly fee if you maintain a direct deposit balance. PNC Bank also offers loans, such as mortgages, home equity lines of credit, auto loans, personal loans, student loans, and refinancing products. With the PNC mobile app, you’ll be able to oversee your accounts while you’re on the go.
11. Ally Bank
Ally Bank is an online bank with competitive rates on savings accounts, money market accounts, and CDs. Thanks to its low overhead costs, Ally doesn’t charge monthly maintenance fees or impose minimum balance requirements.
You can access your money and make cash transactions at more than 43,000 ATMs through the Allpoint network, which Ally has joined. If you have certain savings goals, you’ll love Ally’s “buckets” feature. With the buckets, you’ll be able to organize your funds and receive personalized recommendations that allow you to save.
12. Wells Fargo
Wells Fargo is one of the largest banks in the U.S. with no shortage of physical branches and ATMs throughout Delaware so you can easily deposit cash. Just like most large banks, Wells Fargo offers a full suite of banking products, such as checking accounts, savings accounts, credit cards, home loans, personal loans, and auto loans.
Investment and retirement accounts as well as wealth management services are available too. You can invest on your own or take advantage of a financial advisor that will help you come with a personalized financial plan. Whether you’re an individual or a small business owner, you’re bound to find what you’re looking for at Wells. If you open an account, you may be eligible for a cash sign on bonus.
13. WSFS Bank
WSFS Bank is a regional bank and a subsidiary of a financial services company called WSFS Financial Corporation. Based in Delaware and Greater Philadelphia, WSFS Bank is known as one of the oldest banks in the country.
It offers a wide range of personal banking services, like checking accounts, savings accounts, credit cards, loans, and wealth management. Its certificates of deposit (CDs) feature competitive interest rates you might not be able to find elsewhere and the WSFS Bank Philadelphia Union Visa® Debit Card comes with contactless pay and access to more than 670 ATMs in Delaware and Philadelphia.
At WSFS Bank, you can also take advantage of business banking services, like SVP management, cash management, and merchant services.
Types of Banks in Delaware
When it comes to managing your finances effectively, choosing the right type of bank can be the first step to success. In Delaware, you have several options to choose from, including national banks, regional banks, community banks, credit unions, and online banks. Here is a brief overview of each to help you identify the best banks in Delaware for your needs.
National Banks
National banks are large institutions with a presence not only in Delaware but also in many other states across the country. They offer a comprehensive range of products, including checking and savings accounts, retirement solutions, credit cards, and mortgages. Notable examples in Delaware include TD Bank, Wells Fargo, and PNC Bank.
Regional Banks
Regional banks operate in a specific part of the country, offering a wide variety of banking services. They are somewhat smaller than national banks but tend to offer more personalized services. In Delaware, you might come across regional banks like M&T Bank and Fulton Bank, which have a significant presence in the area.
Community Banks
Community banks primarily serve the local populations in Delaware, focusing on personal customer service and community development. Some popular choices are Community Bank Delaware and the Bank of Delmarva.
Credit Unions
Credit unions are member-owned financial institutions that offer banking services, often with lower fees and better interest rates compared to traditional banks. In Delaware, you have options like the Dover Federal Credit Union, and Del-One, which is Delaware’s largest credit union.
Online Banks
Online banks operate without physical locations in Delaware, thereby offering lower fees and higher interest rates due to reduced overhead costs. Prominent online banking options include Chime, Axos Bank, Ally, and the UK-based Barclays Bank, which serve Delaware residents with a range of online financial services.
How to Choose the Best Bank in Delaware
Choosing among the best banks in Delaware can make a big difference in your financial future. Here are some important factors for you to consider:
- Financial products and services: Ensure the bank offers a wide range of products and services that meet your specific needs. This might include personal banking, business accounts, credit cards, and mortgage loans, among other offerings.
- Fees and charges: Being mindful of the fees and other charges is important. Opt for a bank that maintains a policy of low or no fees for basic services, providing a more affordable banking experience.
- Customer service: Prioritize banks known for excellent customer service, where personalized and responsive service is a hallmark. This will ensure that your concerns are addressed promptly and efficiently.
- Accessibility: A bank’s physical presence and accessibility in your locality should be a key consideration. Opt for institutions with a robust network of ATMs and branches to facilitate convenient banking.
- Online and mobile banking: In today’s world, secure and user-friendly online banking features are non-negotiable. Ensure that the bank provides a digital platform allowing you to manage your finances seamlessly from anywhere.
- Community engagement: Many banks are actively involved in community programs and corporate social responsibility initiatives. Choosing a bank that supports local initiatives can be a rewarding experience.
- Reviews and recommendations: Before settling on a choice, consider seeking reviews and recommendations from trustworthy sources. Banks with high ratings and positive feedback are likely to be reliable choices.
- Security and safety: Lastly, the safety measures adopted by the bank to protect customer data and financial assets should be a top priority. Opting for banks that adhere to high security standards will ensure peace of mind.
Taking these factors into consideration will guide you in selecting a bank that aligns well with your financial goals and lifestyle preferences. Remember, finding the best bank in Delaware requires careful research and a thoughtful comparison of the different options available.
Bottom Line
Delaware has plenty of banks and other financial institutions to help you meet your financial goals. Before you choose one, consider your priorities and weigh the pros and cons of all your options.
If you like an in-person banking experience, a community bank might make sense. On the flip side, if you prefer online and mobile banking, an online bank is likely the way to go. Good luck with your search for the best bank in Delaware.
Frequently Asked Questions
How do Delaware banks keep my money safe?
Most banks insure your deposits up to 250,000 with the FDIC or Federal Deposit Insurance Corporation. Other services like fraud protection can also give you some peace of mind for your linked accounts.
What are the most popular banks in Delaware?
The banks with the most branches in Delaware include PNC Bank, M&T Bank, and WSFS Bank. If in-person banking is important to you, these banks should definitely be on your radar.
Can I open a bank account in Delaware as a non-resident?
Yes. In most cases, you can open an interest earning account or business savings account even if you don’t live in Delaware. You’ll likely need an Individual Taxpayer Identification Number (ITIN).
Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A.; Members FDIC. Credit Builder card issued by Stride Bank, N.A.
1. Out-of-network ATM withdrawal fees may apply with Chime except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
2. Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. Chime generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
5. Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each at least once every 34 days. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member’s Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime’s discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. SpotMe won’t cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See Terms and Conditions.
